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Overview of the paper manufacturing market in Serbia

Extensive research carried out by the analysts at Technavio has shown that the paper manufacturing market in Serbia will grow steadily at a CAGR of more than 3% over the forecast period.  The rising consumption of paper-based tissue and hygiene products is one of the primary factors driving this market’s growth in the coming years. Although Serbia’s GDP has been declining due to the recession, consumer spending on household paper products, such as tissues and personal hygiene has increased significantly due to the indispensable nature of these products. Moreover, the leading manufacturers in the country are also focussing on the provision of value-added products, such as personal wipes, facial tissues, and sanitary products at low costs. The catering and retail sectors are key end-users of tissues and are expected to contribute significantly to the demand for products such as kitchen towels and paper tableware.

One of the emerging trends propelling the growth prospects for this market is the augmented demand and production of recycled paper. Recycled paper is derived from fibers recovered from scrap paper. The consumption of recycled paper has increased drastically in the last few years, leading to an increase in production and imports of recycled paper in the country. The demand for products belonging to this segment is expected to contribute to the growth of manufacturers offering these products.

Competitive landscape and key vendors

The paper manufacturing market in Serbia is characterized by the presence of diverse regional and international manufacturers. However, as international players have established their footprint in the market, regional manufacturers are finding it increasingly difficult to compete with them - especially on aspects such as quality, technology, and pricing. The global manufacturers are...

Overview of the automotive industry in Serbia

Extensive research carried out by the analysts at Technavio has shown that the automotive industry in Serbia, which includes the motor vehicle parts and accessories market, is anticipated to grow rapidly at a CAGR of over 6% during the forecast period. Serbia is characterized by the availability of a competent workforce, which significantly enhances the productivity of manufacturers. The availability of a skilled labor force in the automotive industry in Serbia has led to an increase in productivity by 8% during 2004-2015. The availability of technical education, particularly in fields such as natural sciences and engineering, is a major contributor, and Serbian engineers are well-known for their technical expertise. Moreover, the introduction of joint graduate and post-graduate management courses by local universities and globally recognized business schools will also contribute to the growth of this market in the coming years.

The augmented demand for automotive aftermarket products, such as parts and accessories, is one of the upcoming trends propelling this market’s growth prospects. The demand for parts and accessories from the automotive aftermarket is expected to grow at a moderate rate. With Serbia’s economy showing signs of recovery, consumer spending on automotive aftermarket products is expected to rise considerably during the predicted period.

Product segmentation and analysis of the automotive industry in Serbia

  • Electrical and electronic equipment
  • Other parts and accessories

During 2015, the other parts and accessories segment led the automotive industry in Serbia and accounted for a market share of close to 60% in terms of revenue.

Competitive landscape and key vendors

The automotive industry in Serbia is...

Overview of the plastic and rubber manufacturing market in Serbia

Extensive research carried out by the analysts at Technavio has shown that the plastic and rubber packaging market in Serbia is witness slow growth and will post a CAGR of close to 2% over the forecast period. The majority of large and medium-sized manufacturers in Serbia are export-oriented, making the country a primary exporter of rubber and plastic products in Central and Eastern Europe. Moreover, the country also exports raw materials for plastics to major EU nations and other countries, which will, in turn, contribute to the country’s GDP and the growth of this market in the coming years.

The number of players in the plastic and rubber manufacturing market in Serbia increased drastically in the last few years. This number is anticipated to increase further primarily because of the growth potential of sectors such as plastic packaging goods and plastic profiles. Moreover, new entrants, particularly foreign manufacturers, are expected to set up their own production facilities in the country, which will spur the growth prospects for this market during the predicted period.

Segmentation by product type and analysis of the plastic and rubber manufacturing market in Serbia

  • Plastic packaging goods
  • Builders’ ware of plastic
  • Plastic plates, sheets, tubes, and profiles

During 2015, the plastic packaging goods segment led the market and held close to 41% of the market shares in terms of revenue. This segment is anticipated to witness strong growth during the forecast period, primarily because of the introduction of new products by manufacturers in the market.

