Brazil Tire Market, By Demand Category (OEM, Replacement), By Vehicle Type (Passenger Car, LCV, M&HCV, Two-Wheeler, OTR), By Construction Type (Radial and Bias), By Sales Channel (Offline and Online), By Region, Competition Forecast & Opportunities, 2026
Brazil tire market is expected to grow from USD5.92 billion in 2020 to USD8.63 billion by 2026, growing at a CAGR of 6.29% in the next five years. Anticipated growth in the market can be attributed to an increase in the fleet size of vehicles which is boosting the after-market demand for tires in Brazil. The rise in per capita income has led to an increase in the purchasing power and growth in the living standard of Brazil’s population. This results in the growth of vehicle sales and expansion of fleet size, leading to growth in the replacement demand for tires in Brazil. The rise in demand for two-wheelers in Brazil is also boosting two-wheeler production, especially motorcycles, which augments the demand for two-wheeler tires as well. With an increasing number of people opting for personal mode of transportation for commuting, sales of two-wheelers will continue to grow in the coming years, thereby driving the OEM demand for two-wheeler tires in Brazil over the next five years. However, due to the imposed lockdown, following the COVID-19 outbreak, which resulted in economic instability in 2020, the sales of automobiles in the country dropped significantly. However, after the long and hugely negative effect of the COVID-19 lockdown, the tire market has again gained some pace in Brazil. After a big drop in production and sales in previous months, the production of vehicles has resumed now with sales also picking the pace, which is going to generate demand for tires in the OEM segment. Brazil tire market can be segmented based on-demand category, by vehicle type, by construction type, by sales channel, and by region.On the basis of demand category, replacement tires dominate the overall Brazil tire market with more than 4/5th of total market share.
Owing to increasing fleet size of the vehicle, it is expected that the trend is continuing to be the same in the near future as well.On the basis of vehicle type, passenger car tires are leading the Brazil tire market with more than half of the total market followed by LCV, M&HCV, Two-Wheeler, and OTR.
In the forecast period also, it is expected that passenger car tires will be in high demand than any other, but demand for two-wheeler tires will increase at a higher CAGR in comparison to other vehicle types.On the basis of construction type, radial tires are dominating in Brazil tire market over bias tires with almost 3/4th of the total share.
This is mainly due to high consumption in passenger cars and because of increasing fleet of passenger cars it is expected that it will dominate the market in future as well. Major players operating in Brazil tire market are Pirelli Pneus SA, Michelin Pneus, Bridgestone Americas Tire Operations, LLC, The Goodyear Tire & Rubber Company, Continental AG, Rinaldi Tires, Maggion Industrias de Pneus e Maquinas Ltda., Maxxis International, Kenda Rubber Industrial Company, LTD., and Technic Tires. Key players are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new product developments. Players operating in the market are improving R&D capabilities while enhancing operational efficiency to register positive growth.
• To analyze the historical growth in the market size of Brazil Tire Market from 2016 to 2020. • To estimate and forecast the market size of Brazil Tire Market from 2021 to 2026 and growth rate until 2026. • To identify the dominant region or segment in the Brazil Tire Market. • To identify drivers and challenges for Brazil Tire Market. • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Brazil Tire Market. • To conduct pricing analysis for Brazil Tire Market. • To identify and analyze the profile of leading players operating in Brazil Tire Market. The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across Brazil.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the service offerings, distribution channels and presence of all major manufacturers across Brazil. The analyst calculated the market size of Brazil Tire Market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Original equipment manufacturers, suppliers and other stakeholders • Research organizations and consulting companies • Government bodies such as regulating authorities and policy makers • Organizations, forums and alliances related to Brazil Tire Market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Brazil Tire Market has been segmented into following categories, in addition to the industry trends which have also been detailed below: • Brazil Tire Market, By Demand Category: o OEM o Replacement • Brazil Tire Market, By Vehicle Type: o Passenger car o LCV o M&HCV o Two-Wheeler o OTR • Brazil Tire Market, By Construction Type: o Radial o Bias • Brazil Tire Market, By Sales Channel: o Offline o Online • Brazil Tire Market, By Region: o South East o South o North East o Mid-West o North
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
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120 pages •
By Infiniti Research Limited
• Nov 2021
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