croatia tire market forecast 2021 - brochure
TRANSCRIPT
M a r k e t I n t e l l i g e n c e . C o n s u l t i n g
Croatia Tire Market Forecast and Opportunities , 2011 - 2021
© TechSci Research
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T a b l e o f C o n t e n t s
S. No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. Croatia Tire Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value & Volume
4.2. Market Share & Forecast
4.2.1.By Vehicle Type (Passenger Car, LCV, M&HCV, Two-Wheeler, Off-the-Road and Others)
4.2.2. By Company
4.2.3. By Region
5. Croatia Passenger Car (PC) Tire Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Vehicle Type (Hatchback, Sedan and SUV)
6. Croatia Light Commercial Vehicle (LCV) Tire Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
7. Croatia Medium & Heavy Commercial Vehicle (M&HCV) Tire Market
7.1. Market Size & Forecast
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T a b l e o f C o n t e n t s
S. No. Contents
7.1.1. By Value & Volume
8. Croatia Off-the-Road (OTR) Tire Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
9. Croatia Two-Wheeler Tire Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1 By Vehicle Type (Motorcycles and Scooter/Mopeds)
10. Import-Export Analysis
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Recovering Passenger Car & Commercial Vehicle Sales
12.2. Declining Passenger Car and Commercial Vehicle Tire Import
12.3. Rising Online Tire Sales
12.4. Growing Sales of Winter Tires
12.5. Growth in Domestic Retread Tire Market
13. Policy & Regulatory Landscape
14. Croatia Economic Profile
15. Competitive Landscape
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T a b l e o f C o n t e n t s
S. No. Contents
15.1. Compagnie Générale des Établissements Michelin (CGEM)
15.2. Bridgestone Austria GmbH
15.3. Goodyear Dunlop Sava Tires d.o.o
15.4. Yokohama (Austria) GmbH
15.5. Nokian Tyres PLC
15.6. Pirelli & C. S.p.A.
15.7. Hankook Tire Co. Ltd.
15.8. Cooper Tire & Rubber Company
15.9. Continental Aktiengesellschaft
15.10. Toyo Tire & Rubber Company
16. Strategic Recommendations
17. About Us & Disclaimer
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P r o d u c t O v e r v i e w
Product Definition
Global tire supplier Michelin defines tire as, “A precisely engineered assembly of rubber,chemicals, fabric, and metal, designed to provide traction, cushion road shock andcarry a load under varying conditions.”
Classification According to Vehicle Type
Vehicle Segment Sub-Segment Customer Segment
Passenger Car
Hatchback
IndividualsSedan
SUV
Light Commercial Vehicle NATransportation & Logistics, Small
Medium Enterprises (SMEs)
Medium & Heavy Commercial Vehicle NA Transport Companies, Logistics & Cargo
OTR (Off-the-Road) Vehicle NA Farming, Mining & Quarrying Companies
Two-WheelersScooters & Mopeds
IndividualsMotorcycles
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R e s e a r c h M e t h o d o l o g y
A
C
B
Primary Research
Company Analysis
Desk Research
Identifying Key Opinion
Leaders
Questionnaire Design
In-depth Interviews
Market Participants
Key Strengths
Tire Portfolio
OEM Tie-ups
Recent
Developments
Market Changing
Aspects/Dynamics
Government
Policies
Final Conclusion
LinkedIn TechSci Internal
database
Factiva Hoovers
Paid Sources
Company Website Company Annual
Reports White Paper Study Financial Reports Investor
Presentations Regulatory Body, Associations, etc.
Secondary Research
Primary Research
Data Collection
Data Filter& Analysis
Research &Intelligence
ActionableInsights
BusinessSolution
•In-depth secondary research was used todetermine top players in Croatia tire market,overall market size and to identify topautomobile tire manufactures.
Market Profiling
•In order to conduct industry experts interviews,TechSci formulated a detailed questionnaire.
Formulating Questionnaire
•List of industry players (manufacturers),distributors, retailers, and industry specialistswas developed.
Developing List of Respondents
•TechSci conducted interviews with industryexperts & industry players for data collection andverification.
Data Collection
•Data obtained from primary and secondaryresearch was validated through triangulationmethod.
Data Validation
•The data was scrutinized using MS-Excel andstatistical tools such as Time Series analysis, etc.to obtain qualitative and quantitative insightsabout the Croatia tire market.
