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SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET FORECAST 2022-2028

The Slovakia tire aftermarket, tire replacement market is estimated to increase with a 6.66% CAGR by 2028, and is set to be valued at $1.58 billion during the forecasting period, 2022-2028.

SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET FORECAST 2022-2028

Slovakia Tire Aftermarket, Tire Replacement Market by Tire Type (Radial Tire, Bias Tire) Market by Rim Size (13-5 Inches, 16-18 Inches, 19-21 Inches, More Than 21 Inches) Market by Distribution Channel (Original Equipment Supplier, Independent Aftermarket)

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The Slovakia tire aftermarket, tire replacement market is estimated to increase with a 6.66% CAGR by 2028, and is set to be valued at $1.58 billion during the forecasting period, 2022-2028.

Tire aftermarket, tire replacement is dedicated replacement tires intended to provide all-around performance on any vehicle for which they are sized and rated. The market is driven by factors such as a greater requirement for energy-efficient tires and stringent government regulations regarding labeling. However, the surge in sales of two-wheelers and commercial vehicles has driven the global automotive tire market in the past few years, even if the fluctuating fuel prices persist globally.

Slovakia Tire Aftermarket, Tire Replacement Market

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Slovakia’s robust automotive industry considerably aids the growth of the tire replacement sector. According to the American Journal of Economics and Control Systems Management, the automotive sector in Slovakia employs over 27,500 people, which contributes 6% to GDP and accounts for 19% of Slovakia’s total exports of goods and services. The automotive sector in the country is made up of a flexible network of specialized niche players. The automobile industry invests more than average, particularly in innovative manufacturing technology that ensures high-quality cars and components and high productivity. Also, various global players have extended their manufacturing units and sales into the country.

The Slovakia tire aftermarket, tire replacement market evaluation entails segmentation by distribution channel, rim size, and tire type. Market by type covers radial tire and bias tire.

Rubber-coated polyester or steel cable belts are used to make radial tires. These belts are parallel to one another and are installed at a 90-degree angle to the tread center line. The radial construction of the tire reduces the rolling resistance while increasing flexibility. It also helps the tire dissipate heat, extending its life. Because of their radial structure, radial tires are less likely to develop flat areas when not in use for extended periods.

Moreover, radial tires are distinguished from bias-ply tires by their springiness and steering slips. Because bias-ply tires were no longer required to compensate for their shortcomings, cars could now be lighter. On the other hand, motorists were unaccustomed to the experience, necessitating the modification of car suspension systems. The steel wires in radial tires become magnetized with use, forming an alternating magnetic field as they rotate.

In contrast, a bias tire is constructed from layers of rubber-coated fabric plies positioned at 30-40 degree angles, with plies laid consecutively forming a crisscross pattern at opposing angles to which the tread is applied. This design’s main advantages are a smooth ride over rough terrain, increased operator comfort, and the ability to withstand heavy loads. This makes these tires ideal for port and terminal machinery. Bias tires are intended for vehicles that travel at low speeds and have small to medium engines and a flexible chassis. They are also suitable for heavier motorcycles or those carrying a heavy load.

Key players in the Slovakia tire aftermarket, tire replacement market are Bridgestone Corporation, Goodyear Tires, Continental AG, Michelin, Pirelli & C SpA, etc.

Michelin provides tire and mobility services. The company manufactures and markets tires for vans, cars, scooters, trucks, farm equipment, bicycles, motorcycles, conveyor belts, earthmovers, aircraft, and subway trains. Michelin also provides management and maintenance services, sports and leisure gear, car and bike accessories, mobility assistance, etc. In addition, the company develops radial earthmovers, agricultural & aircraft tires, and energy-efficient radial tires. It serves customers in the agricultural, aerospace, automotive, mining, and construction sectors across North America, Europe, and various other regions. The company has distribution and manufacturing facilities worldwide. Michelin is headquartered in Clermont-Ferrand, France.

