Canada Tire Market By Vehicle Type (Truck and Bus Tires, Commercial Truck Tires, Passenger Car Tires, Light Truck Tires, Motorcycle Tires); By Tire Construction (All Season Tires, Bias Ply Tires, Run Flat Tires); By Tire Seasonality (All Season Tires, Winter Tires, Summer Tires); By Tire Brand and Tier (Premium Tires, Mid-Range Tires, Economy Tires, Private Label Tires); By Distribution Channel (Tire Retailers and Dealers, Online Retail, Wholesale and Distributors); By End-User (Consumer Replacement, Original Equipment Manufacturer, Commercial Fleets) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032
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Published: | Report ID: 33252 | Report Format : Excel, PDF
The Canada Tire Market is projected to grow from USD 8,482.62 million in 2024 to USD 11,243.68 million by 2032, reflecting a compound annual growth rate (CAGR) of 3.58%.
The Canada Tire Market is driven by the increasing demand for vehicles, rising automotive production, and the growing need for replacement tires due to the harsh climate and diverse road conditions. Additionally, advancements in tire technology, such as the development of fuel-efficient and all-season tires, are boosting market growth. The growing emphasis on road safety and stringent government regulations regarding vehicle maintenance are further supporting the demand for high-quality tires. Moreover, the trend towards electric vehicles is leading to the development of specialized tires, offering new opportunities for market expansion in Canada.
The Canada Tire Market is geographically concentrated in key regions such as Ontario, Quebec, and British Columbia, where the high population density and significant vehicle ownership drive demand. These provinces are major hubs for automotive manufacturing, distribution, and retail, supporting a robust tire market. Key players in the market include Michelin North America Inc., The Goodyear Tire & Rubber Company, and Bridgestone Americas Inc., which dominate due to their extensive product ranges and strong distribution networks. Other notable companies, such as Continental Tire the Americas LLC and Pirelli Tire North America LLC, also play significant roles by offering specialized and high-performance tire products.
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Rising Vehicle Ownership and Advancements in Tire Technology
The growing population in Canada is leading to increased vehicle ownership, as more people require personal transportation for commuting and daily activities. For instance, the total number of road motor vehicles registered in Canada was 26.3 million in 2022. Urbanization is further fueling this demand, with city residents relying on cars for convenience and mobility. This surge in vehicle ownership directly impacts the tire market, driving demand for new and replacement tires. In response to evolving consumer needs, advancements in tire technology are playing a significant role in shaping the market. Fuel-efficient tires with lower rolling resistance are gaining popularity, as they help improve fuel economy and reduce costs for consumers. High-performance tires are also in demand, catering to specific driving conditions and consumer preferences for sports cars and SUVs. Additionally, Canada’s harsh winter conditions make winter tires essential for optimal safety and performance, creating a robust market for these specialized products.
Increasing Aftermarket Demand and Government Regulations
The aging vehicle fleet in Canada is another factor driving the tire market, as older vehicles require more frequent tire replacements. This trend is boosting demand in the aftermarket segment, where consumers often seek to upgrade their tires to enhance performance or aesthetics. For instance,all motor vehicle tires sold in Canada must be designed and manufactured to follow regulations under Canada’s Motor Vehicle Safety Act. The aftermarket offers a wide range of options, catering to those looking for better handling, improved fuel efficiency, or enhanced visual appeal. Government regulations and safety standards also play a crucial role in the tire market. Regulations regarding tire safety, such as tread depth requirements and labeling standards, ensure that consumers have access to high-quality tires that meet safety guidelines. These standards help maintain consumer confidence in tire products and encourage regular tire maintenance and replacement.
Diverse Climate Conditions and Growing E-commerce
Canada’s diverse climate conditions significantly influence the tire market, as different tire types are required to ensure safety and performance throughout the year. Seasonal tires, including summer, winter, and all-season tires, are necessary to handle the varying weather conditions, from snowy winters to hot summers. This seasonal demand drives continuous market activity, as consumers switch tires to match the climate. Furthermore, the country’s vast and varied terrain, with rural areas and off-road trails, increases demand for off-road tires designed for rugged conditions. Another trend impacting the market is the growth of e-commerce and online retail. Consumers are increasingly turning to online shopping for convenience and accessibility, finding it easier to purchase tires through digital platforms. Online shopping also allows for price comparisons across multiple retailers, fostering competition and potentially lowering prices, which benefits consumers.
