Brazil Retreaded Tire Market to Cross Billion Dollar Mark by 2022
Rising popularity of retreaded tires due to their
cost-effectiveness and long lifecycle coupled with introduction of better
technologies to propel Brazil retreading tire market through 2022
According to TechSci Research report, “Brazil Retreading
Tire Market By Vehicle Type, Competition Forecast &
Opportunities, 2012 - 2022”, Brazil retreaded tire market is projected
to reach nearly $ 1.1 billion by 2022. Proliferating growth in the country’s retreading
tire market is being backed by growing preference for retreaded tires among
fleet owners, increasing availability of quality products and cost-effectiveness
of retreaded tires. Moreover, with growing e-commerce and logistics industries,
need for transportation is growing rapidly in Brazil, which is augmenting demand
for retreaded tires, especially from trucking industry. Additionally, with
rising vehicle fleet and environmental concerns, demand for retreaded tires is
anticipated to rise in Brazil in the coming years.
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In vehicle type segment, trucks dominate the Brazil retreading tire
market, and the segment grabbed more than two-thirds of the share in the
country’s retreaded tire market in 2016. The leading position of this segment is
backed by growing e-commerce and logistics industries, in which trucks are
extensively used for transportation. Fleet owners prefer retreaded tires as
they offer them higher profit margins as compared to new tires and also have a
long running life.
Among regions, South-east region in Brazil maintained the leading
position in 2016. The region witnesses a large demand for retreaded tires on
account of high population density coupled with high penetration of e-commerce,
trucking industry and other businesses. Moreover, South-east region is
anticipated to maintain its dominance during the forecast period as well on the
back of increasing population and commercialization in the region. Bandag is
the market leader in Brazil retreading tire market on account of its broad product
portfolio and high product quality offered by the company.
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“With rising environmental concerns, retreaded tires offer
a viable alternative to new tires. Moreover, retreaded tires are cost-effective
and have a good running life. Also, with the introduction of new advanced
technologies, their quality has become better over the last few years, thereby
making them a preferred choice for fleet owners. Furthermore, extended support
from domestic government to facilitate the use of retreaded tires in Brazil is
also expected to positively influence the sales of retreaded tires in the country
over the next five years.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Brazil Retreading Tire
Market By Vehicle Type, Competition Forecast & Opportunities, 2012 - 2022” evaluates the future growth
potential of retreading tire market in Brazil, and provides statistics and
information on market sizes, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help them
in taking sound investment decisions. Besides, the report also identifies and analyzes
emerging trends along with essential drivers and key challenges faced by Brazil
retreading tire market.
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