South America Tire (Tyre) Market Outlook, 2027

South America Tire (Tyre) Market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition Forecast & Opportunities.

Featured Companies

  • 1. Bridgestone
  • 2. Apollo Tyres
  • 3. Ceat Tyres
  • 4. Continental
  • 5. Giti Tire
  • 6. Goodyear Tyres
  • More...

Automotive tire is the circular vehicle component made of rubber used to cover the wheel’s rim externally. The major function of the tire is to protect the wheel rim and offer tractive force between the road surface and the vehicle. Since it is manufactured from rubber, it also provides a flexible cushion, thereby reducing the impact of the vibrations and absorbs the shock of the vehicle. Rubber tire consists of tread, jointless cap piles, beads, and other materials, which include synthetic rubber, carbon black, and fabric. The South American tyre market is a rapidly developing market. As the economies in the region are rapidly growing and infrastructure development is taking place throughout the region; the South American tyre market finds itself on a suitable pedestal to grow upon. As per the research conducted by Bonafide Research under the title “South America Tire Market Outlook, 2027”, the market is evaluated to be more than 140 Million units as of 2021 and is expected to grow at a CAGR of almost 5% in terms of volume during the period of 2022 to 2027. In order to assess and study the regional trends and patterns in the South American tyre market, the research has been approached by looking at the market through appropriate segments and classifications. The segments that were made during the comprehensive evaluation of the markets were on the basis of vehicle types, end use demand and the demand of tyres on the basis of their construction design. The vehicle types include vehicles such as passenger cars, light commercial vehicles, medium and heavy vehicles, 2 wheeler vehicles, 3 wheeler and other vehicles including bicycles. The categorization on the basis of end use demand includes demand for replacement tyres and OEM demand for tyres. On the basis of design types, the tyre market is segmented as radial tyres and bias ply tyres. In order to have a broader understanding of the landscape of tyre market in South America, further segmentation has been made on the basis of countries, and the sales channels through which the products are made available to the distributors and customers.

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Factors such as increase in automotive production & sales across different vehicles segment, rise in competition among tire manufacturers and introduction of advanced technology in the manufacturing process are driving the market growth. However, volatile prices of raw materials and development in the market of retreading tires hinder the market growth. Furthermore, advancement in technology and fuel efficiency and safety concerns is expected to offer lucrative opportunities for the market growth. Recently, the automobile industry has been experiencing rapid growth owing to speedy industrialization, which has led to an increase in the sale of commercial vehicles such as trucks, tractors, and trailers. In addition, rise in disposable income of people and improvements in standard of living are the factors that increase the sale of luxurious passenger cars and premium segment bikes. Furthermore, electric vehicle sales are expected to increase during the forecast period. Also, decrease in prices of electric vehicle parts such as battery, transmission, and alternators propel the sale of electric vehicles. Thus, increase in the demand for vehicles across all segments among consumers leads to a rise in the production of automobiles and tires associated with it. Moreover, consolidation of the automotive sector that results in mergers and acquisitions among international and domestic vehicles manufacturers boost the growth of the automotive sector influencing the automotive tire market. Therefore, growth of the automobile sector is expected to increase the overall demand for tires. The South American market is majorly driven by Brazil contributing about 1/2 of the overall regional tyre market. Argentina and Colombia are the 2nd and 3rd biggest tyre markets in the region whereas the Rest of the South American region contributes close to 1/4th of the total tire market in 2021. As the region is exposed to economic vulnerabilities caused to global commodity price fluctuations, the region as some systematic issues that need strong policy support. During the period of 2022 to 2027, the rest of the South American regional markets combined excluding the major economies are projected to be registering a growth rate of more than 7% CAGR. As of 2021, it was derived that about 107.10 Million units of passenger car tyres were sold in the region, making it one of the major drivers of the tyre market in the region. 3 Wheeler and other tyres are expected to be the fastest growing category during the 2022 to 2027 period, expected to grow at a CAGR of more than 10% in volume terms. COVID-19 Impact The pandemic affected the tire market in the region quite enormously. The countries in the region were under strict travel restriction along with time-to-time lockdowns. This lead to the decrease consumption as well as less replacement needs for the tires in automotive sector. This decrease in demands affected the market quite heavily. Along with this the demand for new vehicles decreased in the region due to the inconsistent economic condition created by the spread of the Virus.

