A REPORT

ON

A STUDY ON FACTORS AFFECTING GLOBAL

WINTER TIER MARKET

BY

AKHIL B CHANDRAN

18BSP2861

ORION MARKET RESEARCH PVT. LTD

1
 A REPORT
ON

A STUDY ON FACTORS AFFECTING GLOBAL WINTER

TIER MARKET
BY
AKHIL B CHANDRAN
18BSP2861

A report submitted in partial fulfillment of the requirement Of

PGPM program Of
IBS Pune

Distribution List

Company Guide Faculty Guide

Mr. Muhammed Javed sheikh Prof. Anupama Tadmarla
Co-Director Faculty Member
Assosciate Dean & Dy. Accadamic
coordinator

Date of submission: 24th May 2019

2
 AUTHORIZATION

This is to certify that the project report entitled “to study the method of making a research
report in the field related to “Winter tire in Automotive sector” submitted by Akhil B Chandran
(18BSP2861) for the partial fulfilment of the requirement for the PGPM Program to be awarded
by ICFAI Business School, Pune, is recorded of his work under my guidance of Prof. Anupama
Tadmarla, faculty member, Associate dean and Academic coordinator of IBS Business School,
Pune and Company guide Mr. Muhammed Javed Sir.

I confirm that the report truly represents my work undertaken as a Summer Internship Program.
I also confirm that the content of the report and views contained herein have been discussed
and deliberated with the company and faculty guide

Company Guide Faculty Guide

Mr. Muhammed Javed Sheikh Prof. Anupama Tadmarla
Co-Director, Orion Market Research Associate Dean & Dy. Academic Coordinator,
IBS Pune

3
 ACKNOWLEDGMENT

On the completion of my project entitled, “Global Winter Tier Market Research by

Technology, by Type, by End-Users, And by Region Wise”, I would like to take the
opportunity to express our sincere gratitude towards the people who have been providing with
great help and external support in providing me confidence that I could do it. If not for their
help I would have faced lots of issues and wouldn’t be able to successfully complete my report.
Before going on any further, I would like to express my sincere gratitude towards Mr.
Muhammed Javed (Director-HR) for giving an opportunity for this internship, Mr. Mahesh
Mukati (co-founder) and Mr. Anurag Tiwari (Director) for their continuous support and the
trouble they took in imparting knowledge to me during my project and for providing me the
infrastructure and environment to make my project successful.

I am deeply grateful to my Faculty Guide Prof. Anupama Tadmarla Madam for her valuable
suggestions, comments, feedback and support throughout the internship.

I would also like to take this opportunity to thank Mrs. Prakruti Vaishnav, Mr. Brajendra
Raghuvanshi and Mr. Ankit Rai, as their constant help and support, helped me in completion
of this project successfully.

My special thanks to the entire analyst team of Orion market research for their guidance and
support.

4
 EXECUTIVE SUMMARY

This report provides information on "Growing demand for winter tires in the automotive
sector” and also helps to understand the major parameters considered while making a research
report. This demands special skill sets and the ability to have a critical analysis of major factors
that needed to be included in one research report. This report includes an overview on OMR
global, a short analysis of the concerned market, market drivers, market restraints, market
opportunities and estimation of the market size, and also forecast of the demand for the market
in a global context.

Taking into consideration of the respective market i.e. winter tire market in the automotive
sector, and the market is segmented into three major segments, for instance, by tire type, by
vehicle type, and by sales channel. The change in regulation in winter countries, was the winter
tires are made mandatory, for safety purposes, is considered as one of the important propeller
driving the market.

The methodology followed consists of extensive secondary research. The major sources from
where the data collected includes authentic public database, research papers, company's annual
report, and others. This methodology is more cost effective, as one could consider the
macroeconomic factors manually, which could, in turn, increase the quality of the data
collected.

The market estimation is one of the crucial factors that is been considered while launching new
products or services. Here market research is derived out from triangulation method, top-down
and bottom-up approach. Triangulation method comprises three steps, i.e. secondary research,
primary research, and parent market analysis, which are employed to get necessary data. The
bottom-up and top-down approach is used to estimate market values. These values play a
crucial role in deciphering the demand and opportunity of the market.

5
Some of the major challenges faced while preparing the report was sorting the data collected,
so as to get authenticated data. Due to the abundant data available on the internet, verifying
authenticity is proved to be one of the major challenges. Additionally, report preparation is a
time-consuming process.

6
 TABLE OF CONTENT

Authorization i
Acknowledgment ii
Executive summary iii
1. Company analysis 09

1.1. Orion market research Pvt. Ltd 10

1.2. Product Portfolio 10
1.3 SWOT Analysis 11
1.4. Market Introduction 12
2. Research Methodology 13
2.1 Objective 13
2.2 Data collection 14
2.3 Essential of Market Research Process 16
2.4 Strategy 17
3. Project Description 18
3.1 Market introduction 18
3.2 Motivators driving the winter tier market 20
3.3 Motivators, restrains, and opportunities 21
3.3.1 Motivators 21
3.3.2 Restraints 25
3.3.3 Opportunity 29
3.4 Market segmentation 31
3.4.1 Winter Tire MARKET BY Type 31
3.4.2 Winter Tire BY Vehicle Type 35
3.5 Company Profiles 42
4. Targets/Tasks 53
5. Achievements 56
6. Conclusion 57
7. Management learning 59
8. Recommendations and suggestions 59
9. Limitations 59

7
10. References 60

8
1. COMPANY ANALYSIS

1.1 ORION MARKET RESEARCH PVT. LTD.

Orion Market Research Pvt. Ltd. is an Indian based company established in 2015 and is based
in Indore, Madhya Pradesh. OMR is a firm specialized in market research activities and is
known for its qualitative and quantitative research reports. The company aims to provide global
clients with detailed insights into the market. The firm provides with syndicated research
reports, company profiling, consultation services, and customized reports to globally located
clients.

The company is employing extensive secondary research and primary research to generate
authenticated data according to the client requirement. The firm provides with a customer-
oriented report, which will assist the subscribers to identify their vital touch points, which could
be capitalized for gaining a competitive edge and revenue growth.

The main players who are providing with a competitive base to OMR are Grand View
Research, IMRB international, RNB research, Asplor research, Transparency Market research,
and so on.

1.2 PRODUCT PORTFOLIO

OMR reports represent the market analysis and insights including:

• The overview of product development

• Product portfolio

• Dominant regions and players

• Growth drivers

• Regional policies like tax laws, consumer intentions, governmental regulations, major
players and macroeconomic indicators.

9
The mission of OMR is to ensure sustainable development of the client’s company giving them
strategic advice on various features such as:

• Mergers and acquisitions

• Joint ventures

• New manufacture technologies

• Production facilities

• Expansions

OMR provides its services mainly in four types:

• Industry Reports

• Consulting

• Custom Reports

• Company Profiling

10
 1.3 SWOT ANALYSIS:

Every business needs a realistic picture which depicts its position in the market. This is done
by analyzing the strengths, weaknesses, opportunities, and threats to the organization. One such
SWOT analysis of Orion Market Research Private Limited can be found below:

STRENGTHS WEAKNESS

1) Timely delivery of services and 1) The organization‘s marketing channels are not
exclusiveness in providing services and apt to market its services in an efficient way.
solutions 2) Being a relatively New Brand in the Market.
2) Quality content in the report and thorough 3) Inadequacy in channelizing the human
analysis was done by the team. resources is the major setback in the
3) A set of knowledgeable employees with rich organization.
experience. 4) The company doesn‘t own any specific tools for
4) The healthy work environment at the office. data security.

