Brazil Tire Market

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Brazil Tire Market
Brazil Tire Market
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Brazil Tire Market
According to the report by Renub Research, titled
Brazil Tire Market, Size, Forecast 2022-2027,
Industry Trends, Share, Growth, Impact of
COVID-19, Opportunity Company Analysis the
Brazil Tire Market Size reached US 6.29 Billion
in 2021. Brazil is home to one of the most
pre-eminent automotive markets, including tire is
the significant component of a vehicle
interacting with the road. In terms of annual new
registrations, the characteristics of tires
mainly influence the performance of a vehicle.
Tires affect a vehicle's traction, handling, ride
comfort, and fuel consumption. A tire is a
ring-shaped component surrounding a wheel's rim
to transfer the vehicle's weight from the axle
into the wheel to the ground and provide traction
on the surface. In addition, the sales of tires
have increased significantly over the years in
Brazil, owing to a rise in the various types of
automotive racing competitions, which serves as a
major driver for the high-performance and
ultra-high-performance tires business in Brazil.
As per our research findings in 2020, Brazil
ranks as the sixth-largest automobile market
globally, with more than 38 Million automobiles
in circulation in Brazil.
Brazil Tire Market
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Brazil Tire Market
Growth in Demand for 15-20 Inches Tires due to
Rising Preference for SUVs Bigger Cars Based
on distribution channels, Brazil tire industry is
segmented into OEM, Aftermarket and Sales. An OEM
distribution channel is used as a platform of
brand loyalty exhibited by OEMs and vehicle
teams, which replace tires on their cars with the
same brand as initially installed. Brazil has
shown a strong demand for tires due to many OEM
such as BMW, Volkswagen, Ferrari, Daimler, and
Renault. These OEM regularly engage in
motorsports events held in the continent and
showcase their modern line of innovative outputs
that cater to customers' need for cleaner, safe
and cost-effective vehicles and
components. Notwithstanding, tires in the
aftermarket are mainly attributed to the faster
wear and tear of softer rubber tires required to
perform at extremely high speeds vehicles,
boosting the aftermarket demand for tires in
Brazil. Vendors are spending in marketing to
improve their visibility as brands, especially to
tap the productive aftermarket of the
high-performance and ultra-high-performance tire.
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Brazil Tire Market
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Brazil Tire Market
Moreover, rim width and tire width are two
closely related sizes such for lt 15 inches, 15 -
20 inches and gt20 inches is usually used in
vehicles. In Brazil, many cars generally comprise
15-inch tires due to the rapid increase in
innovative wheels with great rim sizes. For
instance, models such as Volkswagen Polo, Hyundai
Avante, VW Rapid, Hyundai Accent, and others are
equipped with 15 rim size tires. Thus, the
15-inch type is greatly preferred by the
customers to reduce carbon emissions and save
fuels. Brazil Tire Industry is predicted to grow
with a CAGR of 6.25 from 2021 to 2027 On the
basis of vehicle type, the Brazil tire market
includes Passenger Cars, Commercial Vehicles,
Electric Vehicles and Luxury/Premium Vehicles. A
commercial vehicle is rising across Brazil due to
its low maintenance cost, operating cost, and
more fuel-efficient than the Heavy Commercial
Vehicle (HCV). As the commercial vehicles have
more extended running with heavy loads, it leads
to heavy wear and tear of tires. Although, there
is an increasing demand for passenger cars in
Brazil South and South East region due to the
hallmarks of all-season passenger car tires are a
comfortable ride, year-round readiness and long
tread life.
Brazil Tire Market
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Brazil Tire Market
Explosive fuel prices and the transportation
infrastructure also tend to influence to purchase
of passenger cars in South and South-East
regions. Further, Brazil South and South East
region makes up a small global electric vehicle
market slab. JAC, Jaguar and BMW, also ranked
amongst the leading electric vehicle brands in
Brazil. Covid-19 Impact on Brazil Tyre
Industry The raging COVID-19 pandemic across
Brazil has made a drastic impact on the tire
industry. The sales of tires have decreased
steeply owing to the prolonged lockdown and
variation in the investment budget. Also, the
interruption in the import and export trades and
shut down of manufacturing companies have emerged
in the rise of raw material prices, consequently
hindering the production capacities of the tire.
Thus, the deterioration in tire selling is to
restrict the industry amid corona virus in Brazil.
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Brazil Tire Market
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Brazil Tire Market

• Brazil's prominent tire manufacturers include
  Bridgestone Americas Tire, The Goodyear Tire
  Rubber Company, Continental AG, Nokian Tires plc,
  and Toyo Tires. These companies produce a wide
  range of tires and including innovative
  technology, multiple benefits, high quality,
  all-weather reliability, and affordable tires to
  their consumers across Brazil. For instance, in
  2020, Goodyear launched a self-recharging design
  to develop the life of tires and make them highly
  versatile to different weather conditions.
• Market Summary
• Distribution Channel - We have covered by
  Distribution Channel in the Brazil Tire Market
  breakup by 3 viewpoints (OEM, Aftermarket and
  Sales)
• Rim Size - Our Report covers by Rim Size in the
  Brazil Tire Market breakup by 3 viewpoints (15
  inches, 15 - 20 inches and gt20 inches)
• Season - Renub Research Report covers by season
  Brazil Tire Market breakup by 3 viewpoints
  (summer, winter and All Season)

Brazil Tire Market
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Brazil Tire Market

• Vehicle - This Report covers by vehicle in the
  Brazil tire market breakup by 4 viewpoints
  (Passenger Cars, Commercial Vehicles, Electric
  Vehicles and Luxury/Premium Vehicle)
• Region - Report covers by Region in the Brazil
  tire market breakup by 5 viewpoints (South East,
  South, North East, Mid- west, North)
• All the key players have been covered from 3
  Viewpoints (Overview, Recent Development, and
  Revenue) Bridgestone Americas Tire, The Goodyear
  Tire Rubber Company, Continental AG, Nokian
  Tires plc, and Toyo Tires

Brazil Tire Market
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Brazil Tire Market
Brazil Tire Market
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Brazil Tire Market