Canada Tire Market Overview and Insights:

According to MarkNtel Advisors Report, the Canada Tire Market projected to grow at a CAGR of around 2.4% during the forecast period, i.e., 2024-30.

Canada Tire Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Time Period Captured in the Report:

 Historical Years: 2019-22

  Base Years: 2023

  Forecast Years: 2024-30

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Canada Tire Market Driver:

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.

Who are the Key Players Operating in the Canada Tire Industry?

The top companies of the Canada Tire market ruling the industry are: 

• 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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What is Included in Canada Tire Market Segmentation?

The report has segmented the market into the following categories:

-By Type of Tire

• Radial
• Bias

among all, Radial Tires dominated the Canada Tire Market with the largest share in recent years. The surging number of industrial projects leading to the escalating sales of heavy vehicles is the prime aspect driving the demand for radial tires. These vehicles require robust grip, low rolling resistance, minimal vibrations, & enhanced stability on different terrains, to which radial tires are the preferred choice.

Radial tires offer various advantages like low rolling resistance, reduced fuel consumption, high performance, & safer ride, among others. As a result, their demand is anticipated to expand significantly for heavy-duty trucks. Moreover, the rapidly growing transportation & logistics sector shall also boost the adoption of radial tires to facilitate convenience in transportation. Furthermore, since the government of Canada is encouraging the use of public transportation to reduce traffic congestion & carbon emissions, the production & sales of commercial vehicles are swiftly increasing and positively influencing the demand for radial tires in the canada.

-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 Sales Channel

• Dealer/Exclusive Outlets
• Online
• Direct Sales

Geographical Analysis

-By Region

• West
• North
• South
• East

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For Further Queries:

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry?
4. How has the industry been evolving in terms of geography and product adoption?
5. How has the competition been shaping up across various regions?

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