Focus on Safety and Sustainability
Safety remains a top priority in the Canadian tire market, with consumers increasingly aware of the importance of using appropriate tires for different driving conditions. This awareness is supported by government initiatives and safety campaigns that emphasize the need for proper tire maintenance and the use of suitable tires for various road and weather conditions. Moreover, there is a growing focus on sustainability within the tire industry, with manufacturers developing eco-friendly tires that use sustainable materials and offer longer tread life. These innovations align with consumer preferences for environmentally responsible products and contribute to the overall growth and development of the tire market in Canada. As the market continues to evolve, these drivers and trends will shape the future landscape of the Canadian tire industry, ensuring it meets the diverse needs of consumers across the country.
Report Scope
This report segments the Canada Tire Market as follows:
Market Trends
Shift Towards Electric Vehicles (EVs) and Focus on Sustainability
The shift towards electric vehicles (EVs) is significantly impacting the Canada Tire Market, with manufacturers developing specialized tires to meet the unique requirements of EVs. For instance, the global trends in electric vehicle technology include advancements in battery efficiency, shorter charging times, and improvements in motor efficiency. These tires are designed to accommodate the different weight distribution of electric vehicles, support regenerative braking systems, and reduce noise, enhancing the overall driving experience. As EV adoption continues to increase, the demand for EV-compatible tires is expected to grow, creating new opportunities for tire manufacturers to innovate and capture market share. Additionally, there is a strong focus on sustainability within the tire industry, driven by increasing consumer awareness of environmental issues. Manufacturers are exploring the use of sustainable materials, such as natural rubber and recycled components, in tire construction to reduce their environmental impact. Tire recycling initiatives are also gaining traction, aiming to repurpose used tires and minimize waste. These efforts not only align with global sustainability goals but also cater to consumers’ growing preference for eco-friendly products, making sustainability a key trend shaping the future of the tire market.
Increasing Demand for High-Performance Tires and Growing Importance of Online Sales
The rising popularity of sports cars, SUVs, and performance sedans is driving the demand for high-performance tires that offer superior grip, handling, and braking capabilities. Consumers are seeking tires that enhance their driving experience, providing better control and safety on various road surfaces and conditions. This trend is pushing manufacturers to innovate and develop high-performance tire options that cater to the specific needs of performance-oriented vehicles. In parallel, the growing importance of online sales is transforming how consumers purchase tires. E-commerce platforms are gaining market share by offering convenience, a wide selection of products, and competitive pricing. Tire manufacturers and retailers are increasingly investing in digital marketing strategies to reach online consumers, leveraging social media, search engine optimization, and targeted advertising to drive sales. The shift to online retail not only provides consumers with easier access to tire products but also enables them to compare prices and features across different brands, fostering a more competitive market environment. As online shopping continues to grow, it will play a crucial role in shaping the distribution and sales strategies of tire manufacturers and retailers in Canada.
Market Challenges Analysis
Seasonality and Competitive Landscape
The Canada Tire Market faces significant challenges related to seasonality, with demand for winter tires peaking during the colder months. This seasonal variation creates fluctuations in sales throughout the year, requiring retailers to carefully manage inventory levels to meet demand without overstocking. Smaller retailers, in particular, may find it challenging to balance inventory, which can lead to either shortages during peak demand or excess stock during off-peak periods. For instance, TRAC’s 2022 Canadian Consumer Winter Tire Study found that 70 per cent of Canadian motorists now use winter tires. Additionally, the competitive landscape in the tire market is intense, dominated by large international tire manufacturers that have established brand recognition and economies of scale. These global players pose significant challenges for smaller, local companies that struggle to compete on price and product variety. The competition often leads to price pressure, which can erode profit margins and make it difficult for smaller companies to sustain operations. As a result, local players must find ways to differentiate their products and services to remain competitive in the market.
