denmark 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

Denmark Tire Market Forecast & Opportunities , 2021

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

Product Definition

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

Vehicle Segment Sub-Segment Customer Segment

Passenger Car

Hatchback

IndividualsSUV/MPV

Sedan

Light Commercial VehicleLight Trucks (upto 3.5 Tons)

Transportation & Logistics, Small Medium Enterprises (SMEs)

Light Buses (upto 3.5 Tons)

Medium & Heavy Commercial VehicleMCV (3.5–16 Tons)

Transport Companies, Logistics & Cargo

HCV (over 16 Tons)

OTR (Off-the-Road) Vehicle

Agricultural EquipmentFarming, Mining & Quarrying

CompaniesMining Equipment

Industrial & Construction Equipment

Two-WheelersMopeds

IndividualsMotorcycles

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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. Denmark Tire Market Outlook

4.1. Market Size & Forecast

4.1.1. By Value & Volume

4.2. Market Share & Forecast

4.2.1. By Vehicle Type (Passenger Car (PC), LCV, MHCV, 2W, OTR)

4.2.2. By Company

4.2.3. By Region

5. Denmark Passenger Car (PC) Tire Market Outlook




5.2.1. By Vehicle Type (Hatchback, SUV/MPV and Sedan)

6. Denmark Light Commercial Vehicle (LCV) Tire Market Outlook




6.2.1. By Vehicle Type (Light Trucks and Light Buses)

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S. No. Contents

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




7.2.1. By Vehicle Type (MCV and HCV)

8. Denmark Two-Wheeler Tire Market Outlook




8.2.1. By Vehicle Type (Mopeds and Motorcycles)

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




9.2.1.By Vehicle Type (Agricultural Equipment, Mining Equipment and Industrial & Construction Equipment)

10. Import-Export Analysis

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Growing Winter Tire Penetration

12.2. Increasing Use of Electric Vehicles & High Performance Tires

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S. No. Contents

12.3. Rising Automotive sales

12.4. Growing Internet Penetration Leading to Increased Online Tire Sales

12.5. Growing Market for Chinese Tires

13. Policy & Regulatory Landscape

14. Denmark Economic Profile

15. Competitive Landscape

15.1. Yokohama Danmark A/S

15.2. Bridgestone Danmark A/S

15.3. Michelin Gummi Compagni A/S

15.4. Continental Daek Danmark A/S

15.5. Pirelli Deutschland GmbH

15.6. The Goodyear Dunlop Tires Danmark A/S

15.7. Toyo Tire Europe GmbH

15.8. Hankook Tire Company Ltd.

15.9. Vredestein Nordic AB

15.10. Cooper Tire & Rubber Company

16. Strategic Recommendations

17. 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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Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leading tirecompanies operating in Denmark, and subsequently verified information from major dealers/distributors ofautomobile tires in the country. We also put through an exhaustive search of credible paid databases such asBusiness Week, Factiva, Hoovers, etc., including our internal database. Our team of analysts has thenprudently evaluated all the collected information and presented the same in chronological order to depict ameaningful and clear picture of tire market in Denmark.

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

Primary Research – Companies Dealers & Distributors Interviewed Few of Sources of Secondary Research

S. No. Company Dealers & Distributor Names

1. Michelin Denmark

2. Bridgestone Danmark

3 Continental Danmark

4. Nordisk Tyre Importer

5. Goodyear Dunlop Tires Danmark

6. Euromaster Danmark

S. No. Secondary Sources

1. Danish Tire Council

2. Danish Vehicle Import Association

3. Stat Bank Denmark

4. European Union

5. World Bank

6. United Nations


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For the preparation of Denmark tire report, bottom-up model has been used, which has been later cross validatedby using top down approach.

Vehicle Sales & Fleet Size

The basic data points needed for the analysis of Denmark tire market are the historical, current and forecast figuresfor vehicle sales and fleet size. The data for vehicle sales and fleet size has been extracted through varioussecondary sources and credible data portals. TechSci Research has also maintained a database for vehicle sales andfleet size for each vehicle segment (passenger cars, light commercial vehicles, medium & heavy commercialvehicles, two-wheelers, & off-the-road vehicles), which is regularly updated through various primary researchsurveys and secondary sources such as automotive associations & government publications.

Tire Demand

Replacement Tire Sales

Replacement tire 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 tire ratio, which is obtained by conducting a series of surveys with car owners to understand thefrequency of tire 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. For example, in case of passenger cars, replacement ratio is considered to be 100% if four tires arereplaced per vehicle per year.

