NEW YORK, Jan. 5, 2017 /PRNewswire/ -- In 2015, Brazil was the sixth largest commercial vehicle and seventh largest passenger car sales destination, globally. Growing domestic demand for automobiles, increasing per capita income levels of consumers and availability of skilled workforce have attracted significant foreign direct investments in the country over the last decade. Moreover, in 2013, the Federal government of Brazil introduced an initiative named as Inovar Autoto to increase the automobile manufacturing activities in the country. Under this program, automobile manufacturers are being encouraged to invest in Brazil, aimed at producing more efficient, safer and technologically advanced vehicles. Major global auto manufacturers such as Fiat, Toyota, Hyundai, Volkswagen, Ford, GM, and Nissan intend to either establish a new manufacturing facility or expand their existing production facilities in Brazil, in order to address the growing tire demand in the coming years. Consequently, tire market in Brazil is expected to grow at a modest rate during the forecast period.
According to TechSci Research report, "Brazil Tire Market Forecast & Opportunities, 2021", tire market in Brazil is forecast to cross US$ 6.5 billion by 2021. In terms of vehicle type, the tire market in Brazil has been segmented into Passenger Car (PC), Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV), Two-wheeler (2W) and Off-The-Road (OTR). Among these categories, passenger car segment dominated the Brazil tire market, followed by two-wheeler and LCV segments. As a result, the passenger car tire segment held the largest volume share in the country's tire market in 2015, and its dominance is anticipated to continue during the forecast period as well. Moreover, replacement demand for tires is anticipated to grow at a faster rate during 2016-2021, as compared to OEM tire demand. As a result, the market share of replacement tire segment is expected to further increase through 2021. Some of the major players operating in the country's tire market are Pirelli, Michelin, Goodyear, Bridgestone, Continental and Rinaldi, among others. "Brazil Tire Market Forecast & Opportunities, 2021'' elaborates on the following aspects of tire market in Brazil:
- Brazil Tire Market Size, Share & Forecast
- Segmental Analysis – By Vehicle Type (Passenger Car, Medium & Heavy Commercial Vehicle, Light Commercial Vehicle, Off-The-Road (OTR) & Two-Wheeler); By Demand Category (OEM Vs. Replacement), By Radial Vs. Bias
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of Brazil tire market
- To identify the on-going trends and segment wise anticipated growth in the next five years
- To help industry consultants, tire companies and other stakeholders to align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based on both primary and secondary research. Primary research included interviews with tire companies, distributors and industry experts. Secondary research includes an exhaustive search of relevant publications such as company annual reports, financial reports and proprietary databases.
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