Chile Tire Market to Witness Significant Growth During Forecast Period
Anticipated increase in
vehicle sales coupled with expanding vehicle fleet size to drive Chile tire
market through 2025
According
to TechSci Research report, “Chile
Tire Market, By Vehicle Type, By Sales Channel, By Radial Vs Bias,
Competition, Forecast & Opportunities, 2025”,
Chile tire market is expected to witness significant
growth in the next five years on account of growing sales of two-wheelers and
passenger cars in the country. Moreover, rising disposable income is boosting
demand for premium vehicles in the country, which is expected to augment the demand for tires as well in the coming
years.
Browse market data Tables and Figures spread through Pages and an
in-depth TOC on " Chile
Tire Market "
https://www.techsciresearch.com/report/chile-tire-market/4393.html
Chile tire market can be segmented based on vehicle type, radial vs
bias, sales channel, company and region. Based on the vehicle type, passenger
car segment dominated the market on account of increasing passenger car fleet
backed by rising per capita income and growing number of nuclear families across
the country. Between radial and bias, bias segment accounted for the largest
share in the market and the trend is likely to continue in the coming years as
well. This is due to the reason that bias tires have thicker sidewalls offering
more resistant to punctures, besides being more cost effective.
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Goodyear
Tire & Rubber Company, Pirelli Neumaticos Chile LTDA, Michelin Group, Yokohama
Rubber Co. Ltd, Hankook Tire & Technology Group, Kumho Tire Co., Inc., Continental
AG, Sumitomo Rubber Industries, Ltd., Toyo Tire Corporation, among others are
the leading players operating in the Chile tire market. The companies are
adopting strategies such as expansion in new locations, mergers &
acquisitions and product developments. With rising focus of these leading
players on sales and marketing activities, the tire industry in Chile is
anticipated to witness intensifying competition over the next five years.
“Increasing
two-wheeler and passenger car sales and production is pushing demand for tires
in Chile. Favorable government policies and structural reforms in the country
are anticipated to benefit the construction industry, which is expected to grow
on account of increasing foreign investment, in turn catalyzing growth in heavy
commercial vehicle segments of automotive and tire markets of Chile.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Chile Tire Market, By Vehicle Type, By Sales
Channel, By Radial Vs Bias, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Chile 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 decision. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in the Chile tire market.
Contact
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