greece tire (tyre) market forecast 2021 - brochure

Greece Tire Market Forecast & Opportunities , 2021

M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

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T a b l e o f C o n t e n t s

S. No. Contents

1. Product Overview

2. Research Methodology

3. Analyst View

4. Greece Tire Market Outlook

4.1. Market Size & Forecast

4.1.1. By Value & Volume

4.2. Market Share & Forecast

4.2.1.By Vehicle Type (Passenger Car, Two-Wheeler, Light Commercial Vehicle, Off-the-Road and Medium & Heavy Commercial Vehicle)

4.2.2. By Company

4.2.3. By Region

5. Greece Passenger Car (PC) Tire Market Outlook




5.2.1.By Vehicle Type (Small & Medium, Sports Utility Vehicle (SUV) & Multi Purpose Vehicle (MPV) & Sedan)

6. Greece Two-Wheeler Tire Market Outlook




6.2.1. By Vehicle Type (Motorcycle & Moped)

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S. No. Contents

7. Greece Light Commercial Vehicle (LCV) Tire Market Outlook



8. Greece Off-The-Road (OTR) Tire Market Outlook




8.2.1. By Vehicle Type (Agricultural Vehicle & Construction, Mining & Industrial Vehicle)

9. Greece Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook




9.2.1.By Vehicle Type (Medium Commercial Vehicles (MCV) Vs. Heavy Commercial Vehicles (HCV))

10. Import-Export Analysis

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Increasing Online Tire Sales

12.2. Growing Demand for OTR Tires

12.3. Surging Chinese Tire Penetration

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S. No. Contents

12.4. Declining Tire Imports

12.5. Dominance of Foreign Tire Manufacturers

13. Policy & Regulatory Landscape

14. Greece Economic Profile

15. Competitive Landscape

15.1. Elastika Michelin A.E

15.2. Bridgestone Europe NV/SA

15.3. Goodyear Dunlop Tires Hellas SAIC

15.4. Continental AG

15.5. Elastika Pirelli C.S.A.

15.6. Hankook Tire Company Ltd.

15.7. Cooper Tire & Rubber Company

15.8. Yokohama Rubber Co., Ltd

15.9. Kumho Tire Italia

15.10. Toyo Tire and Rubber Co., Ltd.

16. Strategic Recommendations

17. About Us & Disclaimer

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P r o d u c t O v e r v i e w

Product Definition

Global tire supplier Michelin defines tire as, “A precisely engineered assembly of rubber,chemicals, fabric, and metal, designed to provide traction, cushion road shock andcarry a load under varying conditions.”

Classification According to Vehicle Type

Vehicle Segment Sub-Segment Customer Segment

Passenger Car

Small & Medium Cars

IndividualsSedan

Sports Utility Vehicle (SUV) & Multi Purpose Vehicle (MPV)

Two-Wheeler

Mopeds

Individuals

Motorcycles

Light Commercial Vehicle -Transportation & Logistics, Small

Medium Enterprises (SMEs)

Off-the-Road (OTR) Vehicle

Industrial Equipment VehicleFarming, Mining & Quarrying

CompaniesAgricultural Equipment Vehicle

Medium & Heavy Commercial VehicleMedium Commercial Vehicle (MCV) Transport Companies, Logistics &

Cargo

Heavy Commercial Vehicle (HCV)

R e s e a r c h M e t h o d o l o g y

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Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys withleading tire suppliers based in Greece, and subsequently, verified information from major distributors ofautomobile tires in the country. We also put through an exhaustive search of credible paid databasessuch as Business Week, Factiva, Hoovers, etc., including our internal database. Our team of analysts hasthen prudently evaluated all the collected information and presented the same in chronological order todepict a meaningful and clear picture of the tire market in Greece.

While compiling the data, we have also cross checked all the collected information from multiple sourcesand data warehouses, so as to present the most accurate and precise information of the concernedindustry. We use innovative business model that focuses on improving productivity, while ensuringcreation of high-quality reports. The reports are prepared with in-depth primary research, followed byexhaustive secondary research.

Primary Research - Companies Interviewed

S.

No.Company Name

1. Elastika Michelin A.E

2. Goodyear Dunlop Tires Hellas SAIC

3. Bridgestone Europe NV/SA

4. Elastika Pirelli C.S.A.

5. Yokohama Scandinavia AB

Few of Sources of Secondary Research

S.