OPPORTUNITIES THREATS

1) The company should focus on modern 1) Presence of a large number of market research
marketing trends and tactics like digital companies.
marketing, social media marketing to the full 2) Reliability and authenticity of data are required,
extent. the piracy of contents is another threat for the
2) It should observe other organizations of the organization.
same industry to gain competitive insights.

11
2. RESEARCH METHODOLOGY

2.1 OBJECTIVES:
• To analyze the global winter tire market with respect to the tire type and by vehicle
type.
• To analyze the factors which drive the market to grow, restraints and trends of the global
winter tire market.
• To analyze the companies present in the market and their competitive Landscape.

The primary objective of SIP (summer internship program), is to have an in-depth

understanding on various operational processes considering market research activities, how to
check the authenticity of the data retrieved, compiling of the data collected in a meaningful
report format. This program was organized by IBS Pune, with the cooperation of Orion Market
research Pvt. Ltd. This report is majorly meant as a product preparation for OMR Ltd.

The project also includes a detailed study on various markets, understanding the views of both
clients and firm, having a critical analysis of the data collected, generating values, which could
help the clients to fulfill their objectives and so on.

Winter tires are a niche market and are restricted to cold regions, thus acting as a restraining
factor for the expansion of the market. Additionally, there are few combined industry specific
and macro-economic factors, which is influencing the growth of the market. Even government
regulations are making it mandatory for the use of winter tires, in many areas.

2.2 DATA COLLECTION

The market study of the global winter tire market which is incorporated by extensive primary
and secondary research conducted by a research team at OMR. Secondary research has been
conducted to refine the available data to break down the market in various segments, derive
total market size, market forecast, and growth rate. Our team collects facts and data related to
the market from different geography to provide a better regional outlook. In the report, the
country-level analysis is provided by analyzing various regional players, regional tax laws and
policies, consumer behavior and macroeconomic factors. Numbers extracted from secondary

12
 research have been authenticated by conducting proper primary research. It includes tracking
down key people from the industry and interviewing them to validate the data. This enables
our analyst to derive the closest possible figures without any major deviations in the actual
number. Our analysts try to contact as many executives, managers, key opinion leaders, and
industry experts. Primary research brings the authenticity of our reports.

Secondary market research sources:

Secondary research is based on the previous data collected from the previously conducted
researches. These research is based on the tested and tried data, which is filtered and analyzed
well before-hand. Secondary research is compact and quick and more cost effective than the
primary research methods. The secondary research methods are much more quicker in nature
as, the data are already available. If the researcher knows the right place to explore, it is
easier to find the relevant data.

Secondary market research is mainly based on the collection and subsequent conclusion of
information from different sources. The two main types of secondary market research sources
are as follows:

➢ Internal sources- Internal sources are secondary research sources which already exist and are
collected in the company database or file system. Internal sources include information which
has already been gathered and which is useful for projects in the future, etc. Internal sources
may be sufficient for most businesses to develop new products and services so they may not
have to look outside.
• Balance sheets – Previous corporate balance sheets may be provided to find statistics
and figures that can be useful for assessment.
• Profit and loss statements – Profit and loss reports can be consulted to ascertain the
types of products and services that have previously resulted in profits.
• Inventory records – This is another data piece which can be employed as a source for
secondary market research and focuses on numerous figures and statistics.
• Sales figures – Companies store previous sales figures to analyze them and use them
for further research.
➢ External sources- In the case of insufficient or inadequate information from internal sources,
external sources may be utilized. External sources are those which contain data collected by

13
 other companies or persons. These are collected from outside the environment of the
company and include several sources. External sources may be wide and diverse and a
controlled approach to evaluation must, therefore, be followed.
• Government sources – Various government sources can be used to gather much useful
information on several topics.
• Universities and colleges – Several college students and researchers collect and file
information which companies can use further.
• The Internet – The Internet is the most widely used source of secondary market
research, although it has the drawback of several non-credible information sources.
• Competitor data – Companies often use the information collected and filed by others,
including the information collected by their competitors.
➢ Authenticity of the report is confirmed by adding the source of the data in all possible places.
So the user could check the authencity of the data themselves
➢ The firm is having their, own team of editors, who are responsible to check the authencity
and the quality of the data collected.
➢ The firm is acquiring data from WHO (world health organization) and CDC (centre of
disease control), if the data taken is related to the healthcare. First WHO is considered, then
the value taken is compare with CDC, if the value matches, then the data is authenticated. If
there is a mis-match, CDC is considered more worth as CDC gets updated with recent data
on yearly basis, whereas WHO is updated once in five years.
➢ If the data is regarding the automotive industries, OICA is preferred as they provide the data
regarding all automobile manufacturers worldwide.
➢ The facts and figures of the companies profiled are taken from their financial and annual
reports, which are available in their official website.

SOURCES OF SECONDARY DATA

Data Source Example

Internal data Company reports, memos etc.

Syndicate data Syndication services like AC Nielson

Expert advice Newspaper, interviews, reports

14
 Internet Various search engines, portals, and
websites
Macro data Government and international publication

Industry data Industry or trade associations

Market research report Independent market research firms

2.3 Essentials of Market Research Process

The market research involves some of the essentials processes which are the prerequisite to
executing the aim of market research. Data is the prime fuel of the entire market research
industry; hence data collection is the first and prior most step towards market research. The
sources of data can be categorized as primary and secondary wherein primary data is gathered
by researchers on efforts (Surveys). The secondary sources of data include existing resources
of a company or other related organization; annual reports, research studies, books are some of
the secondary data sources.

The research methodology which is used to achieve my project title is secondary. The
secondary research sets itself apart, here the data from existing resources are used to address a
particular research objective. The information is gathered from various sources such as Annual
report and financials of the company The insights of secondary research is used to draw market
trends, growth rate, and other competitive landscapes.

2.4 STRATEGY

• Through checking of secondary sources of data for authenticity.

• Making it specific to employ the usage of government authenticated sites for
collecting data.
• Data collected through primary resources are also checked for authenticity.
• Filtering of data collected on a regular basis, and constant removal of unwanted data
or redundant information.

15
 • Specifically concentrating on producing unique report having authenticated, sorted
and categorized data.

3. PROJECT DESCRIPTION

3.1 MARKET INTRODUCTION

GLOBAL WINTER TIER MARKET RESEARCH BY TECHNOLOGY,

BY TYPE, BY END-USERS, AND BY REGION WISE

Winter tiers which are also called as snow tires are those tires designed specifically for the use
of ice and snow. These tires are having a larger gap, tread design, compared to as those on
summer tires, which is employed to increase the traction on ice and snow. These tires are
specifically designed for optimized winter conditions, to drive t temperature below 7°C (45
°F). Snow tires also come with ceramic or metal studs that will be protruding from the tire,
which will help to increase the tire traction, on hard packed roads. Winter tire could be operated
in various surfaces, including wet or dry pavements, mud, ice, and so on. The design on the
tread is mainly incorporated so as to allow penetration into thread, where it gets compact and
will provide resistance against slippage on such roads. Moulded holds are embedded in
studdable tires, on the rubber tire thread.

The major factors boosting, the growth of the winter tire market is the growth in the automobile
industry. Rising growth in the automobile industry particularly in countries with cold climates,
a growing number of automobiles for both personal and commercial uses, growth of Winter
Tires hand in hand with vehicle production are the key driving factors for the market growth.
Winter tires are a niche market and are restricted to cold regions, thus acting as a restraining
factor for the expansion of the market. Additionally, there are few combined industry specific
and macro-economic factors, which is influencing the growth of the market. Even government
regulations are making it mandatory for the use of winter tires, in many6 areas.

The market for winter tires is mainly driven by seasonal wintery road conditions, and for lower
temperatures in northern countries and regions such as Europe, Russia, and North America.