ENERGY XM2+ from Michelin is one of their popular passenger vehicle tires. The company claims the tire runs 29% longer than its premium competitors.

Report Synopsis

Report Scope Details
Market Forecast Years 2022-2028
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Billion)
Segments Analyzed Tire Type, Rim Size, Distribution Channel
Country Analyzed Slovakia
Companies Analyzed

Bridgestone Corporation, Continental AG, Goodyear Tires, Michelin, Pirelli & C SpA

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY-SLOVAKIA
      • MARKET SIZE & ESTIMATES
      • COUNTRY SNAPSHOT
      • COUNTRY ANALYSIS
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
    3. KEY ANALYTICS
      • IMPACT OF COVID-19 ON TIRE AFTERMARKET, TIRE REPLACEMENT MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • PESTLE ANALYSIS
        • POLITICAL
        • ECONOMICAL
        • SOCIAL
        • TECHNOLOGICAL
        • LEGAL
        • ENVIRONMENTAL
    1. MARKET BY TIRE TYPE
      • RADIAL TIRE
      • BIAS TIRE
    2. MARKET BY RIM SIZE
      • 13-15 INCHES
      • 16-18 INCHES
      • 19-21 INCHES
      • MORE THAN 21 INCHES
    3. MARKET BY DISTRIBUTION CHANNEL
      • ORIGINAL EQUIPMENT SUPPLIER
      • INDEPENDENT AFTERMARKET
    4. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • ACQUISITIONS
        • PRODUCT LAUNCHES
        • BUSINESS EXPANSIONS
      • COMPANY PROFILES
        • BRIDGESTONE CORPORATION
        • CONTINENTAL AG
        • GOODYEAR TIRES
        • MICHELIN
        • PIRELLI & C SPA

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT-TIRE AFTERMARKET, TIRE REPLACEMENT

    TABLE 2: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 3: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, FORECAST YEARS, 2022-2028 (IN $ BILLION)

    TABLE 4: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY BIAS TIRE, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 5: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY BIAS TIRE, FORECAST YEARS, 2022-2028 (IN $ BILLION)

    TABLE 6: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 7: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, FORECAST YEARS, 2022-2028 (IN $ BILLION)

    TABLE 8: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 9: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2022-2028 (IN $ BILLION)

    TABLE 10: LIST OF ACQUISITIONS

    TABLE 11: LIST OF PRODUCT LAUNCHES

    TABLE 12: LIST OF BUSINESS EXPANSIONS

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, GROWTH POTENTIAL, BY TIRE TYPE, IN 2021

    FIGURE 5: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RADIAL TIRE, 2022-2028 (IN $ BILLION)

    FIGURE 6: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY BIAS TIRE, 2022-2028 (IN $ BILLION)

    FIGURE 7: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, GROWTH POTENTIAL, BY RIM SIZE, IN 2021

    FIGURE 8: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY 13-15 INCHES, 2022-2028 (IN $ BILLION)

    FIGURE 9: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY 16-18 INCHES, 2022-2028 (IN $ BILLION)

    FIGURE 10: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY 19-21 INCHES, 2022-2028 (IN $ BILLION)

    FIGURE 11: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY MORE THAN 21 INCHES, 2022-2028 (IN $ BILLION)

    FIGURE 12: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2021

    FIGURE 13: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY ORIGINAL EQUIPMENT SUPPLIER, 2022-2028 (IN $ BILLION)

    FIGURE 14: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY INDEPENDENT AFTERMARKET, 2022-2028 (IN $ BILLION)       

    1. MARKET BY TIRE TYPE
      • RADIAL TIRE
      • BIAS TIRE
    2. MARKET BY RIM SIZE
      • 13-15 INCHES
      • 16-18 INCHES
      • 19-21 INCHES
      • MORE THAN 21 INCHES
    3. MARKET BY DISTRIBUTION CHANNEL
      • ORIGINAL EQUIPMENT SUPPLIER
      • INDEPENDENT AFTERMARKET

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