croatia tire market forecast 2021 - brochure

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

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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




5.2.1. By Vehicle Type (Hatchback, Sedan and SUV)

6. Croatia Light Commercial Vehicle (LCV) Tire Market Outlook



7. Croatia Medium & Heavy Commercial Vehicle (M&HCV) Tire Market


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S. No. Contents


8. Croatia Off-the-Road (OTR) Tire Market Outlook



9. Croatia Two-Wheeler Tire Market Outlook




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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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





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.

https://www.techsciresearch.com/report/croatia-tire-market-forecast-and-opportunities-2011--2021/731.html

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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Disclaimer

The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made thatit is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sourcesincluding which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of anyinformation and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that ithas no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can changewithout notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage ofthe same for purpose other than internal will require prior approval of TechSci Research.

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