1. Market Research
  2. > Automotive
  3. > Tire Market Trends
  4. > Latvia Tire Market Forecast and Opportunities, 2021

Latvia Tire Market Forecast and Opportunities, 2021

  • April 2016
  • -
  • TechSci Research
  • -
  • 100 pages

Summary

Table of Contents

On account of Eurozone debt crisis in 2008-2009, Latvia was hit by weak economic conditions, which resulted in high rate of unemployment, fiscal austerity, weak credit growth and high inflation, consequently impacting the automotive industry of the country. With a GDP of around USD31.28 billion in 2014, vehicle fleet (passenger cars & commercial vehicles) of over 746,000 vehicles and vehicle motorization rate of around 373 vehicles per thousand people in 2014, Latvia’s tire market is poised to witness moderate growth over the next five years. In 2015, the passenger cars and light commercial vehicles collectively accounted for more than 80% of the total automotive sales, followed by two-wheelers and medium & heavy commercial vehicle sales in the country. This consequently led to highest volume sales of passenger car tires, followed by light commercial vehicle tires. Due to lack of automotive production in the country, demand for tires in the country is entirely met through imports.

According to the TechSci Research report, “Latvia Tire Market Forecast & Opportunities, 2021”, Latvia tire market is anticipated to surpass US$ 1 billion by 2021, on account of increasing volume sales of vehicles in the country and rapidly expanding fleet size. The vehicle fleet of the country is dominated by passenger car segment, followed by the commercial vehicle segment. As a consequence, the passenger car tire segment held a major volume share in the country’s tire market in 2015 and its dominance is anticipated to continue during the forecast period as well. Leading global tire companies operating in Latvia include Continental, Michelin, Pirelli, Bridgestone, Goodyear, Toyo, Hankook, Nokian, and Kumho, among others. Rapid urbanization, expanding automobile fleet and growing infrastructure development have been identified as the major factors anticipated to boost demand for tires in the country over the next five years. “Latvia Tire Market Forecast & Opportunities, 2021” report elaborates following aspects of tire market in Latvia:

- Latvia Tire Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tires, Medium and Heavy Commercial Tires, Light Commercial Vehicle Tires, OTR Tires & Two Wheeler Tires
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations

Why You Should Buy This Report?

- To gain an in-depth understanding of tire market in Latvia
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tire companies and other stakeholders to align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs.

Report Methodology

The information contained in this report is based on both primary and secondary sources. Primary research includes interviews with tire companies and industry experts. Secondary research includes an exhaustive search of relevant publications such as company annual reports, financial reports and proprietary databases.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
Global Tire Market Forecast & Opportunities, 2022

Global Tire Market Forecast & Opportunities, 2022

  • $ 10000
  • Industry report
  • April 2017
  • by TechSci Research

Global tire market witnessed a marginal growth during 2012-16, predominantly due to prevailing effects of Eurozone Crisis and slump in the crude oil prices which impacted the global automobile industry. ...

Tire Reinforcement Materials: Technologies and Global Markets

Tire Reinforcement Materials: Technologies and Global Markets

  • $ 6650
  • Industry report
  • January 2017
  • by BCC Research

Use this report to: - Analyze the technologies and markets in the steel fiber and tire industries that influence demand for and development of tire reinforcement materials. - Gain insight into international ...

Isoprene Market by Type, Application, End-Use Industry, and Region - Global Forecast to 2021

Isoprene Market by Type, Application, End-Use Industry, and Region - Global Forecast to 2021

  • $ 5650
  • Industry report
  • April 2017
  • by MarketsandMarkets

“The isoprene market is expected to grow at a CAGR of 7.4% during forecast period” The isoprene market is projected to reach USD 2.96 billion by 2021, at a CAGR of 7.4% from 2016 to 2021. Isoprene ...


Download Unlimited Documents from Trusted Public Sources

Tire Market in Germany

  • April 2017
  • Tire  

  • Germany  

View report >

Global Motor Vehicle Industry

  • April 2017
    3 pages
  • Motor Vehicle  

    Tire  

  • World  

    United States  

View report >

Tire Market in Germany

  • April 2017
  • Tire  

  • Germany  

View report >

Related Market Segments :

Tire

ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.