LONDON, Dec. 23, 2015 /PRNewswire/ -- Larger wheel sizes and increasing demand for quality from customers drive prices and revenue higher in the Mexican tires aftermarket. This research analyzes demand for replacement tires for passenger vehicles and commercial trucks in Mexico's 3 largest cities. It covers growth opportunities in emerging segments such as retreading. The research includes unit shipment and revenue forecasts, market drivers and restraints, industry challenges, averaging pricing, and market share analyses. It also segments the market to include forecasts by vehicle and tire type, wheel diameter, and speed rating. Conclusions and future outlook are also provided.
Executive Summary—Key Findings
The Mexican tire aftermarket will offer high growth over the next ?– years, with total revenue more than doubling by 2019.
- The Mexican tire aftermarket is expected to grow, with opportunities available in different areas, such as in commercial vehicles.
- Due to the increase of average unit price, increased wheel sizes, and better customer understanding of tire quality benefits, revenue is expected to grow fast.
- Mexico City is the target location for all competitors in the global tire market. Besides having the largest number of vehicle registrations, most of the largest cargo and bus companies are headquartered here.
- Mexico is expected to become a net tire exporter, with top manufacturers investing in manufacturing operations to quickly supply to the burgeoning OEM market, meet local market demands, and export to
neighboring countries including the United States.
Total Tire Aftermarket
- Aftermarket outlook: After the downturn caused by the 2008 global economic crisis, the Mexican tire aftermarket reached million units in 2014, generating $ billion in revenue, an all-time high.
- This market is expected to continue growing at a healthy compound annual growth rate (CAGR) of % in terms of units from 2014 to 2019.
- The growth is supported by strong local vehicle sales and a growing economy that is driving up the size of the medium socio-economic segment and the related purchasing power. In some areas of Mexico, roads
are in poor condition, and increase tire replacement rates.
- The tire aftermarket is likely to reach million units in sales and $ billion in revenue by 2019.
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