Mexico Replacement Tire Market, By Vehicle Type (Passenger Car, Two-Wheeler, LCV, M&HCV and OTR), By Tire Construction Type (Radial vs Bias), By Sales Channel (Online vs Offline), By Price Segment (Ultra Budget, Budget and Premium), By Region, By Top 10 Cities, By Company, Competition Forecast & Opportunities, 2026

  • Industry : Automotive
  • Pages : 128
  • Published Date : September, 2021
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Summary

Report Description

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.

The spread of the COVID-19 pandemic created both a public health crisis and an economic crisis in Mexico. In June 2020, the International Monetary Fund (IMF) forecast the Latin America GDP contraction of 9.4% for the year 2020 with almost every country including Mexico in recession. Unfortunately, from 2014, the country has been experiencing the weakest period of growth. According to the World Bank’s national accounts data, Mexico’s Gross Domestic Product (GDP) declined from USD1.31 trillion in 2014 to USD1.08 trillion in 2016, experiencing a massive 17.56% declination. The country was steadily recovering from 2016’s downfall with GDP showing a growth of 17.50% during 2016-2019 and is colossally hit by the COVID-19 pandemic as the country reported GDP of USD1.445 trillion in 2020, compared to USD1.878 trillion in 2019 and underwent steep 23.03% declination. Therefore, this recent GDP contraction comes as a severe impact to a deteriorating regional economy, worsening the health infrastructure and, consequently, the social conditions. Mexico’s government has acknowledged the impact of COVID-19 on the financial outputs of 2020. Various initiatives have been planned and rolled out to cope with the pandemic’s trade deficit to boost the economy of Mexico. To lift the ailing economy of the country, Andres Manuel Lopez Obrador, President of Mexico, in October 2020, revealed an infrastructure investment plan involving 39 joint public-private infrastructure projects (seven of which were already set in motion in December 2019). The cost of this private-backed package is presented to be USD14 billion (MXN27 billion). The Government’s initiative for stimulus and relief is expected to have a positive impact on the Mexico replacement tire market in the coming years.

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.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

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.

 

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To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of tire manufacturers and dealers operating in Mexico. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels, and regional presence of all major replacement tire suppliers across the country.

TechSci Research calculated the market size for Mexico replacement tire market using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Technology investors 
  • Governments and financial institutions
  • End users of replacement tires
  • Research organizations and consulting companies
  • Research institutes
  • Associations, organizations, forums, and alliances related to replacement tires
  • Replacement tire manufacturing coIndustry associations
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as replacement tire manufacturers, distributors and dealers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Mexico replacement tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • 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

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Mexico replacement tire market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to the company’s specific needs. The following customization options are available for the report:

Raw Material Analysis

  • Detailed list of different raw materials used in production of replacement tires, list of existing suppliers of raw materials, pricing analysis of raw materials, analysis of difference between imported and domestically procured raw materials.

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

Table of content

1.     Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Mexico Replacement Tire Market

4.    Executive Summary

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Brand Recall

5.3.  Brand Switching

5.4.  Brand Switching Attributes

5.5.  Brand Satisfaction Level

6.    Mexico Replacement Tire Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & By Volume

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Passenger Car, Two-Wheeler, LCV, M&HCV and OTR)

6.2.2.     By Tire Construction Type (Radial vs Bias)

6.2.3.     By Sales Channel (Online vs Offline)

6.2.4.     By Price Segment (Ultra Budget, Budget and Premium)

6.2.5.     By Region

6.2.6.     By Top 10 Cities (2020)

6.2.7.     By Company (2020)

6.2.8.     By Tier Type (2020)

6.3.  Market Map (By Vehicle Type, By Region)

7.    Mexico Passenger Car Replacement Tire Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & By Volume

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Category (Hatchback, Sedan and SUV/MPV)

7.2.2.     By Tire Construction Type

7.2.3.     By Sales Channel

7.2.4.     By Rim Size

7.2.5.     By Price Segment

7.3.  Prominent Tire Sizes

7.4.  Market Map (By Vehicle Category)

8.    Mexico LCV Replacement Tire Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & By Volume

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Category (Pickup Truck, Panel Van and Light Bus)

