Overview of the Canada Tire Market: Key Statistics and Trends:
According to the latest report by MarkNtel Advisors, titled “Canada Tire Market By Type of Vehicles (Passenger Car, Light Commercial Vehicle, Medium and Heavy Commercial Vehicles, Off the Road (OTR), Two Wheelers), By Demand Category (OEMand Replacement), By Type of Tires (Radial and Bias), By Sales Channel (Dealer/Exclusive Outlets, Online and Others), By Season (All season, Summer), By Price Category (Budget, Economy, Premium), By Rim Diameter (Up to 12”, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”) and others, The Canada Tire Market size is valued at USD 5.1 billion in 2023 is estimated to grow at a CAGR of around 2.4% during the forecast period, i.e., 2024-30. The report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.
Canada Tire Market Growth and Scope:
Base Year: 2023
Forecast Period: 2024-30
Historical Data: 2019-22
CAGR (2024-2030): 2.4%
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Canada Tire Market Trend:
Growing adoption of Winter Tires in Canada - While winters in Canada are usually cold snowy, the adoption of winter tires witnessed an upswing in the coldest months as they provide a better grip on snowy icy terrains. As a result, the government of Canada is encouraging the adoption of these tires to enhance safety reduce the number of road accidents in the country. Additionally, since winter tires are meant to perform at low temperatures, they have better cornering grip, braking, traction and deliver greater vehicle control. Hence, winter tyre are swiftly gaining traction across Canada. Besides, growing consumer awareness about the benefits of winter tires, such as easy cut through snow, enhanced durability road safety, and superior traction, among others, are other crucial aspects projected to boost their adoption and drive the market through 2030.
A Comprehensive Analysis of Leading Companies of Canada Tire Market by MarkNtel Advisors:
- Continental Tire Canada
- Bridgestone Canada (BSCA)
- Yokohama Tire (Canada)
- Hankook Tire Canada
- Goodyear Canada
- Michelin North America (Canada)
- Kumho Tire Canada
- Pirelli Tire
- Toyo Tire Canada
Key Canada Tire Market Segmentation:
-By Type of Tire
- Radial
- Bias
among all, Radial Tires dominated the Canada Tire Market with the largest share in recent years. The surging number of industrial projects leading to the escalating sales of heavy vehicles is the prime aspect driving the demand for radial tires.
-By Demand Type
- OEM
- Replacement
Here, the 'Replacement' demand dominated the Canada Tire Market with the largest share in recent years and is anticipated to prevail the same trend during the forecast period.
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-By Type of Vehicles
- Passenger Car
- Light Commercial Vehicle
- Buses and Trucks
- Medium and Heavy Commercial Vehicles
- Off the Road (OTR)
- Two Wheelers
-By Sales Channel
- Dealer/Exclusive Outlets
- Online
- Direct Sales
-By Season
- All season
- Summer
- Winter
-By Price Category
- Budget (Up to USD90)
- Economy (USD91-USD140
- Premium (Above USD140)
-By Rim Diameter
- Up to 12”
- 1” to 15”
- ” to 18”
- 1” to 20”
- 1” to 22.5”
- 6” to 26”
- 1” to 35”
- 1” to 47”
- Above 47”
Geographical Analysis
-By Region
- West
- North
- South
- East
Key Reports Highlights:
- Market Dimensions Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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Key Advantages of the Report by MarkNtel Advisors:
- Accurate Revenue Projections: The report provides precise revenue estimates for the market and its key sub segments, benefiting both market leaders and new entrants.
- Strategic Insights for Stakeholders: By understanding the competitive landscape, stakeholders can strategically position their businesses and develop effective go-to-market strategies.
- Comprehensive Market Dynamics Analysis: The report offers valuable insights into the key drivers, restraints, challenges, and opportunities within the market, helping stakeholders make well-informed decisions.
Note: If you need additional information not included in the report, we can customize it to suit your requirements.
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About Us –
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative quantitative research company, strive to deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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