Automotive Industry in Serbia 2016-2020

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.

What's your takeaway?

Technavio's industry research report titled - Automotive Industry in Serbia, will help you-

• Identify latent opportunities and explorative solutions in the automotive industry in Serbia
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, all permutations and combinations inclusive

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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 marked by the presence of over 200 automobile manufacturers. The entry of several foreign and low-cost brands in the market is restricting the growth of domestic manufacturers. The international players in the market are currently increasing their customer base and are also focusing on increasing their R&D investments. The competitive environment in the market is expected to intensify with an increase in product lines and advances in technology.

Key vendors in this market are -

• FAP Serbia
• Fiat
• IDA-Opel
• Ikarbus
• IMT
• Zastava

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 Serbia?
• What are the key market trends impacting the growth of the automotive industry in Serbia?
• What are the challenges to market growth?
• Who are the key vendors in the automotive industry in Serbia?
• What are the market opportunities and threats faced by the vendors in the automotive industry in Serbia?
• Trending factors influencing the market shares of Serbia.
• What are the key outcomes of the five forces analysis of the automotive industry in Serbia?

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

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