Turkey Automotive Tires Market

Turkey Automotive Tires Market Overview

In 2019, the automotive sector of the country had the highest amount of exports, with USD 30.6 billion, and Istanbul was the largest exporter city in the country. The export routes of the country exceeded 200 countries and free zones, and Germany was the key destination with USD 14.96 billion exports. The automotive industry in Turkey is attempting to enhance its design, R&D, and branding capabilities, such as, in 2019, there were 175 R&D and design centers in the country which were operated by the automotive manufacturers and suppliers. Moreover, various big automobile manufacturers like Fiat Chrysler Automobiles, Hyundai Motor, and Toyota Motor invested in the country to increase the production capacities, which has made a 0.9% contribution to the average annual growth in passenger car production between 2018 and 2027.

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Major Turkey Automotive Tires Market Drivers

The increasing production of vehicles due to the growth in the export of automotive to various countries is a major factor that is bolstering the growth of the automotive tires market in the country. In addition to this, the increase in the online sales of automotive tires and rising demand for the replacement of tires in the country are also expected to generate several growth opportunities for the automotive tires market during the forecast period.

In addition to this, rising investment by several players to increase the production capacity and implement various advanced technology in the tire industry are further accelerating the growth of the automotive tires market in Turkey. For instance, in 2018, Pirelli, an Italian tire brand’s licensed manufacturer Prometon announced an investment of USD 115 million in Turkey from 2017 to 2020. Through this investment project, the company aimed to expand its production capacity and incorporate advanced technology in its factory situated in the northern Marmara industrial province of Izmit. The tire production capacity at the plant per year was anticipated to increase by 75% by 2020, and the export to the international market to double from the current level.

Restraint in the Turkey Automotive Tires Market

The factor which is responsible for restraining the growth of the Turkey automotive tires market includes the increase in the prices of raw material that is used for the production of tires owing to the fluctuations in the oil prices.

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Type – Segment Analysis

Based on the type, the radial segment is anticipated to grow at a higher CAGR during the forecast period. The several benefits offered by the radial tires in automobiles, such as  enhanced mileage, high fuel-saving, long-lasting natures, and the ability to enhance the performance of vehicles, are the significant factors that are accelerating the demand for such tires in the market across the country.

Vehicle Type – Segment Analysis

On the basis of vehicle type, the passenger car segment is expected to increase at a higher CAGR during the forecast period. The factor which is augmenting the growth of the market of this segment includes the increase in the sales of passenger cars in the country owing to the availability of low-interest loan packages for corporate and individual customers on the purchase of second-hand and new passenger vehicles. For instance, in the first 11 months of 2020, the sales of passenger cars increased by 67.3% to 529,388 as compared to the last year.

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Key Developments: 

• • In 2019, ÖZKA, a manufacturer of specialty tires and products, planned to grow its radial tire production capacity by 55% in 2020 by the addition of its second factory in the country.
  • In 2018, Brisa Bridgestone Sabanci Lastik Sanayi ve Ticaret AS started a USD 300 million greenfield tire production plant in Aksaray, central Turkey. The company said that this plant is designed to offer 4.2 million tires. 

Segments covered in the Report:

The Turkey automotive tires market has been segmented on the basis of type, season, vehicle type, rim size, and distribution channel. Based on type, the market is segmented into bias and radial. Based on the season, the market is segmented into summer, winter, and all seasons. Based on vehicle type, the market is segmented into the passenger car, LCV, buses, and trucks. Based on rim size, the market is segmented into less than 15 inch, 15-20 inch, and more than 20 inch. Based on the distribution channel, the market is segmented into OEM and aftermarket. 

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Report Coverage	Details
Market Revenues (2022)	USD Million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Season, By Vehicle Type, By Rim Size, and By Distribution Channel
Regional Coverage	Turkey
Companies Profiled	Profiles of Top 10 Major Companies Operating in “Turkey Automotive Tires Market”
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Turkey Automotive Tires Market by Type

• • Bias
  • Radial

Turkey Automotive Tires Market by Season

• • Summer
  • Winter
  • All Seasons

Turkey Automotive Tires Market by Vehicle Type

• • Passenger Car
  • LCV
  • Buses
  • Trucks

Turkey Automotive Tires Market by Rim Size

• • Less than 15 Inch
  • 15-20 Inch
  • More than 20 Inch

Turkey Automotive Tires Market by Distribution Channel

• • OEM
  • Aftermarket