Market by Tire Type, Rim Size, Distribution Channel, and Country Outlook | Forecast 2022-2028
Triton Market Research’s report suggests that the tire aftermarket, tire replacement market in Latin America is set to register a compound annual growth rate of 3.78% during the forecasted period 2022-2028.
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The
countries studied in the given region are:
•
Brazil
•
Mexico
•
Rest of Latin America
Brazil
captures the highest number of shares in Latin America. The growing housing projects are among the
major factors driving the demand for tires. Besides, the increasing safety
regulations across industries have elevated the need for efficient tire
replacement services. Therefore, these factors are widening the scope and
growth of the tire aftermarket, tire replacement market across the region.
Given the high demand for SUVs and crossovers,
Brazil has witnessed a rise in the sale of luxury cars. This has led luxury car
manufacturers, such as JLR, to invest heavily in the nation’s automotive
sector. Along with this, automakers like BMW, Mercedes-Benz, Audi, and Fiat
have established manufacturing hubs nationwide. This has ultimately made the
nation a destination for tire aftermarket due to massive vehicular production.
On the other hand, the proximity to the US and
low-cost labor has led various US-based companies to invest in the Mexican automotive
industry. In recent years, luxury vehicle demand has soared in the nation owing
to benefits such as advanced driver assistance. Thus, these factors are
expected to create numerous opportunities for the tire aftermarket, tire
replacement market.
The rising demand for passenger and commercial
vehicles has increased the demand for bias tire types. Besides, this tire is
widely deployed in agriculture and mining vehicles. Automakers widely prefer
bias tires owing to benefits such as operator comfort and the ability to
withstand heavier loads. The market is
segmented into tire type, distribution channel, and rim size. The tire type
includes bias and radial tires.
Some
of the key companies listed in the market report include MRF, CEAT Limited,
Toyo Tires, The Yokohama Rubber Co Ltd, and Nexen Tire Corporation.
Toyo Tires is engaged in manufacturing and
marketing waterproofing materials, automotive tires, components, and thermal
insulation. Its product line also includes engine mounts, seat cushions, car
barrier stoppers, lane dividers, rubber hoses, etc. The company markets
products under two brands, Toyo Tires and Nitto, through marketing channels and
distributors. Toyo Tires operates across multiple regions, including Latin
America.
Key deliverables of the report:
● Market CAGR during the forecasting years 2022-2028
● Detailed data highlighting key insights, industry components, and market strategies
● Comprehensive information and estimation of the tire aftermarket, tire replacement market revenue growth in Latin America and its influence on the parent market
● In-depth study of forthcoming trends in consumer behavioral patterns
● A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces
●
A wide-ranging study of factors that will challenge the LA tire
aftermarket, tire replacement market’s growth during the upcoming years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. LATIN
AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. KEY
INSIGHTS
2.1.1. GROWING
INCLINATION TOWARD THE DEVELOPMENT OF AIRLESS TIRES
2.1.2. TIRE
CUSTOMIZATION AND PERSONALIZATION ACCELERATE MARKET EXPANSION
2.2. IMPACT
OF COVID-19 ON THE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS INDEX
2.5. VENDOR
SCORECARD
2.6. KEY
MARKET STRATEGIES
2.6.1. MERGERS
& ACQUISITIONS
2.6.2. PRODUCT
LAUNCHES & DEVELOPMENTS
2.6.3. PARTNERSHIPS
2.6.4. BUSINESS
EXPANSIONS & DIVESTITURES
2.7. MARKET
DRIVERS
2.7.1. SPIKE
IN DEMAND FOR FUEL-EFFICIENT TIRES
2.7.2. MANDATORY
TIRE LABELING NORMS
2.8. MARKET
CHALLENGE
2.8.1. UNCERTAINTY
IN THE PRICING OF AUTOMOTIVE RAW MATERIALS
2.9. MARKET
OPPORTUNITY
2.9.1. ELECTRIC
VEHICLE TIRE REPLACEMENT IS A LUCRATIVE SEGMENT
3. LATIN
AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET - BY TIRE TYPE
3.1. RADIAL
TIRE
3.2. BIAS
TIRE
4. LATIN
AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET - BY RIM SIZE
4.1. 13- 15
INCHES
4.2. 16 -18
INCHES
4.3. 19-21
INCHES
4.4. MORE
THAN 21 INCHES
5. LATIN
AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET - BY DISTRIBUTION CHANNEL
5.1. ORIGINAL
EQUIPMENT SUPPLIER (OES)
5.2. INDEPENDENT
AFTERMARKET (IAM)
6. LATIN
AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET – COUNTRY OUTLOOK
6.1. BRAZIL
6.2. MEXICO
6.3. REST
OF LATIN AMERICA
7. COMPETITIVE
LANDSCAPE
7.2. BRIDGESTONE
CORPORATION
7.3. CONTINENTAL
AG
7.4. GOODYEAR
TIRES
7.5. PIRELLI
& C SPA
7.6. SUMITOMO
RUBBER INDUSTRIES LTD
7.7. TOYO
TIRES
7.8. THE
YOKOHAMA RUBBER CO LTD
7.9. APOLLO
TYRES
7.10. MRF
7.11. CEAT
LIMITED
7.12. NEXEN
TIRE CORPORATION
7.13. HANKOOK
TIRE & TECHNOLOGY CO LTD
7.14. JK
TYRE
7.15. MAXXIS
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
BILLION)
TABLE 2: VENDOR SCORECARD
TABLE 3: LISTS THE MERGERS
& ACQUISITIONS
TABLE 4: LIST OF PRODUCT
LAUNCHES & DEVELOPMENTS
TABLE 5: LIST OF PARTNERSHIPS
TABLE 6: LIST OF BUSINESS
EXPANSIONS & DIVESTITURES
TABLE 7: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
BILLION)
TABLE 8: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, 2022-2028 (IN $ BILLION)
TABLE 9: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, 2022-2028 (IN $ BILLION)
TABLE 10: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, 2022-2028 (IN $
BILLION)
FIGURE 1: MARKET
ATTRACTIVENESS INDEX
FIGURE 2: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, 2021 & 2028 (IN %)
FIGURE 3: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RADIAL TIRE, 2022-2028 (IN $ BILLION)
FIGURE 4: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY BIAS TIRE, 2022-2028 (IN $ BILLION)
FIGURE 5: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, 2021 & 2028 (IN %)
FIGURE 6: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY 13- 15 INCHES, 2022-2028 (IN $
BILLION)
FIGURE 7: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY 16 -18 INCHES, 2022-2028 (IN $
BILLION)
FIGURE 8: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY 19 -21 INCHES, 2022-2028 (IN $
BILLION)
FIGURE 9: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, MORE THAN 21 INCHES, 2022-2028 (IN $
BILLION)
FIGURE 10: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, 2021 & 2028
(IN %)
FIGURE 11: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY ORIGINAL EQUIPMENT SUPPLIER (OES),
2022-2028 (IN $ BILLION)
FIGURE 12: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY INDEPENDENT AFTERMARKET (IAM),
2022-2028 (IN $ BILLION)
FIGURE 13: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY OUTLOOK, 2021 & 2028 (IN
%)
FIGURE 14: BRAZIL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 15: MEXICO TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 16: REST OF LATIN
AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)