LONDON, Nov. 22, 2016 /PRNewswire/ -- Lithuania is a country located in the Baltic region of Northern Europe. Despite being largely impacted by the Eurozone crisis, the country's automotive sector managed to grow at a steady pace during 2011 - 2015. In Lithuania, automobile sales grew at a CAGR of around 5.9% during 2011 - 2015. Moreover, the country's automotive industry is likely to perform better during the forecast period on account of anticipated increase in the Foreign Direct Investment (FDI) inflows in the Baltic States by the European Commission. 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.
According to "Lithuania Tire Market Forecast & Opportunities, 2021", 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. Region wise, Vilnius County is the largest demand generator for tire in the country, followed Kaunas, Klaip?da, Šiauliai and Panev?žys 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
Why You Should Buy This Report?
- To gain an in-depth understanding of tire market in Lithuania
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tire companies, distributors and other stakeholders to align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- 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, distributors 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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