Romania Tire (Tyre) Market 2021 - brochure

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

Romania Tire Market Forecast & Opportunities , 2021

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

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

Product Definition

Vehicle Segment Sub-Segment Customer Segment

Passenger Car

Sedan

IndividualsHatchback

SUV

Combi

Light Commercial Vehicle (LCVs)

Pickups

Logistics, Small Business Entrepreneurs, etc.

Light Trucks

Mini Bus

Medium and Heavy Commercial Vehicle (M&HCV’s)

MCVTransport Companies, Logistics, Small Business Entrepreneurs HCV

OTR

Agriculture equipment vehiclesFarmers, Construction and Mining Companies, Military and Adventure

purposes, Sports & Racing

Industrial equipment vehicles (include Mining equipment,

construction equipment, others)

Two-WheelerMotorcycles and Scooters

IndividualsMopeds

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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. Romania Tire Production Overview

5. Romania Tire 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 (OEM Vs Replacement)

6. Romania Passenger Car (PC) Tire Market Outlook






7. Romania Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook



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S. No. Contents



8. Romania Light Commercial (LCV) Tire Market Outlook





9. Romania Off-the-Road (OTR) Tire Market Outlook






10. Romania Two-Wheeler (2W) Tire Market Outlook





11. Import-Export Analysis

12. Market Dynamics

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S. No. Contents

12.1. Drivers

12.2. Challenges

13. Market Trends & Developments

13.1. Increasing Online Tire Sales

13.2. Growth in Retread Tire Market

13.3. Winter Tire Penetration

13.4. Increasing Penetration of Chinese Tires

13.5. Growing Tire Exports

14. Policy & Regulatory Landscape

15. Romania Economic Profile

16. Competitive Landscape

16.1. SC Continental Automotive Products S.R.L.

16.2. Michelin Romania S.A.

16.3. S.C. Pirelli Tyres Romania S.r.l.

16.4. Eurotire Plant SA

16.5. Goodyear Dunlop Tires Romania S.R.L.

16.6. Bridgestone România S.R.L.

16.7. Toyo Tire Europe GmbH

16.8. Hankook Tyre Co. Ltd.

16.9. Yokohama Rubber Co. Ltd.

16.10. Nokian Tyres PLC

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S. No. Contents

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

A

C

B

Primary Research

Company Analysis

Desk Research

Identifying Key Opinion

Leaders

Questionnaire Design

In-depth Interviews

Market Participants

Key Strengths

Tire Portfolio

OEM Tie-ups

Recent

Developments

Market Changing

Aspects/Dynamics

Government

Policies

Final Conclusion

LinkedIn TechSci Internal

database

Factiva Hoovers

Paid Sources

Company Website Company Annual

Reports White Paper Study Financial Reports Investor

Presentations Regulatory Body, Associations, etc.

Secondary Research

Primary Research

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights

BusinessSolution

•In-depth secondary research was used todetermine top players in Romania tire market,overall market size and to identify topautomobile tire manufactures.

Market Profiling

•In order to conduct industry experts interviews,TechSci formulated a detailed questionnaire.

Formulating Questionnaire

•List of industry players (manufacturers),distributors, retailers, and industry specialistswas developed.

Developing list of respondents

•TechSci conducted interviews with industryexperts, industry players, for data collection andverification.

Data Collection

•Data obtained as a result of primary andsecondary research was validated throughrigorous triangulation.

Data Validation

•The data was scrutinized using MS-Excel andstatistical tools such as Time Series analysis etc.to obtain qualitative and quantitative insightsabout the Romania tire market.

Data Analysis

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Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leadingtire companies operating in Romania, and subsequently verified information from majordealers/distributors of automobile tires in the country. We also put through an exhaustive search ofcredible paid databases such as Business Week, Factiva, Hoovers, etc., including our internal database.Our team of analysts has then prudently evaluated all the collected information and presented the samein chronological order to depict a meaningful and clear picture of the tire market in Romania.

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

1 Michelin Romania S.A.

2 Bridgestone România S.R.L.

3 Hankook Tyre Co. Ltd.

4 Nokian Tyres PLC

5 Eurotire Plant SA

Few of Sources of Secondary Research

S. No. Secondary Source

1European Tyre and Rubber Manufacturers

Association (ETRMA)

2European Automotive Manufactures

Association (ACEA)

3European Association of Motorcycle

Manufacturers (ACEM)

4International Organization of Motor Vehicle

Manufacturers (OICA)

5 National Bank of Romania

6 Romania, Ministry of Transport

7 World Bank

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For the preparation of Romania tire report, bottom-up model has been used, which has been later crossvalidated by using top down approach.

Vehicle Sales & Fleet Size

The basic data points that are needed for the analysis of Romania tire market are the historical, currentand forecast figures for vehicle sales and fleet size. The data for vehicle sales and fleet size has beenextracted through various secondary sources and credible data portals. TechSci Research has alsomaintained a database for vehicle sales and fleet size for each vehicle segment (passenger cars, lightcommercial vehicles, medium & heavy commercial vehicles, two-wheelers, three-wheelers & off-the-roadvehicles), which is regularly updated through various primary research surveys and secondary sourcessuch as automotive associations & government publications.

