Press Release

Colombia Tire Market to Grow with a CAGR of 5.8% through 2030

Colombia’s tire market is growing steadily, driven by urbanization, expanding vehicle ownership, infrastructure development, fleet modernization, and rising demand for replacement tires across passenger, commercial, and two-wheeler segments.

 

According to TechSci Research report, “Colombia  Tire Market – By Region, Competition Forecast & Opportunities, 2030F”, Colombia Tire Market was valued at USD 655.44 Million in 2024 and is expected to reach USD 919.28 Million by 2030 with a CAGR of 5.8% during the forecast period. The Colombia tire market stands at a transformative juncture, shaped by a dynamic interplay of economic modernization, infrastructure revitalization, and regulatory evolution. As the country pivots toward greater urbanization and inter-city connectivity, tire demand is increasingly influenced by the need for fuel-efficient, durable, and terrain-specific products. The rise of digital mobility services—such as app-based taxi fleets, food delivery, and last-mile logistics—is quietly reshaping the aftermarket landscape, especially in Tier-2 and Tier-3 cities, where motorcycles and compact cars dominate. Government programs aimed at fleet modernization and reducing vehicular emissions are also nudging both commercial and passenger segments toward newer vehicles, indirectly driving OEM tire volumes. However, Colombia's topography presents unique usage patterns, as urban centers like Bogotá or Medellín require high-traction radial tires for winding high-altitude roads, while the coastal and rural regions sustain demand for rugged bias and OTR tires. Simultaneously, rising vehicle financing and used vehicle imports are expanding the replacement tire segment, creating an opportunity for mid-tier and value-brand players to grow. On the flip side, inflationary pressures, high import dependency for raw materials and finished tires, and currency volatility often translate into price-sensitive market behavior, especially outside metropolitan areas. The fragmentation of distribution networks and prevalence of informal retail outlets further complicate market penetration for new entrants and premium players. Additionally, the lack of nationwide recycling infrastructure for end-of-life tires continues to pose environmental and policy-related challenges. Still, Colombia's evolving mobility landscape—fueled by trade liberalization, digital commerce, and automotive innovation—offers a fertile ground for tire brands that can align with consumer expectations for safety, performance, and affordability. In this balancing act between opportunity and structural hurdles, success will hinge on tailored regional strategies, product localization, and deep-rooted retail partnerships.

 

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The Colombia Tire market is segmented into vehicle type, tire construction, demand category and region.

Based on vehicle type, the LCV segment—comprising vans, pickups, and small delivery trucks—has seen fastest expansion fueled by the growth of e-commerce, ride-hailing, and last-mile delivery services . Logistics volumes increased more than 10% in 2023, per DANE , boosting LCV tire demand. Buyers prefer radial tires for load-bearing and distance efficiency, though budget constraints keep bias variants in use. Government investment in rural road networks also supports this segment, as LCVs serve remote areas. While smaller than passenger cars, LCV tires are critical for Colombia’s logistics infrastructure and are expected to grow faster than broader vehicle segments.

Based on tire construction, Radial tires are the predominant technology across most segments: passenger cars, LCVs, M&HCVs, and two-wheelers—all favor radials for lower rolling resistance, improved longevity, ride comfort, and fuel efficiency . In M&HCV, radial penetration has hit over 60% by 2024, compared to under 40% a decade ago . Passenger car radial tires dominate of replacement volume, and even two-wheeler radial variants are growing swiftly. This shift is supported by tier-1 releases of radial-specific products and free trade agreements reducing radial tire costs.

Based on region, the Atlantic Lowlands, encompassing major port cities such as Barranquilla, Cartagena, and Santa Marta, is the fastest-growing region in Colombia’s tire market. This growth is underpinned by rapid development in logistics, tourism, agriculture, and port-led trade. These cities act as import hubs for tire brands—particularly from Asia and the U.S.—and serve as entry points for aftermarket products. The logistics and shipping industries are expanding rapidly, leading to increased use of medium and heavy commercial vehicles, which in turn drives demand for high-load radial truck and trailer tires. The region’s flat geography and long-haul trucking routes from ports to the Andean interior create a sustained need for durable radial tires. Motorcycle and taxi fleets are also increasing in this region due to high urban mobility and ride-sharing services. The growing economic investments in industrial parks and free trade zones further catalyze vehicular use. As of 2023, vehicle registrations in this region grew by over 8.5% YoY, outpacing the national average. The combination of rising commercial activity, improved infrastructure, and proximity to ports positions the Atlantic Lowlands as the fastest-growing tire market in Colombia.

Major companies operating in Colombia Tire market are:

  • Bridgestone Corporation
  • Continental AG
  • Yokohama Rubber Company Limited
  • Hankook Tire & Technology Co., Ltd.
  • Compagnie Générale des Établissements Michelin SCA
  • The Goodyear Tire & Rubber Company
  • Pirelli & C. S.p.A.
  • Sumitomo Rubber Industries Ltd.
  • Toyo Tire & Rubber Co., Ltd.
  • Shandong Wanda BOTO Tyre Co., Ltd.

 

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In recent years major tire retailers, banks, and fintech platforms are partnering to offer Buy Now, Pay Later (BNPL) or EMI-based tire purchases, especially for premium radial tires and performance tires used in SUVs and motorcycles. As of 2024, over 30% of tire purchases above USD 200 were financed through installment plans or credit-based purchases, according to a local study by Credibanco. Additionally, several vehicle insurance companies now offer tire protection add-ons or integrated tire replacement services as part of annual maintenance contracts. This is particularly common in corporate fleets and rental vehicle services operating under Fleet-as-a-Service (FaaS) models. Under such models, vehicles—including tires—are leased, maintained, and serviced for a fixed monthly fee. This enables companies to predict and manage tire-related costs better, without bearing the full burden of upfront tire purchases.” Said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

Colombia Tire Market, By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheelers, OTR), By Tire Construction Type (Radial, Bias), By Demand Category Type (OEM, Replacement), By Region, Competition, Forecast & Opportunities,2020-2030F”, has evaluated the future growth potential of Colombia  Tire market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Colombia Tire market.

 

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Colombia Tire Market, By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheelers, OTR), By Tire Construction Type (Radial, Bias), By Demand Category Type (OEM, Replacement), By Region, Competition, Forecast & Opportunities, 2020-2030F

Automotive | Jun, 2025

The major drivers for the Colombia Tire Market are increasing vehicle sales and ownership, a growing middle-class population, and investments in road infrastructure, leading to higher demand for tires.

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