Logo
Latin America Tire (Tyre) Market Outlook, 2026

Latin America Tire (Tyre) Market Outlook, 2026

Bonafide Research 13-07-2021 113 Pages Figures : 7 Tables : 42
Region : South America Category : Automotive & Transport Automotive Parts

1. Bridgestone

2. Apollo Tyres

3. Continental

4. Cooper Tires

5. Goodyear Tyres

More...

The Latin American tire 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 Latin American tire market finds itself on a suitable pedestal to grow upon. As per the research conducted by Bonafide Research under the title “Latin America Tire Market Outlook, 2026”, the market is evaluated to be more than 130 Million units as of 2020 and is expected to grow at a CAGR of more than 7% in terms of volume during the period of 2021 to 2026.

In order to assess and study the regional trends and patterns in the Latin American tire 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 tires 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 tires and OEM demand for tires. On the basis of design types, the tire market is segmented as radial tires and bias ply tires. In order to have a broader understanding of the landscape of tire market in Latin 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. The research also includes profiles of some of the major tire companies in the world, namely: Bridgestone, Michelin, Sumitomo, Goodyear, Continental, Pirelli, Yokohama, Cooper tires, Apollo, MRF, Hankook, and Maxxis.

The Latin American market is majorly driven by Brazil contributing about 1/2 of the overall regional tire market. Argentina and Columbia are the 2nd and 3rd biggest tire markets in the region whereas the Rest of the Latin American region contributes close to 1/4th of the total tire market in 2020. 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 2021 to 2026, the rest of the Latin American regional markets combined excluding the major economies are projected to be registering a growth rate of more than 7% CAGR. As of 2020, it was derived that about 104.63 Million units of passenger car tires were sold in the region, making it one of the major drivers of the tire market in the region. 3 wheeler and other tires are expected to be the fastest growing category during the 2021 to 2026 period, expected to grow at a CAGR of more than 10% in volume terms.

The Latin American tire 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 Latin American tire market finds itself on a suitable pedestal to grow upon. As per the research conducted by Bonafide Research under the title “Latin America Tire Market Outlook, 2026”, the market is evaluated to be more than 130 Million units as of 2020 and is expected to grow at a CAGR of more than 7% in terms of volume during the period of 2021 to 2026.

To assess and study the regional trends and patterns in the Latin American tire 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 based on vehicle types, end-use demand, and the demand of tires 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 wheelers, and other vehicles including bicycles. The categorization based on end-use demand includes demand for replacement tires and OEM demand for tires. On the basis of design types, the tire market is segmented as radial tires and bias-ply tires. In order to have a broader understanding of the landscape of the tire market in Latin America, further segmentation has been made based on countries, and the sales channels through which the products are made available to the distributors and customers. The research also includes profiles of some of the major tire companies in the world, namely: Bridgestone, Michelin, Sumitomo, Goodyear, Continental, Pirelli, Yokohama, Cooper tires, Apollo, MRF, Hankook, and Maxxis.

The Latin American market is majorly driven by Brazil contributing about 1/2 of the overall regional tire market. Argentina and Columbia are the 2nd and 3rd biggest tire markets in the region whereas the Rest of the Latin American region contributes close to 1/4th of the total tire market in 2020. As the region is exposed to economic vulnerabilities caused to global commodity price fluctuations, the region has some systematic issues that need strong policy support. During the period of 2021 to 2026, the rest of the Latin American regional markets combined excluding the major economies are projected to be registering a growth rate of more than 7% CAGR. As of 2020, it was derived that about 104.63 Million units of passenger car tires were sold in the region, making it one of the major drivers of the tire market in the region. 3 wheeler and other tires are expected to be the fastest-growing category during the 2021 to 2026 period, expected to grow at a CAGR of more than 10% in volume terms.

CONSIDERED IN THE REPORT
• Geography: Latin America
• Base Year: 2020
• Historical year: 2015
• Forecasted Year: 2026

COUNTRIES COVERED
• Brazil
• Argentina
• Columbia
• Rest of the Latin America

ASPECTS COVERED IN THE REPORT
• Market Size by Value (2015-2026F)
• Market Size by Volume (2015-2026F)
• Market Share by Vehicle Type
• Market Share by End Use
• Market Share by Design
• Market Share by Sales Channel
• Market Share by Country

THIS REPORT WOULD HELP YOU ANSWER THE FOLLOWING QUESTIONS:
• What is the size of the Latin America tire market?
• How much do different vehicle types contribute to the Latin America tire market?
• What are the growth trends of radial tires and bias ply tires in Latin America?
• To what extend did Covid-19 pandemic impact the OEM and replacement demand of tires in the Latin America region?
• What are the drivers, development and key challenges in the Asian Pacific tire market?

Read More

Card image cap

Interested in this report?
Get your FREE sample!

Requirement Gathering & Methodology
Data Collection Techniques
Our Research Team & Data Sourcing
Data Science & Analytical Tools
Data Visualization & Presentation Skills
Project/ Report Delivery & After Sales Services