Rising Vehicle Population to Drive Canada Tire Market till 2024

Growing automobile fleet, rising industrialization and increasing tire sales through online portals to drive Canada tire market through 2024

According to TechSci Research report, “Canada Tire Market By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Two- Wheelers & Off Road Vehicles), By Demand Category (OEM Vs Replacement), By Radial Vs Bias, Competition, Forecast & Opportunities, 2025”, tire market in Canada is projected to cross USD 6.26 billion by the end of 2025. Launch of new products and growing replacement tire demand are some of the major factors expected to drive the country’s tire market during forecast period. Moreover, rising urbanization, expanding industrialization and infrastructure development would have a positive impact on tire market across the country in coming years.

Moreover, increase in vehicle sales owing to drop in vehicle price are also augmenting the tire market growth. In addition to this, tire manufactures are expanding their dealer/distributor network and expanding their product portfolios with high-performance tires to meet the requirements of different driving conditions. This is further expected to support the Canada tire market growth in next five years. Apart from that, Chinese tire companies are also continuously increasing their penetration and gaining ground in Canada tire market due to their low prices and ease of availability.

Browse 3 market data Tables and 45 Figures spread through 75 Pages and an in-depth TOC on “Canada Tire Market”

https://www.techsciresearch.com/report/canada-tire-market/4036.html

Based on vehicle type, market can be segregated into two wheeler, light commercial vehicle, medium & heavy commercial vehicle, three wheeler, and off the road. Passenger car tire segment dominated the country’s tire market in 2019 and the segment is expected to maintain its leading market position in coming years, backed by expanding passenger car fleet, launch of new products and increasing inclination of customers towards passenger cars.   

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“Tire companies operating in Canada are expanding their dealer/distributor network as well as expanding their product portfolios with high-performance tires to meet the requirements of different driving conditions. Moreover, Chinese tire companies are continuously increasing their penetration and gaining ground in Canada tire market as they offer products at low price and provide ease of availability.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Canada Tire Market By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Two- Wheelers & Off Road Vehicles), By Demand Category (OEM Vs Replacement), By Radial Vs Bias, Competition, Forecast & Opportunities, 2025” has analyzed the potential of tire market across Canada, and provides statistics and information on market size, shares and trends. The report will suffice in providing intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by the industry.

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