Baltic tire market is anticipated to grow at a CAGR of 2.89% through the forecast period to reach 2826.68 thousand units by 2026 because of growing demand for passenger cars and increasing vehicle fleet across the Baltic region. The expanding fleet size of Baltic countries is one of the primary reasons driving the automobile tire industry. Owing to technical developments and competition, the average life of automobiles in the region has been improving, assisting the country's fleet size expansion. Furthermore, the expansion of the fleet is assisted significantly by rising automotive sales. The majority of the people in the region prefer to travel by personal automobile rather than via public transportation, hence there is a strong need for replacement tires throughout the region. Due to COVID-19, almost all automobile manufacturing, showrooms, and workshops were shut, and sales plummeted. According to a research released by the European Automobile Manufacturers Association in October 2020, output losses in the European Union due to factory closures were at least 4,024,036 motor cars between January 1 and September 30, 2020 (including passenger cars, trucks, vans, buses, and coaches for the 27 EU countries and the UK). This figure also reflects a sharp drop in automotive sales in the Baltic region, which has a direct influence on the region's OEM tire industry.

Baltic Tire market can be divided into four categories: vehicle type, demand category, tire type, and country. In terms of vehicle type, the passenger car segment dominates the tire market in the Baltic region, and is projected to continue to do so in the future. OTR tires, on the other hand, are predicted to grow at a faster rate than any other vehicle type. In terms of demand category, replacement tires have taken over the overall tire market in the Baltic region, and given that no OEMs are expected to open in the forecast period.

Based on tire type, radial tires hold a market share of over 90% and this trend is likely to continue throughout the forecast period. Better control, superior durability, and improved fuel efficiency, as well as increased weight carrying capability, are the main factors affecting radial tire sales in the Baltic region. Based on country, Lithuania has a market share of approximately 47% in Baltic countries in 2020, and it is predicted to grow in the forecast period due to increased demand for personal vehicles and population compared to other Baltic countries.

Major players operating in the Baltic Tire market are Bridgestone Europe NV/SA, Goodyear Dunlop Tires Baltic OÜ, Compagnie Générale des Établissements Michelin, Continental AG, Pirelli & S.P.A., Hankook Tire Co., Ltd., Yokohama Europe Gmbh, Kumho Tire Europe GmbH are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new product developments. Players operating in the market are improving R&D capabilities while enhancing operational efficiency to register positive growth.

Years considered for this report:

Historical Period: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

Objective of the Study:

  • To analyze the historical growth in market size of the Baltic Tire market from 2016 to 2020.
  • To estimate and forecast the market size of Baltic Tire market from 2021 to 2026 and growth rate until 2026.
  • To identify the dominant region or segment in the Baltic Tire market.
  • To identify drivers and challenges for the Baltic Tire market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Baltic Tire market.
  • To conduct pricing analysis for the Baltic Tire market.
  • To identify and analyze the profile of leading players operating in Baltic Tire market


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the Baltic region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels and presence of all major manufacturers across the Baltic region.

TechSci Research calculated the market size of Baltic Tire market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.


Key Target Audience:

  • Original equipment manufacturers, suppliers and other stakeholders
  • Research organizations and consulting companies
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to Baltic Tires

 

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Baltic Tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Baltic Tire Market, By Vehicle Type:
    • Passenger Car
    • Medium & Heavy Commercial Vehicle
    • Light Commercial Vehicle
    • OTR
    • Two-Wheeler

·         Baltic Tire Market, By Demand Category:

    • Replacement
    • OEM
  • Baltic Tire Market, By Tire Type:
    • Radial
    • Bias

·         Baltic Tire Market, By Country

o    Lithuania

o    Latvia

o    Estonia

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

 

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

1.       Product Overview

2.       Research Methodology

3.       Executive Summary

4.       Impact of COVID-19 on Baltic Tire Market

5.       Voice of Customer

5.1.    Aided and Unaided Brand Recall

5.2.    Factors Influencing Purchase Decision

5.3.    Brand Satisfaction Level

6.       Baltic Tire Market Outlook

6.1.    Market Size & Forecast

6.1.1.By Value & Volume

6.2.    Market Share & Forecast

6.2.1.By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy

Commercial Vehicle, Two-Wheeler, Three-Wheeler and OTR)

6.2.2.By Demand Category (OEM Vs. Replacement)

6.2.3.By Tire Type (Radial Vs. Bias)

6.2.4.By Company (2020)

6.2.5.By Country

6.3.    Product Market Map (By Vehicle Type and By Country)

7.       Lithuania Tire Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value & Volume

7.2.    Market Share & Forecast

7.2.1.By Vehicle Type

7.2.2.By Demand Category

7.2.3.By Tire Type

7.3.    Import and Export analysis

8.       Latvia Tire Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value & Volume

8.2.    Market Share & Forecast

8.2.1.By Vehicle Type

8.2.2.By Demand Category

8.2.3.By Tire Type

8.3.    Import and Export analysis

9.       Estonia Tire Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value & Volume

9.2.    Market Share & Forecast

9.2.1.By Vehicle Type

9.2.2.By Demand Category

9.2.3.By Tire Type

9.3.    Import and Export analysis

10.   Market Dynamics

10.1.                Drivers

10.2.                Challenges

11.   Market Trends & Developments

12.   Competitive Landscape

12.1.                Goodyear Dunlop Tires Baltic OÜ

12.2.                Bridgestone Europe NV/SA

12.3.                Continental AG

12.4.                Pirelli & S.P.A

12.5.                Nokian Tyres PLC

12.6.                Yokohama Europe Gmbh

12.7.                Compagnie Générale des Établissements Michelin

12.8.                Hankook Tire Co., Ltd.

12.9.                Toyo Tire Europe GmbH

12.10.             Kumho Tire Europe GmbH

13.   Strategic Recommendations

14. About Us & Disclaimer

  • Figure 1:         Baltic Tire Market – Aided Brand Recall (N=100)

