Turkey, one of the major centers for trade in Asia, is increasingly offering opportunities to leading automobile manufacturers for increasing their penetration across Europe, Central Asia and the Middle East. Leading automobile players such as Ford, Toyota, Renault, Fiat, Chrysler, Opel, Honda, etc. are leveraging Turkey’s geographical suitability and favorable trade policies to expand their presence across the country and other neighboring regions. After being hit by global recession and Eurozone crisis, the country’s automobile sector is witnessing growth revival on account of favorable tax and investment policies of Turkish government. Increase in automotive production in the country is consequently fueling the demand for tires in Turkey. The existing fleet of around 8.51 million units of passenger cars in the country, coupled with new passenger car sales, is driving growth in the tire segment.
According to “Turkey Tyre Market Forecast & Opportunities, 2019”, the Turkish tire industry is dominated by passenger car tire segment. Many leading automobile manufacturers in Turkey are expanding their production capacities as well as establishing new production facilities in the country. The Turkish tire industry is forecast to grow at a CAGR of around 8% during 2014-19. The tire demand in the country is met by domestic tire manufacturing as well as through tire imports. Despite expansion of domestic tire manufacturing operations, the country still relies heavily on imports for addressing its overall domestic tire demand. In 2013, Japan remained the leading tire exporter to the Turkish tire market, followed by Germany. Other countries that were among the major tire exporters to Turkey in 2013 include Slovakia, Romania, Poland and France. Though companies are taking steps to expand domestic tire production, tire imports are projected to further grow in the country during the forecast period, posing significant threat to growth of domestic tire manufacturing companies. “Turkey Tyre Market Forecast & Opportunities, 2019” report elaborates following aspects of tire market in Turkey:
Why You Should Buy This Report?
- Turkey Tire Market Size, Share & Forecast
- Segmental Analysis – Passenger Car, Two-Wheelers, Commercial and OTR
- Changing Market Trends & Emerging Opportunities
- Policy & Regulatory Landscape
- Competitive Landscape & Strategic Recommendations
Report Methodology The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tire manufacturers and channel partners. Secondary research included an exhaustive search of relevant publications such as company annual reports, financial reports and proprietary databases.
- To gain an in-depth understanding of tire industry in Turkey
- To identify the on-going trends and anticipated growth in the coming years
- To help industry consultants, tire manufacturers, distributors and other stakeholders to align their market-centric strategies
- 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