8.2.2.     By Tire Construction Type

8.2.3.     By Sales Channel

8.2.4.     By Rim Size

8.2.5.     By Price Segment

8.3.  Prominent Tire Sizes

8.4.  Market Map (By Vehicle Category)

9.    Mexico Two-Wheeler Replacement Tire Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & By Volume

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Category (Motorcycle and Scooters/Mopeds)

9.2.2.     By Tire Construction Type

9.2.3.     By Sales Channel

9.2.4.     By Rim Size

9.2.5.     By Price Segment

9.3.  Prominent Tire Sizes

9.4.  Market Map (By Vehicle Category)

10.  Mexico M&HCV Replacement Tire Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & By Volume

10.2.              Market Share & Forecast

10.2.1.  By Vehicle Category (Truck, Bus and Heavy Truck)

10.2.2.  By Tire Construction Type

10.2.2.1.      By Vehicle Category (Truck and Bus)

10.2.3.  By Sales Channel

10.2.4.  By Rim Size

10.2.5.  By Price Segment

10.3.              Prominent Tire Sizes

10.4.              Market Map (By Vehicle Category)

11.  Mexico OTR Replacement Tire Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value & By Volume

11.2.              Market Share & Forecast

11.2.1.  By Vehicle Category (Tractors & Harvesters, Dump Trucks/Tipper Trucks, Hauler Trucks, Loader-Dozer-Excavators & Graders; Forklift & Telehandler, Cargo Trucks, Mobile Cranes and Others)

11.2.2.  By Application (Mining, Construction, Industrial, Agriculture, Forestry, Ports, and Others)

11.2.3.  By Tire Construction Type

11.2.4.  By Sales Channel

11.2.5.  By Rim Size

11.2.6.  By Price Segment

11.3.              Prominent Tire Sizes

11.4.              Market Map (By Vehicle Category)

12.  Import - Export Analysis

13.  Market Dynamics

13.1.  Drivers

13.2.  Challenges

14.  Market Trends and Developments

15.  Supply Chain Analysis

16.  List of Prominent Dealers & Distributors

17.  Policy & Regulatory Landscape

18.  Mexico Economic Profile

19.  Competitive Landscape

19.1.    Bridgestone de Mexico SA de CV

19.2.    Industrias Michelin, S.Ade C.V.

19.3.    Hankook Tire de Mexico, S.A de C.V.

19.4.    Goodyear Servicios Comerciales, S.de R.L. de C.V.

19.5.    Pirelli Neumáticos de México, S.A. de C.V

19.6.    Continental Tire de Mexico S.A. de C.V.

19.7.    Yokohama Tire Mexico (YTMX)

19.8.    Nt Mexico S. De R.L. De C.V. (México) (Toyo Tires)

19.9.    Westlake México (Hangzhou Zhongce Rubber Company)

19.10.            JK Tornel, SA de CV

20.  Strategic Recommendations

21.  About Us & Disclaimer

Figures and Tables

Figure 1:           Mexico Replacement Tire Market - Factors Influencing Purchase Decision (N=100)

Figure 2:           Mexico Replacement Tire Market – Aided Brand Recall (N=100)

Figure 3:           Mexico Replacement Tire Market – Unaided Brand Recall (N=100)

Figure 4:           Mexico Replacement Tire Market – Brand Switching (N=100)

Figure 5:           Mexico Replacement Tire Market – Brand Switching Attributes (N=42)

Figure 6:           Mexico Replacement Tire Market - Brand Satisfaction Level, By Lifetime (N=100)

Figure 7:           Mexico Replacement Tire Market - Brand Satisfaction Level, By Traction (N=100)

Figure 8:           Mexico Replacement Tire Market Size, By Value (USD Billion), By Volume (Million Units), 2016-2026F

Figure 9:           Mexico Replacement Tire Market Share, By Vehicle Type, By Volume, 2016–2026F

Figure 10:         Mexico Replacement Tire Market Share, By Tire Construction Type, By Volume, 2016–2026F

Figure 11:         Mexico Replacement Tire Market Share, By Sales Channel, By Volume, 2016–2026F

