LONDON, Dec. 15, 2016 /PRNewswire/ -- In terms of geographical area, Romania is one of the largest countries among Balkan Peninsula nations. With five manufacturing plants involved in the production of passenger cars and commercial vehicles, Romania is one of the leading automobile manufacturers in the Central and Eastern Europe (CEE) region. As a result, in addition to domestic players, various global tire manufacturers such as SC Continental Automotive Products S.R.L., Michelin Romania S.A. and S.C. Pirelli Tyres Romania S.r.l. are engaged in selling tires in the country. In Romania, overall motorization rate (passenger car and commercial vehicles) increased from 251 per 1,000 inhabitants in 2013 to almost 264 per 1,000 inhabitants by 2014. With the country's automobile fleet size anticipated to expand in the coming years on account of growing economy and increasing purchasing power, demand for tires is also forecast to grow during 2016 - 2021.
According to TechSci Research report, "Romania Tire Market Forecast & Opportunities, 2021", tire market in Romania is anticipated to grow at a CAGR of over 7% during 2016 - 2021. Expanding automobile fleet, changing consumer behavior and rising industrialization is forecast to support growth in Romania tire market during 2015 - 2020. The country's vehicle fleet is dominated by the passenger car segment, followed by the commercial vehicle segment. Consequently, 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. Of the total five tire production facilities operating in the country, two plants are owned by Michelin and the remaining three are operated by Continental, Eurotire and Pirelli. "Romania Tire Market Forecast & Opportunities, 2021" report elaborates following aspects of tire market in Romania:
- Romania 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
Why You Should Buy This Report?
- To gain an in-depth understanding of tire market in Romania
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tire companies and other stakeholders to align their market-centric strategies
- To gain in-depth understanding of market dynamics, imports & exports, trends and opportunities in Romania.
- To obtain research based business decision and add weight to presentations and marketing materials.
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based on both primary and secondary sources. Primary research includes interviews with tire companies and industry experts. Secondary research includes an exhaustive search of relevant publications such as company annual reports, financial reports and proprietary databases.
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