Data Analysis
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Baseline Methodology:
For the study, TechSci Research has gathered information through primary research surveys with leading tirecompanies operating in Croatia, and subsequently verified information from major dealers/distributors ofautomobile tires in the country. We also put through an exhaustive search of credible paid databases such asBusiness Week, Factiva, Hoovers, etc., including our internal database. Our team of analysts has thenprudently evaluated all the collected information and presented the same in chronological order to depict ameaningful and clear picture of the tire market in Croatia.
While compiling the data, we have also cross checked all the collected information from multiple sources anddata warehouses, so as to present the most accurate and precise information of the concerned industry. Weuse innovative business model that focuses on improving productivity, which ensuring creation of high-qualityreports. The reports are prepared with in-depth primary research, followed by exhaustive secondary research.
Primary Research – Companies Dealers & Distributors Interviewed Few of Sources of Secondary Research
S. No.Company Dealers & Distributor
Names
1. Michelin Croatia
2. Bridgestone Austria GmbH
3 Yokohama Croatia
4. Nokian Tyres PLC
5. Hankook Tire Co. Ltd.
6. Cooper Tire & Rubber Company
S. No. Secondary Sources
1. Ministry of Transport, Republic of Croatia
2. Croatian Bureau of Statistics
3. State Bank Croatia
4. European Union
5. World Bank
6. United Nations
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For the preparation of Croatia tire report, bottom-up model has been used, which has been later cross validated byusing top down approach.
Vehicle Sales & Fleet Size
The basic data points that are needed for the analysis of Croatia tire market are the historical, current and forecastfigures for vehicle sales and fleet size. The data for vehicle sales and fleet size has been extracted through varioussecondary sources and credible data portals. TechSci Research has also maintained a database for vehicle sales andfleet size for each vehicle segment (passenger cars, light commercial vehicles, medium & heavy commercialvehicles, two-wheelers and off-the-road vehicles), which is regularly updated through various primary researchsurveys and secondary sources such as automotive associations & government publications.
Tire Demand
Replacement Tire Sales
Replacement tire demand of a particular country is directly dependent on country’s vehicle fleet size and historicalvehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleet with the replacementtire ratio, which is obtained by conducting a series of surveys with car owners to understand the frequency of tirereplacement as it varies for different countries depending upon factors such as road conditions, climate, economicand regulatory policies applicable in a country. The replacement ratio is expressed as a percentage. For example, incase of passenger cars, replacement ratio is considered to be 100% if four tires are replaced per vehicle per year.
Example for passenger car replacement tire demand calculation:
Passenger Car
Fleet Size
(Volume)
XReplacement Ratio
(%)X No. of Tires =
Replacement
Tire Demand
10,000 X 100% X 4 = 400,000 Tires
The calculated replacement tire demand data is further analyzed by TechSci Research through Delphitechnique i.e., multiple rounds of telephonic interviews were conducted with tire companies dealer/distributorin India. The information gathered through primary interviews was cross-verified through industry expertsand secondary sources such as annual reports and paid databases to generate meaningful results.
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Tire Trade (Import & Export)
TechSci Research has analyzed tire imports in Croatia. The data has been gathered through governmentagencies and credible paid databases. The total tire trade has been segmented in accordance with belowmentioned HS codes:
HS Code Description Tire Type
401110 Motor Cars Passenger Car Tire
401120 Bus or Lorries Tires Commercial Vehicle Tire
401140 Motorcycle Tire Two-Wheeler Tire
401161 Tire Having a "Herring Bone"
OTR Tire
401162 Tire Having a "Herring Bone"
401163 Tire Having a "Herring Bone"
401169 Tire Having a "Herring Bone"
401191 Tire Having a "Herring Bone"
401192 Agriculture Tire
401193 Construction/Industrial Tire
401194 Construction/Industrial Tire
401199 Others Other Tires
The import figures for each vehicle type (Passenger Car, Commercial Vehicle, Two-Wheeler, & OTR) havebeen depicted in Value (USD Million).
Forecast
For forecasting the numbers, we have used Time Series Analysis along with Regression Analysis, followedby Judgmental Analysis as certain factors would always differ in Croatia such as infrastructure condition,economic outlook, etc.
