estonia tire market forecast 2021 - brochure

Estonia Tire MarketForecast and Opportunities , 2021

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

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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. Estonia 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 (PC), LCV, M&HCV, OTR and 2W)

4.2.2. By Region

4.2.3. By Company

5. Estonia Passenger Car (PC) Tire Market Outlook




5.2.1. By Vehicle Type (SUV & MPV, Small & Compact Car, Sedan and Others)

5.3. Passenger Car Prominent Tire Sizes and Price Analysis

6. Estonia Off-the-Road (OTR) Tire Market Outlook




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S. No. Contents

6.2.1.By Vehicle Type (Mining, Construction & Industrial Equipment; Agricultural Vehicles and Others)

6.3. Prominent Agriculture Tire Sizes and Price Analysis

6.4. Prominent Industrial Tire Sizes and Price Analysis

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



7.2. Medium & Heavy Commercial Vehicle Prominent Tire Sizes and Price Analysis

8. Estonia Light Commercial Vehicle (LCV) Tire Market Outlook



8.2. Light Commercial Vehicle Prominent Tire Sizes and Price Analysis

9. Estonia Two-Wheeler Tire Market Outlook



9.2. Two-Wheeler Prominent Tire Sizes and Pricing Analysis

10. Import-Export Analysis

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Growth in Domestic Retread Tire Market

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S. No. Contents

12.2. Increasing Penetration of Winter Tires

12.3. Rising Automotive Sales

12.4. Rising Internet Penetration Leading to Increased Online Tire Sales

12.5. Increasing Penetration of Chinese Tires

13. Policy & Regulatory Landscape

14. Estonia Economic Profile

15. Competitive Landscape

15.1. Bridgestone Baltic SIA

15.2. Goodyear Dunlop Tires Baltic OÜ

15.3. Compagnie Generale des Etablissements Michelin

15.4. Continental Aktiengesellschaft (AG)

15.5. Pirelli & C. S.p.A.

15.6. Toyo Tire & Rubber Co., Ltd

15.7. Hankook Tire Company Ltd.

15.8. Yokohama Scandinavia AB

15.9. Nokian Tyres PLC

15.10. Nokian Tyres PLC

16. Strategic Recommendations

17. About Us & Disclaimer

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

Sedan

IndividualsHatchback

SUV & MPV

Light Commercial Vehicle NATransportation & Logistics, Small

Medium Enterprises (SMEs)

Medium & Heavy Commercial Vehicle NA Transport Companies, Logistics & Cargo

OTR (Off-the-Road) VehicleIndustrial Equipment Vehicles

Farming, Mining & Quarrying Companies

Agricultural Equipment Vehicles

Two-WheelersMopeds

IndividualsMotorcycles

5

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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 Estonia tire market,overall market size and to identify topautomobile tire manufactures.

Market Profiling

•In order to conduct interviews with industryexperts, TechSci formulated a detailedquestionnaire.

Formulating Questionnaire

•List of industry players (manufacturers),distributors, retailers, and industry specialistswas developed.

Developing list of respondents

•TechSci conducted interviews with industryexperts and industry players, for data collectionand verification.

Data Collection

•Data obtained through primary and secondaryresearch was validated through rigoroustriangulation.

Data Validation

•The data was scrutinized using MS-Excel andstatistical tools such as Time Series analysis, etc.to obtain qualitative and quantitative insightsabout Estonia 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 Estonia, 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 tire market in Estonia.

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. Bridgestone Baltic SIA

2. Goodyear Dunlop Tires Baltic OU

3Compagnie Generale des Etablissements

Michelin

4. Continental Aktiengesellschaft (AG)

5. Pirelli & C. S.p.A.

6. Toyo Tire & Rubber Co., Ltd

S. No. Secondary Sources

1. ACEA

2. OICA

3. Estonia Statistics

4. Estonian Investment Agency

5. UN Comtrade

6. World Bank


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For the preparation of Estonia 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 needed for the analysis of Estonia tire market are the historical, current and forecast figuresfor 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, & 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 the country’s vehicle fleet size andhistorical vehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleet with thereplacement tire ratio, which is obtained by conducting a series of surveys with car owners to understand thefrequency of tire replacement as it varies for different countries depending upon factors such as road conditions,climate, economic and regulatory policies applicable in a country. The replacement ratio is expressed as apercentage. For example, in case of passenger cars, replacement ratio is considered to be 100% if four tires arereplaced per vehicle per year.

