Canada Tire Market Growth, Size, Trends, Demand, Share, Competition and Future Outlook
Canada Tire Market Size- By Source, By Vehicle Type, By Demand Category, By Type of Tires, By Sales Channel, By Tube Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2024 | Report ID: AMIN24154 | Pages: 1 - 105 | Formats*: |
| Category : Automotive & Transportation | |||
Canada Tire Market Introduction and Overview
According to SPER Market Research, the Canada Tire Market is estimated to reach USD 10.07 billion by 2033 with a CAGR 5.57%.
The report includes an in-depth analysis of the Canada Tire Market, including market size and trends, product mix, distribution channels, and supplier analysis. The circular, rubber-based car tire is used to cover the wheel rim on the outside. The main function of the tire is to protect the wheel rim and create tractive force between the vehicle and the road surface. It also provides a flexible cushion due to its rubber construction, lessening the effect of vibrations and absorbing stress from vehicles. Rubber tires consist of tread, beading, jointless cap pile, and other materials such as cloth, carbon black, and synthetic rubber.
- Leading companies Bridgestone and Micheline jointly predicted in November 2021 a view on cutting the tire industry's dependency on petrochemicals while boosting the use of recovered carbon black in tire manufacture.
- Bridgestone stated in October 2018 that it was making modifications to its Passenger & Light Truck tire manufacturing facility in Joliette, Québec, Canada. Among the improvements was the construction of an automated warehouse to achieve enhanced operating efficiency & production capacities.
Market Opportunities and Challenges
Opportunities: As Canadian winters are typically harsh and snowy, the use of winter tires has increased during the worst months because they offer superior traction on icy and snowy surfaces. Therefore, in an effort to improve safety and lower the frequency of traffic incidents in the nation, the Canadian government is promoting the use of these tires. Winter tires also offer improved vehicle control because they are designed to function in colder climates. They also have superior braking, traction, and turning grip. As a result, winter tires are becoming increasingly popular throughout Canada. Furthermore, The country's emerging regions are expected to have a sharp increase in automobile demand in the coming years due to urbanization and heightened industrial activity. The increasing demand for autos is prompting manufacturers to expand their presence in these countries and build production facilities at a rapid pace. Growing GDP, expanded consumer spending, and supportive government policies are some of the reasons driving up automobile production in developing countries.
Challenges: The expansion of the Canadian tire market is expected to be limited in the upcoming years due to the tire and automotive sectors' heavy reliance on raw resources like rubber and crude oil. Price volatility is a major factor that could hinder market expansion in the next years. It is causing the nation to produce fewer tires, which is growing the gaps between supply and demand. Every one of these elements limits the market's expansion.
Market Competitive Landscape
The existence of multiple manufacturing companies in Canada has resulted in a highly fragmented tire market. The market leaders continue to rule because they invest in R&D, integrate cutting-edge technology into their products, and provide customers with improved things. The top participants in the Canadian tire industry include Pirelli Tire Inc., Kumho Tire Canada, Hankook Tire Canada Corporation, Continental AG, Goodyear Canada Inc., and Bridgestone Canada.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Vehicle Type, By Demand Category, By Type of Tires, By Sales Channel, By Tube Type |
| Regions covered | Eastern, Western, Southern, Northern |
| Companies Covered | Pirelli Tire Inc., Kumho Tire Canada, Hankook Tire Canada Corporation, Continental AG, Goodyear Canada Inc., and Bridgestone Canada. |
COVID-19 Impact on Canada Tire Market
In 2020, the automotive industry and the Canadian tire market both experienced slowdowns because to the Covid-19 pandemic. The challenges and issues surrounding their import were unknown because sales of both passenger and commercial vehicles, as well as the delivery of goods like tires, dropped sharply. Throughout the crisis, the leading market players suffered large income losses due to a variety of issues, including reduced manufacturing capacity caused by declining automobile sales, a shortage of raw materials, fluctuating prices, travel restrictions, and production and delivery delays. Nonetheless, the declining number of Covid-19 cases compelled the government to relax the restrictions and allow the resumption of commercial activities.