16
These conditions have translated into various demands for increased driving safety from
motorists, insurance companies and, not least, governments at country and state/province
levels. Despite the regulatory support, however, demand is still highly influenced by the
severity of winters – making it difficult for manufacturers, distributors, and raw material
suppliers to plan, and raising the prospects of periodic shortages or excess supply.

The major market players regarding the winter tire market are Michelin, The Goodyear Tire &
Rubber, Continental Aktiengesellschaft, Pirelli, Sumitomo Rubber, Toyo Tire & Rubber,
Hankook Tire, Cooper Tire & Rubber, Triangle Tyre, Nokian Tyres, Cheng Shin Rubber,
Kumho Tire, N.V. Apollo Vredestein BeLux, Giti Tire, Bridgestone, Hangzhou Zhongce
Rubber, The Yokohama Rubber, Nizhnekamskshina Joint Stock, Nankang Rubber Tire, Nexen
Tire. All these companies are challenging with each other in terms of sales, demands, reliable
product development, revenue generation, and also post-sale process at the global level.

17
3.2 MOTIVATORS DRIVING THE WINTER TIER MARKET

There has been rapid growth in the automobile industries, particularly in various countries who
are having cold climates. It is noted that, with the growth in the automobile sector, both for
commercial and personal uses, which solidify the fact that the growth of winter tier market
goes hand in hand with vehicle production. Vehicles had become much more of a commodity
rather than a luxury product because of the increased disposable income, which leads to the
increased demand for automobiles thereby influencing the growth of winter tier market
directly. Additionally, many cold climate countries are making the use of winter tier
mandatory, due to various security issues. Further many companies have also offered premium
discounts on the vehicles equipped with the winter tier which certainly acted as a boost in the
growth of the market.

Premature breakage of snow chains due to the harsher weather climate is one of the impelling
facts that is driving the market. Premature breakage could be occurred due to various reasons.
If attention is not given and a vehicle is driven on any bare pavement, without snow for an
increased period, then the chain could break due to high friction. Other factors which could
lead to the chain breakage are the twisted links present in the chain itself. When vehicles are in
motion and if the chain gets twisted, then chances of premature breakage of chain occur due to
the exertion of immense pressure on joints. Additionally, factors such as high-speed driving,
the excessive spinning of tires could result in the premature breakage of snow chains. All these
factors have led to the increase in popularity of switching over to winter tires, which acted as
an additional propeller to the market.

Apart from all this, a combination of industry-specific and macroeconomic factors which are
influencing the demand for winter tires. Various governments, change in current regulations
and making the use of winter tier mandatory, was an important driver which propelled the
market. Countries which are having extreme climates such as the US, Canada, UK, Germany,
and Scandinavian countries, have already made the usage of winter tier mandatory. In
Scandinavian countries usage of winter tier in HCV (heavy commercial vehicle), is regarded
most important. All these changes in regulations, have spiked the demand of winter tier and is
still driving the market.

18
3.3 MOTIVATORS, RESTRAINS, AND OPPORTUNITIES

3.3.1 MOTIVATORS

A] Safety Issues Associated With The Use Of Winter Tire In Extreme

Conditions

Winter tires generally operate on a variety of surfaces which includes ice, mud, snow,
and wet or dry pavement. The main aspect of a winter tire is that the tread design of
tires are primarily employed, in order to allow the tires to penetrate the snow into the
tread, which in-turn compacts and bestow with resistance against slippage issues. The
properties of snow are one of the governing factors which determine the strength
developed by compaction, which is internally depended on the temperature and the
water content. Wetter and warmer the snow is much easier snow compacts, compared
to dry and colder snow. This phenomenon happens up to a particular point, where snow
b3comes wet enough, which will, in turn, lubricate the tire-road interface. The snow
could be categorized into powdered snow and compact snow which are having densities
of 0.1 to 0.3 g/cm3 and 0.45 to 0.75 g/cm3 respectively.

Apart from slippage issues, snow-covered roads could lower cornering and braking
friction, are also considered as a major issue since it could increase the rate of accidents.
When the temperature goes below -70C, snow crystals become harder and this will, in
turn, generate more friction when tires are passed through them, than in warmer road
conditions. Although, as the temperature rises above -2oC, the presence of free water
will increase the lubrication, which in turn will reduce the friction on the road.
Hydrophilic rubber compounds, present in the winter tires, will help to create friction
during the presence of ice and water.

The other issues related to winter and snowy roads are reduced steering ability, reduced
traction, the increased time is taken for a vehicle to stop and so on. Black ice is yet
another serious issue faced by the drivers, during winter times. Black ice is ice formed
without having any bubbles inside it, which makes the ice transparent. Black ice is

19
 extremely dangerous as they are difficult to spot them. The only way, when one realizes
that they stepped on black ice is when the vehicle started to slide.

ACCIDENTS IN CANADA, DURING WINTER TIME FOR PAST 20 YRS

Data of Accidents happened in Canada during

winter season
20000
18000
16000
14000
12000
10000
8000
6000
4000
2000
0

Fatality Serious injuries

Source: Canada.ca (Canadian motor vehicle traffic collision statistics)

From the data collected from Canadian motor vehicle traffic collision, it's obvious that
in earlier years, during winter time, fatalities and serious injuries were more compared
to the recent times. In older times, winter tires were not been generally used. Safety
instructions and safety tips were provided to citizens. But as time passed away, and the
accidents were not reducing the government made strict rules regarding the adoption of
winter tires. After the adoption of winter tires, the rate of accidents has considerably
decreased.

20
B] Regulatory Changes Which Made Use Of Winter Tire Mandatory In Many
Areas

In Russia, light vehicles and buses should be equipped with 3PMSF or M+S tires on all
axles, from December to February. It is also mandatory in Russia to have a minimum
tread depth of 0.2 in (4 millimeters).
In Japan, Except for Okinawa province, all other regions are required to have motorized
vehicles, fitted with tire chains or winter tires, if the road is slushy or filled with snow.
It is also mandatory to replace the tire if it was founded that tread grooves are worn off
by 50% of its actual depth. The drivers who are not complying with these regulations
are fined by authorities.
In Austria, winter tires are made compulsory from November 1 to April 15. The drivers
are at risk of getting a driving ban and heavy fines if one is not complying towards the
rules. Trucks must be equipped with M+S tires on minimum one drive axle with a min.
the tread depth of 6 mm (bias) and 5 mm (radial). Winter tires are also made compulsory
for buses from November 1 to March 15.
In the Czech Republic, the winter tires are made compulsory from November 1 to
March 31 depending entirely on road conditions in winter or if it is indicated by "winter
kit" sign. M+S tires are also made compulsory on the drive axle of vehicles having 3.5
t GVW with min. 6 mm tread depth.
In Finland region, vehicles that weigh above 3 t GVW, it'd been made mandatory during
the months December to February on all the axles, having a minimum tread depth of
3mm. Winter tires are mandatory on the drive and steer axle, but are not defined in the
legislation.
In France, there are as of no general restrictions orb having any specific winter tire
regulations. There are a few particular exceptions, which are indicated by traffic signs.
In France region, the places marked with B26 sign, such places required to have winter
tire attachments.
In Germany, during some certain extreme winter situations, vehicles weighing more
than 3.2t GVW must be equipped with3PMSf tires who are been marked with the
Alpine-Symbol on all axle positions from 1 st January 2018 onwards. M+S category tires
manufactured before January 1, 2018, are accepted as suitable winter equipment until
September 30, 2024. From July 1, 2020, at the latest, tires marked with the Alpine-
Symbol are also mandatory for front steer axles.

