spain tyre market by type 2020 brochure

S audi Arabia Tyre Market Forecast & Opportunities , 2020

Spain 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

Hatchback

Light Commercial VehicleTrucks(Up to 3.5 Tonnes)

Transport Companies, Logistics, Small Business Entrepreneurs, Government

Vans & Pick up Vehicles

Two-Wheelers N/A Individuals

Medium & heavy commercial vehicle

BusLogistics, SMEs

Truck ( >3.5 ton)

OTR (Off-the-Road) Vehicle

N/AFarmers, Mining Companies, Construction

Companies

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

© TechSci Research

N/A –Not Available

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

© TechSci Research

S. No. Contents

1. Research Methodology

2. Analyst View

3. Product Overview

4. Spain Tyre Production Overview

5. Spain 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 (Passenger Cars, LCV, Two-Wheeler, M&HCV and Off-the-Road Vehicles)

5.2.2. By Company

5.2.3. By Region

5.2.4. By Demand Category (OEM vs Replacement)

6. Spain Passenger Car (PC) Tyre Market Outlook




6.2.1. By Vehicle Type (Sedan, Hatchback and SUV)


7. Spain Light Commercial Vehicle (LCV) Tyre Market Outlook


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© TechSci Research

S. No. Contents



7.2.1. By Vehicle Type (Vans & Pickup Vehicles and Trucks (≤3.5 Tons))


8. Spain Two-Wheeler (2W) Tyre Market Outlook





9. Spain Medium and Heavy Commercial (M&HCV) Tyre Market Outlook




9.2.1. By Vehicle Type (Trucks (>3.5Tons) and Buses)


10. Spain Off-the-Road (OTR) Tyre Market Outlook



11. Import-Export Analysis

12. Market Dynamics

12.1. Drivers

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S. No. Contents

12.2. Challenges

13. Market Trends & Developments

13.1. Reviving Automobile Production & Sales

13.2. Increasing Online Sales

13.3. Robust Demand for High Performance Tyres from Luxury Cars Segment

13.4. Growing Demand for Retraded Tyres

13.5. Increasing Penetration of Winter Tyres

14. Policy & Regulatory Landscape

15. Spain Economic Profile

16. Competitive Landscape

16.1. Continental Tires España, S.L.

16.2. Michelin España Portugal S.A.

16.3. Pirelli Neumaticos S.A.

16.4. Nokian Tyres P.L.C.

16.5. Bridgestone Hispania S.A.

16.6. Goodyear Dunlop Tires España, S.A.

16.7. Hankook España, S.A.

16.8. Yokohama Iberia S.A.

16.9. Belshina Joint Stock Company

16.10. Cooper Tire & Rubber Company España SL

17. Strategic Recommendations

18. About Us & Disclaimer

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

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© TechSci Research

Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leading tyresuppliers based in Spain, and subsequently, verified the information from major distributors of automobiletyres in the country. We also put through an exhaustive search of credible paid databases such as BusinessWeek, Factiva, Hoovers, etc., including our internal database. Our team of analysts has then prudentlyevaluated all the collected information and presented the same in chronological order to depict a meaningfuland clear picture of the tyre market in Spain.

While compiling the data, we also cross checked all the collected information from multiple sources and datawarehouses, so as to present the most accurate and precise information of the concerned industry. We useinnovative business model that focuses on improving productivity, while ensuring creation of high-qualityreports. The reports are prepared with in-depth primary research, followed by exhaustive secondary research.

Primary Research - Companies Interviewed

S. No. Company Name

1 Pirelli & C. S.p.A.

2 Goodyear Dunlop Tires Italia S.p.A.

3 Michelin Italiana S.p.A.

4 Bridgestone Italia Sales S.R.L.

5 Kumho Tyre Italia

6 Trelleborg Wheel systems Italia S.p.A

7 Hankook Italia S.R.L.

8 Yokohama Italia S.p.A.

Few Secondary Research Sources

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)

6Spanish Association of Automobile

Manufacturers Cars and Trucks (ANFIA)

7European Association of Motorcycle

Manufacturers (ACEM)

8 World Bank


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© TechSci Research

For the preparation of Spain tyre report, bottom up model has been used, which has later on been crossvalidated by using top down approach.

Tyre Production

TechSci Research has mapped production capacities of almost all tyre manufacturing units in Spain. With thehelp of a series of primary research surveys of all major tyre manufacturing companies in Spain, followed bycross validation through secondary sources such as company annual reports and industry associations. TechSciResearch has been successful in identifying the production capacities of each tyre plant as well as theirrespective plant locations, establishment dates and types of tyres manufactured.

Vehicle Production, Sales & Fleet Size

The basic data points needed for the analysis of Spain tyre market are the historical, current and forecastfigures for vehicle production, sales and fleet size. Data for fleet size has been extracted through variousgovernment sources and credible data portals. TechSci Research has maintained a database for vehicleproduction, 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 variousprimary research surveys and secondary sources such as automotive associations & various governmentpublications.

Tyre Demand

OEM Tyre Sales

OEM tyre demand has been calculated by multiplying the average number of tyres per vehicle with the totalnumber of vehicles 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 considered to be five. Further, theaverage number of tyres for light commercial vehicles (LCVs), medium & heavy commercial vehicles (M&HCVs)and off-the road (OTR) vehicles are considered to be 5, 7 and 4, respectively.