Example for passenger car replacement tire demand calculation:

Passenger Car Fleet

Size (Volume)X

Replacement 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 Delphi techniquei.e. multiple rounds of telephonic interviews were conducted with tire companies dealers/distributors in Estonia.The information thus gathered through primary interviews was cross-verified through industry experts andsecondary sources such as annual reports and paid databases to arrive at meaningful results.


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Tire Trade (Import & Export)

TechSci Research has analyzed tire imports in Estonia. 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.

I n d u s t r y B r i e f

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Estonia Tire Market to Grow at 6% till 2021

According to TechSci Research report, “Estonia Tire Market Forecast and Opportunities, 2021”, the tire market inEstonia is projected to grow at a CAGR of over 6% during 2016-2021. Rapid urbanization, expanding automobilefleet and increasing infrastructural development are some of the major factors anticipated to boost the demand fortires in the country over the next five years. Due to the absence of OEM vehicle production in the country, Estonia’stire industry is entirely dependent on the replacement tire market.

As per the data published by International Organization of Motor Vehicle Manufacturers (OICA), the country’soverall automobile fleet size, which mainly comprises of passenger cars and commercial vehicles, was around 773thousand units in 2015. In 2015, passenger car dominated the overall automobile fleet in Estonia, followed bycommercial vehicle segment. Considering Estonia’s expanding automotive fleet, which grew at a CAGR of 4.11%during 2011-2015, the demand for tires in the country is forecast to grow at a robust pace over the next five yearsas well.

Passenger car segment is forecast to dominate the overall Estonia tire market over the next five years owing toincreasing purchasing power and growth in the number of nuclear families in the country. Harju, Ida-Viru andLaane-Viru Region region of the country accounted for the largest volume share in the country’s overall tire sales in2015, and the same trend is anticipated to continue through 2021. Some of the major companies operating inEstonia tire market are Continental, Michelin, Goodyear and Bridgestone, among others.

“In Estonia, the government made it mandatory for all vehicles in the country to use winter tires between1st December and 1st March of every year, as they are suitable for driving in winter season. Moreover, it is forbiddento use studded tires in vehicles within the period of 1st May to 1st October of every year. Furthermore, winter tiresused in vehicles should have at least 4 mm tread depth. Estonia government emphasis on deploying winter tires inall the cars and buses weighing less than 3.5 ton, hence aiding the Estonia tire market over the next five years.”,said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consultingfirm.

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Estonia Tire Market Size, By Value (USD Million), By

Volume (Thousand Units), 2011-2021F

S a m p l e D a t a - S n a p s h o t

1 2 3 4 5 7 8 9 10 11 123 5 7 9 11 15 17 19 21 23 25

2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F

Value (USD Billion) Volume (Million Units)

Estonia Tire Market Share, By Region, By Volume, 2015-2021F

10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

30% 30% 30% 30% 30% 30% 30%

40% 40% 40% 40% 40% 40% 40%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Harju, Ida-Viru & Laane-Viru Region Tartu, Rapla, Jogeva & Jarva RegionParnu, Saare, Laane & Hiiu Region Viljandi, Voru, Valga & Polva Region

500/60-22.5

550/60-22.5

400/70-20

15.5/80-24

17.5L-24

405/70-24

400/80-24

14.00R24

15.5R25

25

50

75

100

125

150

175

200

225

Estonia Prominent Industrial Tire, Average Selling

Price (ASP), By Size, 2015 (USD per Unit)

Estonia Tire Market Share, By Company, By Volume, 2015-2021F

5% 5% 5% 5% 5% 5% 5%10% 10% 10% 10% 10% 10% 10%

15% 15% 15% 15% 15% 15% 15%

20% 20% 20% 20% 20% 20% 20%

25% 25% 25% 25% 25% 25% 25%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Chinese Tire Brands** Other* Bridgestone

Estonia Passenger Car Tire Market Size, By

Value (USD Million), By Volume (Thousand

Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 123 5 7 9 11 15 17 19 21 23 25

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

Value (USD Billion) Volume (Million Units)

2.50-10

2.50-12

130/70-12

90/90-14

120/90-10

110/70-12

140/70-14

110/70ZR17

120/70ZR17

150/70R17

110/80 -10

120/70 -12

510

1520

2530

3540

4550

5560

6570

7580

8590

95100

105110115

Estonia Prominent Two-Wheeler

Tire, Average Selling Price (ASP), By

Size, 2015 (USD per Unit)

PC Tires, 25.00%

CV Tires, 25.00%

OTR Tires, 25.00%

Two-Wheeler Tires, 25.00%

Estonia Tire Imports

Share, By Vehicle

Type, By Value, 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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