Serbia Tire Market By Size, Share, Trends, and Forecast 2026 | TechSci Research

Summary

Report Description

Serbia tire market was valued USD0.15 billion in 2020 and is projected to be valued USD0.21 billion by 2026 on the back of increasing vehicle sales due to declining interest rates, which is leading to affordable automobile financing in the country. Furthermore, Serbia is a candidate for membership in the European Union and is one of the developing countries of the Balkan region. This is making the country a lucrative market for tire manufacturers. In addition to this, presence of most of the leading global automotive OEMs is also acting as a major growth factor for Serbia tire market. Moreover, most of the governments in the European countries, including Serbia, have imposed strict rules and regulations regarding the periodical use of winter tires and snow tires, which is strongly driving the tire market across the region due to the need for periodical change of tires. As per the government norms in Serbia, the automotive tires need to be changed in a periodical manner and must having minimum depth of the tread pattern of at least 4mm, which results in generating more tire demand in the replacement market.

The market is also witnessing several innovations in terms of technology and environment. For instance, rising awareness and concerns among people about environment is boosting the adoption of green tires. An increasing number of automobile owners are preferring to use green tires in their vehicles instead of conventional tires, and this trend is expected to gain higher traction in Serbian tire market in the coming years.

However, the spread of novel COVID-19 pandemic has created both a public health crisis and an economic crisis in Serbia. Due to the declaration of lockdown to stop the spreading of pandemic, almost all the automotive factories, showrooms and workshops were closed, witnessing a massive sales decline. According to Statistical Office of the Republic of Serbia (SORS), in April 2020, overall industrial production dropped by 17.6% and manufacturing by 20%. However, automobile market in Serbia has witnessed revival with an increase in the production and sales in third quarter of 2020 after a huge decline in first two quarters of 2020 due to COVID-19. This further resulted in increasing demand for tires from OEM as well as replacement market segments with an increasing number of people starting to travel more frequently and many offices resuming work from office premises from the third quarter of 2020.

Serbia tire market is segmented based on vehicle type, demand category, radial vs bias and region. Based on vehicle type, the market can be categorized into passenger car, LCV, M&HCV, OTR, and two-wheeler. Serbia tire market was dominated by the passenger car tire segment until 2020 which accounted around 90% of the tire sales in the country, followed by light commercial vehicle, Off-the-Road (OTR) and medium & heavy commercial vehicle segment.

Major companies operating in the Serbia tire market are Cooper Tire & Rubber Company Serbia d.o.o., Toyo Tire Serbia LLC, Bridgestone Corporation, Continental AG, Hankook Tire d.o.o., Goodyear Dunlop Sava Tires, doo, ELASTIKA PIRELLI SA, The Yokohama Rubber CO., LTD., Nokian Tyres PLC, and Michelin Tires, among others.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

Objective of the Study:

To analyze the historical growth and the market size of Serbia tire market from 2016 to 2020.
To estimate and forecast the market size of Serbia tire market from 2021 to 2026.
To classify and forecast Serbia tire market based on vehicle type, demand category, radial vs bias, company and region.
To identify drivers and challenges for Serbia tire market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Serbia tire market.
To identify and analyze the profile of leading players involved in the manufacturing tires in Serbia.

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To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of tire dealers operating in the country. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels and regional presence of all major tire suppliers across Serbia.

TechSci Research calculated the market size for Serbia tire using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, databases such as company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

Tire manufacturers, suppliers, distributors and other stakeholders
Vehicle manufacturing companies
Raw material suppliers
Associations, organizations, forums and alliances related to tires
Government bodies such as regulatory authorities and policy makers
Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as vehicle manufacturers, distributors and dealers, and policy makers. The study would also help the stakeholders to target the growing segments over the coming years, thereby aiding them in taking investment decisions and facilitating their expansion.

Report Scope:

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

Serbia Tire Market, By Vehicle Type:

o Passenger Car

o Two-Wheeler

o Medium & Heavy Commercial Vehicle (MH&CV)

o Light Commercial Vehicle (LCV)

o Off-The-Road Vehicle (OTR)

Serbia Tire Market, By Demand Category:

OEM
Replacement

Serbia Tire Market, By Radial Vs Bias:

Radial
Bias

Serbia Tire Market, By Region:

Grad Beograd
Vojvodine
Summative I Zapadne Srbije
Južne I Istočne Srbije
Kosovo I Metohija

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Serbia tire market.

