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, Klaipėda, Šiauliai and Panevėžys 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.
Report Methodology
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.