Figure 12:         Mexico Replacement Tire Market Share, By Price Segment, By Volume, 2016–2026F

Figure 13:         Mexico Replacement Tire Market Share, By Region, By Volume, 2016–2026F

Figure 14:         Mexico Replacement Tire Market Share, By Top Ten Cities, By Volume, 2020

Figure 15:         Mexico Replacement Tire Market Share, By Company, By Volume, 2020

Figure 16:         Mexico Replacement Tire Market Share, By Tier Type, By Volume, 2020

Figure 17:         Mexico Replacement Tire Market Map, By Vehicle Type, on the Basis of Market Size (Million Units) & Growth Rate (%)

            Mexico Replacement Tire Market Map, By Region, on the Basis of Market Size (Million Units) & Growth Rate (%)

Figure 19:         Mexico Passenger Car Replacement Tire Market Size, By Value (USD Billion), By Volume (Million Units), 2016-2026F

Figure 20:         Mexico Passenger Car Sales, By Volume (Million Units), 2016-2020

Figure 21:         Mexico Passenger Car Replacement Tire Market Share, By Vehicle Category, By Volume, 2016–2026F

Figure 22:         Mexico Passenger Car Replacement Tire Market Share, By Tire Construction Type, By Volume, 2016–2026F

Figure 23:         Mexico Passenger Car Replacement Tire Market Share, By Sales Channel, By Volume, 2016–2026F

Figure 24:         Mexico Passenger Car Replacement Tire Market Share, By Rim Size, By Volume, 2016–2026F

Figure 25:         Mexico Passenger Car Replacement Tire Market Share, By Price Segment, By Volume, 2016–2026F

Figure 26:         Mexico Passenger Car Replacement Tire Market Map, By Vehicle Category, on the Basis of Market Size (Million Units) & Growth Rate (%)

Figure 27:         Mexico LCV Replacement Tire Market Size, By Value (USD Billion), By Volume (Million Units), 2016-2026F

Figure 28:         Mexico LCV Replacement Tire Market Share, By Vehicle Category, By Volume, 2016–2026F

Figure 29:         Mexico LCV Replacement Tire Market Share, By Tire Construction Type, By Volume, 2016–2026F

Figure 30:         Mexico LCV Replacement Tire Market Share, By Sales Channel, By Volume, 2016–2026F

Figure 31:         Mexico LCV Replacement Tire Market Share, By Rim Size, By Volume, 2016–2026F

Figure 32:         Mexico LCV Replacement Tire Market Share, By Price Segment, By Volume, 2016–2026F

Figure 33:         Mexico LCV Replacement Tire Market Map, By Vehicle Category, on the Basis of Market Size (Million Units) & Growth Rate (%)

Figure 34:         Mexico Two-Wheeler Replacement Tire Market Size, By Value (USD Billion), By Volume (Million Units), 2016-2026F

Figure 35:         Mexico Two-Wheeler Sales, By Volume (Million Units), 2016-2020

Figure 36:         Mexico Two-Wheeler Replacement Tire Market Share, By Vehicle Category, By Volume, 2016–2026F

Figure 37:         Mexico Two-Wheeler Replacement Tire Market Share, By Tire Construction Type, By Volume, 2016–2026F

Figure 38:         Mexico Two-Wheeler Replacement Tire Market Share, By Sales Channel, By Volume, 2016–2026F

Figure 39:         Mexico Two-Wheeler Replacement Tire Market Share, By Rim Size, By Volume, 2016–2026F

Figure 40:         Mexico Two-Wheeler Replacement Tire Market Share, By Price Segment, By Volume, 2016–2026F

Figure 41:         Mexico Two-Wheeler Replacement Tire Market Map, By Vehicle Category, on the Basis of Market Size (Million Units) & Growth Rate (%)

Figure 42:         Mexico M&HCV Replacement Tire Market Size, By Value (USD Billion), By Volume (Million Units), 2016-2026F

Figure 43:         Mexico Commercial Vehicle Sales, By Volume (Million Units), 2016-2020

Figure 44:         Mexico M&HCV Replacement Tire Market Share, By Vehicle Category, By Volume, 2016–2026F