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Arun Kalwani

Arun Kalwani

Research Analyst

Key Players: Apollo Tires, Bridgestone, CEAT Tires, Continental, Giti, Goodyears Tires, Hankook, JK tires, Kenda Kumho, Maxxis International, Michelin, Nexen Tire Corp, Pirelli, Sailun Group Co., Ltd, Sumitomo Rubber Industries, Titan International , Toyo Tire Corporation, Triangle Tire Co, Zhongce Rubber Group Co, Yokohama, Doublestar Tire, Linglong, Nankang Considered in the report • Geography: South America • Base Year: 2021 • Historical year: 2016 • Forecasted Year: 2027 Countries covered • Brazil • Argentina • Colombia • Rest of the South America

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Arun Kalwani

Aspects covered in the report • Market Size by Value (2016-2027F) • Market Size by Volume (2016-2027F) • Market Share by Vehicle Type • Market Share by End Use • Market Share by Design • Market Share by Sales Channel • Market Share by Country The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Automotive and Transport industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Companies Mentioned

  • Bridgestone
  • Apollo Tyres
  • Ceat Tyres
  • Continental
  • Giti Tire
  • Goodyear Tyres
  • Hankook Tire
  • JK Tyre
  • Kenda Rubber
  • Kumho Tires
  • Maxxis International
  • Michelin
  • Nexen Tire Corp
  • Pirelli
  • Sailun Group Co., Ltd
  • Sumitomo Rubber Industries
  • Titan International
  • Toyo Tire Corporation
  • Triangle Tyre Co
  • Zhongce Rubber Group Co
  • Yokohama
  • Doublestar Tire
  • Linglong
  • Nankang

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Report Methodology
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Market Definition
  • 4. Economic / Demographic Snapshot
  • 5. Global Tire Market Outlook
  • 5.1. Market Size by Value
  • 5.2. Market Size by Volume
  • 5.3. Market Share
  • 5.3.1. By Vehicle Type
  • 5.3.2. By End Use
  • 5.3.3. By Design
  • 5.3.4. By Sales Channels
  • 5.3.5. By Region
  • 5.3.6. By Country
  • 5.3.7. By Company
  • 6. South America Tire Market Outlook
  • 6.1. Market Size by Value
  • 6.2. Market Size by Volume
  • 6.3. Market Share
  • 6.3.1. By Vehicle Type
  • 6.3.2. By End Use
  • 6.3.3. By Design
  • 6.3.4. By Sales Channels
  • 6.3.5. By Country
  • 6.4. Brazil Tire Market Outlook
  • 6.4.1. Market Size by Value
  • 6.4.2. Market Share
  • 6.4.2.1. By Vehicle Type
  • 6.4.2.2. By End Use
  • 6.4.2.3. By Design
  • 6.5. Argentina Tire Market Outlook
  • 6.5.1. Market Size by Value
  • 6.5.2. Market Share
  • 6.5.2.1. By Vehicle Type
  • 6.5.2.2. By End Use
  • 6.5.2.3. By Design
  • 6.6. Colombia Tire Market Outlook
  • 6.6.1. Market Size by Value
  • 6.6.2. Market Share
  • 6.6.2.1. By Vehicle Type
  • 6.6.2.2. By End Use
  • 6.6.2.3. By Design
  • 7. Market Dynamics
  • 7.1. Key Drivers
  • 7.2. Key Challenges
  • 8. Market Trends and Developments
  • 8.1. XXXXXXXXXXX
  • 8.2. XXXXXXXXXXX
  • 8.3. XXXXXXXXXXX
  • 8.4. XXXXXXXXXXX
  • 9. Company Profiles
  • 9.1. Apollo Tires
  • 9.2. Bridgestone
  • 9.3. CEAT Tires
  • 9.4. Continental
  • 9.5. Cooper Tires
  • 9.6. Giti
  • 9.7. Goodyear Tires
  • 9.8. Hankook
  • 9.9. JK Tires
  • 9.10. Kenda
  • 9.11. Kumho
  • 9.12. Maxxis International
  • 9.13. Michelin
  • 9.14. Nexen Tire Corp
  • 9.15. Nokian Tires
  • 9.16. Pirelli
  • 9.17. Sailun Group Co., Ltd
  • 9.18. Sumitomo Rubber Industries
  • 9.19. Titan International
  • 9.20. Toyo Tire Corporation
  • 9.21. Triangle Tire Co
  • 9.22. Zhongce Rubber Group Co
  • 9.23. Yokohama Co
  • 10. Company Overview
  • 10.1. Doublestar Tire
  • 10.2. Linglong
  • 10.3. Nankang
  • 11. Strategic Recommendations
  • 12. Disclaimer