Available Customizations:

With the given market data, TechSci Research offers customizations according 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).

Profit Margin Analysis

Profit margin analysis in case of direct and indirect sales channel.

Table of content

1. Product Overview

2. Research Methodology

3. Voice of Customer

3.1. Factors Influencing Purchase Decision

3.2. Influencer of Purchase

3.3. Aided/ Unaided Brand Recall

4. Serbia Tire Production Overview

5. Executive Summary

6. Serbia 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, LCV, M&HCV, OTR, and Two-wheeler)

6.2.2. By Radial Vs Bias

6.2.3. By Demand Category (OEM Vs. Replacement)

6.2.4. By Region

6.2.5. By Company (2020)

6.3. Market Map – By Vehicle Type

6.4. Market Map – By Region

7. Serbia Passenger Car 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 Radial Vs Bias

7.2.3. By Demand Category

7.3. Market Map – By Vehicle Type

8. Serbia Light Commercial Vehicle (LCV) 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 Radial Vs Bias

8.2.3. By Demand Category

8.3. Market Map – By Vehicle Type

9. Serbia Medium & Heavy Commercial Vehicle (M&HCV) 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 Radial Vs Bias

9.2.3. By Demand Category

9.3. Market Map – By Vehicle Type

10. Serbia Two-Wheeler Tire Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value & Volume

10.2. Market Share & Forecast

10.2.1. By Vehicle Type

10.2.2. By Radial Vs Bias

10.2.3. By Demand Category

10.3. Market Map – By Vehicle Type

11. Serbia Off-The-Road (OTR) Tire Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value & Volume

11.2. Market Share & Forecast

11.2.1. By Vehicle Type

11.2.2. By Radial Vs Bias

11.2.3. By Demand Category

11.3. Market Map – By Vehicle Type

12. Import-Export Analysis

13. Impact of COVID-19 on Serbia Tire Market

14. Market Dynamics

14.1. Drivers

14.2. Challenges

15. Market Trends and Developments

16. Policy and Regulatory Landscape

17. Serbia Economic Profile

18. Competitive Landscape

18.1. Cooper Tire & Rubber Company Serbia d.o.o.

18.2. Toyo Tire Serbia LLC

18.3. Bridgestone Corporation

18.4. Continental AG

18.5. Hankook Tire d.o.o.

18.6. Goodyear Dunlop Sava Tires, doo

18.7. ELASTIKA PIRELLI SA

18.8. The Yokohama Rubber Co., Ltd.

18.9. Nokian Tyres plc

18.10. Michelin Tyres plc

19. Strategic Recommendations

20. About Us & Disclaimer

Figures and Tables

Figure 1: Serbia Tire Market - Factors Influencing Purchase Decision (N=100)

Figure 2: Serbia Tire Market – Influencer of Purchase (N=100)

Figure 3: Serbia Tire Market – Aided Brand Recall (N=100)

Figure 4: Serbia Tire Market – Unaided Brand Recall (N=100)

Figure 5: Serbia Tire Market Size, By Value (USD Billion), By Volume (Million Unit), 2016-2026F

Figure 6: Serbia Passenger Car Production, By Volume (Thousand Units), 2015-2019

Figure 7: Serbia Tire Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 8: Serbia Tire Market Share, By Radial Vs Bias, By Volume, 2016-2026F

Figure 9: Serbia Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 10: Serbia Tire Market Share, By Region, By Volume, 2016-2026F

Figure 11: Serbia Tire Market Share, By Company, By Volume, 2020

Figure 12: Serbia Tire Market Map, By Vehicle Type- Market Size (USD Billion) & Growth Rate (%)

Figure 13: Serbia Tire Market Map, By Region- Market Size (USD Billion) & Growth Rate (%)

Figure 14: Serbia Passenger Car Tire Market Size, By Value (USD Billion), By Volume (Million Unit), 2016-2026F

Figure 15: Serbia Passenger Car Fleet Size, By Volume (Thousand Units) 2015-2019

Figure 16: Serbia Passenger Car Tire Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 17: Serbia Passenger Car Tire Market Share, By Radial Vs Bias, By Volume, 2016-2026F