I n d u s t r y B r i e f
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Croatia Tire Market to Grow at 7% through 2021
According to TechSci Research report, “Croatia Tire Market Forecast & Opportunities, 2011-2021”, the country’s tiremarket is projected to grow at a CAGR of over 7% during 2016-2021 on account of introduction of new vehicle models,expanding vehicle fleet and increasing purchasing power. Passenger car tire segment, followed by commercial vehiclesand off-the-road vehicles, dominated Croatia tire market with a cumulative volume share of over 90%, during 2011-2015. On account of easy financing and growing tourism sector, demand for two-wheelers is witnessing growth in thecountry. As a result, Croatia two-wheelers tire market grew at a CAGR of more than 20% over the last five years.
Several government initiatives including Strategy for Development of Entrepreneurship 2013–2020, to promoteentrepreneurship and for sustained development of SMEs in Croatia, are expected to aid revival of the country’seconomy in the coming years. As of 2015, Croatia Proper and Dalmatia region dominated the region’s tire market witha combined volume share of over 75% in 2015. Widespread presence of well-established network of dealers anddistributors of leading global players such as Bridgestone, Goodyear, Yokohama, Michelin, etc. is further increasing thecompetition in the country’s tire market.
Due to lack of manufacturing facilities, the automotive sector in Croatia has been largely dependent on imports fromother countries. “Croatian is expected to attract huge foreign investments from various countries across the Europeanregion in coming years. Moreover, government spending in the construction and infrastructure sector of the country isalso expected to grow over the next five years. This is expected to significantly boost demand for commercial vehiclesas well as commercial vehicle tires in Croatia during the forecast period.”, said Mr. Karan Chechi, Research Director withTechSci Research, a research based global management consulting firm.
“Croatia Tire Market Forecast & Opportunities, 2021” has analyzed the potential of Croatia tire market and providedstatistics & information on market size, consumer behavior and trends. The report will suffice in providing theintending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides,the report identifies and analyzes emerging trends along with essential drivers and key challenges faced by theindustry.
S a m p l e D a t a - S n a p s h o t
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Croatia Tire Market Size, By Value (USD Million), By
Volume (Thousand Units), 2011-2021F
100200 300 400 500 600 700 800 9… 1,000 1,100
500 600 700 800 900 1,000 1,100 1,200 1,300 1,400 1,500
2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F
Value (USD Million) Volume (Thousand Units)
Croatia Tire Market Share, By Company, By Volume, 2015-2021F
10% 10% 10% 10% 10% 10% 10%15% 15% 15% 15% 15% 15% 15%5% 5% 5% 5% 5% 5% 5%
20% 20% 20% 20% 20% 20% 20%
50% 50% 50% 50% 50% 50% 50%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Others* Chinese Michelin Bridgestone Goodyear
Croatia Tire Market Share, By Region, By Volume, 2015-2021F
5% 5% 5% 5% 5% 5% 5%
25% 25% 25% 25% 25% 25% 25%
20% 20% 20% 20% 20% 20% 20%
50% 50% 50% 50% 50% 50% 50%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Istria Slavonia Dalmatia Croatia Proper
PC, …
CV, 25.00%
OTR, 25.00%
Two Wheeler, 25.00%
Croatia Tire Imports Share,
By Vehicle Type, By Value,
2015
Croatia Tire Exports Share,
By Vehicle Type, By Value,
2015
PC, …
CV, 25.00%
OTR, 25.00%
Two Wheeler, 25.00%
Croatia Passenger Car Tire Market Share, By
Vehicle Type, By Volume, 2015-2021F
20% 20% 20% 20% 20% 20% 20%
30% 30% 30% 30% 30% 30% 30%
50% 50% 50% 50% 50% 50% 50%
2015 2016E 2017F 2018F 2019F 2020F 2021F
SUV Sedan Hatchback
Croatia LCV Tire Market Size, By Value (USD
Million), By Volume (Thousand Units), 2011-2021F
100200 300 400 500 600 700 800 9… 1,000 1,100
500 600 700 800 900 1,000 1,100 1,200 1,300 1,400 1,500
2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F
Value (USD Million) Volume (Thousand Units)
Croatia Passenger Car Tire Exports, By Value, 2011-2015 (USD Million)
0.10 0.20 0.30 0.40 0.50
2011 2012 2013 2014 2015
R e p o r t O r d e r i n g
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