No.Secondary Source

1. Central Statistics Bureau (CSB)

2.Association of Motor Vehicle Importers

Representatives (AMVIR)

3.European Automobile Manufacturers

Association (ACEA)

4.International Organization of Motor Vehicle

Manufacturers (OICA)

5. World Bank

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For the preparation of Greece tire report, bottom up model has been used, which has been later on cross

validated by using top down approach.

Tire Production

As of 2015, there are no tire manufacturing facility in Greece.

Vehicle Sales & Fleet Size

The basic data points that are needed for the analysis of Greece tire market are the historical, current

and forecast figures for vehicle sales and fleet size. As the country does not produce vehicles, data for

fleet size has been extracted through various government sources and credible data portals. TechSci

Research has maintained a database for vehicle sales and fleet size for each vehicle segment (passenger

cars, light commercial vehicle, medium & heavy commercial vehicles, two-wheelers & off-the-road

vehicles), which is regularly updated through various primary research surveys and secondary sources

such as automotive associations & government publications.

Tire Demand

OEM Tire Sales

There is no OEM tire demand, due to absence of any automobile manufacturing facility in Greece. 7


© TechSci Research

Replacement Tire Sales

Replacement tire demand of a particular country is directly dependent on country’s vehicle fleet size andhistorical vehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleetwith the replacement tire ratio, which is obtained by conducting a series of surveys with car owners tounderstand the frequency of tire replacement as it varies for different countries depending upon factorssuch as road conditions, climate, economic and regulatory policies applicable in a country. Thereplacement ratio is expressed as a percentage; and is considered to be 100% if one tire is replaced pervehicle per year.

Example for passenger car replacement tire demand calculation:

The calculated replacement tire demand data is further analyzed by TechSci Research through Delphitechnique i.e. multiple rounds of telephonic interviews were conducted with tire companies/dealers inGreece. The information thus gathered through primary interviews was cross-verified through industryexperts and secondary sources such as annual reports and paid databases to generate meaningfulresults.

Total Tire Market

Tire Trade (Imports & Exports)

TechSci Research has analyzed tire imports and exports in Greece. The data has been gathered throughgovernment agencies and credible paid databases. The total tire trade has been segmented in accordancewith below mentioned HS codes:

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Passenger Car Fleet

Size (Volume)X

Replacement Ratio

(in %)X

No. of

Tires=

Replacement Tire

Demand

X X X% X 4 = X Tires

OEM Tire Sales + Replacement Tire Sales = Total Tire Market

© TechSci Research

The import and export figures for each HS Code have been depicted in Value (USD Million) and Volume(Million Units).

Tire Brands Mapping

TechSci Research has mapped all tire brands being sold in Greece. TechSci Research has gathered thisinformation through primary and secondary research. The brands that are being sold in Greece arefurther segmented into “domestically manufactured” and “domestically non-manufactured” categories.The objective behind brand mapping is to understand more about the competition such as market share,current targets, future strategy, etc.

Forecast

For forecasting the numbers, we have used time series analysis along with regression analysis, followedby judgmental analysis. 9


HS Code Description Tire Type

XXXX Motor Cars Passenger Car Tire

XXXX Bus or Lorries Tire Commercial Vehicle Tire

XXXX Motorcycle Tire Two-Wheeler Tire

XXXX Tire Having a "Herring Bone" OTR Tire

XXXX Tire Having a "Herring Bone"




XXXX Agriculture Tire

XXXX Construction/Industrial Tire

XXXX Construction/Industrial Tire

XXXX Others Other Tires

I n d u s t r y B r i e f

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Greece Tire Market to Reach € 3.4 Billion by 2021

According to recently released TechSci Research report, “Greece Tire Market Forecast & Opportunities, 2021”, tiremarket in Greece is projected to cross US$ 3.4 billion (Euro 3 Bn) by the end of 2021. Owing to the Eurozone crisis, thecountry’s economy witnessed severe setbacks over the last few years, with almost all major industries, includingautomotive, registering a considerable decline during 2011 - 2015. However, owing to several bailout packages by theEuropean Union and the International Monetary Fund (IMF) coupled with the introduction of various favorablegovernment initiatives, the country’s tire market is expected to revive over the next five years.

