Market Forcast By Origin(Local Manufacturing,Imports), By Types(Radial Tires, Bias Tires), By End Users(OEM, Replacement), By Vehicle Types(Trucks, Light Trucks, Two-Wheelers, Passenger Cars) and Competitive Landscape
Product Code: ETC001618 | Publication Date: Feb 2020 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Turkey Tire market currently, in 2023, has witnessed an HHI of 769, Which has decreased slightly as compared to the HHI of 969 in 2017. The market is moving towards highly competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Report Name | Turkey Tire Market |
Forecast period | 2025-2031 |
CAGR | 7.8% |
Growing Sector | Automotive |
The Turkey Tire Market report provides a comprehensive evaluation by origin, types, end users, and vehicle types. This detailed report offers stakeholders valuable insights into current and projected market trends, main drivers, high-growth segments, and key challenges, aiding in the formulation of strategic decisions and aligning market strategies with evolving industry dynamics.
The Turkey Tire Market is showing impressive growth due to increasing automotive production and sales. Key trends include a shift towards radial tires due to their superior performance and durability. Growth drivers encompass technological advancements in tire manufacturing and rising consumer preference for fuel-efficient vehicles. However, challenges such as fluctuating raw material prices and intense competition from international brands persist.
According to 6Wresearch, The Turkey Tire Market size is expected to grow at a significant CAGR of 7.8% during the forecast period 2025-2031. Technological advancements in tire manufacturing, growing automotive industry production, and increased consumer awareness about fuel efficiency are key drivers for the Turkey Tire Market. Moreover, government initiatives supporting local manufacturing and stringent regulations for vehicle safety and performance contribute to the market's positive growth trajectory.
Substantial hurdles for the Turkey Tire Market include the volatility of raw material prices, specifically rubber, and heightened competition from established international brands. Economic fluctuations and the high costs associated with advanced manufacturing technologies also pose significant challenges, impacting overall market profitability and competitiveness.
Leading players in the Turkey Tire Market include Brisa, Petlas, and Pirelli. These companies contribute significantly by investing in R&D, expanding production capacities, and leveraging strong distribution networks. Their focus on innovation and strategic collaborations ensures that they remain competitive and meet evolving customer needs in the market.
The Turkish government has implemented initiatives such as the 'Domestic Tire Manufacturing Incentive,' which provides subsidies and tax benefits to local producers. Additionally, efforts under the 'Automotive Export Development Scheme' aid in promoting the industry on a global scale. These measures aim to bolster local manufacturing, reduce import dependency, and enhance the market's competitive edge.
Future prospects for the Turkey Tire Market appear promising, driven by advancements in tire technology, including sustainable materials and smart tire solutions. Increasing adoption of electric vehicles and ongoing infrastructure developments will further fuel demand. Despite economic challenges, the market is expected to see robust growth as stakeholders invest in capacity expansion and innovation.
According to Ravi Bhandari, Research Head, 6Wresearch, among the segments in the Turkey Tire Market by origin, local manufacturing is experiencing the most significant growth. This surge can be attributed to increased efforts by Turkish manufacturers to reduce reliance on imported tires. Investment in advanced manufacturing technologies and the establishment of new production facilities have improved the quality and availability of locally produced tires, meeting both domestic and international standards. This helps Turkey support its internal demand and also boosts its export potential.
In the category of tire types, radial tires are witnessing robust growth in the Turkish market. Radial tires are favored for their superior driving comfort, better fuel efficiency, and longer tread life, making them ideal for various vehicles. The development of Turkey's road infrastructure and an increase in vehicle ownership are boosting the demand for these high-performance tires. Additionally, radial tires are becoming more popular because they provide improved safety and stability, crucial for both passenger cars and commercial vehicles.
In the end user segment, the replacement market is the fastest-growing sector. As vehicle ownership rises and the average age of vehicles on the road increases, the demand for replacement tires naturally grows. Consumers are increasingly aware of the importance of quality tires for safety and performance, prompting more frequent replacements. The expansion of a well-established network of tire retailers and service centers in Turkey further contributes to the accessibility and convenience of obtaining replacement tires.
Among the different vehicle types, the passenger cars segment is expanding most rapidly. This growth is driven by rising disposable incomes and an increasing middle-class population, leading to higher private vehicle ownership. Urbanization and improvements in road networks are also key factors that bolster the demand for passenger cars, and consequently, the need for reliable and high-quality tires for these vehicles. Additionally, the trend towards owning multiple vehicles per household further accelerates the demand for passenger car tires.
The report offers a comprehensive study of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Turkey Tire Market Overview |
3.1 Country Indicators |
3.2 Turkey Tire Market Revenues and Volume, 2021-2031F |
3.3 Turkey Tire Market Revenue Share, By Origin, 2021&2031F |
3.4 Turkey Tire Market Revenue Share, By Types,2021&2031F |
3.5 Turkey Tire Market Revenue Share, By End Users, 2021&2031F |
3.6 Turkey Tire Market Revenue Share, By Vehicle Types, 2021&2031F |
3.7 Turkey Tire Market - Industry Life Cycle |
3.8 Turkey Tire Market - Porterโs Five Forces |
4. Turkey Tire Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Turkey Tire Market Trends |
6. Turkey Tire Market Overview, By Vehicle Types |
6.1 Turkey Passenger Car Tire Market Revenues and Volume, 2021-2031F |
6.2 Turkey Light Trucks Tire Market Revenues and Volume, 2021-2031F |
6.3 Turkey Trucks Tire Market Revenues and Volume, 2021-2031F |
6.4 Turkey Two-Wheeler Tire Market Revenues and Volume, 2021-2031F |
7. Turkey Tire Market Overview, By Types |
7.1 Turkey Tire Market Revenue and Volume, By Biased Tire, 2021-2031Fย |
7.2 Turkey Tire Market Revenue and Volume, By Radial Tire, 2021-2031Fย |
8. Turkey Tire Market Overview, End Users |
8.1 Turkey Tire Market Revenue and Volume, By Replacement, 2021-2031F |
8.2 Turkey Tire Market Revenue and Volume, By OEM, 2021-2031F |
9. Turkey Tire Market Overview, Origin |
9.1 Turkey Tire Market Revenue and Volume, By Local Manufacturing, 2021-2031F |
9.2 Turkey Tire Market Revenue and Volume, By Imports, 2021-2031F |
10. Turkey Tire Market Key Performance Indicators |
11. Turkey Tire Market Opportunity Assessment |
11.1 Turkey Tire Market Opportunity Assessment, By Vehicle Types, 2031F |
11.2 Turkey Tire Market Opportunity Assessment, By Types 2031F |
11.3 Turkey Tire Market Opportunity Assessment, By Origin, 2031F |
11.4 Turkey Tire Market Opportunity Assessment, By End Users, 2031F |
12. Turkey Tire Market Competitive Landscape |
ย 12.1 Turkey Tire Market Revenue Share, By Companies, 2024 |
12.2 Turkey Tire Market Competitive Benchmarking, By Operating Parameters |
13. Company Profiles |
14. Key Strategic Recommendations |
15. Disclaimer |