Dublin, Oct. 04, 2021 (GLOBE NEWSWIRE) -- The "Mexico Replacement Tire Markets 2021-2026" report has been added to ResearchAndMarkets.com's offering.
Mexico replacement tire market was valued USD4.40 Billion in 2020 and is forecast to grow at CAGR of 5.94% through 2026
Growth in the country can be attributed to growing fleet size in the country. Increase in the fleet size of automobiles in Mexico is boosting the aftermarket demand for tires in the country.
Moreover, the growing disposable income level of middle-class population in the country has significantly augmented the demand for passenger cars over the years, resulting in expansion of fleet size, leading to growth in demand of replacement tires in Mexico. Growth in Mexico replacement tire market can also be attributed to the increasing online sales of replacement tires in the country.
E-commerce companies are showing positive signs of growth in Mexico, owing to rising internet penetration, online sales of replacement tires are increasing in the country, backed by various benefits such as brand and price comparison, fast delivery and high discount offers.
Thus, a large number of companies across Mexico are selling tires via the online platform, in order to expand their business. The online platform also cuts the overhead expenses and time that customers would incur while opting for traditional style of buying tires making the process hassle free and helping them to make better product choices.
Some of the major players operating in Mexico replacement tire market are Bridgestone de Mexico SA de CV, Industrias Michelin, S.Ade C.V., Goodyear Servicios Comerciales, S.de R.L. de C.V, JK Tornel, Continental Tire de Mexico S.A. de C.V. etc, with Bridgestone de Mexico SA de CV and Industrias Michelin, S.A de C.V are collectively holding around 30% market share in Mexico replacement tire market.
Objective of the Study:
- To analyze the historical growth in market size of Mexico replacement tire market from 2016 to 2020.
- To estimate and forecast the market size of Mexico replacement tire market in terms of value as well as volume from 2021 to 2026 and growth rate until 2026.
- To assess the demand-supply scenario of Mexico replacement tire market which covers its production, demand, supply, and net inventory status globally.
- To classify and forecast Mexico replacement tire market based on by vehicle type, by tire construction type, by sales channel, by price segment, by region, by top 10 cities, by company, by tier type to identify drivers and challenges for Mexico replacement tire market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Mexico replacement tire market.
- To conduct the pricing analysis for Mexico replacement tire market.
- To identify and analyze the profile of leading players involved in the manufacturing of Mexico replacement tire market.
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Mexico Replacement Tire Market, By Vehicle Type:
- Passenger Car
- LCV
- M&HCV
- Two-Wheeler
- OTR
Mexico Replacement Tire Market, By Tire Construction Type:
- Radial
- Bias
Mexico Replacement Tire Market, By Sales Channel:
- Offline
- Online
Mexico Replacement Tire Market, By Price Segment:
- Ultra Budget
- Budget
- Premium
Mexico Replacement Tire Market, By Region:
- Central Mexico
- Central North
- North
- South Mexico
Companies Mentioned
- Bridgestone de Mexico SA de CV
- Industrias Michelin, S.Ade C.V.
- Hankook Tire de Mexico, S.A de C.V.
- Goodyear Servicios Comerciales, S.de R.L. de C.V.
- Pirelli Neumaticos de Mexico, S.A. de C.V
- Continental Tire de Mexico S.A. de C.V.
- Yokohama Tire Mexico (YTMX)
- Nt Mexico S. De R.L. De C.V. (Mexico) (Toyo Tires)
- Westlake Mexico (Hangzhou Zhongce Rubber Company)
- JK Tornel, SA de CV
For more information about this report visit https://www.researchandmarkets.com/r/dxbxxn