Vehicle Production

TechSci has gathered vehicle production data from credible sources such as SIAM and OICA. TechSciResearch has also maintained a database for vehicle production for each vehicle segment (passengercars, light commercial vehicles, medium & heavy commercial vehicles, two-wheelers, three-wheelers &off-the-road vehicles), which is regularly updated through various primary research surveys andsecondary sources such as automotive associations & government publications.

Tire Demand

OEM Tire Sales

OEM tire demand in Romania is directly dependent on country’s vehicle production. The OEM demand istherefore extracted by multiplying the vehicle produced with the number of tires fitted in the vehicle. Forexample, in case of passenger car, five tires are fitted by the OEM during manufacturing process.

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Tire Demand

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 fleet withthe 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. The replacementratio is expressed as a percentage. For example, in case of passenger cars, replacement ratio is consideredto be 100% if four tire is replaced per vehicle per year.

Example for passenger car replacement tire demand calculation:

Passenger

Car Fleet Size

(Volume)

X

Replacement

Ratio

(in %)

X No. of Tires =Replacement

Tire Demand

X X X% X X = X Tires

OEM Tire Sales +Replacement Tire

Sales= Total Tire Market

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 companiesdealers/distributors in Romania. The information thus gathered through primary interviews was cross-verified through industry experts and secondary sources such as annual reports and paid databases togenerate meaningful results.

Total Tire Market

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Tire Trade (Import & Export)

TechSci Research has analyzed tire imports in Romania. The data has been gathered through governmentagencies and credible paid databases. The total tire trade has been segmented in accordance with belowmentioned HS codes:

HS Code Description Tire Type

XXXX Motor Cars Passenger Car Tire

XXXX Bus or Lorries Tires Commercial Vehicle Tire

XXXX Motorcycle Tire Two-Wheeler Tire

XXXX Tire Having a "Herring Bone"

OTR Tire





XXXX Agriculture Tire

XXXX Construction/Industrial Tire

XXXX Construction/Industrial Tire

XXXX Others Other Tires

The import figures for each vehicle type (Passenger Car, Commercial Vehicle, Two-Wheeler, Three-wheelers & OTR) have been depicted in Value (USD Million).

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 Romania such as infrastructure condition,economic outlook, etc.

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

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Tire Market in Romania to Grow at CAGR 7% till 2021

Reviving economic conditions coupled with growing automobile production and sales to drive Romania tyre market through2021

According to recently released TechSci Research report, “Romania Tire Market Forecast & Opportunities, 2021”,tire marketin Romania is anticipated to grow at a CAGR of over 7% during 2016-2021. Rapid urbanization, expanding automobile fleetand growing infrastructure development have been identified as the major factors anticipated to boost demand for tires inthe country over the next five years. Moreover, presence of various global tire manufacturers, such as SC ContinentalAutomotive Products S.R.L., Michelin Romania S.A. and S.C. Pirelli Tyres Romania S.r.l., is further anticipated to boost the tiremarket in the country over the next five years.

Passenger car segment is forecast to dominate the overall Romania tire market over the next five years owing to increasingpurchasing power and growth in the number of nuclear families in the country. North-West & Central Region of the countryaccounted for the largest volume share in the country’s overall tire sales in 2015, and the same trend is anticipated tocontinue through 2021. Some of the major companies operating in Romania tire market are SC Continental AutomotiveProducts S.R.L., Michelin Romania S.A., and S.C. Pirelli Tyres Romania S.r.l., among others.

During the forecast period, automobile production in Romania is anticipated to grow at a CAGR of over 6%, thereby triggeringthe demand for tires. Moreover, as per the National Bank of Romania, the country received Foreign Direct Investments (FDI)worth USD360 million in 2015. Government of Romania plans to invest this FDI amount in the development of varioussectors, such as construction, logistics, real estate, etc. in the country. Due to proactive government initiatives coupled withincreasing automobile production, the tire market in Romania is anticipated to register healthy growth rate over the next fiveyears.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Romania Tire Market Forecast & Opportunities, 2021” has evaluated the future growth potential of tyre market inRomania, and provides statistics and information on market structure, imports and trends. The report is intended to providecutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report alsoidentifies and analyses emerging trends along with essential drivers, challenges and opportunities available in Romania tyremarket.

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

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

By Volume (Thousand Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 12

3 5 7 9 1115 17 19 21 23 25

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

Value (USD Million) Volume (Thousand Units)

10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

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

40% 40% 40% 40% 40% 40% 40%

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

Continental Michelin Pirelli Others

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

10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

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

40% 40% 40% 40% 40% 40% 40%

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

North West & Central Region South West & West Region

Bucharest Ilfov & South Region North East & South East Region

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

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

80% 80% 80% 80% 80% 80% 80% 80% 80% 80% 80%

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

OEM Tire Replacement Tire

Romania Tire Market Share, By Demand Category

(OEM vs Replacement), By Volume, 2011-2021F

Romania 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 12

3 5 7 9 1115 17 19 21 23 25

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

Value (USD Million) Volume (Thousand Units)

12

3 4

56

2009 2010 2011 2012 2013 2014

Romania GNI Per Capita, 2009–2014 (USD)

10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

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

40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40%

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

Sedan Hatchback SUV Combi

Romania Passenger Car Tire Market Share, By

Vehicle Type, By Volume, 2011-2021F

R e p o r t O r d e r i n g

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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, canchange without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption.Usage of the same for purpose other than internal will require prior approval of TechSci Research.

Romania Tire (Tyre) Market 2021 - brochure

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