Competitive landscape and key vendors

The plastic and rubber manufacturing market in Serbia is quite fragmented owing to the...

Outlook of the aluminum manufacturing market in Serbia

According to the market research analysts at Technavio, the aluminum manufacturing market in Serbia is anticipated to witness steady growth and will post a CAGR of close to 3% over the forecast period. The increasing demand for aluminum from the automotive sector is one of the primary factors driving the growth of this market in the coming years. The global automotive industry is witnessing an increased demand for fuel-efficient automobile, as rising fuel prices are prompting consumers to switch to vehicles that can provide better mileage. Moreover, the increasing emphasis on fuel economy has prompted automobile manufacturers to look for ways to reduce the weight of automobiles. This has resulted in OEMs incorporating components that are manufactured from lightweight materials like aluminum. For instance, several automobile manufacturers are using aluminum unibodies in automobiles to reduce the weight of automobiles. In a unibody, the body panels of an automobile are molded together to form a strong shell-like structure. This eliminates the need for rivets, screws, and welds, which helps in reducing overall weight. Such developments are expected to increase the demand for aluminum and provide potential growth opportunities for manufacturers in the market. They are also expected to lead to increased collaboration between suppliers of automotive aluminum and automotive OEMs during the designing phase.

The constant and steady inflow of FDI in Serbia is one of the emerging trends that is expected to propel this market’s growth prospects over the next four years. Advantages such as low cost of production related to the manufacture of aluminum products are attracting the attention of foreign manufacturers. For example, the Greek aluminum manufacturer, Alumil, is planning to set up a manufacturing facility near Cacak, a city in west-central Serbia, for the...

Outlook of the furniture manufacturing market in Serbia

According to Technavio’s market research analyst, the Serbian furniture manufacturing market will grow at a moderate CAGR of over 4% by 2020. Factors such as the strong demand from export markets will aid in this market’s growth during the forecast period. Serbia is signatory to free trade agreements, such as the CEFTA, and agreements with the EU and Russia. As a result, manufacturers in the furniture manufacturing market space in Serbia have gained from such agreements as they have facilitated an increase in export volumes. For instance, there is a large and growing preference for Serbian furniture in Russia because of their high quality and cost-effectiveness. Apart from entering into joint ventures with Russian manufacturers, Serbian manufacturers are also focusing on providing sub-contracting services to clients in Russia to enhance sales. The demand from Russia is also driven by the fact that a number of Serbian construction companies currently operate in Russia and source products, such as furniture, from manufacturers in Serbia.

In this region, the recent restructuring of business activities will also aid in spurring this market’s growth over the next four years. It has been observed that many manufacturers in the Serbian furniture manufacturing market are focusing on strategies to enhance visibility, sales, and exports of their products. Key companies such as Simpo are focusing on restructuring their business model to a demand-based model. The company aims to collaborate closely with interested buyers and satisfy market demand by manufacturing products according to demand, as opposed to producing furniture and then pushing their sales in the market. Utilizing this strategy, the company also aims to reduce the burden of unsold inventory. 

Competitive landscape and key vendors

In the past one year, the...

An overall also referred to as overalls, bib-and-brace overalls, dungarees, or party bibs, are a kind of garment that primarily serves as a protective clothing for workers slogging in extreme situations. It is made of a single fabric with a bib, has straps at shoulders, and many large pockets for keeping tools.  The use of overall has increased down the line with stringent government regulations over the use of protective clothing in industries, especially for thermal and mechanical applications.  Greater use of overalls among consumers can be attributed to the shifting preferences towards durable clothing that helps to work under dangerous conditions without any mishap.

The report, global coverall/overall market, is a part of Technavio’s new research areas portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as agricultural equipment, furniture and home furnishing, health and wellness, home kitchen and large appliances, lab equipment, and outdoor gear. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or...

Industrial Ethernet cables constitute crucial parts that are used for complete connectivity of various systems in a process plant. These cables offer solutions for effective networking and reliability. The Ethernet cables are chosen to keep in mind different criterions like solution requirement, data transfer requirements, environment, and type of equipment. The use of several advanced technologies, such as Internet of things (IoT), big data, cloud computing, and Industry 4.0, have necessitated the use of Ethernet cables among organizations. As more companies are shifting towards Ethernet compatible solutions, industrial Ethernet cables have a high demand among the key end-user segments like oil & gas, power, mining, and chemicals and petrochemicals industries.

