Automotive Industry in Bosnia and Herzegovina 2016-2020

Overview of the automotive industry in Bosnia and Herzegovina

Extensive market research carried out by the analysts at Technavio has shown that the automotive industry in Bosnia and Herzegovina, which includes the motor vehicle parts and accessories market, will grow at a steady CAGR of over 7% by 2020. The increasing incorporation of electronic components in vehicles will be a noteworthy factor spurring market growth during the next four years. Recently, it has been observed that the dependence of vehicles on electronic components has increased drastically over the past few years. ESC systems improve the safety of vehicles by detecting loss of control and automatically applying brakes. The incorporation of electrical and electronic systems, such as those used to monitor temperature, emissions, voltages, current, vacuum, and torque has also increased as it helps manufacturers to differentiate their products from other competitors. A shift in customer preference toward automobiles incorporated with advanced electronics and differentiated accessories is propelling the demand for devices like infotainment systems and active and passive safety systems.

During the forecast period, the growing focus on innovation will help to spur the sale of automobiles in this region. The automotive industry in Bosnia and Herzegovina has been recognized as a high potential sector by the government of the country. Even though technological leaders in the automotive sector, such as Germany, the US, and Japan are at the forefront of innovation in automotive systems that contribute to vehicle safety and efficiency, manufacturers in the automotive industry in Bosnia and Herzegovina, including manufacturers of motor vehicle parts and accessories, are now focusing on innovations to capture growth opportunities, both domestically and abroad.

Segmentation of the motor vehicle parts and accessories market in Bosnia and Herzegovina

• Brakes and related components
• Wheel rims and related parts and accessories
• Parts and accessories for bodies of motor vehicles
• Silencers, exhaust pipes, and related components
• Automotive seats

During 2015, brakes and related components dominated this market and accounted for an impressive market share of almost 24%. The motor vehicle parts and accessories market in Bosnia and Herzegovina is driven by factors such as cost-effectiveness and high quality of its products. Bosnia and Herzegovina also has a great export potential due to its strategic location, as it provides manufacturers easy access to customers in the EU.

Competitive landscape and key vendors

This market is market by the presence of many well-established global manufacturers. The international players in the market are increasingly investing in R&D to consolidate their position in the market. The competitive environment is expected to intensify further with an increase in product lines and adoption of advanced technologies.

Key manufacturers in this market are -

• ASA Prevent Group
• Bosancar
• Buplast Bugojno
• Cajavec FSU
• EMKA Bosnia
• FAD Jelah (Subsidiary of Prevent Group)
• FUSOL Nevesinje
• Jajce Alloy Wheels
• Kolektor Bosna
• Panaflex
• Pobjeda Tešanj
• Polslovni sistem CIMOS TMD Automobilska industrija
• Saraj Komerc
• Skania
• Standard
• Unico Filter
• Unis Valjcici

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the automotive industry in Bosnia and Herzegovina?
• What are the key market trends impacting the growth of the automotive industry in Bosnia and Herzegovina?
• What are the challenges to market growth?
• Who are the key vendors in automotive industry in Bosnia and Herzegovina?
• What are the market opportunities and threats faced by the vendors in the automotive industry in Bosnia and Herzegovina?
• Trending factors influencing the market shares of Bosnia and Herzegovina.
• What are the key outcomes of the five forces analysis of the automotive industry in Bosnia and Herzegovina?

Technavio also offers customization on reports based on specific client requirement.

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