Hungary tyre market by type 2020 brochure

Hungary Tyre Market Forecast & Opportunities , 2020

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

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

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Vehicle Segment Sub-Segment Customer Segment

Passenger Car

Sedan

IndividualsSUV & MPV

Hatchback

Light Commercial Vehicle NATransport Companies, Logistics, Small Business Entrepreneurs, Government

Medium & Heavy Commercial Vehicle

TruckLogistics, SMEs

Bus

OTR (Off-The-Road) Vehicle

Industrial Equipment VehiclesFarmers, Mining Companies, Construction

Companies

Agricultural Equipment Vehicle

Two-WheelersMotorcycles

IndividualsScooters

Global tyre supplier Michelin defines tyre 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

Product Definition

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

S. No. Contents

1. Research Methodology

2. Analyst View

3. Product Overview

4. Hungary Tyre Production Overview

5. Hungary Tyre Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value & Volume

5.2. Market Share & Forecast

5.2.1. By Vehicle Type

5.2.2. By Company

5.2.3. By Region

5.2.4. By Demand Category

6. Hungary Passenger Car (PC) Tyre Market Outlook






7. Hungary Medium & Heavy Commercial Vehicle (M&HCV) Tyre Market Outlook





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S. No. Contents


8. Hungary Light Commercial Vehicle (LCV) Tyre Market Outlook





9. Hungary Off-The-Road (OTR) Tyre Market Outlook






10. Hungary Two-Wheeler (2W) Tyre Market Outlook






11. Import-Export Analysis

12. Market Dynamics

12.1. Drivers

12.2. Challenges

13. Market Trends & Developments

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S. No. Contents

14. Policy & Regulatory Landscape

15. Hungary Economic Profile

16. Competitive Landscape

16.1. Bridgestone Hungary Kft.

16.2. Michelin Hungária Abroncsgyártó Kft.

16.3. Hankook Tire Budapest Kereskedelmi Kft.

16.4. Continental Hungaria Kft.

16.5. Apollo Vredestein Kft.

16.6. Kumho Tire Co., Inc

16.7. Goodyear Dunlop Tires Hungary Trading Limited Liability Co.

16.8. Pirelli Hungary Tyre Trading and Services Ltd

16.9. Nokian Tyres P.L.C.

16.10. Cooper Tire & Rubber Co

17. Strategic Recommendations

18. About Us & Disclaimer

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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 with leadingtyre suppliers based in Hungary, and subsequently, verified information from major distributors ofautomobile tyres 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 tyre market in Hungary.

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, which 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

1Goodyear Dunlop Tires Hungary Trading

Limited Liability Co.

2 Pirelli Hungary Tyre Trading and Services Ltd

3 Bridgestone Hungary Kft

4 Continental Hungaria Kft.

5 Michelin Hungária Abroncsgyártó Kft.

Few of Sources of Secondary Research

S. No. Secondary Source

1European Tyre and Rubber Manufacturers

Association (ETRMA)

2European Automotive Manufactures

Association (ACEA)

3 Eurostat

4International Organization of Motor Vehicle

Manufacturers (OICA)

6 Hungarian Tire Association (HTA)

7European Association of Motorcycle

Manufacturers (ACEM)

8 World Bank


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For the preparation of Hungary tyre report, bottom up model has been used, which has been later oncross validated by using top down approach.

Tyre Production

TechSci Research has mapped production capacities of almost all tyre manufacturing unit in Hungary.With the help of a series of primary research surveys of all the major tyre manufacturing companies inHungary, followed by cross validation through secondary sources such as company annual reports andindustry associations. TechSci Research has been successful in identifying the production capacities ofeach tyre plant as well as their respective plant locations, establishment dates and type of tyresmanufactured.

Vehicle Production, Sales & Fleet Size

The basic data points that are needed for the analysis of Hungary tyre market are the historical, currentand forecast figures for vehicle production, sales and fleet size. Data for fleet size has been extractedthrough various government sources and credible data portals. TechSci Research has maintained adatabase for vehicle production, sales and fleet size for each vehicle segment (passenger cars, lightcommercial vehicle, medium & heavy commercial vehicles, two-wheelers & off-the-road vehicles), which isregularly updated through various primary research surveys and secondary sources such as automotiveassociations & government publications.

Tyre Demand

OEM Tyre Sales

OEM tyre demand has been calculated by multiplying the average number of tyres per vehicle to the totalnumber of vehicle produced. For example, for two-wheeler segment, the average number of tyres areconsidered to be two and for passenger cars, the average number of tyres is five. Further, the averagenumber of tyres for light commercial vehicles (LCVs), medium & heavy commercial vehicles (M&HCVs)and off-the road (OTR) vehicles have been considered as 5, 7 and 4, respectively.


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Replacement Tyre Sales

Replacement tyre demand for 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 fleet withthe replacement tyre ratio, which is obtained by conducting a series of surveys with car owners tounderstand the frequency of tyre replacement as it varies for different countries depending upon factorssuch as road conditions, climate, economic and regulatory policies applicable in a country. The replacementratio is expressed as a percentage; and is considered to be 100% if one tyre is replaced per vehicle peryear.Example for Passenger Car replacement tyre demand calculation:

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

Total Tyre Market

Tyre Trade (Import & Export)

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

Passenger Car Fleet

Size (Volume)X

Replacement Ratio

(in %)X

No. of

Tyres=

Replacement Tyre

Demand

XXXX X X% X 4 = X Tyres

OEM Tyre Sales + Replacement Tyre Sales = Total Tyre Market


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

Tyre Brands Mapping

TechSci Research has mapped all tyre brands that are being sold in Hungary. TechSci Research hasgathered this information through primary and secondary research. The brands that are being sold inHungary are further segmented into “domestically manufactured” and “domestically non-manufactured”categories. The objective behind brand mapping is to understand more about the competition such asmarket share, current targets, future strategy, etc.