21
 REGIONWISE USAGE OF WINTER TIRES IN CANADIAN PROVINCE IN
2014 AND 2016

Winter tire use by region (Canadian consumer)

120

100

80

60

40

20

0
Atlantic Quebec Ontario Manitoba Alberta British
Canada Colombia

2016 utilization 2014 utilization

Source: Canada.ca (TRAC winter tire report Canadian motor vehicle traffic collision statistics

It is very evident from the graph, that there had been a steady increase in the usage of
winter tires in Canadian provinces. In the data above mentioned, except for Quebec,
which already has full utilization of winter tire, all other provinces where been sighted
with a noticeable increase in the usage of winter tires.

22
3.3.2 RESTRAINTs

A] Unstable Raw Material Prices

One of the important challenges faced by the winter tire and tire market is the volatility
of the raw materials indulged in the manufacturing process. The frequent fluctuations
in the price of rubber could create higher volatility with associated raw materials. For
instance, if the price of rubber is effected, both natural rubber and synthetic rubber's
price will also be affected. Due to this volatility, predicting the prices of related rubber
raw materials have become a tedious process.
When considering the raw material pricing strategies of various companies had given
in their annual report, it is very evident that they all are keeping a close watch on the
issues related to raw materials. The Cooper tire & rubber company clearly indicated in
their annual reports that, their raw material index is just down by 2%, but hence they
are hard to predict, they are keeping a close eye on the prices.
Goodyear referred in their annual report, that they are expecting a benefit of around $25
million, as the raw material cost is expected to be roughly flat throughout the year. In
other words, one could say that the prices of the tires will be directly depended on the
price of the raw materials. If the price of the raw material fluctuates, in this manner, it
will be difficult to estimate the pricing features associated with any rubber products.
Many firms are employing, their strategy by changing their focus onto price and product
mix so that they could substitute the original raw materials with lower cost materials as
per possibility. Few companies are even focusing on to identify additional substitution
opportunities, so as to reduce the amount of material required in each tire.
One of the main reason for this fluctuating pricing of rubber is because of the weaker
economic conditions in the US and China, that occurred in 2012. Additionally,
Southeast Asian countries account for 90% of total rubber sales, and because of these,
when one economy fell down, the rubber price as a whole went down.

23
 REGION WISE USAGE OF WINTER TIRES IN CANADIAN PROVINCE IN
2014 AND 2016

Price of Natural rubber in $

7

0
Dec-10

Jun-13

Dec-15
May-16
Apr-09

May-11

Apr-14
Sep-09
Feb-10

Sep-14
Feb-15
Jul-10

Nov-13

Jan-18
Jul-15
Mar-12

Jan-13

Mar-17
Aug-12

Aug-17
Oct-11

Oct-16
Rubber (Asia), RSS3 grade, Singapore Commodity Exchange Ltd (SICOM)

From the data received from SICOM, one could very well see the fluctuating prices of
rubber. The extent of fluctuation is very visible as the highest rate reported was $6.26
on Dec 2010 and the lowest was reported on Sep 2014 of $1.26. Additionally, from the
data, it's obvious about the volatility of the rubber pricings.

B] Environmental Impact Of Studded Winter Tires

It's a piece of well-known information that, studs are employed in the tires, in order to
increase the traction on icy surfaces. Although, in the long run, people came to notice
24
about the challenges studded tires causes towards pavement erosion. Studded tires had
been showing to cause significant damage to both flexible and rigid pavements.
Additionally, studded tires would create ruts which will in-turn will be filled with ice
and will result in hydroplaning. These categories could also erase pavement markings.
Apart from all these factors, when aggregates are polished, it will result in the reduced
skid resistance and hence creates more slippery driving surfaces.
There are a few typical parameters, which influences the pavement damage. These
parameters include stud protrusion length, stud weight, number of studs per tire, vehicle
speed, types of the pavement surface and so on.
Apart from causing damages to pavements, these studded tires are also creating another
serious environmental issue. When these tires grind away the surface of pavements, it
will produce a special kind of dust particles, which are believed to contribute towards
respiratory issues and cardiac problems, when those particles are being directly inhaled.
The studded tires are banned in many states due to the pavement damages. It's also been
observed that these dust particles are causing biological changes in tissues. As a result,
the cells are experiencing inflammation, which is an underlying process of respiratory
and heart diseases.
The places such as Germany, Japan, Belgium, Holland, the US (Illinois, Maryland,
Minnesota), had already banned the use of studded tires. The states which allow the
usage of studded winter tires have mad strict regulations, such as usage of a winter tire
is accepted only during the winter season. Generally, winter tires are allowed to use
only during the months of late October to the start of April. In some provinces, many
extra restrictions are being kept on the studded winter tires. The studded winter tires
are not allowed in open graded wearing courses, as they are highly prone to studded tire
wear.

25
3.3.3 Opportunity

A] Increasing snow sport activities

It is widely observed that there are huge scopes for snow sporting activities. These snow
sporting activities include skiing, snow hiking, snow trekking, husky sledding trips,
travel through ice tunnels, snow cycling, snow hockey, and so on.
It is observed that the Europe region is having many tourism options during the winter
time. Comparatively, Europe regions are having more number of visitors, who are
coming to enjoy the winter. But it is also observed that the racing events occurring
during the winter time are comparatively less. Hence there are many opportunities for
new winter tire products, which could be employed for racing activities. When there
is the availability of huge audience during the winter time, and if the regions decide to
conduct racing events, adventurists and racing enthusiasts is not going to miss the
chance of seeing any such events.
SPREAD OF SKIERS UPON COUNTRY OF ORIGIN (TOTAL ESTIMATE OF SKIERS =120
MILLION)

Spread of skiers upon country of

origin(Total estimate of skiers=120 million)

1% America
19%
32%
E-Europe & Central Asia
W-Europe
30%
18%
Alps
Others

Source: European tourist services, unwto.org

The above data clearly indicates the dominance of the European region is having over
the snow sports activities. More than 45% of the winter sports activities are taken
place in Europe and it is possible to add on to the extra features. European region will
be the best place to launch the new tire products, which could be employed for racing
purposes.

26
Adding on to the extra features. European region will be the best place to launch the
new tire products, which could be employed for racing purposes.
MARKET SHARE IN WORLDWIDE SKIER VISITS (TOTAL YEARLY SKIER VISITS =400
MILLION)

14% 21%
America

10% E-Europe & Central Asia

W-Europe
44% 11%
Alps
Others

Source: European tourist services, unwto.org

Even if the market shares are considered, the Alps region is having the dominance of
44%, closely followed by other European regions. When the whole European region
is considered as a whole, more than 50% of total market shares, related to winter
sports are lying within the European region. Hence it is very evident of having many
future perspectives, which could be targeted towards the tourists and adventurists.