Greece’s motorization rate has been quite stagnant over the last few years, with the same standing at 583 per 1,000inhabitants in 2013 to 582 per 1,000 inhabitants in 2014. Moreover, the automotive fleet (including passenger cars &commercial vehicle) of the country also shrunk from 6,552 thousand units in 2011 to 6,456 thousand units in 2015.However, the scenario is expected to change over the next five years, and one of the key reasons forecast to contributeto the growth revival in the country’s tire market is booming tourism sector. As per the World Travel & Tourism Council,the contribution of travel & tourism sector in the country’s GDP was around 7% in 2014, which amounts to around US$13 billion.

Passenger car segment is forecast to dominate Greece tire market over the next five years, owing to increasingpurchasing power and rising number of nuclear families in the country. Region-wise, in 2015, Northern Greece regionaccounted for the largest volume share in the country’s tire market, and the same trend is anticipated to continuethrough 2021. Few of the major companies operating in Greece tire market include Michelin, Bridgestone, Goodyear,Continental and Pirelli, among others.

“Due to lack of automobile manufacturing plants in the country, the country’s automotive market is entirely dependenton imports from European and Asian manufacturers. The country’s vehicle fleet is dominated by the passenger carsegment. As a result, over three-fourths of the tire demand emanating in the country is accounted for by the passengercar tire segment.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based globalmanagement consulting firm.

https://www.techsciresearch.com/report/greece-tire-market-forecast-opportunities-2021/725.html

S a m p l e D a t a - S n a p s h o t

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Greece Tire Market Size, By Value (USD Million), By

Volume (Thousand Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 123 5 7 9 11 15 17 19 21 23 25

2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F

Value (USD Billion) Volume (Million Units)

5% 5% 5% 5% 5% 5% 5%10% 10% 10% 10% 10% 10% 10%

15% 15% 15% 15% 15% 15% 15%

20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%

25% 25% 25% 25% 25% 25% 25%

30% 30% 30% 30% 30% 30% 30%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Michelin Bridgestone Goodyear Continental Others* Pirelli

Greece Tire Market Share, By Company, By Volume, 2015-2021F

Greece Tire Market Share, By Region, By Volume, 2015-2021F

1% 1% 1% 1% 1% 1% 1%4% 4% 4% 4% 4% 4% 4%

9% 9% 9% 9% 9% 9% 9%

14% 14% 14% 14% 14% 14% 14%

19% 19% 19% 19% 19% 19% 19%

24% 24% 24% 24% 24% 24% 24%

29% 29% 29% 29% 29% 29% 29%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Ionian islands Aegean Islands Central Greece Peloponnese

Crete Attica Northern Greece

Greece Passenger Car Tire Market Size, By Value (USD

Million), By Volume (Thousand Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 123 5 7 9 11 15 17 19 21 23 25

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

Value (USD Billion) Volume (Million Units)

PC Tires, 25.00%

CV Tires, 25.00%

OTR Tires, 25.00%

Two-Wheeler Tires, 25.00%

Greece Tire Imports Share, By

Vehicle Type, By Value, 2015

PC Tires, 25.00%

CV Tires, 25.00%

OTR Tires, 25.00%

Two-Wheeler Tires, 25.00%

Greece Tire Exports Share, By

Vehicle Type, By Value, 2015

Greece Passenger Car Tire

Imports, By Value, 2011-2015

(USD Million)

12

34

5

2011 2012 2013 2014 2015

Greece Passenger Car Tire

Exports, By Value, 2011-2015

(USD Million)

12

34

5

2011 2012 2013 2014 2015

30% 30% 30% 30% 30% 30% 30%

70% 70% 70% 70% 70% 70% 70%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Motorcycles Mopeds

Greece Two-Wheeler Tire Market Share, By

Vehicle Type, By Volume, 2015-2021F

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About Us

TechSci Research is a global market research and consulting company with offices in the US, the UK and India. TechSci Research

provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on

improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both

industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional

and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich

evaluation of the opportunities available in the market.

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Disclaimer

The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made thatit is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sourcesincluding which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of anyinformation and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that ithas no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can changewithout notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage ofthe same for purpose other than internal will require prior approval of TechSci Research.

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