Example for passenger car replacement tire demand calculation:

Passenger Car

Fleet Size

(Volume)

XReplacement Ratio

(%)X No. of Tires =

Replacement

Tire Demand

X X X% X X = X Tires

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 Denmark. The information thus gathered through primary interviews was cross-verifiedthrough industry experts and secondary sources such as annual reports and paid databases to arrive atmeaningful results.


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Tire Trade (Import & Export)

TechSci Research has analyzed tire imports in Denmark. 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, & OTR) havebeen depicted in Value (USD Million).

Forecast

For forecasting the numbers, we have used time series analysis along with regression analysis, followedby judgmental analysis.

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

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Tire Market in Denmark to Surpass € 380 Million by 2021

Rising automobile sales, expansion of automobile fleet and favorable government policies to increase demand for tires inDenmark over next five years

According to TechSci Research report, “Denmark Tire Market Forecast and Opportunities, 2021’’, tire market in Denmark isprojected to cross € 380 Million ($ 435 Mn) by 2021 on the back of the country’s reviving automobile sector, increasingautomobile sales, expanding automobile fleet and implementation of favorable government policies. Moreover, rapidlygrowing construction industry in Denmark is expected to fuel demand for M&HCV & OTR vehicles over next five years, whichis expected to positively influence the country’s tire market over the next five years. In addition, anticipated increasing indemand for passenger cars on account of rising per capita income is also expected to augment demand for passenger cartires during 2016 - 2021.

During 2011-2015, automobile sales in Denmark grew at a CAGR of around 15%, with unit sales in the country increasingfrom 0.21 million units in 2011 to 0.24 million units in 2015, resulting in expansion of the country’s automotive fleet(including passenger cars & commercial vehicles) from 2.68 million units in 2011 to 2.83 million units in 2015. Among severalglobal tire companies such as Continental, Michelin, Bridgestone, Yokohama, etc., selling their tires in the country,Continental accounted for the largest volume share in Denmark tire market in 2015, followed by Michelin.

“Expanding vehicle fleet size in Denmark positively influenced demand for tires from replacement segment during 2011-2015. The passenger car tire segment is expected to be the fastest growing segment in the coming years and is anticipated togrow at a CAGR of more than 4% during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research,a research based global management consulting firm.

“Denmark Tire Market Forecast and Opportunities, 2021” has evaluated the future growth potential of Denmark tire marketand provides statistics and information on market size, structure and future market growth. The report intends to providecutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report alsoidentifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Denmark tiremarket.

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Denmark Tire Market Size, By

Value (USD Million), By Volume

(Thousand Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 123 5 7 9 11

15 17 19 21 23 25

2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F

Value (USD Million) Volume (Thousand Units)

Denmark Tire Market Share, By

Company, By Volume, 2015-2021F

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

15% 15% 15% 15% 15% 15% 15%

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

25% 25% 25% 25% 25% 25% 25%

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

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

Yokohama Bridgestone Michelin

PC, 25.00%

CV, 25.00%OTR,

25.00%

Two Wheeler, 25.00%

Denmark Tire Imports

Share, By Vehicle Type,

By Value, 2014

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

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

15% 15% 15% 15% 15% 15% 15%

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

25% 25% 25% 25% 25% 25% 25%

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

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

Midtjylland (Central Denmark Region) Hovedstaden (Capital Region of Denmark)Syddanmark (Region of Southern Denmark) Sjaelland (Region Zealand)Nordjylland (North Denmark Region )

Denmark Passenger Car Tire Market Size, By Value (USD

Million), By Volume (Thousand Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 123 5 7 9 11 15 17 19 21 23 25

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


PC, 25.00%

CV, 25.00%OTR, 25.00%

Two Wheeler, …

Denmark Tire Exports

Share, By Vehicle Type,

By Value, 2014

Denmark Passenger Car Tire Market Share, By

Vehicle Type, By Volume, 2011-2021F

33% 33% 33% 33% 33% 33% 33%

34% 34% 34% 34% 34% 34% 34%33% 33% 33% 33% 33% 33% 33%

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

Hatchback SUV/MPV Sedan

Denmark Two Wheeler Tire Market Size,

By Value (USD Million), By Volume

(Thousand Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 123 5 7 9 11

15 17 19 21 23 25

2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F


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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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