27
3.4 MARKET SEGMENTATION

3.4.1 Winter Tire MARKET BY Type

Due to the various issues faced during winter time, for transportation, it becomes
inevitable for the demand for new technology. The technology employed to provide
traction, during winter time, includes snow chains, winter tires, and special types of
equipment. Winter tire could be classified into studded tires and friction tires. Both
these technologies were being improved in a timely fashion. After employing the
winter tires it was noted that factors such as durability, traction, and driving are
improved. These factors are dependent on stud tire systems, treads, kind of studs
employed, materials and tire structures. Due to geographical factors related to the
region, roads, pavements, the tires employed varies too. For instance, in Germany, tire
manufactures develop tires which are suitable for driving on wet highspeed freeway,
at the same time compromising the ice on the road. Likewise, manufacturers from
Nordic countries are also considering traction on both ice and snow. The studded
winter tires and stud-less winter tires are the most important categories among the
winter tires.
Winter tires

studded winter tires

Studless winter tires

28
A] Studded winter tires

Studded tires are those who are having metal studs embedded within the tread of the tires.
These studs that protrude out of the tire will provide traction on ice and snow. These studs are
typically designed so as to dig into the ice, which will provide added traction. Original studs
used in earlier days were made of steel, later on, it changed into designs having a steel jacket
with a tungsten carbide pin, which are closely similar to today's conventional studs.
When these tires start to wear out, stud protrusion started to increase, which resulted in the
subsequent pavement wear. The stud technology faced with frequent updates, such as new
square stud was introduced in the European market in Nokian Hakkapelitta, which portrayed
numerous lightweight and conventional studs.
In general, studded tires could be categorized into two types. They are:

• Conventional studded tires

• Lightweight studded tires

Conventional studded tires come with steel jacket attached with tungsten carbide pin. The mass
of these studs is being specifically mentioned for various vehicles. For passenger cars, its 1.9g,
for vans 2.4g, and trucks could have the mass range between 2.8-9.3g according to truck
specifications. Conventional studs are typically single flanged.
Lightweight winter tires are made of polymer jacket or lighter metal composites, which are
attached with tungsten carbide pin. The mass of these studs is being specifically mentioned for
various vehicles. For passenger cars, its 1.1g, for vans 2.3g, and trucks could have the mass
range between 3g for the truck. This winter tire comes with both single and double flanges.

29
B] Stud fewer tiers

Studless winter tires are also known by another name, i.e. friction winter tires. As the
name suggests, friction winter tires are designed specifically with special winter tread
patterns and sipes, which are employed to increase the traction on wet pavement, snow,
and ice. In recent years, studless tires had become more preferred, instead of relying on
metal protrusions in the tread, these tires lean on tread designs, new rubber compounds,
and other technologies.
The various new rubber compounds, which are being employed in tire manufacture are
silicon carbide, aluminum oxide, safflower, low aromatic oils, and so on. In winter
conditions, non-winter tires rubber tread becomes stiffer, and as a result, they will lose
their purpose and becomes hard to ride even on dry road irregularities. Were as, modern
studless tires are capable of maintaining flexibility in lower temperatures, because of
the new rubber compounding being added. This increased flexibility will permit the tire
to maintain traction on icy, snowy, dry and wet driving surfaces.
Studless tires are having deeper tread depths than all-season tires and summer tires.
These deep treads are allowing the tire with proper snow on snow traction, and also
helps to manage slush dispersion and snow. These tires are managing to provide proper
traction through, packing the snow within the tread blocks. Apart from rubber
compounds, there are also sipes, which are the tiny slits present in the tread patterns.
These sipes help with stopping, acceleration and deceleration.

30
 3.4.2 Winter Tire BY Vehicle Type

It has become a necessity, considering the safety issues arise due to the loss of traction, and
other road accidents. All-season tires, which are considered to be useful on all climates. But
lately, it has been discovered that all season tire rubber is not suitable or optimized for extreme
winter conditions.

Considering this fact, for the improved safety features and to create more traction while riding
winter tires are being employed. The winter tires are categorized according to the vehicle types.
They are as follows:

• Passenger cars

• Commercial vehicles

• Heavy motor vehicles

Passenger cars

Winter tire
by Vehicle
type
Heavy motor vehicles Commercial vehicles

31
 A] Passenger Cars

The particular facts about winter road conditions are that most of the highways, roads,
connecting roads, alleys, close to everything will be covered in snow. In most of the winter
countries, winter season strikes hard by the start of October. In these extreme conditions,
transportation of the people, from home to the workplace, to fulfill their daily needs, for
traveling purposes, mostly all are using passenger cars for their daily use. By changing the tires
from normal tires to winter tires, in this season, will reduce the chances of meeting with an
accident due to traction problems and slippage issues.

In addition, one has to be considerate about fixing matching winter tires on the primary drive
axle. Apart from this, one needs to see that they are not mixing up with various winter tires, as
tires having different tread patterns, having different size compromising stability and internal
construction, should be avoided for safety purposes. Dunlop winter Maxx WM01, Michelin X-
Ice Xi3, Blizzak WS80, Pirelli winter sottozero3, and so on are the few popular passenger
winter tires available on the market.

PRODUCTION OF PASSENGER CARS IN E.U (2017-2018)

- EUROPEAN UNION New Members

UNITED KINGDOM
SWEDEN
SPAIN
PORTUGAL
NETHERLANDS *** AS OF 2013, FIGURES ONCE A…
ITALY
GERMANY
FRANCE
FINLAND
BELGIUM
AUSTRIA

0 4,000,000 8,000,000 12,000,000

YTD 2017 Q4 YTD 2018 Q4

Source: OICA, International Organization of Motor Vehicle Manufacturers

32
From the above data, which is bifurcated only towards the European Union, is showing the
comparison of two years, i.e. 2017 and 2018. The graph indicates the increase in the production
of just in E.U area. If the number of vehicles is constantly increasing, obviously, the need for
these vehicles to be attached with winter tire, during the winter season, and for a single
passenger car, it takes 5 tires, and hence just in 2018, E.U have experienced with an increase
of 1,78,825 passenger cars just in E.U. Even if we consider 25-30% of total cars are only
attaching winter tires, still there will be a average production of 2,68,237 winter tire which are
attached to 30% of total passenger tires produced. Considering the price of average winter tire
(Blizzak WS80) i.e. $131, it is generating to a total sales of around $35,139,100, just in the
European area.

33
B] Commercial Vehicles

A commercial vehicle is considered as those motor vehicles which are being used for paying
passengers and transportation of goods. The E.U had defined a commercial vehicle as, any
motorized vehicle which is capable of using for transportation of more than nine-person,
including the driver. Apart from traveling vehicles, those who are transporting goods and fuel
tanks.

The commercial vehicles who are traveling long roads, hilly roads and so on need to carry
chains or other traction devices, and should comply with all signage and regulations. In the
older days, carry chain was more preferred, but as time passed away now winter tires are also
employed. When commercial vehicles are traveling for long distance, they are sure to find road
filled with snow and slushy road conditions.

It had been made mandatory to attach winter tire and carry chain, in many provinces. The dates
of the mandatory regulation start from the start of October and extend to the end of March,
throughout the provinces. For other regions, such as mountain passes, rural routes, the date had
been extended till the end of April.

In most of the cases with commercial vehicles, the winter tires used are having more aggressive
tread pattern and high load rating, which offers outstanding traction in slushy roads or snow
filled roads. The winter tires employed for commercial vehicles needed to meet the standards
of Ministère des Transports du Québec requirements under Bill 42. The popular winter tire
products used for commercial vehicles are Michelin-LTX winter, Good year- Ultra grip ice
WRT LT, Blizzak W965, Cooper- Discover M&S and so on.

34
 PRODUCTION OF LIGHT COMMERCIAL VEHICLES IN THE US
(2017-2018)

Total Sales of light Commercial

vehicles in the US region
14,000,000
12,000,000
10,000,000
8,000,000
6,000,000
4,000,000
2,000,000
0
AMERICA - NAFTA CANADA MEXICO - SOUTH
AMERICA

YTD 2017 Q1-Q4 YTD 2018 Q1-Q4

Source: OICA, International Organization of Motor Vehicle Manufacturers

From the above data, which is bifocated only towards the US region, is showing the
comparison of two years, i.e. 2017 and 2018. The graph indicates the increase in the production
of just in the US area. If the number of vehicles is constantly increasing, obviously, the need
for these vehicles to be attached with winter tire, during the winter season, and for a single
lighter commercial vehicle, it takes 5 tires, and hence just in 2018, the US has experienced with
an increase of 5,61,472 lighter commercial vehicles. Even if we consider 25-30% of total cars
are only attaching winter tires, still there will be an average production of 7,01,840 winter tire
which is attached to 25% of total passenger tires produced. Considering the price of average
winter tire (Blizzak W965) i.e. $187, it's generating up to a total sales of around $131,244,080,
just in the American region.