List of Tables
Table 1: Top 10 Counties Economic Snapshot 2021
Table 2: Economic Snapshot of Other Prominent Countries 2021
Table 3: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 4: Global Tire Market Share By Vehicle Type (Volume) (2016, 2021 & 2027F)
Table 5: Global Tire Market Share By End Use (2016, 2021 & 2027F)
Table 6: Global Tire Market Share By Design (2016, 2021 & 2027F)
Table 7: Global Tire Market Share By Sales Channel (2016, 2021 & 2027F)
Table 8: Global Tire Market Share by Region (2016, 2021 & 2027F)
Table 9: Global Tire Market Share by Country (2016, 2021 & 2027F)
Table 10: Global Tire Market Share by Company (2021)
Table 11: South America Tire Market Share By Vehicle Type (Volume) (2016, 2021 & 2027F)
Table 12: South America Tire Market Share By End Use (2016, 2021 & 2027F)
Table 13: South America Tire Market Share By Design (2016, 2021 & 2027F)
Table 14: South America Tire Market Share By Sales Channel (2016, 2021 & 2027F)
Table 15: South America Tire MarketShare by Country (2016, 2021 & 2027F)
Table 16: Brazil Tire Market Share By Vehicle Type (2016, 2021 & 2027F)
Table 17: Brazil Tire Market Value By Vehicle Type (USD Billion) (2016, 2021 & 2027F)
Table 18: Brazil Tire Market Growth By Vehicle Type (USD Billion) (2016, 2021 & 2027F)
Table 19: Brazil Tire Market Share By End Use (2016, 2021 & 2027F)
Table 20: Brazil Tire Market Share By End Use (USD Billion) (2016, 2021 & 2027F)
Table 21: Brazil Tire Market Growth By End Use (USD Billion) (2016, 2021 & 2027F)
Table 22: Brazil Tire Market Share By Design (2016, 2021 & 2027F)
Table 23: Brazil Tire Market Value By Design (USD Billion) (2016, 2021 & 2027F)
Table 24: Brazil Tire Market Growth By Design (USD Billion) (2016, 2021 & 2027F)
Table 25: Argentina Tire Market Share By Vehicle Type (2016, 2021 & 2027F)
Table 26: Argentina Tire Market Value By Vehicle Type (USD Billion) (2016, 2021 & 2027F)
Table 27: Argentina Tire Market Growth By Vehicle Type (USD Billion) (2016, 2021 & 2027F)
Table 28: Argentina Tire Market Share By End Use (2016, 2021 & 2027F)
Table 29: Argentina Tire Market Share By End Use (USD Billion) (2016, 2021 & 2027F)
Table 30: Argentina Tire Market Growth By End Use (USD Billion) (2016, 2021 & 2027F)
Table 31: Argentina Tire Market Share By Design (2016, 2021 & 2027F)
Table 32: Argentina Tire Market Value By Design (USD Billion) (2016, 2021 & 2027F)
Table 33: Argentina Tire Market Growth By Design (USD Billion) (2016, 2021 & 2027F)
Table 34: Colombia Tire Market Share By Vehicle Type (2016, 2021 & 2027F)
Table 35: Colombia Tire Market Value By Vehicle Type (USD Billion) (2016, 2021 & 2027F)
Table 36: Colombia Tire Market Growth By Vehicle Type (USD Billion) (2016, 2021 & 2027F)
Table 37: Colombia Tire Market Share By End Use (2016, 2021 & 2027F)
Table 38: Colombia Tire Market Share By End Use (USD Billion) (2016, 2021 & 2027F)
Table 39: Colombia Tire Market Growth By End Use (USD Billion) (2016, 2021 & 2027F)
Table 40: Colombia Tire Market Share By Design (2016, 2021 & 2027F)
Table 41: Colombia Tire Market Value By Design (USD Billion) (2016, 2021 & 2027F)
Table 42: Colombia Tire Market Growth By Design (USD Billion) (2016, 2021 & 2027F)
Table 43: Key Facts of Apollo Tires
Table 44: Key Facts of Bridgestone
Table 45: Key Facts of Ceat Tires
Table 46: Key Facts of Continental
Table 47: Key Facts of Cooper Tires
Table 48: Key Facts of Giti Tire
Table 49: Key Facts of Goodyear Tires
Table 50: Key Facts of Hankook Tire
Table 51: Key Facts of JK Tire
Table 52: Key Facts of Kenda Rubber
Table 53: Key Facts of Kumho Tires
Table 54: Key Facts of Maxxis International
Table 55: Key Facts of Michelin
Table 56: Key Facts of Nexen Tire Corp
Table 57: Key Facts of Nokian Tires
Table 58: Key Facts of Pirelli
Table 59: Key Facts of Sailun Group Co., Ltd
Table 60: Key Facts of Sumitomo Rubber Industries
Table 61: Key Facts of Titan International
Table 62: Key Facts of Toyo Tire Corporation
Table 63: Key Facts of Triangle Tire Co
Table 64: Key Facts of Zhongce Rubber Group Co
Table 65: Key Facts of Yokohama Co

List of Figures
Figure 1: Global Tire Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 2: Global Tire Market Size – By Volume 2016 to 2027F (In Million Units)
Figure 3: South America Tire Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 4: South America Tire Market Size – By Volume 2016 to 2027F (Million Units)
Figure 5: Brazil Tire Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 6: Argentina Tire Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 7: Colombia Tire Market Size – By Value 2016 to 2027F (In USD Billion)

Feed Phosphate Market Research FAQs

South America Tire market is projected to expand with over 7% CAGR for 2022-2027.

Above 140 million units of tires were consumed in South America during the year of 2021.

The increasing Automotive production and rise in demand for EV are the key growth factors for the market in the region.

The 3 Wheelers and other segment is expected to grow with the Highest CAGR of over 10% during the forecast period.

In 2021 the replacement category in the end use segment had the higher market share with value of around USD 9 Billion.

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South America Tire (Tyre) Market Outlook, 2027

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