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© TechSci Research

Replacement Tyre Sales

Replacement tyre demand of a particular country is directly dependent on the country’s vehicle fleet size andhistorical vehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleet with thereplacement tyre ratio, which is obtained by conducting a series of surveys with car owners to understand thefrequency of tyre replacement as it varies for different countries depending upon factors such as road conditions,climate, economic and regulatory policies applicable in a country. The replacement ratio is expressed as apercentage; and is considered to be X% if one tyre is replaced per vehicle per year.Example for Passenger Car replacement tyre demand calculation:

The calculated replacement tyre demand data is further analyzed by TechSci Research through Delphi technique i.e.multiple rounds of telephonic interviews were conducted with tyre companies/dealers in Spain. The information thusgathered through primary interviews was cross-verified through industry experts and secondary sources such asannual reports and paid databases to generate meaningful results.

Total Tyre Market

Tyre Trade (Import & Export)

TechSci Research analyzed tyre imports and exports in Spain. The data was gathered through government agenciesand credible paid databases. The total tyre trade has been segmented in accordance with the below mentioned HScodes:

Passenger

Car Fleet

Size

(Volume)

X

Replacement

Ratio

(in %)

X No. of Tyres =

Replaceme

nt Tyre

Demand

XXXX X X% X 4 = XXXX Tyres

OEM Tyre Sales +Replacement

Tyre Sales= Total Tyre Market


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© TechSci Research

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

Tyre Brands Mapping

TechSci Research has mapped all tyre brands being sold in Spain. TechSci Research has gathered thisinformation through primary and secondary research. The brands being sold in Spain are further segmentedinto “domestically manufactured” and “domestically non-manufactured” categories. The objective behind brandmapping 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, followed byjudgmental analysis as certain factors would always differ in Spain such as infrastructure condition, economicoutlook, 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

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

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Spain Tyre Market to Reach US$ 2.85 Billion by 2020

Growing domestic demand for automobiles, increasing automobile production and expanding automobile fleet todrive Spain tyre market

According to TechSci Research report, “Spain Tyre Market Forecast and Opportunities, 2020”, tyre market in Spainis forecast to reach US$ 2.85 billion by 2020, on account of implementation of monetary and structural reforms inthe country, rising automobile sales and expanding automobile fleet size. Some of the prominent domesticautomobile manufacturers operating in Spain are Volkswagen, General Motors, Renault-Nissan, Hyundai, Ford andFiat. On account of recuperating economic conditions and resurging consumer confidence, the automobileproduction and sales in the region are expected to revive in the coming years. Despite increasing demand for tyresfrom the OEM segment, replacement demand is anticipated to continue dominating Spain tyre market through2020.

In 2014, passenger car tyre segment dominated Spain tyre market, followed by light commercial vehicle tyre, two-wheeler tyre, medium & heavy commercial vehicle tyre, and OTR tyre segments. Passenger car tyre segment isanticipated to continue its dominance in the market through the forecast period. Few of the leading companiesoperating in Spain tyre market include Michelin, Bridgeston Continental, Pirelli, Goodyear, Yokohama, Belshina, etc.Michelin and Bridgestone are the only two tyre companies engaged in manufacturing tyres locally in the country,while all other tyre companies operate through the import route. Rising sales of vehicles due to increasingpurchasing power of consumers coupled with increasing penetration of global OEMs are major factors propellinggrowth in Spain tyre market.

“Demand for sports cars and luxury cars is increasing at a robust pace in Spain. Increasing demand for sports carsand luxury cars is anticipated to fuel demand for high performance tyres over the next five years. Various majortyre companies such as Bridgestone and Michelin offer high performance tyres in the country; and demand forthese tyres is expected to witness robust growth in the coming years.” said Mr. Karan Chechi, Research Directorwith TechSci Research, a research based global management consulting firm.

http://www.techsciresearch.com/report/spain-tyre-market-forecast-and-opportunities-2020/220.html

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

1 2 3 4 57 8 9 10 11 12

35

79

1115

1719

2123

25

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

Value (USD Billion) Volume (Million Units)

Spain Tyre Market Size, By Value (USD Billion),

By Volume (Million Units), 2010-2020F

© TechSci Research

Spain Tyre Market Share, By Company, By Value, 2014-2020F

20.00% 20.01% 20.02% 20.03% 20.04% 20.05% 20.06%

7.00% 7.01% 7.02% 7.03% 7.04% 7.05% 7.06%9.00% 9.01% 9.02% 9.03% 9.04% 9.05% 9.06%

13.00% 13.01% 13.02% 13.03% 13.04% 13.05% 13.06%

19.00% 19.01% 19.02% 19.03% 19.04% 19.05% 19.06%

25.00% 25.01% 25.02% 25.03% 25.04% 25.05% 25.06%

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

Others Pirelli Continental Goodyear Bridgestone Michelin

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

2014: X%

2020F: X%

North Spain

2014: X%

2020F: X%

Aragon & Catalonia

2014: X%

2020F: X%

Andalusia, Murcia

& Valencia2014: X%

2020F: X%

Madrid, Extremadura &

Castilla

Spain Off-The-Road Tyre Market Size, By Value (USD

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

1 2 3 4 57 8 9 10 11 12

35

79

1115

1719

2123

25

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

Value (USD Billion) Volume (Million Units)

54

3 2

1

2009 2010 2011 2012 2013

GNI Per Capita (USD)

Spain GNI Per Capita, 2019–2013 (USD)

Spain Tyre Market Share, By Vehicle Type, By Volume, 2010-2020F

1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% 11.00%12.00% 13.00% 14.00% 15.00% 16.00% 17.00% 18.00% 19.00% 20.00% 21.00%22.00%23.00% 24.00% 25.00% 26.00% 27.00% 28.00% 29.00% 30.00% 31.00% 32.00%33.00%

34.00% 35.00% 36.00% 37.00% 38.00% 39.00% 40.00% 41.00% 42.00% 43.00% 44.00%

0 0 0 0 0 0 0 0 0 0 0

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

Off-the-Road Medium & heavy Commercial Vehicles

Two-Wheeler Light Commercial Vehicles

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

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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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