How Big is the Brazil Tire Market?
The Brazil Tire Market size is estimated to grow at a CAGR of around 2.5% during the forecast period, i.e., 2024-30. The surge in the Brazil Tire Market is propelled by an ameliorating economic landscape, evolving living standards, advancing road infrastructure, and a growing preference for private vehicle ownership, leading to an expansion of the national vehicle fleet. Simultaneously, the government is actively prioritizing infrastructure development, spurring numerous construction initiatives in residential, commercial, and industrial sectors. This surge in construction projects is boosting the manufacturing of various commercial vehicles, consequently increasing the demand for durable tires to ensure optimal operational efficiency.
Market Statistics
- Market Growth Rate (CAGR): 2.5% from 2024-2030
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Brazil Tire Market Insight:
Driver-
Rising Investments Leading to Robust Vehicle Manufacturing Operations – The Brazil Tire Market has experienced significant growth driven by rising investments and robust vehicle manufacturing operations. Positioned as the 8th largest global vehicle producer, Brazil has become a focal point for the tire industry's expansion. The presence of major automotive industry leaders such as General Motors, Volkswagen, Fiat, Ford, and Renault highlights Brazil's crucial role in the international automotive manufacturing landscape.
Fueled by the expansion of the domestic automobile market, these key industry players are strategically allocating substantial resources to enhance their production capacities. Brazil is swiftly emerging as a primary hub for the production of light vehicles, attracting noteworthy investments that position the nation as a key influencer in the global automotive sector. This surge in manufacturing activities is expected to result in a substantial increase in tire demand, especially within the domain of Original Equipment Manufacturers (OEMs), which play a pivotal role in steering the overall growth trajectory of the tire market in Brazil.
Brazil Tire Market Segmentation:
The report has segmented the market into the following categories:
By Type of Vehicle
- Passenger Cars- Market Size Forecast 2019-2030F, Thousand Units
- Light Commercial Vehicles- Market Size Forecast 2019-2030F, Thousand Units
- Medium and Heavy Commercial Vehicles- Market Size Forecast 2019-2030F, Thousand Units
- Off the Road (OTR)- Market Size Forecast 2019-2030F, Thousand Units
- Two Wheelers- Market Size Forecast 2019-2030F, Thousand Units
By Demand Category
- OEM- Market Size Forecast 2019-2030F, Thousand Units
- Aftermarket- Market Size Forecast 2019-2030F, Thousand Units
The enduring dominance of aftermarket tires in the Brazil Tire Market is expected to persist, claiming the expanding cross-border trade within the country primarily underpins the largest market share and this supremacy. This facilitates broad and convenient access to tires, encompassing a wide array of brands, specifications, and price ranges, contributing significantly to the aftermarket's prominence. The growing awareness among vehicle owners regarding the critical importance of regular tire inspections for heightened safety and performance has instigated a heightened frequency of tire replacements, thereby fortifying aftermarket tire sales throughout Brazil.
By Type of Tire
- Radial- Market Size Forecast 2019-2030F, Thousand Units
- Bias- Market Size Forecast 2019-2030F, Thousand Units
By Sales Channel
- Multi Brand Outlets- Market Size Forecast 2019-2030, Thousand Units
- Online- Market Size Forecast 2019-2030, Thousand Units
- Direct Sales- Market Size Forecast 2019-2030, Thousand Units
- Exclusive Outlets- Market Size Forecast 2019-2030, Thousand Units
By Price Category
- Budget- Market Size Forecast 2019-2030F, Thousand Units
- Economy- Market Size Forecast 2019-2030F, Thousand Units
- Premium- Market Size Forecast 2019-2030F, Thousand Units
By Tire Size
- Tire Size 1 - Market Size Forecast 2019-2030, Thousand Units
- Tire Size 2 - Market Size Forecast 2019-2030, Thousand Units
- Tire Size 3- Market Size Forecast 2019-2030, Thousand Units
- Tire Size 4 - Market Size Forecast 2019-2030, Thousand Units
- Tire Size 5 - Market Size Forecast 2019-2030, Thousand Units
By Region
- Northeast
- South
- Southeast
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Competitive Landscape:
- Continental AG
- Bridgestone Americas Tire Operations, LLC
- Hankook Tire
- The Goodyear Tire Rubber Company
- The Yokohama Rubber Co., Ltd.
- Michelin
- Sumitomo Rubber Industries Ltd.
- Pirelli C. S.p.A
- Titan
- Toyo Tires
- Others.
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key Highlights of the Report:
- Market Performance (2024-2030)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
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