Press Release

Croatia Tire Market to Grow at 7% through 2021

Increasing urbanization, reviving vehicle fleet size coupled with growth in industrial and agricultural sector to drive Croatia tire market during 2016-2021

According to TechSci Research report, Croatia Tire Market Forecast & Opportunities, 2011-2021, the country’s tire market is projected to grow at a CAGR of over 7% during 2016-2021 on account of introduction of new vehicle models, expanding vehicle fleet and increasing purchasing power. Passenger car tire segment, followed by commercial vehicles and off-the-road vehicles, dominated Croatia tire market with a cumulative volume share of over 90%, during 2011-2015. On account of easy financing and growing tourism sector, demand for two-wheelers is witnessing growth in the country. As a result, Croatia two-wheelers tire market grew at a CAGR of more than 20% over the last five years.

Browse 6 market data Tables and 26 Figures spread through 84 Pages and an in-depth TOC on "Croatia Tire Market"

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Several government initiatives including Strategy for Development of Entrepreneurship 2013–2020, to promote entrepreneurship and for sustained development of SMEs in Croatia, are expected to aid revival of the country’s economy in the coming years. As of 2015, Croatia Proper and Dalmatia region dominated the region’s tire market with a combined volume share of over 75% in 2015. Widespread presence of well-established network of dealers and distributors of leading global players such as Bridgestone, Goodyear, Yokohama, Michelin, etc. is further increasing the competition in the country’s tire market.

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Due to lack of manufacturing facilities, the automotive sector in Croatia has been largely dependent on imports from other countries. “Croatian is expected to attract huge foreign investments from various countries across the European region in coming years. Moreover, government spending in the construction and infrastructure sector of the country is also expected to grow over the next five years. This is expected to significantly boost demand for commercial vehicles as well as commercial vehicle tires in Croatia during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Croatia Tire Market Forecast & Opportunities, 2021” has analyzed the potential of Croatia tire market and provided statistics & information on market size, consumer behavior and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry. 

 

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Increasing urbanization, reviving vehicle fleet size coupled with growth in industrial and agricultural sector to drive Croatia tire market during 2016-2021

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