    Figure 2:         Baltic Tire Market – Unaided Brand Recall (N=100)

    Figure 3:         Baltic Tire Market - Factors Influencing Purchase Decision (N=100)

    Figure 4:         Baltic Tire Market - Brand Satisfaction Level, By Lifetime (N=100)

    Figure 5:         Baltic Tire Market - Brand Satisfaction Level, By Traction (N=100)

    Figure 6:         Baltic Tire Market - Brand Satisfaction Level, By Frequency of Breakdown (N=100)

    Figure 7:         Baltic Tire Market - Brand Satisfaction Level, By Vehicle Compatibility (N=100)

    Figure 8:         Baltic Tire Market - Brand Satisfaction Level, By Discounts (N=100)

    Figure 9:         Baltic Tire Market - Brand Satisfaction Level (N=100)

    Figure 10:       Baltic Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

    Figure 11:       Baltic Region Passenger Cars & Commercial Vehicle Sales (Thousand Units) 2015-2019

    Figure 12:       Baltic Tire Market Share, By Vehicle Type, By Volume, 2016–2026F

    Figure 13:       Baltic Tire Market Share, By Demand Category, By Volume, 2016–2026F

    Figure 14:       Baltic Tire Market Share, By Tire Type, By Volume, 2016–2026F

    Figure 15:       Baltic Tire Market Share, By Company, By Volume, 2020

    Figure 16:       Baltic Tire Market Share, By Region, By Volume, 2016–2026F

    Figure 17:       Baltic Tire Market, Product Market Map on the Basis of Market Size (Thousand Units) & Growth Rate (%)

    Figure 18:       Baltic Tire Market, Product Market Map on the Basis of Market Size (Thousand Units) & Growth Rate (%)

    Figure 19:       Lithuania Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

    Figure 20:       Lithuania Region Passenger Cars & Commercial Vehicle Sales (Thousand Units) 2015-2019

    Figure 21:       Lithuania Tire Market Share, By Vehicle Type, By Volume, 2016–2026F

    Figure 22:       Lithuania Tire Market Share, By Demand Category, By Volume, 2016–2026F

    Figure 23:       Lithuania Tire Market Share, By Tire Type, By Volume, 2016–2026F

    Figure 24:       Lithuania Commercial Vehicle Tire Imports, By Value, 2016-2020 (USD Million)

    Figure 25:       Lithuania Passenger Car Tire Imports, By Value, 2016-2020 (USD Million)

    Figure 26:       Lithuania Two-Wheeler Tire Imports, By Value, 2016-2020 (USD Million)

    Figure 27:       Lithuania Commercial Vehicle Tire Exports, By Value, 2016-2020 (USD Million)

    Figure 28:       Lithuania Passenger Car Tire Exports, By Value, 2016-2020 (USD Million)

    Figure 29:       Lithuania Two-Wheeler Tire Exports, By Value, 2016-2020 (USD Million)

    Figure 30:       Latvia Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

    Figure 31:       Latvia Passenger Cars & Commercial Vehicle Sales (Thousand Units) 2015-2019

    Figure 32:       Latvia Tire Market Share, By Vehicle Type, By Volume, 2016–2026F

    Figure 33:       Latvia Tire Market Share, By Demand Category, By Volume, 2016–2026F

    Figure 34:       Latvia Tire Market Share, By Tire Type, By Volume, 2016–2026F

    Figure 35:       Latvia Commercial Vehicle Tire Imports, By Value, 2016-2020 (USD Million)

    Figure 36:       Latvia Passenger Car Tire Imports, By Value, 2016-2020 (USD Million)

    Figure 37:       Latvia Two-Wheeler Tire Imports, By Value, 2016-2020 (USD Million)

    Figure 38:       Latvia Commercial Vehicle Tire Exports, By Value, 2016-2020 (USD Million)

    Figure 39:       Latvia Passenger Car Tire Exports, By Value, 2016-2020 (USD Million)

    Figure 40:       Latvia Two-Wheeler Tire Exports, By Value, 2016-2020 (USD Million)

    Figure 41:       Estonia Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

    Figure 42:       Estonia Passenger Cars & Commercial Vehicle Sales (Thousand Units) 2015-2019

    Figure 43:       Estonia Tire Market Share, By Vehicle Type, By Volume, 2016-2026F

    Figure 44:       Estonia Tire Market Share, By Demand Category, By Volume, 2016-2026F

    Figure 45:       Estonia Tire Market Share, By Tire Type, By Volume, 2016-2026F

    Figure 46:       Estonia Commercial Vehicle Tire Imports, By Value, 2016-2020 (USD Million)

    Figure 47:       Estonia Passenger Car Tire Imports, By Value, 2016-2020 (USD Million)

    Figure 48:       Estonia Two-Wheeler Tire Imports, By Value, 2016-2020 (USD Million)

    Figure 49:       Estonia Commercial Vehicle Tire Exports, By Value, 2016-2020 (USD Million)

    Figure 50:       Estonia Passenger Car Tire Exports, By Value, 2016-2020 (USD Million)

    Figure 51:            Estonia Two-Wheeler Tire Exports, By Value, 2016-2020 (USD Million)