Rising Vehicle Population to Drive Canada Tire Market till 2024
Growing
automobile fleet, rising industrialization and increasing tire sales through
online portals to drive Canada tire market through 2024
According to TechSci Research report, “Canada
Tire Market By Vehicle Type, By Demand Category, By Radial Vs Bias, By Tube
Vs Tubeless, Competition, Forecast & Opportunities, 2024”, tire
market across Canada is projected to cross $ 6 billion by the end of 2024. Increasing
vehicle population, launch of new products and growing replacement tire demand are
some of the major factors expected to drive the country’s tire market during
forecast period. Moreover, rising urbanization, expanding industrialization and
infrastructure development would have a positive impact on tire market across
the country in coming years.
Browse 3 market data Tables and 45 Figures
spread through 75 Pages and an in-depth TOC on “Canada
Tire Market”
https://www.techsciresearch.com/report/canada-tire-market/4036.html
Owing
to growing carbon emissions, sales of hybrid and electric vehicles have been
growing at an exponential rate over last few years in the country. To capitalize
on the growing demand for hybrid and electric vehicles, manufacturing giants are
also increasing their focus and resources in order to better penetrate the
market with their hybrid and electric car variants, thus generating demand for
high performance tires. Passenger
car tire segment dominated the country’s tire market in 2018 and is expected to
maintain its leading market position in coming years, backed by expanding passenger
car fleet, launch of new products and increasing inclination of customers
towards passenger cars.
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“Several tire manufacturing companies such as Bridgestone, Michelin,
Goodyear, Kumho, Hankook and Continental are expanding their dealer and distribution network in the country,
which is expected to fuel the tire market. Moreover, growing construction
industry and expanding vehicle fleet would offer growth opportunities to
players operating in Canada tire market during the forecast period.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Canada Tire Market By Vehicle Type, By Demand
Category, By Radial Vs Bias, By Tube Vs Tubeless, Competition, Forecast &
Opportunities, 2024” has analyzed the potential of tire market
across Canada, and provides statistics and information on market size, shares
and trends. The report will suffice in providing intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyses emerging trends
along with essential drivers and key challenges faced by the industry.
About TechSci Research
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market trends.
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