Key Target Audience:
- Automobile Manufacturers
- Aftermarket Retailers
- Fleet Operators
- Individual Consumers
- Commercial Vehicle Owners
- Government and Public Sector
- Tire Dealers and Service Providers
- Tire Manufacturers
Our in-depth analysis of the Canada Tire Market includes the following segments:
| By Vehicle Type: |
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| By Demand Category: |
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| By Type of Tires: |
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| By Sales Channel: |
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| By Tube Type: |
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Key Topics Covered in the Report:
- Canada Tire Market Size (FY'2024-FY'2033)
- Overview of Canada Tire Market
- Segmentation of Canada Tire Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium And Heavy Commercial Vehicles, Off The Road, Two Wheelers)
- Segmentation of Canada Tire Market By Demand Category (OEM, Replacement)
- Segmentation of Canada Tire Market By Type of Tires (Radial, Bias)
- Segmentation of Canada Tire Market By Sales Channel (Dealer/Exclusive Outlets, Online, Others)
- Segmentation of Canada Tire Market By Tube Type (Tube, Tubeless)
- Expansion Analysis of Canada Tire Market
- Problems and Obstacles in Canada Tire Market
- Competitive Landscape in the Canada Tire Market
- Impact of COVID-19 and Demonetization on Canada Tire Market
- Details on Current Investment in Canada Tire Market
- Competitive Analysis of Canada Tire Market
- Prominent Players in the Canada Tire Market
- SWOT Analysis of Canada Tire Market
- Canada Tire Market Future Outlook and Projections (FY'2024-FY'2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Canada Tire Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Canada Tire Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Canada Tire Market
7. Canada Tire Market, By Vehicle Type (USD Million) 2020-2033
7.1. Canada Tire Market Size, Share and Forecast, By Vehicle Type, 2020-20267.2. Canada Tire Market Size, Share and Forecast, By Vehicle Type, 2027-20337.3. Passenger Car7.4. Light Commercial Vehicle7.5. Medium And Heavy Commercial Vehicles7.6. Off The Road (OTR)7.7. Two Wheelers
8. Canada Tire Market, By Demand Category (USD Million) 2020-2033
8.1. Canada Tire Market Size, Share and Forecast, By Demand Category, 2020-20268.2. Canada Tire Market Size, Share and Forecast, By Demand Category, 2027-20338.3. OEM8.4. Replacement
9. Canada Tire Market, By Type of Tires (USD Million) 2020-2033
9.1. Canada Tire Market Size, Share and Forecast, By Type of Tires, 2020-20269.2. Canada Tire Market Size, Share and Forecast, By Type of Tires, 2027-20339.3. Radial9.4. Bias
10. Canada Tire Market, By Sales Channel (USD Million) 2020-2033
10.1. Canada Tire Market Size, Share and Forecast, By Sales Channel, 2020-202610.2. Canada Tire Market Size, Share and Forecast, By Sales Channel, 2027-203310.3. Dealer/Exclusive Outlets10.4. Online10.5. Others
11. Canada Tire Market, By Tube Type (USD Million) 2020-2033
11.1. Canada Tire Market Size, Share and Forecast, By Tube Type, 2020-202611.2. Canada Tire Market Size, Share and Forecast, By Tube Type, 2027-203311.3. Tube11.4. Tubeless
12. Canada Tire Market Forecast, 2020-2033 (USD Million)
12.1. Canada Tire Market Size and Market Share
13. Canada Tire Market, By Region, 2020-2033 (USD Million)
13.1. Canada Tire Market Size and Market Share By Region (2020-2026)13.2. Canada Tire Market Size and Market Share By Region (2027-2033)13.3. Eastern Region13.4. Western Region13.5. Southern Region13.6. Northern Region
14. Company Profile
14.1. Bridgestone Canada
14.1.1. Company details14.1.2. Financial outlook14.1.3. Product summary14.1.4. Recent developments
14.2. Continental AG
14.2.1. Company details14.2.2. Financial outlook14.2.3. Product summary14.2.4. Recent developments
14.3. Goodyear Canada Inc
14.3.1. Company details14.3.2. Financial outlook14.3.3. Product summary14.3.4. Recent developments
14.4. Hankook Tire Canada Corporation
14.4.1. Company details14.4.2. Financial outlook14.4.3. Product summary14.4.4. Recent developments
14.5. Kumho Tire Canada
14.5.1. Company details14.5.2. Financial outlook14.5.3. Product summary14.5.4. Recent developments
14.6. Pirelli Tire Inc
14.6.1. Company details14.6.2. Financial outlook14.6.3. Product summary14.6.4. Recent developments
15. Conclusion
16. Reference Links
17. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Canada Tire Market is projected to reach USD 10.07 billion by 2033, growing at a CAGR of 5.57% during the forecast period.
Canada Tire Market grew in Market size from 2024. The Market is expected to reach USD 10.07 billion by 2033, at a CAGR of 5.57% during the forecast period.
Canada Tire Market CAGR of 5.57% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Canada Tire Market size is USD 10.07 billion from 2024 to 2033.
Canada Tire Market Segment is covered By Vehicle Type, By Demand Category, By Type of Tires, By Sales Channel, By Tube Type.
The North America is anticipated to have the highest Market share in the Canada Tire Market.
The key players in the Market include Companies Covered Pirelli Tire Inc., Kumho Tire Canada, Hankook Tire Canada Corporation, Continental AG, Goodyear Canada Inc., and Bridgestone Canada.
The main function of the tire is to protect the wheel rim and create tractive force between the vehicle and the road surface.
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