35
C] Heavy Motor Vehicles

Heavy motor vehicles are those motor vehicles which are designed for the carriage of high
loaded commodities, transportation of large machines from one place to another, to transport
people in large numbers from one place to another, and so on. These heavy motor vehicles need
to travel larger distances and will need to traverse through different kinds of roads. On normal
dry road conditions itself, they need to pay extra details, so as to drive safely. But in winter
conditions, it becomes more dangerous due to traction and slippage issues occurring in snow
filled and slushy road conditions. Additionally, if these heavy vehicles meet up with accidents,
it will be very difficult, and the rest of the traffic will also be blocked. Considering all these
facts, winter tires had been made mandatory, for heavy vehicles, in winter countries.

Heavy motor vehicles which travel long roads, hilly roads, and so on, need to carry chains or
other traction devices and should comply with all signboards and regulatory requirements.
Carry chain was favored in the earlier days, but as time passed by, winter tires are often used.
When heavy motor vehicles need to travel greater distances, they would undoubtedly
experience roads covered in snow and slushy road conditions during severe winter times.

Affixing winter tires and carrying snow chains was made mandatory in several provinces. The
mandatory regulation periods begin from the start of October and will be extended throughout
the provinces till the end of March. The deadline had been extended until the end of April for
other parts such as mountain routes, rural routes, forest areas.

36
 PRODUCTION OF LIGHT COMMERCIAL VEHICLES IN THE US

(2017-2018)

70,000
60,000
50,000
40,000
30,000
20,000
10,000
0

YTD 2017 Q4 YTD 2018 Q4

Source: OICA, International Organization of Motor Vehicle Manufacturers

From the above data, which is bifocated towards Austria, Belgium, Italy, Portugal, Spain, and
the UK, is showing the comparison of two years, i.e. 2017 and 2018. The graph indicates the
increase in the production of just in these areas. If the number of vehicles is constantly
increasing, obviously, the need for these vehicles to be attached with winter tires, during the
winter season, and for a single heavy trucks minimum of 5 tires are used and for trailers and
larger vehicles, tire number also increases

37
3.5 Company Profiles

A] Bridgestone Corp.

3-1-1 Kyobashi
Chuo-ku
Tokyo,
Japan
Website: www.bridgestone.co.jp

Bridgestone Corp. is a Japan-based company, incorporated in the year 1931, and is based in
Tokyo, Japan. The company is into the manufacture, distribution, and sales of rubber products
and tires globally. The firm is into the manufacture of both tubes and tires for various vehicles
such as trucks, buses, passenger cars, mining vehicles, agricultural machines, aircraft and so
on. The company had around 180 units which are spread around in 24 countries. The firm
supplies its products mainly in seven categories. They are passenger tiers, motorcycle towers,
commercial tires, specialty tires, diversified products, and also into solution business.

650
Net sales of tires and diversified products
600

550

500

450
2017 2016 2015 2014 2013

The firm offers its tire products in six types. They are Potenza, drive guard, turanza, ecopia,
dueler, and blizzak. These product types are particularly meant as for the various performance
features such as fuel efficiency, off-road traction, winter traction and so on. The company is
into the production of winter tires in the name of blizzak series. These blizzak series are
specifically manufactured for winter traction. There is a varied range of products which
includes blizzak series WS80, DM-V1, DM-V2, and so on. The company had acquisition with
purebeta in 2018, which was meant as a strategy to improvise their product portfolio.

38
 Composition of sales (Globally)-2017

16% japan
19%

America

17%
Europe, Russia,
Middle-East, Africa
China, RPAC
48%

From the composition of sales, it is very evident that the American region is having the
dominating sales of 48%, followed by Japan with 19%. The firm is having its sales mainly in
the US, Japan, Europe, Russia, Middle-East, Africa, China, and rest of the Asia Pacific.

39
B] Goodyear Tire & Rubber Company.

200 Innovation Way

Akron, OH 44316
United States
Phone: +1-330-796-2121
Website: www.goodyear.com

The Goodyear Tire and Rubber Company is an American based company established in 1898
and is also headquartered at Akron, Ohio. The firm is into the production of tires and related
products globally. The firm is providing the service globally, through developers, subsidiaries,
manufacturers. The firm is producing tires in various sectors such as passenger tires, RV/4WD
tires, light trucks, trucks, and so on. Addition to good year branded tires, the firm also produces
various brands such as Dunlop, Fulda, Sava, and so on. The firm is having production in 47
facilities, which are distributed over 21 countries.

GoodYear Net sales in $s

18,500
18,000
17,500
17,000
16,500
16,000
15,500
15,000
14,500
14,000
13,500
2018 2017 2016 2015 2014

The company had its products produced in five types. They are aviation tires, off the road tires,
RV tires, racing tires, commercial truck tires. The firm sells its products globally through a
network of regional distributors, independent dealers, retailers, and retail outlets. The firm has
its major shares of business mainly in four regions. They are the Asia Pacific, the Middle East,
and African area, European areas, and American regions. The company is into the manufacture
and sales of winter tires also. They are having their premium winter tire categories, which
includes Goodyear ultra-grip, Goodyear eagle, Goodyear wrangler series, and
40
so on. On Jan 2019, the firm expanded the fortitude height size of wrangler series, in response
to the increased demand for cargo vans, employed to deliver packages.

41
C] Yokohama Rubber Co., Ltd.

36-11, Shimbashi 5-chome

Minato-ku
Tokyo, 105-8685
Japan
Phone: +49-405-6081 0
Website: www.y-yokohama.com

The Yokohama Rubber Co. Ltd. is a Japan-based company, incorporated in 1917, and is
headquartered at Tokyo, Japan. The firm is into developing, manufacturing, and selling of tires,
golf products, and industrial products. The company is having business expanded globally,
which includes, Japan, the US, India, China, the Philippines, and internationally. The firm is
having business relations with more than 120 countries and is having a task force of around
30,000 employees. The firm is into the production of various types of tires, such as passenger
car tires, light truck tires, truck and bus tires, off-highway tires, seasonal tires, and also for
motorsports.

Net sales of Yokohama Rubber Co., Ltd. (in ¥

billions)
900
800
700
600
500
400
300
200
100
0
2005 2008 2011 2014 2017 2018

Apart from tires, the firm is also into the manufacturing of hoses and couplings, industrial
products, hematite and electronic materials, and aerospace products. Additionally, the firm
deals with tire tubes, aluminum alloy wheels, and other rubber related peripheral products.

42
The company's main operations deal with two segments, that is tires, MB (multiple businesses),
and ATG (alliance tire group). The MB deals with pneumatic marine fenders, conveyor belts,
marine hoses, high-pressure hoses, and anti-seismic products, and roadway joints.

The firm sells its products under the names of, ADVAN, BluEarth, Geolandar, iceguard, and
Yokohama. In this portfolio, Iceguard and geolandar are specifically manufactured winter tires,
for winter traction facilities. The particular products such as iceguard iG52c, iceguard IG51v.
The firm had recently entered into a partnership with Chelsea football club. This will increase
the reach of the company and is considered as one of the important marketing strategies so as
to increase the business perspective.

43
D] Continental Aktiengesellschaft

Vahrenwalder Strasse 9
Hanover, 30165
Germany
Phone: + 49-511-938-01
Website: www.continental-corporation.com

The Continental Aktiengesellschaft is a German-based company, incorporated in 1871, and is

headquartered in Hanover, Germany. The company's main operation lines pass through
powertrain, interiors, tires, Conti-tech segments, and chassis and safety equipment. The power
train segment offers fuel and exhaust management systems, sensors and actuators, engine
systems, transmission products, and hybrid electric vehicles. The Interior segment deals with
the development and production of network solutions and services, information, and
communication for commercial vehicles, such as commercial vehicles and aftermarket, body
and security, instrumentation and driver HMI systems, and infotainment and connectivity.

