Latvia Tire Market Size: Regional Segment Analysis, and market revenue Forecast 2022-2031

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AMARILLO, TX , United States, Fri, 24 Jun 2022 05:56:22 / Comserve Inc. / -- Latvia Tire Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

"A research report on Latvia Tire Market was added by SDKI in its database which discusses the product as well as the scope of its market in detail. The report provides the business clients with an in-depth overview of the market, giving an analysis of the market trends, market size, market value and market growth over the forecast period on a compound as well as on a yearly basis. Further, the market study gives an overview of the industry on the basis of several factors such as the geographical extent, market segmentation, growth drivers and challenges prevalent in the market.

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On account of Eurozone debt crisis in 2008-2009, Latvia was hit by weak economic conditions, which resulted in high rate of unemployment, fiscal austerity, weak credit growth and high inflation, consequently impacting the automotive industry of the country. With a GDP of around USD31.28 billion in 2014, vehicle fleet (passenger cars & commercial vehicles) of over 746,000 vehicles and vehicle motorization rate of around 373 vehicles per thousand people in 2014, Latvia's tire market is poised to witness moderate growth over the next five years. In 2015, the passenger cars and light commercial vehicles collectively accounted for more than 80% of the total automotive sales, followed by two-wheelers and medium & heavy commercial vehicle sales in the country. This consequently led to highest volume sales of passenger car tires, followed by light commercial vehicle tires. Due to lack of automotive production in the country, demand for tires in the country is entirely met through imports.

According to the SDKI report, "Latvia Tire Market Forecast & Opportunities, Latvia tire market is anticipated to surpass US$ 1 billion on account of increasing volume sales of vehicles in the country and rapidly expanding fleet size. The vehicle fleet of the country is dominated by passenger car segment, followed by the commercial vehicle segment. As a consequence, the passenger car tire segment held a major volume share in the country's tire market in 2015 and its dominance is anticipated to continue during the forecast period as well. Leading global tire companies operating in Latvia include Continental, Michelin, Pirelli, Bridgestone, Goodyear, Toyo, Hankook, Nokian, and Kumho, among others. Rapid urbanization, expanding automobile fleet and growing infrastructure development have been identified as the major factors anticipated to boost demand for tires in the country over the next five years. "Latvia Tire Market Forecast & Opportunities report elaborates following aspects of tire market in Latvia:

? Latvia Tire Market Size, Share & Forecast
? Segmental Analysis - Passenger Car Tires, Medium and Heavy Commercial Tires, Light Commercial Vehicle Tires, OTR Tires & Two Wheeler Tires
? Policy & Regulatory Landscape
? Changing Market Trends and Emerging Opportunities
? Competitive Landscape and Strategic Recommendations

Why You Should Buy This Report?

? To gain an in-depth understanding of tire market in Latvia
? To identify the on-going trends and segment wise anticipated growth in the coming years
? To help industry consultants, tire companies and other stakeholders to align their market-centric strategies
? To obtain research based business decision and add weight to presentations and marketing material
? To gain competitive knowledge of leading players
? To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs.

Report Methodology

The information contained in this report is based on both primary and secondary sources. Primary research includes interviews with tire companies and industry experts. Secondary research includes an exhaustive search of relevant publications such as company annual reports, financial reports and proprietary databases.

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Table of Content1. Research Methodology
2. Analyst View
3. Product Overview
4. Latvia 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), OTR, LCV, M&HCV and 2W)
4.2.2. By Company
4.2.3. By Region
5. Latvia Passenger Car (PC) Tire Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Vehicle Type (SUV & MPV, Small & Compact Car, Sedan and Others)
6. Latvia Light Commercial Vehicle (LCV) Tire Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (Vans and Pickups)
7. Latvia Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Type (HCV and MCV)
8. Latvia Off-the-Road (OTR) Tire Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Vehicle Type (Industrial Equipment Vehicles and Agricultural Equipment Vehicles)
9. Latvia Two-Wheeler Tire Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Type (Mopeds and Motorcycles)

Get More Info: Latvia Tire Market"

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Lauren Brown

Shibuya Data Count
Email: [email protected]
Tel: +1 646 586 9123

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