Forecast

For forecasting the numbers, we have used Time Series Analysis along with Regression Analysis, followedby judgmental analysis as certain factors would always differ in Hungary such as infrastructure condition,economic outlook, etc.

HS Code Description Tyre Type

XXXX Motor Cars Passenger Car Tyre

XXXX Bus or Lorries Tyres Commercial Vehicle Tyre

XXXX Motorcycle Tyre Two-Wheeler Tyre

XXXX Tyre Having a "Herring Bone"

OTR Tyre





XXXX Agriculture Tyre

XXXX Construction/Industrial Tyre

XXXX Construction/Industrial Tyre

XXXX Others Other Tyres

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

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Hungary Tyre Market to Grow at over 8% until 2020

Growing disposable income, expansion of agriculture & construction sectors and increasing foreigndirect investment to drive Hungary tyre market

According to TechSci Research report, “Hungary Tyre Market Forecast And Opportunities, 2020”, thecountry’s tyre market is projected to grow at over 8% during 2015 - 2020. Growth in the market isanticipated on account of increasing automobile sales, growing fleet size, favorable government policiesand foreign investments in the automotive sector. In 2014, the passenger car tyres segment accountedfor majority of the share in Hungary tyre market, followed by light commercial vehicle tyre, medium &heavy commercial vehicle tyre, two-wheeler tyre and OTR tyre segments.

Hankook, Bridgestone and Michelin operate their tyre manufacturing plants in the country, while globaltyre companies like Goodyear, Pirelli, Continental, Vredestein, etc., operate through their sales offices inHungary. Region-wise, in 2014, Central Hungary region accounted for the largest volume share in thecountry’s overall tyre sales, and this trend is expected to continue through 2020. Over the next fiveyears, OEM tyre segment is expected witness higher growth compared to the replacement tyre market.

“Though OEM segment is forecast to grow faster in the coming years, Hungary retread tyre market isanticipated to pick up pace over the next five years, backed by various technological advancements inthe manufacturing process, which are expected to boost consumer interest in employing these tyres.Considering this untapped potential, Bridgestone has already establishing its retread tyremanufacturing franchisee ‘Bandag’ in Mezőszilas, Hungary in 2011.” said Mr. Karan Chechi, ResearchDirector with TechSci Research, a research based global management consulting firm.

http://www.techsciresearch.com/report/hungary-tyre-market-forecast-and-opportunities-2020/235.html

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

Hungary Tyre Market Size, By Value (USD

Million), By Volume (Million Units), 2010-2020F

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Hungary Tyre Market Share, By Company, By Volume, 2014-2020F

12.01% 12.02% 12.03% 12.04% 12.05% 12.06% 12.07%

12.00% 12.10% 12.20% 12.30% 12.40% 12.50% 12.60%

15.00% 15.10% 15.20% 15.30% 15.40% 15.50% 15.60%

17.00% 17.10% 17.20% 17.30% 17.40% 17.50% 17.60%

18.00% 18.10% 18.20% 18.30% 18.40% 18.50% 18.60%

21.00% 21.10% 21.20% 21.30% 21.40% 21.50% 21.60%

2014 2015E 2016F 2017F 2018F 2019F 2020F

Hankook Continental MichelinGoodyear Bridgestone Others*

2014: X%

2020f: X% 2014: X% 2020F: X%

2014: X%2020F: X%

Western Transdanubia

Central Transdanubai

Southern Transdanubai

2014: X%

2020F: X%

2014: X% 2020F: X%

2014: X%2020F: X%

Southern Great Plain

Northern Great Plain

Northern Hungary

Hungary Tyre Market Share, By Region, By Volume, 2014 & 2020F

Hungary Off-The-Road Tyre Market Share, By

Demand Category, By Volume, 2010-2020F

10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%

50%55%

60%65%

70% 75%80%

85%90% 95% 100%

2010 2011 2012 2013 2014 2015E2016F2017F2018F2019F2020F

OEM Tyre Replacement Tyre

Hungary Light Commercial Vehicle Tyre Market, By Value

(USD Million), By Volume (Million Units), 2010-2020F

1 2 3 4 57 8 9 10 11 12

3 5 7 9 1115 17 19 21 23 25

2010 2011 2012 2013 2014 2015E 2016F 2017F 2018F 2019F 2020F

Value (USD Million) Volume (Million Units)

3 5 7 9 1115 17 19 21 23 25

2010 2011 2012 2013 2014 2015E 2016F 2017F 2018F 2019F 2020F

Value (USD Million) Volume (Million Units)

1 2 3 4 57 8 9 10 11 12

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A b o u t U s & D i s c l a i m e r

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About Us:

TechSci Research is a global market research and consulting company with offices in Canada, India and the UK . 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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Hungary tyre market by type 2020 brochure

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