The chassis and safety segment deals with the develo9pment, production, and sales of, market
intelligent systems equipped to enhance the safety issues. This product includes hydraulic
brakes, vehicle dynamic products, sensoric and passive safety products, and so on. The
ContiTech segment deals with the production and sales of intelligent components and systems
made of metal, plastic, rubber, and fabric, which are employed in various sectors such as
automotive, mining, agriculture, machine, and plant engineering, and other industries.

The tires segment provides with passenger tires, light truck equipment, two wheel tires, and
commercial vehicle tires for employing in vehicle manufacturing. The firm is producing winter
tires, which goes under the names of VanContract winter, ContiCrossContact Winter, Vanco
fourseason, and so on. The firm had made a Merger with Reifen John Gmbh & Co Kg on Dec
2018, and with Kathrein Automotive GmbH on Oct 2018. These mergers were aimed at
expanding the product portfolio and the reach of the company.

44
 Total sales in € millions
30000
25000
20000
15000
10000
5000
0
2015 2016 2017 2018

The company had been going on a progressive scale, due to the constant increase in the
automobiles produced globally. As there is a steady increase in vehicle production, naturally
the demand for tires will increase, which is boosting the growth of the firm.

45
E] Pirelli & C. S.p.A.

Viale Piero e Alberto

Pirelli n. 25
Milan, MI 20126
Italy
Phone: + 39-026-4421
Website: www.pirelli.com

Pirelli & C. S.P.A is an Italian based company, established in 1872, and is headquartered in
Milan, Italy. The firm is mainly in the production and supply of tires for two wheelers and four
wheelers globally. The firm provides its products through four categories, i.e. premium,
specialty, super specialty, and prestige tires. The firm is providing its automotive products
under the names of Ice Zero, winter, Cinturato, Scorpion, and P Zero. It offers their motorcycle
products under the names of Metzeler and Pirelli names, and racing tires under the names of P
zero Velo name, also they provide urban tires under the name of Cycle name, Cinturato Velo,
and Scorpion MTB.

The firm also provides with specialties such as, run flat and seal inside technologies, which
enables the vehicles to continue running even at the cases of puncture, Pirelli noise canceling
system in order to reduce the tire rolling noises, and so on. In addition, the company also
provides ancillary services for motorcycles and cars.

The firm is also actively conducting various racing events and camps, which are meant to be
as a marketing strategy, in order to raise the reach and increase their brand name. Recently, the
firm had conducted the Barcelona in-season test. The company had recent merger and
acquisition with Jining Shenzhou Tire Co., Ltd. in 2018. The firm provides with winter tire
under the categories of ice zero, Scorpion and so on.

46
 Composition of Pirelli products
globally
4%3%
13%
43%
17%

20%

Europe NAFTA
Asia\Pacific (APAC) South America
Middle East\Africa\India (MEAI) Russia and CIS

The company has its sales distributed globally. The main regions in which their sales are
bifurcated are Europe, Asia Pacific region, South America, Middle-east, Africa, India, Russia
and so on. The firm also had trade relations with NAFTA (North American Free Trade
Agreement). This contract is signed by Mexico, Canada, and the US.

47
4.TARGETS/TASKS

Tasks assigned by the company guide Mr. Muhhamed Javed Sheikh

The jobs assigned to us used to differ as to the report demands. The targets are assigned on a
daily basis and we need to complete our assigned jobs within the EOD (end of the day).
Various targets assigned are:

• Preparation of TOC (Table of contents)

• Preparation of CPs (company profiles)
• Preparation of PR (Press Release)
• Preparation of Sample
• Report on title winter tier which is a compiled form of TOC, CP, etc.

Week 1 Learning about the company and its profile

Week 2 Understanding the mainstream activities of the firm

Week 3 Active involvement in full-fledged activities of the firm

Week 4 Studying the market for possible drivers and restrains

Week 5 Basic content related to report are found out, and a brief analysis is
done on to know what needed to be added or what needed to be omitted
(referred sample research papers related to market)

Week 6 Had a detail analysis on the segmentation of the allotted market and
confirmed the segmentation through the individual tutor assigned

Week 7 A detail study and research on the drivers, restrains and opportunities,
driving the market. The DRO found out are cross checked with tutors
for confirmation

Week 8 The data related to the market is analysed regionally, so as to check,

which and all countries are having larger production

48
Week 9 A detail comparative study of the important key players present in the
market and their net-sales and composition, globally

Week 10 Various statistical data are collected from the original sites and are
quality checked for checking authenticity

Week 11 Detailed research done on overall market research industry and

valuable suggestions from all sources are recorded and acted upon
simultaneously

Week 12 Summarising the finding and recommendations

Week 13 Combining the research done all together for arriving at market values
and research

Week 14 Strengthening the report with other relevant findings related to allotted
market

49
5. ACHIEVEMENTS

WEEK NO TARGET/TASK ASSIGNED TASKS ACHIEVED

1-2 Assigned duties of 6 TOC, 6 RD, and Completed and forwarded the assigned
4 CP on various titles according to tasks for further QC tests
client requirement. (Portable printer,
Gene synthesis, etc.)

3-4 Assigned duties of CP on various titles Completed and forwarded the assigned
according to client requirement. (Glass tasks for further QC tests
block technology, oncolytic viruses)

5-6 Assigned duties of PR on various titles Completed and forwarded the assigned
according to company’s requirement. tasks for further QC tests

(wind energy, glass block technology,

packaged AC market)

7-8 Assigned duties of segmentation on Completed and forwarded the assigned

various titles according to client tasks for further QC tests
requirement.

(protective glove market, colour

coated steel, hydroponics, organ on
chip)

9-10 Changed the department from • Generated contacts of potential

Research to Sales team
Assigned duties generating contacts of
potential clients globally, Pitching the
potential clients for sales, having
clients
• Had detail conversation with
clients (Global)
• Prepared various strategies to

conversations with clients globally, improve sales

and preparing various approaches one

could use to increase sales.

50
 11-12 Assigned duties generating contacts of
potential clients globally, Pitching the
potential clients for sales, having
conversations with clients globally,
and preparing various approaches one
could use to increase sales.
• Generated contacts of potential
clients
• Had detail conversation with
clients (Global)
• Prepared various strategies to
improve sales

13-14 Assigned duties generating contacts of • Generated contacts of potential

potential clients globally, Pitching the clients
potential clients for sales, having • Had detail conversation with
conversations with clients globally, clients (Global)
and preparing various approaches one • Prepared various strategies to
could use to increase sales. improve sales

First Live Project: After one week of training, our team was assigned with the first live
project.
The topic was “Global Packaged AC Market.” The task assigned was that of preparing
company profiles (CPs) of the global key players.
Second Live Project: We had our second live project in our hand as soon as our first task
was accomplished and quality checked. The second title was the “Global Single Use
Technology Market”, and individual task was to prepare company profiles for different
companies present globally.
Third Live Project: In this project, the work assigned was that of the preparation of the
company profiles in the Global Kiosk Market. All the segmentation were done as per the
client’s additional requirements.
Receiving positive indications from clients: When we were pitching the potential clients for
sales, it is very difficult even to get a reply back. But we managed to get many queries back
and had handled that queries well
Pitching clients through telephonic conversation: The clients showed interest and were
even ready to connect with the research team so as to know the details of our firm in depth.

51
6. CONCLUSION

From the various drivers regarding the market, it is shown that the need for the winter tier is
going to increase in the coming days. As there is a rapid increase in the regulations too the
market growth will be clearly visible and the safety issues of not having winter tier are also
going to impel the market further.

