Canada Tire (Tyre) Market Overview, 2027

"The tire market in Canada is a robust and competitive industry that caters to the diverse needs of consumers and businesses across the country. The replacement tire market is a significant segment in Canada. As vehicles age and tire wear becomes evident, consumers replace their tires to maintain safety and performance. The replacement tire market is influenced by factors such as changing weather conditions, road infrastructure, and consumer preferences for specific tire features.Canada's harsh winters contribute to the dominance of winter tires in the market. Winter tires, designed to provide enhanced traction and performance in snowy and icy conditions, are a legal requirement in some provinces. Canadian consumers prioritize winter tire purchases to ensure safe driving during the winter months, leading to increased demand for these specialized tires. All-season tires are popular in Canada due to their versatility across different weather conditions. These tires offer a balance of performance in both summer and winter seasons, making them suitable for regions with milder winters. All-season tires provide convenience and eliminate the need for seasonal tire changes, appealing to many Canadian consumers. The tire market in Canada is shaped by factors such as weather conditions, consumer preferences, safety regulations, and advancements in tire technology. With a focus on winter tires, all-season versatility, fuel efficiency, and safety, the market offers a wide range of tire options to meet the diverse needs of Canadian consumers. According to Bonafide Research’s report titled ""Canada Tire (Tyre) Market Overview, 2027"" the tire (tyre) industry market of usa is expected to grow rapidly over the forecasted period from the year 2022 to 2027. The tire (tyre) market is segmented by end use, OEM, and replacement. The replacement segment holds a major market share as users generally replace tyres due to their wear and tear. OEM, on the other hand, is a one-time purchase that comes with the vehicle when purchased. The tires (tyres) must demonstrate that they are capable of driving in a variety of situations, including rain, snow, dry roads, and pavement. As a result, these tires (tyres) may be construed as jack-of-all-trades, which is undoubtedly right; they're competent in a variety of areas. The tire (tyre) was designed specifically to emphasise and showcase the attributes of the vehicles. The increasing popularity of SUVs and light trucks in Canada has driven a higher demand for tires designed specifically for these vehicles. Consumers seek tires that offer durability, handling, and comfort for their larger vehicles. This trend has led to the growth of the SUV and light truck tire segment. Consumers in Canada are becoming more conscious of fuel efficiency and environmental sustainability. This has resulted in a growing demand for fuel-efficient tires that have low rolling resistance. Tire manufacturers are responding to this trend by developing eco-friendly tire technologies to help consumers reduce fuel consumption and lower carbon emissions. It is critical to select the proper pair of tires (tyres) for the vehicle in order to get the desired performance, and the selection of tires (tyres) also depends on the type of vehicle. In countries like the USA, where commercial cars are used more, and in countries like India, where the two-wheeler market is much higher than in any other country, the tire (tyre) market for these vehicles is growing significantly in each country. Commercial heavy-weight vehicles, as opposed to passenger cars, two-wheelers, three-wheelers, and commercial light-weights, are designed to handle long straight highways and unpaved areas while carrying a lot of weight. Trucks require long-lasting tyres due to their large size and strong load-carrying capacity. Furthermore, with the advancement of new age technology, tires (tyres) now last longer, give superior drivability, and increase fuel savings. Radial tires (tyres) have far superior tread wear, lasting three times as long as bias-ply tires (tyres). Radial tires (tyres) are also less likely to develop flat patches when parked in the same location for an extended length of time, and they run cooler on long excursions. Extensive road networks throughout countries have driven increased manufacturing of trucks, buses, and other types of public transportation, which has accelerated demand for radial tires (tyres). Considered in this report • Geography: China • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • China tire (tyre) industry Market with its value and forecast along with its segments • Application wise tire (tyre) industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

Based on market share: • By End use • By Vehicle type • By design type Based on By End use types: • By original equipment manufacturer (OEM) • By Replacement type Based on By vehicle types: • Passenger cars • Commercial light-weight • Commercial heavy-weight • Two-wheelers • Three-wheelers • Other types

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Manmayi Raval

Research Consultant

Based on By Design types: • Radial • Bias tire (tyre) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry manufactures, consultants, Key vendors related to Tire (tyre) industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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