Canada Tire Market Trends: Predicted 2% CAGR by 2027, Assessing Size, Share, Demand, and Competitive Analysis

MarkNtel Advisors has recently published "Canada Tire Market Analysis Share, Growth, Demand, Forecast  2027," a comprehensive research report that provides in-depth analysis of various factors driving the industry's growth across different geographic regions. This report offers reliable insights into the historical, current, and projected trends, in the Canada Tire Market, presented through detailed explanations, tables, and figures. It equips stakeholders with valuable knowledge of the industry dynamics, enabling them to strategize effectively before making investment decisions.

The report indicates that the Canada Tire Market is anticipated to experience a CAGR of approximately 2% during the period of 2022-2027. Our analysis encompasses a thorough examination of various environmental factors, economic and social issues, technological advancements, and other relevant aspects that are crucial for stakeholders during decision-making processes. In order to provide a reliable, accurate, and comprehensive understanding of the industry, our analysts have conducted extensive research utilizing tools such as SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and Porter's Five Forces Analysis.

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Market Dynamics

Key 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 players in the Canada Tire Market to introduce new products and enhance their overall product portfolio while delivering safer tires to the customers.

Recent Developments

·        In November 2021, leading players Bridgestone & Micheline projected a joint perspective on increasing the utilization of recovered carbon black in tire manufacturing while reducing the reliance of the tire industry on petrochemicals.

·        In October 2018, Bridgestone announced investments in its Canadian tire plant (Passenger & Light Truck tire manufacturing facility in Joliette, Québec) to construct an automated warehouse to achieve enhanced operational efficiency & production capabilities. This automated warehouse would help the company in sufficing the burgeoning requirements of tire dealers & customers across the country.

Segmenting Success: Unveiling Opportunities in the Canada Tire Market 2022-2027

The Canada Tire Market, characterized by its fragmented nature and numerous subdivisions, is thoroughly examined in the report. We provide detailed insights on each segment and geographical location, empowering stakeholders and industry leaders to comprehend the market dynamics and devise new strategies and investments. Furthermore, by gaining a deeper understanding of the ebb and flow within each segment, investors can make well-informed decisions and expand their production and revenue streams in the coming years. The report focuses on key market dynamics, including recent developments, trends, demand and supply chain analysis, purchase patterns, and product/service pricing, among others, within the following segments:

Based on Type of Vehicles

- Passenger Car

- Light Commercial Vehicle

- Buses and Trucks

- Medium and Heavy Commercial Vehicles

- Off the Road (OTR)

- Two Wheelers

Based on Demand Category

- OEM

- Replacement

Based on Type of Tire

- Radial

- Bias

Based on Sales Channel

- Dealer/Exclusive Outlets

- Online

- Direct Sales

Based on Season

- All season

- Summer

- Winter

Based on Price Category

- Budget(Up to USD90)

- Economy(USD91-USD140)

- Premium(Above USD140)

Based on Rim Diameter

- Upto 12”

- 12.1” to 15”

- 15.1.” to 18”

- 18.1” to 20”

- 20.1” to 22.5”

- 22.6” to 26”

- 26.1” to 35”

- 35.1” to 47”

- Above 47”

Geographically, the Canada Tire Market expands across the following:

- West

- North

- South

- East

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Unveiling the Competitive Landscape: Insights into Key Players in the Canada Tire Market 2022-2027

The report provides a comprehensive competitive analysis, highlighting a key aspect of the industry—the existing players. Each player is extensively profiled, covering vital aspects such as business overview, demand and supply chain, key strategies, latest news, product launches, pricing catalog, recent developments, revenue generation, stakes and investments, and trends. These insights aim to assist stakeholders in diversifying and strategizing their investments and participation in the Canada Tire Market, ultimately seeking substantial revenue generation over the forecasted years.

- 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

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals. Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

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