Snow tires are those specific tires designed for the smooth and safe riding in ice and snow.
Unlike the summer tiers or normal tiers, these tires are having a larger tread design and larger
gaps compared to the traditional ones. These larger gaps and tread design is specifically
employed for an easier traction in ice and snow. These tires are also designed for specific winter
conditions, such as these tires are custom made for driving in temperatures below 7°C (45 °F).
Snow tires also come with two varieties, studded ones and stud fewer tires. In studded tires,
metal or ceramic studs will be protruded from the tire, which is used for the increased traction
in snow. Apart from just snow and ice winter tier could be operated in various surfaces, which
includes wet pavements, muddy areas, dry pavements and so on. The market is segmented
according to the vehicle type, and by the tire type.

The major factors boosting, the growth of the winter tire market is the growth in the automobile
industry. Rising growth in the automobile industry particularly in countries with cold climates,
a growing number of automobiles for both personal and commercial uses, growth of Winter
Tires hand in hand with vehicle production are the key driving factors for the market growth.
Winter tires are a niche market and are restricted to cold regions, thus acting as a restraining
factor for the expansion of the market. Additionally, there are few combined industry specific
and macro-economic factors, which is influencing the growth of the market. Even government
regulations are making it mandatory for the use of winter tires, in many6 areas.

The major market placers regarding the winter tire market are Michelin, The Goodyear Tire &
Rubber, Continental Aktiengesellschaft, Pirelli, Sumitomo Rubber, Toyo Tire & Rubber,
Hankook Tire, Cooper Tire & Rubber, Triangle Tyre, Nokian Tyres, Cheng Shin Rubber,
Kumho Tire, N.V. Apollo Vredestein BeLux, Giti Tire, Bridgestone, Hangzhou Zhongce
Rubber, The Yokohama Rubber, Nizhnekamskshina Joint Stock, Nankang Rubber Tire, Nexen
Tire. All these companies are challenging with each other in terms of sales, demands, reliable
product development, revenue generation, and also post-sale process at a global level.

52
7. MANAGEMENT LEARNING

• Team Work- I got the opportunity to work with different teams on a specific project,
everyone on the team assigned different parts to complete to create final reports.
Working with a brilliant and experienced team helped me to enhance professional skills
as well as technical skills. The internship made me realize the strength of teamwork and
promote a wide sense of ownership.
• Work Load Management- During this internship, too much work has been given by our
mentors which made me think strategically that how to deal with the situation rather
than simply do harder or faster. It also helps me to realize my potential and how much
I can get done in a given time.
• Time Management- I had to be at the office by 9:45 and used to leave a bit late in the
evening. Also, the deadlines given by mentors made me learn how to reach deadlines
by managing time. I have managed to complete the allotted task on given time by doing
the most important task first, stick to the schedule and eliminating distractions and
immerse you in work.
• Self-Motivation- The self-motivation comes when we can find the change within our
self, despite the fact there was tremendous work pressure on me, I coped up with the
situation. The reason behind the same was the gradual change that I witnessed within
myself since the time I joined the organization.
• No one is born well organized or focused; these are skills we can learn, skills that can
be developed over time.
• Improved command over professional communication.
• Chance to polish the existing skills and learned new skills
• How being punctual and prompt could help one to reach for a successful professional
career.
• The importance of networking
• Learned how to channel appreciations and criticism in the right way

53
 • The importance of working hard and how hard work could bring appreciation
• The self-realization of the talents which remain in a dormant condition
• Importance of being a team player and supporting teammates to achieve cooperate goals
in a more efficient way.

Learning from Orion Market research:

➢ Learned about the various aspects one need to think regarding making of an
domestic report.
➢ The company had taught a lot about team work, and how proper team work is
increasing the efficiency of the team as a whole.
➢ Various techniques to check out the authenticity of the data obtained from the net.
➢ Learned to make reports in perspective of a neutral third person.
➢ Realised that, the clients out there are having less amount of time, so mostly short
and crisp reports are preferred more.

Learning from Sales Department:

➢ How different clients could be approached

➢ Being adaptive and creative is the basics of sales. One need to be adaptive according
to match with the needs of clients
➢ Being proactive and relaxed is another tip, which one could use to boost self-
confidence.
➢ It's always better to talk, rather than chatting, as conversation could be more
convincible than traditional writing.

8. Recommendation

According to the analysis and findings, there are some recommendation for the
organization based on the study-
1. The marketing team of the company should adopt new marketing tools and
techniques for marketing and promoting reports.

2. The company can conduct primary research on key players or the companies
mentioned in their reports to get accurate and reliable data from them.

54
 3. The company should implement and use some marketing research statistical tools
Like SPSS.

Organization need security tools for securing and encrypted the information to protect it
from unauthorized access.

9. LIMITATIONS

• Since no tools are employed for estimation, the chances of getting accurate or precise
reading is difficult.
• Studded winter tires are facing more environmental issues, and are banned in few areas,
such as Albama, Florida, Hawali, Michigan, and so on.
• Winter tire market is not beneficial if considered globally, as it is winter related, the
market tends to have growth only in winter countries.
• Not availing for primary research methods, or depended entirely on secondary market
research methods while preparing reports.
• During the market research, the tools such as R, SPSS, and Tableau are beneficial,
however, these tools sometimes do not determine the market value precisely. For
precision market research, sometimes manual method for market estimation can be
helpful. The manual method allows the analyst to consider various macroeconomic
factors during market estimation.
• While going for secondary research, one should be conscious about filtering relevant
and authenticated data from a vast internet source.
• If authenticity is compromised, the competitors may de-market the reports in Google
search engine.

55
10. REFERENCES:

1 A Topp, N Kendziorra, B Wies, and H Lange. Braking force transfer capabilities of

tires on wet roads. In 17th EVU Annual Congress Proceedings, pages 205–214,2008.

2. Martin Gießler, Frank Gauterin, K Wiese, and B Wies. Influence of friction heat on
tire traction on ice and snow. Tire Science and Technology, 38(1):4–23, 2010.

3. Ken-ichi Shimizu, Mitsuya Nihei, and Fran¸cois Dor´emieux. Effect of the texture of
iced road surface on characteristics of ice and snow tires. Technical report, SAE
Technical Paper 920018, 1992.

4. World Health Organization, Global status report on road safety:

time for action, 2009. World Health Organization.

5. D.Jankowska, M. Mikušová, J. Wachowski-Ślęzak, Mobility Issues

in Selected Regions of Poland and Slovakia – Outcomes of International Project SOL
(Save Our Lives) Survey, 2015
Periodica Polytechnica Transportation Engineering, Vol. 43, No. 2,
pp. 67-72.

6. D. Vankov, Status, Trends, and Problems of the Road Safety Field

in Bulgaria, 2015. Periodica Polytechnica Transportation Engineering, Vol. 43, No. 1,
pp. 9-14.

56
 Appendix B

List of Figures

Fig. No. Description Page No.

2.1 Evolution of Market Research Industry 6

3.1 Organization Hierarchy: Orion Market Research 14

3.2 SWOT Analysis: Orion Market Research 14

4.1 STP Strategy at Orion Market Research 23

6.1 SWOT Analysis for Renewable Energy Market 32

6.2 Porter’s Five Forces Model of Renewable Energy market 32

6.4 Market Segmentation of Renewable Energy Market 38

9.1 Management Learnings at Orion Market Research 43

57
 Appendix C

List of Graphs

Table No. Description Page No.

2.1 Secondary Data Sources 9

2.2 Primary Data Sources 9

3.1 Comparative Analysis of Companies 20

6.1 Bird Eye View of Entire Project 39

58