Surge in automotive production & sales across several segments, rise in competition among tire producers, and emergence of advanced technology in the manufacturing activities drive the demand for Brazil automotive tire market. However, the prolonged lockdown in different regions has disrupted supply chain and enforced manufacturers to shut down R&D activities for stopping the spread of the coronavirus.
As per the report published by Allied Market Research, the Brazil automotive tire market was pegged at USD 1.87 billion in 2019, and is anticipated to reach USD 2.05 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027.
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Increase in automotive production & sales across several verticals, surge in competition among tire manufacturers, and advent of advanced technology in the manufacturing process have boosted the demand for Brazil automotive tire market. However, fluctuating prices of raw materials and emergence of the retreading tires market hamper the market growth. On the contrary, advancements in technology to address concerns related to fuel efficiency and safety would open new opportunities in the future.
The Brazil automotive tire market has been categorized based on different seasons, size of rim, vehicle type and distribution channel. The all-season tires is the leading segment in the Brazil automotive tire market due to their wider application. Based on the size of rim, more than 20 inches vehicle rim have a greater market share. Meanwhile the passenger car segment is leading in Brazil due to the increased sale of cars and the aftermarket distribution channel holds a major market share in the Brazil automotive tire market due to the increased sales through aftermarket.
Segment Insights:
By Season Type: The market is categorized into summer, winter, and all-season tires, reflecting growing consumer preference across climatic zones.
By Rim Size:
The 15–20 inch segment is forecasted to exhibit the highest CAGR of 6.3% through 2027.
However, the more than 20 inches segment dominated in 2019, contributing to nearly half of the total market share.
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By Vehicle Type:
The electric vehicle (EV) segment is anticipated to register the fastest CAGR of 12.2%, fueled by Brazil’s gradual shift toward sustainable mobility.
Despite the EV surge, passenger cars retained the largest revenue share in 2019, capturing over 50% of the market.
By Distribution Channel:
The aftermarket segment accounted for the lion’s share in 2019, reflecting strong demand for replacement tires.
Meanwhile, online sales are expected to rise sharply, registering the highest CAGR of 6.7%, as digital purchasing gains traction among Brazilian consumers.
Key Players Shaping the Market:
Prominent players steering the competitive landscape include Bridgestone Corporation, MICHELIN, The Goodyear Tire & Rubber Company, Continental AG, Pirelli Tyre C. S.p.A., Maxxis International, Sumitomo Rubber Industries Ltd., Toyo Tire Corporation, Hankook Tire & Technology Co., Ltd., Nokian Tyres plc., and The Yokohama Rubber Co., Ltd.
The report underscores a dynamic shift in consumer preferences, technological adoption, and distribution strategies, positioning Brazil’s automotive tire market for notable evolution through 2027.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/brazil-automotive-tire-market/purchase-options
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