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Brazil Automotive Tire Market Boom in Near Future!

Allied Market Research

Brazil Automotive Tire Market

Surge in automotive production across several segments, advanced technology in the manufacturing activities drive the demand for Brazil automotive tire market.

PORTLAND, OR, UNITED STATES, November 25, 2020 /EINPresswire.com/ -- Brazil Automotive Tire Market 2020-2030: Surge in automotive production & sales across several segments, rise in competition among tire producers, and emergence of advanced technology in the manufacturing activities drive the demand for Brazil automotive tire market. However, the prolonged lockdown in different regions has disrupted supply chain and enforced manufacturers to shut down R&D activities for stopping the spread of the coronavirus.

As per the report published by Allied Market Research, the Brazil automotive tire market was pegged at $1.87 billion in 2019, and is anticipated to reach $2.05 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027.

Increase in automotive production & sales across several verticals, surge in competition among tire manufacturers, and advent of advanced technology in the manufacturing process have boosted the demand for Brazil automotive tire market. However, fluctuating prices of raw materials and emergence of the retreading tires market hamper the market growth. On the contrary, advancements in technology to address concerns related to fuel efficiency and safety would open new opportunities in the future.

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Covid-19 scenario:

The prolonged lockdown across various countries has disrupted the supply chain and forced government to shut down R&D activities to curb the spread of the infection.
The Covid-19 pandemic has led to the shutdown of manufacturing factories, dearth of skilled labor, and decline in sale of automotive.
Since the pandemic, the world is suffering economic turbulence, which decreased new investments in projects for production.

Get detailed COVID-19 impact analysis on the Brazil Automotive Tire Market Request Here!

The Brazil automotive tire market is segmented on the basis of season type, rim size, vehicle type, and distribution channel. Based on season type, the market is categorized into summer, winter and all-season. On the basis of rim size, the market is classified into less than 15-inch, 15-20 inch and more than 20 inches. The 15 to 20-inch segment is projected to portray the highest CAGR of 6.3% during the forecast period. However, the more than 20 inches segment held the largest share in 2019, contributing to nearly half of the market.

Based on vehicle type, the market is divided into passenger cars, commercial vehicles, and electric vehicles. The electric vehicles segment is anticipated to manifest the highest CAGR of 12.2% during the forecast period. However, the passenger cars segment held the largest share in 2019, accounting for more than half of the total revenue.

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On the basis of distribution channel, the market is categorized into original equipment manufacturers (OEMs), aftermarket, and online sales. The aftermarket segment held the lion’s share in 2019, accounting for more than half of the market. However, the online sales segment is projected to register the highest CAGR of 6.7% during the forecast period.

The Brazil automotive tire market report includes an in-depth analysis of the major market players such as Bridgestone Corporation, The Goodyear Tire & Rubber Company, Maxxis International, Nokian Tyres plc., Sumitomo Rubber Industries Ltd., Toyo Tire Corporation, Continental AG, Hankook Tire & Technology Co., Ltd., MICHELIN, Pirelli Tyre C. S.p.A. (China National Chemical Corporation), and The Yokohama Rubber Co., Ltd.

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Similar Reports We Have on Automotive & Transportation Industry:

Automotive Tire Market by Season Type (Summer, Winter, and All Season), Vehicle Type (Passenger Car, Commercial Vehicle, and Electric Vehicle), Rim Size (Less than 15 Inch, 15 to 20 Inch, and More than 20 Inch), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2027.

Aircraft Tires Market by Type (Bias and Radial), Supplier (Original Equipment Manufacturers & Maintenance, Repair & Overhaul, and Aftermarket), and End User (Commercial Aircrafts, Military Aircrafts, Helicopters, and Spacecraft): Global Opportunity Analysis and Industry Forecast, 2019–2026.

Advanced Tires Market by Material Type (Natural Rubber, Synthetic Rubber, Steel, Elastomers, and Others), Type (Pneumatic Tires, Run Flat Tires, Airless Tires, and Others), Technology (Chip Embedded Tires, Self-Inflating Tires, Multi Chamber Tires, All In One Tires, and Others), and Vehicle Type (Light Duty Vehicles, Heavy Duty Vehicle, Agricultural Tractors, Construction & Mining Equipment, and Industrial Equipment): Global Opportunity Analysis and Industry Forecast, 2020–2030.

ATV-UTV Tire Market by Type (Racing Tires, Sand Tires, Mud Tires, and All Terrain Tires), Application (All-Terrain Vehicle (ATV) and Utility Terrain Vehicle (UTV)), and Industry Vertical (Agriculture, Military, Mountaineering, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026.

Off-the-Road Tire Market by Product (Radial Tires, Bias Tires and Non-Pneumatic Tires), Vehicle Type (Earthmovers, Loader & Dozers, Graders, Material Handling Equipment and Tractors & Agricultural Equipment), End-Users (Construction, Industrial, Mining, Agriculture, Ports and Other), Target Market (Original Equipment manufacturers (OEMs) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2027.

About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

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