Exploring Canada Tire Market: Rising Trends, Opportunities and Challenges Forecast 2030

MarkNtel Advisors – Leading Market Research Company found Canada Tire Market is expected to reach 2.4% CAGR Growth By 2030.

This report provides a comprehensive analysis of the Canada Tire Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.

Comprehensive Analysis of the Canada Tire Market

Base Year: 2023

Forecast Years: 2024-2030

Historical Years: 2019-2022

If you’re interested in the assumptions considered in this study, you can download the PDF brochure-  – https://www.marknteladvisors.com/query/request-sample/canada-tire-market-analysis.html

Scope of the Canada Tire Market Report:

The Canada Tire Market size is valued at USD 5.1 billion in 2023 & is estimated to grow at a CAGR of around 2.4% during the forecast period, i.e., 2024-30. The market has a great influence on the sales of vehicles in the country. Back in 2019, the automotive industry witnessed substantial growth in terms of vehicle sales. However, with the Covid-19 pandemic in 2020, the market underwent a downfall. However, vehicle sales are reviving swiftly & have been displaying persistent growth since 2021, which, in turn, is augmenting the demand for tires across the country.

In addition, the coming years are likely to demonstrate an upscale in the sales of vehicles, which would directly impact the tyre market. The growing penetration of online channels & rapid digitalization is further instigating tire manufacturers to increase their production & import capabilities to deliver an extensive range of tires & meet the mounting consumer demand across the country. 

Moreover, the increasing inclination of Canadians toward the adoption of Electric Vehicles (EVs) owing to the rising concerns over environmental degradation is another crucial aspect anticipated to contribute significantly to the soaring demand for tires in the country and boost the market over the forecast years.

Which prominent factor is expected to drive the Canada Tire Market during 2024-30?

Stringent Norms Associated with Vehicle Safety – With an escalating number of road accidents, the Canadian government is encouraging automakers to manufacture tires with utmost safety while urging vehicle owners to replace tires timely and have periodic inspections on their conditions to ensure vehicle & passenger safety at all times. These aspects are likely to instigate the leading companies in the Canada Tire Market to introduce new products and enhance their overall product portfolio while delivering safer tires to the customers.

What are the different Segment Available in the Canada Tire Market?

By Type of Vehicles

• Passenger Car
• Light Commercial Vehicle
• Buses and Trucks
• Medium and Heavy Commercial Vehicles
• Off the Road (OTR)
• Two Wheelers

By Demand Category

• OEM
• Replacement

By Type of Tire

• Radial
• Bias

By Sales Channel

• Dealer/Exclusive Outlets
• Online
• Direct Sales

By Season

• All season
• Summer
• Winter

By Price Category

• Budget (Up to USD90)
• Economy (USD91-USD140
• Premium (Above USD140)

By Rim Diameter

• Up to 12”
• 1” to 15”
• ” to 18”
• 1” to 20”
• 1” to 22.5”
• 6” to 26”
• 1” to 35”
• 1” to 47”
• Above 47”

By Region

• West
• North
• South
• East.

Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/canada-tire-market-analysis.html

Leading Canada Tire companies operating in the Market

• Continental Tire Canada
• Bridgestone Canada (BSCA)
• Yokohama Tire (Canada)
• Hankook Tire Canada
• Goodyear Canada
• Michelin North America (Canada)
• Kumho Tire Canada
• Pirelli Tire
• Toyo Tire Canada.

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