About Passenger Car Tire Market in Brazil With Brazil experiencing a multiyear drought in São Paulo state (São Paulo accounts for 40% of Brazil’s industrial production), a sluggish economy, and a major corruption scandal, investors have been pessimistic about the country’s economy. Furthermore, between 2013 and 2014, the net profits of small businesses in Brazil decreased due to high tax, high inflation, and interest rates, which led to high costs. The slowdown experienced by the economy has led to a fall in consumer confidence and GDP is expected to contract 1.08% in 2015 and grow by just about 1.1% in 2016.
The above factors had a huge impact on the automobile industry in Brazil. While the tire market in general has witnessed growth in the country, it was affected during the period of reduced economic activity, during 2013 and 2014, as total vehicle production and sales declined. On a broader level, passenger car registrations in Brazil dropped. In the near future, with relative stability in total automobiles in use and new automobile sales in the country, the tires market is expected to grow.
Technavio's analysts forecast the passenger car tire market in Brazil to grow at a CAGR of 3.06% over the period 2014-2019.
Covered in this Report This report covers the present scenario and the outlook of the passenger car tires market in Brazil for 2015–2019. The market forecast and analysis have been provided in terms of volume.
The market includes the following segments: - Replacement segment - OEM segment
The report also presents the vendor landscape and a corresponding detailed analysis of the prominent vendors in the market. In addition, the report includes the major drivers that are influencing the growth of the passenger car tires market in Brazil. It also outlines the challenges faced by the vendors and the market at large, as well as the key emerging trends.
Technavio's report, the Passenger Car Tire Market in Brazil 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the passenger car tire market in Brazil landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors.
Prominent Vendors - Alliance Tire Group - Apollo Tyres - Bridgestone Americas Tire Operations - Ceat - Continental Tire the Americas - Giti Tire (USA) - Goodyear Tire & Rubber - Hankook Tire - Maggion - Marangoni - Maxxis International - Michelin - Nexen Tire - Nitto Tire USA - Pirelli Tyre - Toyo Tire & Rubber - Yokohama Rubber
Market Driver - Steady Need for Replacement of Old and Damaged Tires - For a full, detailed list, view our report
Market Challenge - Slowing Brazilian Economy and its Impact on Automotive Industry - For a full, detailed list, view our report
Market Trend - Online Purchases of Tires - For a full, detailed list, view our report
Key Questions Answered in this Report - What will the market size be in 2019 and what will the growth rate be? - What are the key market trends? - What is driving this market? - What are the challenges to market growth? - Who are the key vendors in this market space? - What are the market opportunities and threats faced by the key vendors? - What are the strengths and weaknesses of the key vendors?
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