The tire market in Lithuania is projected to grow at a CAGR of over 9% during 2016-2021
The vehicle fleet of the country is dominated by passenger car segment, followed by the commercial vehicle segment. As a result, the passenger car tire segment held a major volume share in the country's tire market in 2015 and its dominance is anticipated to continue during the forecast period as well.
Anticipated expansion in the country's vehicle fleet coupled with rising disposable income, increasing urbanization and growing infrastructure sector are expected to positively influence tire market in Lithuania over the next five years. As of 2015, Lithuania's tire market was entirely import driven as no tire manufacturing facility was being operating in the country.
Region wise, Vilnius County is the largest demand generator for tire in the country, followed Kaunas, Klaipeda, iauliai and Paneveys counties. In 2015, these five counties cumulatively accounted for more than three-fourths of the tire sales in the country. Leading global tire companies operating in Lithuania include Continental, Goodyear, Michelin and Bridgestone, among others.
Lithuania Tire Market Forecast & Opportunities, 2021 discusses the following aspects of tire market in Lithuania:
- Lithuania Tire Market Size, Share & Forecast
- Segmental Analysis - Passenger Car Tires, Medium and Heavy Commercial Tires, Light Commercial Vehicle Tires, OTR Tires & Two Wheeler Tires
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Market Trends & Developments
- Increasing Focus on Public Transportation
- Increasing Penetration of Chinese Brand Tires
- Growth in Domestic Retread Tire Market
- Tire Import Scenario from Major Countries
- Impelling Demand for All Season Tires
- Belshina Open Joint Stock Company
- Bridgestone Baltic SIA
- Compagnie Générale des Établissements Michelin
- Continental Aktiengesellschaft
- Goodyear Dunlop Tires Baltic OÜ
- Hankook Tire Company Ltd.
- Nokian Tyres plc
- Pirelli & C. S.p.A.
- Toyo Tire & Rubber Co., Ltd
- Yokohama Denmark A/S
For more information about this report visit http://www.researchandmarkets.com/research/98jz87/lithuania_tire
Related Topics: Automotive Tires
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SOURCE Research and Markets