Hungary, a Central European automotive manufacturing hub, houses several major global automotive companies such as Daimler, Audi, GM, Suzuki, Hankook, Bridgestone and Continental. Subsequent to the advent of global recession in 2008, Hungary’s economic revival has been largely smooth due to continuing growth in the country’s foreign direct investments. Among the country’s 19 counties, Budapest, Fejér and Komárom-Esztergom are the major hubs in terms of automotive manufacturing and tire production. Budapest is a key center for hosting International auto shows, festivals and exhibitions every year. In March 2014, Auto, Motor, and Tuning show was organized under the name Hungexpo in Budapest. Despite being the economic focal point, the residential real estate and construction markets in Budapest have witnessed a decline over the recent years, which has impacted the country’s OTR vehicle tire market.
According to TechSci Research report, “Hungary Tyre Market Forecast & Opportunities, 2019”, the tire market in Hungary is projected to grow at a CAGR of about 9% during 2014-19. In 2013, passenger car tires accounted for the largest share in the Hungary tire market, followed by the commercial vehicle tire segment. Two wheelers constitute the lowest market share, as they are not manufactured but only imported into the country. Since 2007, key tire manufacturers have undertaken special interest in Hungary’s growing automotive export market and are expected to continue expanding their tire production capacities significantly over the next five years in order to address growing tire demand. “Hungary Tyre Market Forecast & Opportunities, 2019”report elaborates following particulars:
Why You Should Buy This Report?
- Hungary Tire Market Size, Market Share & Forecast
- Segmental Analysis - PCR, LCV, HCV, OTRs, etc.
- Price Point Analysis and Tire Market Dynamics
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Report Methodology The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with automotive tire companies operating in Hungary. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
- To gain an in-depth understanding of the Hungary’s Tire market.
- To identify the on-going trends and anticipated growth in the coming years.
- To help industry consultants, automotive manufacturers and dealers 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.