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Mexico Tire Market Share, Trends, Analysis, Report: By Design: Radial, Bias; By Type: Tube Tire, Tubeless Tire; By Season: Winter Tire, Summer Tire, All Season Tire; By Vehicle Type: Two-Wheeler and Three-Wheeler, Passenger Vehicle, Heavy Commercial Vehicle, Others; By Sales Channel; Regional Analysis; Competitive Landscape; 2024-2032
Mexico Tire Market Size
The Mexico tire market reached approximately USD 242.09 million in 2023. The market is projected to grow at a CAGR of 4.80% between 2024 and 2032, reaching a value of around USD 371.64 million by 2032.
Mexico Tire Market Outlook
- As per the industry reports, the automotive production is expected to witness a growth of 8 per cent in 2024, creating lucrative opportunities for tire growth in Mexico.
- The sales of light vehicles in Mexico reached 113,000 units in the first two months of 2024, which aids the growth of the tire in this segment.
- In 2024, Yokohama Rubber announced its plans to build a passenger car tires production plant with a production capacity of 5 million tires in Mexico.
Mexico Tire Market Growth
The growth of the automotive sector, advancements in tire technology, and growing demand for eco-friendly tires are some of the influential market drivers. Advances in tire technology, including fuel-efficient, low-rolling-resistance, and intelligent tires, appeal to customers seeking improved performance and reduced expenses.
The consistent wear and tear of tires result in a continuous demand for new tires, which contributes to the expansion of the market. The retreading sector is also growing, offering economical and eco-friendly alternatives for operators of commercial vehicles, further aiding the market expansion.
The increasing demand for high-quality tires, especially in the luxury vehicle category, is fuelled by consumers' desire for improved driving comfort and safety. The popularity of speciality tires such as all-terrain, off-road, and run-flat tires is also on the rise because of their unique uses in different types of vehicles.
Mexico Tire Industry Segmentation
“Mexico Tire Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Design
- Radial
- Bias
Market Breakup by Type
- Tube Tire
- Tubeless Tire
Market Breakup by Season
- Winter Tire
- Summer Tire
- All Season Tire
Market Breakup by Vehicle Type
- Two-Wheeler and Three-Wheeler
- Passenger Vehicle
- Heavy Commercial Vehicle
- Light and Medium Commercial Vehicle
- Others
Market Breakup by Sales Channel
- OEM
- Aftermarket
Market Breakup by Region
- Central Mexico
- Northern Mexico
- Pacific Coast
- The Bajío
- Yucatan Peninsula
- Baja California
Mexico Tire Market Share
Based on vehicle type, the market is divided into two-wheeler and three-wheeler, passenger vehicle, heavy commercial vehicle, and light and medium commercial vehicle, among others. The passenger vehicle sector holds the largest share in the market as passenger vehicle tires need to be replaced regularly because of wear and tear, creating a consistent demand in the replacement market. The aftermarket for passenger vehicle tires is also strong, as consumers seek high-quality replacement choices, such as branded and premium tires.
Leading Companies in the Mexico Tire Market
The market players are investing in research and development activities to develop advanced tire designs and gain a competitive edge in the market.
