Serbia tire market is anticipated to surpass US$ 230 million by 2021, on account of increasing volume sales of vehicles in the country coupled with growing vehicle fleet size.
After witnessing adverse political scenario and economic volatility over the last few years, economy of Serbia has been witnessing recovery.
Moreover, Serbia is a candidate for membership of European Union and is one of the developing countries of the Balkan region. With a vehicle fleet (passenger cars & commercial vehicles) of over 1.97 million in 2014 and vehicle motorization rate of around 207 vehicles (passenger cars & commercial vehicles) per thousand people in 2013, Serbia's tire market is poised to witness moderate growth over the next five years.
Increase in vehicle sales is being supported by declining interest rates leading to affordable automobile financing in the country. Most of the leading global automotive OEMs such as Fiat, Nissan, Skoda, Renault, Mercedes, etc., are engaged in selling their automobiles in the country.
In 2015, Serbia tire market was dominated by the passenger car tire segment, which accounted for more than 90% of the tire sales in the country, followed by Off-the-Road (OTR), light commercial vehicle, two-wheeler and medium & heavy commercial vehicle segment. Leading global tire companies operating in Serbia include Goodyear, Tigar Tyres, Cooper, Pirelli, Bridgestone and Yokohama.
Serbia Tire Market Forecast & Opportunities, 2021 report elaborates the following aspects of tire market in Serbia:
- Serbia Tire Market Size, Share & Forecast
- Segmental Analysis - Passenger Car Tires, Light Commercial Tires, Medium and Heavy Commercial Vehicle Tires, Off-The-Road (OTR) Tires & Two-Wheeler Tires
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Market Trends & Developments
- Increasing Online Tire Sales
- Growing Focus on Domestic Tire Manufacturing
- Implementation of Winter Tire Regulation
- Growing Demand for Passenger Car Tires
- Bridgestone Europe NV/SA
- Continental AG
- Cooper Tire & Rubber Company Serbia d.o.o.
- Elastika Pirelli S.A
- Goodyear Dunlop Sava Tires d.o.o
- Nokian Tyres PLC
- Private Joint Stock Company ROSAVA
- The Yokohama Rubber Co., Ltd.
- Tigar Tyres d.o.o.
- Toyo Tire Europe GmbH
For more information about this report visit http://www.researchandmarkets.com/research/28pznl/serbia_tire
Related Topics: Automotive Tires
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