Canada Tyre Market Forecast and Opportunities, 2020

(Before It's News)

Canada, a developed economy, ranks 11th globally, in terms of GDP. Provinces of Ontario, Quebec and British Columbia are the prominent commercial destinations in the country. Canada is one of the wealthiest nations of the world, having trade relations with USA, China, the United Kingdom, Japan and many other emerging nations. With a population of over 35 million, the country maintains a large vehicle fleet which has been exhibiting a growing trend. Developed urban areas and improved roadways, along with high per capita income have served as catalysts for expansion of automobile market in the country and hence for the automotive tyre industry. In view of the global issue of C-emissions and C-credits, sales of hybrid vehicles is increasing in the country, wherein manufacturing giants like Ford, Mitsubishi and Toyota are entering the market with their hybrid variants, thus generating demand for high performance tyres in OEM as well as replacement market.

According to “Canada Tyre Market Forecast & Opportunities, 2020”, Canada tyre market is forecast to increase at a CAGR of around 6% till 2020. Large vehicle fleet and growing hybrid vehicle sales would be the major factors driving Canada tyre market over the forecast period. Passenger car tyre market is the dominant segment followed by commercial vehicle tyre segment and two-wheelers tyre segment. Further, the replacement tyre segment leads OEM tyre segment by huge margins and it is anticipated that this trend will continue through the forecast period. Michelin, Goodyear and Bridgestone have domestic production facilities in the country, while all other players cater to the growing demand for tyres through their sales and marketing offices in Canada. Michelin, Hankook, Goodyear and Bridgestone are leading players in Canada tyre market. “Canada Tyre Market Forecast and Opportunities, 2020” discusses the following aspects:

• Canada Tyre Market Size, Share & Forecast
• Segmental Analysis – Passenger Car Tyres, Commercial Vehicle Tyres, Two-wheeler Tyres & OTR Tyres
• Import & Export Analysis
• Policy & Regulatory Landscape
• Changing Market Trends & Emerging Opportunities
• Competitive Landscape & Strategic Recommendations

For more info : Canada Tyre Market Forecast and Opportunities, 2020

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