Argentina Tire Market to Grow with a CAGR of 7.19% through 2030
Rising vehicle production, expanding logistics and freight activities,
and increasing consumer demand for replacement tires are the factors driving
the market in the forecast period 2026–2030.
According to TechSci Research report, “Argentina Tire Market – Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”,
The Argentina Tire Market was valued at USD 1.98 Billion in 2024 and is
expected to reach USD 3.01 Billion by 2030 with a CAGR of 7.19% during the
forecast period.
The Argentina tire market is experiencing steady growth, driven by the
continuous increase in vehicle ownership and a burgeoning demand for both
replacement and original equipment tires. Rising urbanization and economic
development have led to a higher demand for passenger vehicles, resulting in
increased tire consumption for both new and aging vehicles. This growth is also
propelled by the expansion of industries such as agriculture, logistics, and
construction, which significantly raise the demand for heavy-duty and
off-the-road (OTR) tires. As these industries invest in equipment and machinery
upgrades, the need for durable tires with enhanced load-bearing capacities
continues to grow.
In parallel, a marked shift toward performance and sustainability is
shaping consumer behavior. The preference for low rolling resistance tires is
rising due to their fuel-efficiency benefits, which align with both
environmental concerns and rising fuel costs. Consumers are increasingly
inclined toward high-performance and premium tires designed for better handling
and longer life, particularly for vehicles used in challenging conditions.
Meanwhile, technological innovations such as the introduction of tire sensors
for better maintenance and real-time performance monitoring are becoming more
mainstream. These innovations are transforming the market, enhancing consumer
experience and product value.
Despite these opportunities, the market faces notable challenges that
could hinder its growth. Rising inflation and currency fluctuations are
creating instability, leading to price hikes in both raw materials and imported
goods, which impact the cost structure for tire manufacturers. Furthermore,
while tire manufacturers focus on providing quality and durability,
counterfeiting remains a pervasive issue, with fake tires posing serious safety
risks. In addition, environmental concerns regarding tire disposal, recycling,
and compliance with evolving waste regulations continue to add pressure on the
industry. The sector is also grappling with logistical issues, such as
disruptions in supply chains that affect timely delivery and increase
operational costs. To navigate these challenges, manufacturers need to invest
in innovation, adopt sustainable practices, and refine their distribution
strategies to ensure a stable market position.
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Argentina Tire Market Is Segmented by Vehicle
Type, Distribution Channel, Construction Type, and By Region.
In 2024, the
fastest-growing segment in the Argentina tire market was the Commercial Vehicle
sector. This growth was largely driven by the increasing demand for transport
and logistics services, as commercial vehicles are essential for moving goods
across the country. The rise of e-commerce has played a significant role in the
surge of commercial vehicle usage, with companies requiring reliable
transportation for deliveries. Furthermore, industries such as agriculture and
construction continue to rely heavily on commercial vehicles, further boosting
the need for durable and high-performance tires. As commercial fleets expand,
the demand for tires that can withstand longer distances and heavy loads has
increased significantly. Additionally, the ongoing investment in infrastructure
projects has contributed to the growth of the commercial vehicle sector, as
more transportation services are needed to support urban and rural development.
The trend toward greater fuel efficiency and sustainability has also influenced
tire purchases in this segment, with commercial vehicle owners seeking tires
that offer better fuel economy and reduced environmental impact.
In 2024, the fastest-growing
region for tire demand was the Pampas. This region, known for its agricultural
importance, has seen substantial growth due to the increasing use of commercial
vehicles and agricultural machinery, which require specialized tires. The Pampas
benefits from the expansion of both farming operations and related industries,
driving the need for tires designed for heavy-duty vehicles. As agriculture
remains a backbone of the region’s economy, demand for durable,
high-performance tires in commercial vehicles has risen significantly.
Investments in infrastructure and road networks have also led to more vehicles
on the road, further boosting tire demand. The Pampas region’s growth is
directly tied to the ongoing development of local industries and the logistics
sector, making it a key driver of the tire market in 2024. With a combination
of industrial activity and infrastructure development, the Pampas stands out as
the fastest-growing region in the Argentine tire market.
Major Market Players
Operating in Argentina Tire Market Are:
- Pirelli Neumaticos S.A.I.C
- Michelin Argentina Co. Ltd
- Bridgestone Argentina S.A.I.C
- Neumaticos Goodyear SRL
- Yokohama Rubber Company Limited
- Kumho Tire Co. Inc.
- Continental AG
- Hankook Tire Co. Ltd.
- Sailun Group Co. Ltd
- Toyo Tire Corporation
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In my view, the Argentina tire market is growing
steadily, with commercial vehicles leading the charge. The increase in
e-commerce and infrastructure development is pushing the demand for reliable
transport solutions, which naturally boosts tire sales. What's really
interesting is how the shift towards more fuel-efficient and durable tires is
gaining traction, especially in commercial sectors. As the country continues to
evolve, we can expect the tire market to grow alongside the increasing need for
efficient, heavy-duty vehicles. The future looks promising with these
developments shaping the market for the better, said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based global management consulting
firm.
The report titled “Argentina Tire Market – Size,
Share, Trends, Opportunity, and Forecast, Segmented By Vehicle Type
(Two-Wheeler, Passenger Cars, Commercial Vehicle), By Demand Category (OEM,
Replacement), By Construction Type (Radial, Bias), By Region, By Competition,
2020-2030F”, assesses the market's future growth potential and provides data on
market size, trends, and forecasts. It aims to offer comprehensive market
insights, helping decision-makers make informed investment choices. The report
also highlights emerging trends, key drivers, challenges, and opportunities in
the Argentina Tire Market.
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