Brazil Automotive Tire Market Set to Expand at a Staggering 4.5% CAGR, Reaching $2.05 billion by 2027

Based on the distribution channel, the online sales channel is expected to register a significant growth rate during the forecast period.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, July 31, 2024 /EINPresswire.com/ -- Surge in automotive production & sales across several segments, rise in competition among tire producers, and emergence of advanced technology in the manufacturing activities drive the demand for 𝐁𝐫𝐚𝐳𝐢𝐥 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭. Increase in automotive production & sales across several verticals, surge in competition among tire manufacturers, and advent of advanced technology in the manufacturing process have boosted the demand for Brazil automotive tire market. However, fluctuating prices of raw materials and emergence of the retreading tires market hamper the market growth. On the contrary, advancements in technology to address concerns related to fuel efficiency and safety would open new opportunities in the future.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A07485

The Brazil automotive tire market is segmented on the basis of season type, rim size, vehicle type, and distribution channel. Based on season type, the market is categorized into summer, winter and all-season. On the basis of rim size, the market is classified into less than 15-inch, 15-20 inch and more than 20 inches. The 15 to 20-inch segment is projected to portray the highest CAGR of 6.3% during the forecast period. However, the more than 20 inches segment held the largest share in 2019, contributing to nearly half of the market.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐍𝐎𝐊𝐈𝐀𝐍 𝐓𝐘𝐑𝐄𝐒 𝐏𝐋𝐂., 𝐌𝐈𝐂𝐇𝐄𝐋𝐈𝐍, 𝐏𝐈𝐑𝐄𝐋𝐋𝐈 & 𝐂. 𝐒.𝐏.𝐀, 𝐒𝐔𝐌𝐈𝐓𝐎𝐌𝐎 𝐑𝐔𝐁𝐁𝐄𝐑 𝐈𝐍𝐃𝐔𝐒𝐓𝐑𝐈𝐄𝐒 𝐋𝐓𝐃., 𝐂𝐎𝐍𝐓𝐈𝐍𝐄𝐍𝐓𝐀𝐋 𝐀𝐆, 𝐓𝐎𝐘𝐎 𝐓𝐈𝐑𝐄 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐁𝐑𝐈𝐃𝐆𝐄𝐒𝐓𝐎𝐍𝐄 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐇𝐀𝐍𝐊𝐎𝐎𝐊 𝐓𝐈𝐑𝐄 & 𝐓𝐄𝐂𝐇𝐍𝐎𝐋𝐎𝐆𝐘 𝐂𝐎., 𝐋𝐓𝐃., 𝐓𝐇𝐄 𝐘𝐎𝐊𝐎𝐇𝐀𝐌𝐀 𝐑𝐔𝐁𝐁𝐄𝐑 𝐂𝐎., 𝐋𝐓𝐃., 𝐓𝐇𝐄 𝐆𝐎𝐎𝐃𝐘𝐄𝐀𝐑 𝐓𝐈𝐑𝐄 & 𝐑𝐔𝐁𝐁𝐄𝐑 𝐂𝐎𝐌𝐏𝐀𝐍𝐘

The Brazil automotive tire market size has been categorized based on different seasons, size of rim, vehicle type and distribution channel. The all-season tires is the leading segment in the Brazil automotive tire market due to their wider application. Based on the size of rim, more than 20 inches vehicle rim have a greater market share. Meanwhile the passenger car segment is leading in Brazil due to the increased sale of cars and the aftermarket distribution channel holds a major market share in the Brazil automotive tire market due to the increased sales through aftermarket.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/a9ee76c32300ce5dfffb2f5cc2c7c740

The Brazil automotive tire market share is driven by increase in automotive production & sales across different vehicles segment and rise in competition among tire manufacturers. In addition, introduction of advanced technology in the manufacturing process is anticipated to propel the growth of the automotive tire market.

On the basis of distribution channel, the market is categorized into original equipment manufacturers (OEMs), aftermarket, and online sales. The aftermarket segment held the lion’s share in 2019, accounting for more than half of the market. However, the online sales segment is projected to register the highest CAGR of 6.7% during the forecast period.

However, factors such as volatile prices of raw materials and developments in the market of retreading tires are expected to hamper the growth of the market. Further, advancement in technology and fuel efficiency & safety concerns coupled with the government support is expected to create numerous opportunities for the growth and expansion of the market.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A07485

Tires are a ring shaped component which surrounds the wheel rim and is used to transfer the load of the vehicle to the ground thereby reducing the load on the axle of the vehicle. Tires used in a vehicle offer traction to the surface of the road thus allowing the vehicle to move forward. Also tires used in an automobile provides flexible cushion due to its pneumatically inflated structure which absorbs shock as the tire rolls over the surface. The advancement in technology followed by the introduction of different tire material has supplemented the growth of tie industry.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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David Correa
Allied Market Research
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