DUBLIN, December 17, 2021– (BUSINESS WIRE) – The “Serbian Tire Market, by Vehicle Type (Passenger Car, LCV, M & HCV, OTR and Two-Wheelers), by Demand Category (OEM vs. Replacement), Radial vs. Bias , by region The Competition Forecast & Opportunities report, 2027 “has been added to ResearchAndMarkets.com offer.

The Serbian tire market was valued at $ 0.15 billion in 2020 and is expected to be valued at $ 0.21 billion by 2026 thanks to increased vehicle sales due to lower interest rates , which leads to affordable auto financing in the country.

Companies mentioned

• Cooper Tire & Rubber Company Serbia doo

• Toyo Tire Serbia LLC

• Bridgestone Company

• Continental SA

• Hankook Tire doo

• Goodyear tires Dunlop Sava, doo

• ELASTIKA PIRELLI SA

• The Yokohama Rubber Co., Ltd.

• Nokian Tires plc

• Michelin Pneus SA

In addition, Serbia is a candidate for EU membership and is one of the developing countries in the Balkan region. This makes the country a lucrative market for tire manufacturers. In addition to this, the presence of most of the world’s leading automotive OEMs is also acting as a major growth factor for the Serbian tire market.

In addition, most of the governments of European countries including Serbia have imposed strict rules and regulations regarding the periodic use of winter tires and snow tires, which strongly stimulates the tire market in the region due to the need to periodically change tires. . In accordance with government standards in Serbia, automobile tires must be changed periodically and must have a minimum tread depth of at least 4mm, resulting in increased demand for tires in the replacement market.

The market is also witnessing several innovations in terms of technology and the environment. For example, people’s growing awareness and concern for the environment is driving the adoption of green tires. An increasing number of car owners prefer to use green tires in their vehicles instead of conventional tires, and this trend is expected to gain traction in the Serbian tire market in the coming years.

The story continues

However, the spread of the new COVID-19 pandemic has created both a public health crisis and an economic crisis in Serbia. Due to the lockdown declaration to stop the spread of the pandemic, nearly all auto factories, showrooms and workshops have been closed, testifying to a massive drop in sales. According to the Statistical Office of the Republic of Serbia (SORS), in April 2020, overall industrial production fell by 17.6% and manufacturing fell by 20%. However, the automotive market in Serbia has seen a recovery with an increase in production and sales in the third quarter of 2020 after a huge drop in the first two quarters of 2020 due to COVID-19. This has further resulted in an increase in demand for tires from OEMs as well as replacement market segments with increasing numbers of people starting to travel more frequently and many offices returning to work from office space to. from the third quarter of 2020.

The Serbian tire market is segmented on the basis of vehicle type, category of demand, radial vs bias, and region. Based on vehicle type, the market can be categorized into passenger cars, LCVs, M & HCVs, OTRs, and two-wheelers. The Serbian tire market was dominated by the passenger car tire segment until 2020, which accounted for around 90% of tire sales in the country, followed by the light commercial vehicles, off-road (OTR) segment. and medium and heavy commercial vehicles.

Goal of the study:

• To analyze the historical growth and market size of the Serbian tire market from 2016 to 2020.

• Estimate and forecast the market size of the Serbian tire market from 2021 to 2026.

• Classify and forecast Serbian tire market based on vehicle type, demand category, radial vs bias, company and region.

• Identify the drivers and challenges of the Serbian tire market.

• Examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc. in the Serbian tire market.

• Identify and analyze the profile of the main players involved in tire manufacturing in Serbia.

Main topics covered:

1. Product overview

2. Research methodology

3. Voice of the customer

3.1. Factors influencing the buying decision

3.2. Purchase influencer

3.3. Assisted / unassisted brand recall

4. Overview of tire production in Serbia

5. Executive summary

6. Prospects for the tire market in Serbia

7. Serbia Passenger Car Tire Market Outlook

8. Serbia Light Commercial Vehicle (LCV) Tire Market Outlook

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

10. Outlook for the two-wheel tire market in Serbia

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

12. Import-Export Analysis

13. Impact of COVID-19 on the Serbian Tire Market

14. Market dynamics

14.1. Conductors

14.2. Challenges

15. Market trends and developments

16. Political and regulatory landscape

17. Economic profile of Serbia

18. Competitive landscape

19. Strategic recommendations

20. About the publisher and disclaimer

For more information on this report, visit https://www.researchandmarkets.com/r/y66rv2

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211217005310/en/

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