Brazil Tire Market Share, Revenue, Trends, Demand, Key Players, Growth Drivers, Challenges and Business Opportunities Till 2033


Brazil Tire Market Share, Revenue, Trends, Demand, Key Players, Growth Drivers, Challenges and Business Opportunities Till 2033: SPER Market Research

 Published: Feb-2024
 Author: SPER Analyst

Brazil Automotive Tire Market is projected to be worth USD 2.78 Billion by 2033 with a CAGR of 5.2%.

The rubber ring that surrounds the outside of the wheel on an automobile is called an automotive tyre. The tire's primary jobs include providing tractive force between the car and the road and safeguarding the wheel rim. It also acts as a flexible cushion, lessening the effect of vibrations and absorbing vehicle shock because it is made of rubber. Rubber tyres are made up of beads, tread, jointless cap heaps, and other components including fabric, carbon black, and synthetic rubber.

Brazil Automotive Tire Market Driving Factors and Challenges
The demand for tyres is rising exponentially as a result of the increased need for vehicle production to meet the growth in demand for automobiles in all market sectors. Therefore, the production of automobiles ultimately determines the need for tyres. Fast industrialization has caused the automobile industry to grow rapidly recently, which has increased sales of commercial vehicles like trucks, tractors, and trailers. Additionally, rising disposable income and rising living standards are contributing causes to the surge in sales of high-end motorcycles and passenger automobiles. 

Additionally, it is anticipated that sales of electric vehicles will rise during the projected time. The sales of electric vehicles are further boosted by the declining costs of electric vehicle components including batteries, transmissions, and alternators. As a result, as customer demand for vehicles rises across all market categories, so does the amount of cars and tyres produced to go along with them. Additionally, the growth of the automotive sector influences the automotive tyre market in Brazil. This is because the consolidation of the automotive sector leads to mergers and acquisitions among domestic and foreign vehicle manufacturers. As a result, it is anticipated that the demand for tyres would rise overall as the automotive industry grows.

There are a number of obstacles facing the Brazilian car tyre industry, though. A number of factors, including changes in the retread tyre market and fluctuating raw material prices, are anticipated to impede market expansion. There's uncertainty in the market because of how consumer purchasing power and tyre production prices are affected by economic volatility and volatility in exchange rates. Further contributing factors to tyre wear and tear and the need for regular replacements are infrastructural flaws including poorly maintained roads and inadequate pavement. Complicating the dynamics of the industry are import tariffs and trade restrictions on tyres and rubber materials. Add to the pressure on manufacturers to embrace sustainable methods are environmental worries about recycling and disposing of tyres. Infrastructural spending, legislative changes, and creative approaches to tyre disposal and manufacture are all necessary to meet these obstacles.

Impact of COVID-19 on Brazil Automotive Tire Market
Production has been halted by the COVID-19 pandemic, which has severely damaged tyre manufacturers. The pandemic has caused a sharp decline in worldwide automobile sales, resulting in significant losses for the manufacturing sector. Exacerbating the situation are lockdown measures implemented in key countries that have interrupted both the supply and demand for vehicle components. Major corporations are also having trouble finding skilled workers, which is impeding their ability to complete projects on time. These difficulties show how the pandemic has had a significant impact on the automobile sector and emphasise the necessity for flexible measures to lessen its negative consequences and maintain resilience in the face of continuing uncertainty.

Brazil Automotive Tire Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Bridgestone Corporation, Continental AG, Hankook Tire & Technology Co., Ltd., Pirelli & C. S.p.A., Sumitomo Rubber Industries, Ltd., The Goodyear Tire & Rubber Company, Toyo Tire Corporation, Yokohama Rubber Co., Ltd., Others.

Brazil Automotive Tire Market Segmentation:

By Vehicle Type: Based on the Vehicle Type, Brazil Automotive Tire Market is segmented as; Commercial vehicles, Electric vehicles, Luxury/Premium vehicles, Passenger cars.

By Season Type: Based on the Season Type, Brazil Automotive Tire Market is segmented as; All-season, Summer, Winter.

By Rim Size: Based on the Rim Size, Brazil Automotive Tire Market is segmented as; Less than 15 inch, 15-20 inch, More than 20 inch.

By Distribution Channel: Based on the Distribution Channel, Brazil Automotive Tire Market is segmented as; Aftermarket, OEM, Online sales.

By Region: This research also includes data for Central-West Region, North Region, Northeast Region, South Region, Southeast Region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

Join Our SPER Panel

Our Global Clients

Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
SPER-Astellas Pharma
SPER-Citi Bank
SPER-Johnson & Johnson


Market Research

We are the leading, full-service global market research and consulting company.

iso-1 iso-1 iso-1 ESOMAR
Secure Payments
SPER Payment Options
Contact HR

 [email protected]