Figure 18: Serbia Passenger Car Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 19: Serbia Passenger Car Tire Market Map, By Vehicle Type- Market Size (USD Billion) & Growth Rate (%)

Figure 20: Serbia LCV Tire Market Size, By Value (USD Billion), By Volume (Million Unit), 2016-2026F

Figure 21: Serbia LCV Fleet Size, By Volume (Thousand Units) 2015-2019

Figure 22: Serbia LCV Tire Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 23: Serbia LCV Tire Market Share, By Radial Vs Bias, By Volume, 2016-2026F

Figure 24: Serbia LCV Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 25: Serbia LCV Tire Market Map, By Vehicle Type- Market Size (USD Billion) & Growth Rate (%)

Figure 26: Serbia M&HCV Tire Market Size, By Value (USD Billion), By Volume (Million Unit), 2016-2026F

Figure 27: Serbia M&HCV Fleet Size, By Volume (Thousand Units) 2015-2019

Figure 28: Serbia M&HCV Tire Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 29: Serbia M&HCV Tire Market Share, By Radial Vs Bias, By Volume, 2016-2026F

Figure 30: Serbia M&HCV Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 31: Serbia M&HCV Tire Market Map, By Vehicle Type- Market Size (USD Billion) & Growth Rate (%)

Figure 32: Serbia Two-Wheeler Tire Market Size, By Value (USD Billion), By Volume (Million Unit), 2016-2026F

Figure 33: Serbia Two-Wheeler Fleet Size, By Volume (Thousand Units) 2015-2019

Figure 34: Serbia Two-Wheeler Tire Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 35: Serbia Two-Wheeler Tire Market Share, By Radial Vs Bias, By Volume, 2016-2026F

Figure 36: Serbia Two-Wheeler Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 37: Serbia Two-Wheeler Tire Market Map, By Vehicle Type- Market Size (USD Billion) & Growth Rate (%)

Figure 38: Serbia OTR Tire Market Size, By Value (USD Billion), By Volume (Million Unit), 2016-2026F

Figure 39: Serbia OTR Fleet Size, By Volume (Thousand Units) 2015-2019

Figure 40: Serbia OTR Tire Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 41: Serbia OTR Tire Market Share, By Radial Vs Bias, By Volume, 2016-2026F

Figure 42: Serbia OTR Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 43: Serbia OTR Tire Market Map, By Vehicle Type- Market Size (USD Billion) & Growth Rate (%)

List of Tables

Table 1: Serbia Tire Production, By Company and Plant Location, 2020

Table 2: Serbia Tire Exports, By Value, 2015-2019 (USD Thousand)

Table 3: Serbia Tire Imports, By Value, 2015-2019 (USD Thousand)

Frequently asked questions

Which vehicle type generates the most demand in the country?

Passenger car segment among the other vehicle types has the most demand in the Serbia tire market. Due to increase in demand for personal transportation for daily commuting on account of COVID-19 pandemic, the sales of used and new passenger cars across the country are rising, which is expected to fuel the demand for aftermarket passenger car tires in the coming years.

Which demand category is leading in the Serbia tire market?

Replacement tires generate the most demand in the Serbia tire market owing to increasing fleet of passenger cars in the country.

Which region of the country had the most sales of tires in Serbia?

Due to the growing demand for passenger cars in Grad Beograd, the region witnessed the highest sales of tires in 2020 in terms volume and the same is expected in the forecast years as well. Moreover, the presence of an increasing number of on road vehicles is a major factor propelling the growth of the tire market in the region

Which are the top ten players in Serbia tire market?

Top ten companies operating in the Serbia tire market are Cooper Tire & Rubber Company Serbia d.o.o., Toyo Tire Serbia LLC, Bridgestone Corporation, Continental AG, Hankook Tire d.o.o., Goodyear Dunlop Sava Tires, doo, ELASTIKA PIRELLI SA, The Yokohama Rubber CO., LTD., Nokian Tyres PLC, and Michelin Tires.

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Press Release

Serbia Tire Market to be Valued at USD 0.21 Billion by 2026

Oct, 2021

Increasing demand for passenger cars & commercial vehicles and improving economy are some of the key factors driving the growth of Serbia tire market in the coming years.

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