- Bridgestone Corporation
- Continental AG
- Cooper Tire & Rubber Company Europe Limited
- Industrias Michelin. SA de CV
- Pirelli & CSpA - Pirelli Tire SpA
- Goodyear Tire & Rubber Company
- The Yokohama Rubber Co., Ltd.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Design |
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| Breakup by Type |
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| Breakup by Season |
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| Breakup by Vehicle Type |
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| Breakup by Sales Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Tire Market Overview
8.1 Key Industry Highlights
8.2 Latin America Tire Historical Market (2018-2023)
8.3 Latin America Tire Market Forecast (2024-2032)
8.4 Latin America Tire Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Chile
8.4.5 Others
9 Mexico Tire Market Overview
9.1 Key Industry Highlights
9.2 Mexico Tire Historical Market (2018-2023)
9.3 Mexico Tire Market Forecast (2024-2032)
10 Mexico Tire Market by Design
10.1 Radial
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Bias
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Mexico Tire Market by Type
11.1 Tube Tire
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Tubeless Tire
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Mexico Tire Market by Season
12.1 Winter Tire
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Summer Tire
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 All Season Tire
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Mexico Tire Market by Vehicle Type
13.1 Two-Wheeler and Three-Wheeler
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Passenger Vehicle
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Heavy Commercial Vehicle
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Light and Medium Commercial Vehicle
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Mexico Tire Market by Sales Channel
14.1 OEM
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Aftermarket
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Mexico Tire Market by Region
15.1 Central Mexico
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Northern Mexico
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.3 Pacific Coast
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
15.4 The Bajío
15.4.1 Historical Trend (2018-2023)
15.4.2 Forecast Trend (2024-2032)
15.5 Yucatan Peninsula
15.5.1 Historical Trend (2018-2023)
15.5.2 Forecast Trend (2024-2032)
15.6 Baja California
15.6.1 Historical Trend (2018-2023)
15.6.2 Forecast Trend (2024-2032)
16 Market Dynamics
16.1 SWOT Analysis
16.1.1 Strengths
16.1.2 Weaknesses
16.1.3 Opportunities
16.1.4 Threats
16.2 Porter’s Five Forces Analysis
16.2.1 Supplier’s Power
16.2.2 Buyers Powers
16.2.3 Threat of New Entrants
16.2.4 Degree of Rivalry
16.2.5 Threat of Substitutes
16.3 Key Indicators for Demand
16.4 Key Indicators for Tire
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Bridgestone Corporation
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Continental AG
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Cooper Tire & Rubber Company Europe Limited
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Industrias Michelin. SA de CV
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Pirelli & CSpA - Pirelli Tire SpA
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Goodyear Tire & Rubber Company
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 The Yokohama Rubber Co., Ltd.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Tire Market: Key Industry Highlights, 2018 and 2032
2. Mexico Tire Market: Key Industry Highlights, 2018 and 2032
3. Mexico Tire Historical Market: Breakup by Design (USD Million), 2018-2023
4. Mexico Tire Market Forecast: Breakup by Design (USD Million), 2024-2032
5. Mexico Tire Historical Market: Breakup by Type (USD Million), 2018-2023
6. Mexico Tire Market Forecast: Breakup by Type (USD Million), 2024-2032
7. Mexico Tire Historical Market: Breakup by Season (USD Million), 2018-2023
8. Mexico Tire Market Forecast: Breakup by Season (USD Million), 2024-2032
9. Mexico Tire Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
10. Mexico Tire Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
11. Mexico Tire Historical Market: Breakup by Sales Channel (USD Million), 2018-2023
12. Mexico Tire Market Forecast: Breakup by Sales Channel (USD Million), 2024-2032
13. Mexico Tire Historical Market: Breakup by Region (USD Million), 2018-2023
14. Mexico Tire Market Forecast: Breakup by Region (USD Million), 2024-2032
15. Mexico Tire Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 242.09 million.
The market is estimated to grow at a CAGR of 4.80% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 371.64 million by 2032.
The market is being driven due to growth of the automotive sector, advancements in tire technology, and growing demand for eco-friendly tires.
The key trends aiding the market include increasing demand for high-quality tires, especially in the luxury vehicle, expansion of the online sales channel, and rising focus on aftermarket sales.
Regions considered in the market are Central Mexico, Northern Mexico, Pacific Coast, The Bajío, Yucatan Peninsula, and Baja California, among others.
Based on season, market segmentations include winter tire, summer tire, and all-season tire, among others.
Different sales channels are OEM and aftermarket.
The major players in the market are Bridgestone Corporation, Continental AG, Cooper Tire & Rubber Company Europe Limited, Industrias Michelin. SA de CV, Pirelli & CSpA - Pirelli Tire SpA, Goodyear Tire & Rubber Company, and The Yokohama Rubber Co., Ltd., among others.
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