Figure 45:         Mexico M&HCV Replacement Tire Market Share, By Tire Construction Type, By Volume, 2016–2026F

Figure 46:         Mexico Truck Replacement Tire Market Share, By Tire Construction Type, By Volume, 2016–2026F

Figure 47:         Mexico Bus Replacement Tire Market Share, By Tire Construction Type, By Volume, 2016–2026F

Figure 48:         Mexico M&HCV Replacement Tire Market Share, By Sales Channel, By Volume, 2016–2026F

Figure 49:         Mexico M&HCV Replacement Tire Market Share, By Rim Size, By Volume, 2016–2026F

Figure 50:         Mexico M&HCV Replacement Tire Market Share, By Price Segment, By Volume, 2016–2026F

Figure 51:         Mexico M&HCV Replacement Tire Market Map, By Vehicle Category, on the Basis of Market Size (Million Units) & Growth Rate (%)

Figure 52:         Mexico OTR Replacement Tire Market Size, By Value (USD Billion), By Volume (Million Units), 2016-2026F

Figure 53:         Percentage of Production Units with Their Own Machinery in Mexico, By Type, 2019

Figure 54:         Mexico OTR Replacement Tire Market Share, By Vehicle Category, By Volume, 2016–2026F

Figure 55:         Mexico OTR Replacement Tire Market Share, By Application, By Volume, 2016–2026F

Figure 56:         Mexico OTR Replacement Tire Market Share, By Tire Construction Type, By Volume, 2016–2026F

Figure 57:         Mexico OTR Replacement Tire Market Share, By Sales Channel, By Volume, 2016–2026F

Figure 58:         Mexico OTR Replacement Tire Market Share, By Rim Size, By Volume, 2016–2026F

Figure 59:         Mexico OTR Replacement Tire Market Share, By Price Segment, By Volume, 2016–2026F

Figure 60:         Mexico OTR Replacement Tire Market Map, By Application, on the Basis of Market Size (Million Units) & Growth Rate (%)

Figure 61:         Mexico Passenger Car Tire Imports, By Value (USD Million), 2015-2020

Figure 62:         Mexico Passenger Car Tire Exports, By Value (USD Million), 2015-2020

Figure 63:         Mexico Two-Wheeler Tire Imports, By Value (USD Million), 2015-2020

Figure 64:         Mexico Two-Wheeler Tire Exports, By Value (USD Thousand), 2015-2020

Figure 65:         Mexico Commercial Vehicle Tire Imports, By Value (USD Million), 2015-2020

Figure 66:         Mexico Commercial Vehicle Tire Exports, By Value (USD Million), 2015-2020

 

List of Tables:

 

Table 1:            Mexico Prominent Passenger Car Tire Sizes, 2020

Table 2:            Top Selling Five Pick-Up Truck Models in Mexico, 2020

Table 3:            Mexico Prominent LCV Tire Sizes, 2020

Table 4:            Mexico Prominent Two-Wheeler Tire Sizes, 2020

Table 5:            Mexico Prominent M&HCV Tire Sizes, 2020

Table 6:            Mexico Prominent OTR Tire Sizes, 2020

Table 7:            List of Prominent Tire Dealers in Mexico, 2021

 

Frequently asked questions

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Passenger car segment of vehicle type have the most demand of replacement tires in Mexico.

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Radial tire construction type generates the most demand, but its counterpart radial tire penetration in the replacement market is gaining momentum across the country.

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Due to the growing demand for passenger cars in Central México, the region witnessed the highest sales of replacement tires in 2020 by volume and the same is expected in the forecast years as well

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Bridgestone de México, SA de CV and Industrias Michelin, S.A de C.V. are the major market leaders in the replacement market of Mexico, with both the companies collectively accounting for around 30% market share in Mexico replacement tire market. These companies have their distributor & dealer network widely spread across the country and are generating good revenue as compared to other companies operating in the country.

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Srishti Verma

Business Consultant
Press Release

Mexico Replacement Tire Market to Grow at 5.94% CAGR by 2026

Sep, 2021

Growing automotive fleet size and high tire replacement ratio are expected to drive the Mexico replacement tire market through 2026.

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