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 (Passenger Cars, Light Commercial Vehicles,
Medium & Heavy Commercial Vehicles, Two- Wheelers & Off Road Vehicles),
By Demand Category (OEM Vs Replacement), By Radial Vs Bias, Competition,
Forecast & Opportunities, 2025”, tire market in Canada is
projected to cross USD 6.26 billion by the end of 2025. 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.
Moreover, increase in vehicle sales owing to drop in
vehicle price are also augmenting the tire market growth. In addition to this,
tire manufactures are expanding their dealer/distributor network and expanding
their product portfolios with high-performance tires to meet the requirements
of different driving conditions. This is further expected to support the Canada
tire market growth in next five years. Apart from that, Chinese tire companies
are also continuously increasing their penetration and gaining ground in Canada
tire market due to their low prices and ease of availability.
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
Based on vehicle
type, market can be segregated into two wheeler, light commercial vehicle,
medium & heavy commercial vehicle, three wheeler, and off the road. Passenger car tire segment dominated
the country’s tire market in 2019 and the segment 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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“Tire companies operating in Canada are expanding
their dealer/distributor network as well as expanding their product portfolios
with high-performance tires to meet the requirements of different driving
conditions. Moreover, Chinese tire companies are continuously increasing their
penetration and gaining ground in Canada tire market as they offer products at
low price and provide ease of availability.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Canada Tire Market By Vehicle Type (Passenger Cars,
Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Two-
Wheelers & Off Road Vehicles), By Demand Category (OEM Vs Replacement), By
Radial Vs Bias, Competition, Forecast & Opportunities, 2025” 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.
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