The report, global industrial Ethernet cables market, is part of Technavio’s industrial automation research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automation and robotics. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.

Intelligent hearing protectors help workers to increase their ability to communicate with others and comprehend their working environments while working in high-noise conditions. The intelligent hearing protection equipment provides protection from continuous noise, specifically in extreme noise environments and remote work sites. Numerous workers across the industries suffer from preventable hearing loss annually due to the high workplace noise levels. To provide hearing protection to workers and also to overcome the issue of communication in high noise environments, several industries are adopting intelligent hearing protection system to enhance the hearing capabilities at such risky workplaces so that the workers are aware of their surroundings.

The report, global intelligent hearing protector market, is a part of Technavio’s new research areas portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as agricultural equipment, furniture and home furnishing, health and wellness, home kitchen and large appliances, lab equipment, and outdoor gear. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed...

Overview of the automotive industry in Bulgaria

Market research analysts at Technavio have predicted that the automotive industry in Bulgaria will grow at steadily and post a CAGR of close to 4% over the forecast period. Automobile registrations have been increasing in Bulgaria, with about 130,000 units registered in 2014. This rise in the number of on-road automobiles directly influences the aftermarket sales. Factors such as the increasing sales of imported automobiles and longer lifespan of automobiles in Bulgaria will lead to an augmented demand for automotive parts and accessories in Bulgaria. The use of automobiles for long periods influences consumers to increase their spending on automobiles, which is expected to create new opportunities for automobile manufacturers in the coming years.

One of the significant trends that will propel this market’s growth prospects is the increasing adoption of electronic devices in automobiles. A desire to differentiate their products has led automobile manufacturers to incorporate several electronic components in the vehicles. Moreover, consumers prefer automobiles incorporated with advanced electronics and devices, such as infotainment systems and active and passive safety systems, which is envisaged to aid in this market’s growth during the predicted period.

Product segmentation and analysis of the automotive industry in Bulgaria

  • Electrical and electronic equipment for motor vehicles
  • Parts and accessories for motor vehicles

During 2015, the electrical and electronic equipment segment dominated the automotive industry in Bulgaria and accounted for more than 70% of the market shares in terms of revenue.

Competitive landscape and key vendors

The automotive industry in Bulgaria is highly fragmented with more than 200 manufacturers...

Overview of the consumer electronics market in Bulgaria

Market research analysts at Technavio have envisaged that consumer electronics market in Bulgaria will witness staggering growth and will post an impressive CAGR of more than 10% over the forecast period. The smartphone segment is one of the key contributors to the consumer electronics market. Bulgaria’s accession to the EU and subsequent economic growth has led to the proliferation of the smartphones market. Moreover, the consumers in Bulgaria have access to the latest services, including 4G/LTE. This has also contributed to the growth of the smartphone and tablets market in the country. By the end of 2014, there were more than 3 million users of smartphones and almost 1.5 million users of tablets in Bulgaria. Also, as per Vivacom, a leading telecom services provider, there has been a boost in the penetration of smartphones in Bulgaria due to increasing popularity of Android-based smartphones in the market, which will aid in the growth of the consumer electronics market in Bulgaria.

Bulgaria is emerging to be one of the most sought after manufacturing hubs in southeastern Europe due to the availability of advanced manufacturing technologies, experienced workforce, and low competition. Most of the companies in this sector are either small or medium-sized enterprises and are generally export oriented. They manufacture products that cater to several industries including industrial, automotive, medical, telecommunications, military, lighting, security, defense, renewable energy equipment, and consumer electronics markets. The majority of manufacturers have implemented in-house quality management systems. Also, OEMs that develop and manufacture their own products offer services such as EMS to Bulgarian and international clients. Moreover, Bulgaria also offers other advantages such as low raw material and manufacturing costs, which are expected to attract...