The Brazil tire market is expected to register a modest growth at a CAGR of 3.4% during the forecast period (2020-2026). Fluctuating vehicle sales will impact the growth of the Brazil tire industry. In 2012, the Brazil automotive market was the fourth largest market globally with a volume of 3.8 million vehicle sales as per the OICA. However, vehicle sales started falling and reached a low of 2.0 vehicle sales in 2016. After 2016, a positive trend was witnessed in the country, and in 2019 vehicle sales reached around 2.8 million. The country was among the few major automotive market to witness positive growth in vehicle sales all across the globe. 

Before the COVID-19 pandemic, the country was witnessing flat automate sales. However, after the COVID-19 pandemic, a steep downfall in the vehicle as well as tire sales has been witnessed in the country. By October 2020, the country has the highest number of COVID-19 cases after the US and India. However, the country witnesses a new opportunity for the tire players due to its export opportunities. Suppliers from the country’s neighbor Argentina is shifting to Brazil. It is due to the high inflation and interest rate in Argentina. Till July 2020, three companies’ major global companies have been shifted a large part of their operations to Brazil from Argentina. These companies include BASF, Axalta, and Saint-Gobain. New manufacturing unit from the automakers are expected to provide a considerable growth to the market. 

Brazil's tire market is segmented based on vehicle type, road application, construction, tire type, and sales channel. By vehicle type, the market is further segmented into passenger cars, light & medium commercial vehicles, heavy commercial vehicles, two-wheeler, and other. Passenger cars are expected to maintain a major market share during the forecast period. By the sales channel, the market is bifurcated into OEM and after-sales. Aftersales will have the major market share during the forecast period. 

Some of the key players of the Brazil tire market include Pirelli & C. S.p.A., Sumitomo Rubber Industries Ltd., Michelin Group, Goodyear Tire and Rubber Co., Cooper Tire & Rubber Co., Trelleborg AB among others. The market players are significantly contributing to the market growth by adopting various strategies including mergers, & acquisitions, collaborations, new product launch, and geographical expansion, to stay competitive in the market. 

Research Methodology

The market study of the Brazil tire market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts as to bring more authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for tire manufacturers & distributors, automakers, auto-ancillary companies, start-ups, venture capitalists, seed funders, research organizations, and other related organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. Brazil Tire Market Research and Analysis by Vehicle Type
2. Brazil Tire Market Research and Analysis by Road Application 
3. Brazil Tire Market Research and Analysis by Construction
4. Brazil Tire Market Research and Analysis by Tire Type
5. Brazil Tire Market Research and Analysis by Sales Channel

The Report Covers

• Comprehensive research methodology of the Brazil Tire market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Brazil Tire industry.
• Insights about market determinants which are stimulating the Brazil Tire market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.