Mexico Tire Market Research Report – 2024 Outlook, Trends, Share, Size & Forecast

MarkNtel Advisors has released an in-depth report on the Mexico Tire Market, offering critical insights into the market's size, growth, trend, projections, and emerging dynamics. This report delivers a comprehensive analysis of growth opportunities, competitive landscape, technological developments, and evolving consumer demands—equipping industry stakeholders with the data necessary to make informed decisions.

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Mexico Tire Market Trend

Expansion of Electric Vehicle Manufacturing – In Mexico, the government has been showcasing its increased inclination towards a green economy, and in line with this, the government is providing tax reductions and other financial benefits for electric vehicle manufacturers. Moreover, there is growing demand for electric vehicles in the North American region, due to supportive regulatory measures and environmental concerns. Owing to this, many EV manufacturers are establishing production facilities in Mexico to serve both local and international markets. For instance:

• In 2024, Chinese electric vehicle manufacturer, BYD Co Ltd announced to set up a new electric vehicle (EV) factory in Mexico.

As EV manufacturers are growing in the country, the demand for tires optimized for specific EV models, that ensure performance and efficiency is growing.  Hence, the growth of electric vehicle (EV) manufacturing plants is setting a new trend in the demand for tires.

Leading Companies and Competitive Landscape of Mexico Tire Market

The competitive landscape of the Mexico Tire Market is shaped by both top giants and emerging players. These companies are actively involved in product launches, mergers & acquisitions, and geographical expansions to support their market presence.

Key Market Players Include:

• Bridgestone Corporation
• Goodyear Tire and Rubber Company
• Michelin
• Continental AG
• Hankook Tire and Technology
• Yokohama Rubber Co. Ltd.
• Cooper Tire Rubber Company
• Pirelli Tyre S.p.A
• Sumitomo Rubber Industries
• Toyo Tire Corporation
• Maxxis International
• Others

These players are continuously innovating and investing in technological solutions to meet the dynamic needs of the market while maintaining a competitive edge.

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Mexico Tire Market Segmentation and Region

 By Vehicle Type

• Passenger Car
• Light Commercial Vehicle (LCV)
• Medium and Heavy Commercial Vehicle (MHCV)
• Two-Wheeler
• Three-Wheeler
• Off the Road (OTR)

By Demand Type

• OEMs
• Replacement

By Price Category

• Budget
• Economy
• Premium

By Tire Type

• Radial
• Bias- Market Size & Forecast 2019-2030, Thousand Units

By Sales Channel

• Direct Sales
• Multi Brand Stores
• Exclusive Outlets
• Online

By Tire Size

• Tire Size 1
• Tire Size 2
• Tire Size 3
• Tire Size 4
• Tire Size 5

By Region

• North
• South
• East
• West
• Central

Frequently Asked Questions (FAQs)

1. What is the expected CAGR of the Mexico Tire Market during 2024-2030?
2. Which region holds the largest market share in the Mexico Tire Market?
3. Who are the leading players in the Mexico Tire Market?
4. What are the key trends driving the Mexico Tire Market forward?
5. What are the major challenges faced by new entrants in the market?

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Scope of the Report

• Provides an unbiased market forecast from 2024 to 2030
• Covers detailed company profiles and competitive analysis
• Includes segment-wise and geography-wise market breakdown
• Offers insights into market drivers, challenges, and trends
• Equips stakeholders with data-backed strategic recommendations

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