Raw Material Costs and Environmental Regulations
Another challenge facing the Canada Tire Market is the volatility of raw material costs, particularly rubber and steel, which are essential components in tire manufacturing. Fluctuations in the prices of these materials can significantly impact production costs, making it difficult for manufacturers to maintain stable pricing. Additionally, global supply chain disruptions, caused by events such as natural disasters or geopolitical tensions, can affect the availability of raw materials and components, leading to production delays and increased costs. Environmental regulations add another layer of complexity, as tire manufacturers must comply with increasingly stringent standards to reduce their environmental footprint. Compliance with these regulations can increase operating costs, as companies invest in cleaner technologies and sustainable practices. Implementing such practices, such as reducing waste and minimizing environmental impact, is essential for meeting regulatory requirements and addressing consumer demand for eco-friendly products. However, these initiatives can be challenging and costly, requiring significant investment in research and development to create innovative and sustainable tire solutions. As the market continues to evolve, addressing these challenges will be crucial for maintaining competitiveness and achieving long-term success in the Canada Tire Market.
Market Segmentation Analysis:
By Vehicle Type:
The Canada Tire Market is segmented by vehicle type, catering to various demands across different transportation sectors. Passenger car tires represent a significant portion of the market, driven by the high volume of personal vehicles in urban and suburban areas. The demand for light truck tires is also growing, as these vehicles are popular among both commercial users and private owners who need a versatile transportation solution. Truck and bus tires, including those for commercial trucks, form a substantial segment, fueled by the country’s extensive logistics and transportation industry. These heavy-duty tires are essential for supporting Canada’s economy, facilitating the movement of goods across the vast geography. Additionally, the motorcycle tires segment caters to the niche market of recreational riders and urban commuters, reflecting the diverse mobility needs of Canadian consumers. Each vehicle type requires specific tire features, such as durability, performance, and safety, driving manufacturers to offer a wide range of tire products to meet these varied demands.
By Tire Construction:
Based on tire construction, the Canada Tire Market includes all season tires, bias ply tires, and run flat tires, each designed to meet specific driving conditions and consumer preferences. All season tires are the most popular segment, providing versatility and convenience by performing well in a range of weather conditions, including mild winters and wet roads. This versatility makes them a preferred choice for many Canadian drivers who seek a balance between performance and cost. Bias ply tires, although less common, are favored in certain applications, such as off-road driving and heavy-duty commercial vehicles, where durability and resistance to rough terrains are crucial. Run flat tires are gaining traction, particularly among premium vehicle owners, due to their ability to maintain functionality even after a puncture, enhancing safety and convenience. The diversity in tire construction types reflects the need for tailored solutions that address the varying climatic conditions, driving habits, and vehicle requirements found across Canada.
Segments:
Based on Vehicle Type:
Truck and Bus Tires
Commercial Truck Tires
Passenger Car Tires
Light Truck Tires
Motorcycle Tires
Based on Tire Construction:
All Season Tires
Bias Ply Tires
Run Flat Tires
Based on Tire Seasonality:
All Season Tires
Winter Tires
Summer Tires
Based on Tire Brand and Tier:
Premium Tires
Mid-Range Tires
Economy Tires
Private Label Tires
Based on Distribution Channel:
Tire Retailers and Dealers
Online Retail
Wholesale and Distributors
Based on End-User:
Consumer Replacement
Original Equipment Manufacturer
Commercial Fleets
Based on the Geography:
Ontario
Rest of Canada
Regional Analysis
Ontario
Ontario, the most populous province, commands a substantial market share of approximately 38% in the Canadian tire sector. This dominance stems from the province’s high concentration of automotive manufacturing facilities, extensive road networks, and large urban centers like Toronto and Ottawa. Ontario’s tire market benefits from a diverse consumer base, ranging from urban commuters to long-haul trucking operations. The province’s strict winter tire regulations in certain municipalities drive seasonal demand, while its robust economy fuels continuous growth in the commercial tire segment. Ontario-based tire retailers and distributors leverage the province’s well-developed logistics infrastructure to maintain efficient supply chains, offering a wide range of products from budget-friendly options to high-performance tires for luxury vehicles.
Rest of Canada
The Rest of Canada, encompassing all provinces and territories outside Ontario, collectively holds a market share of approximately 62% in the tire industry. This vast and geographically diverse region presents unique challenges and opportunities for tire manufacturers and retailers. Western provinces like Alberta and British Columbia drive significant demand for all-terrain and winter tires due to their varied landscapes and harsh winter conditions. Meanwhile, Quebec’s mandatory winter tire law ensures a steady market for seasonal tire changes. The Atlantic provinces, with their coastal climates, create demand for tires that perform well in wet conditions. Rural and remote areas across the Rest of Canada often require specialized tires for agricultural and industrial equipment. Tire companies operating in this region must adapt to diverse climate zones, from the Arctic north to the more temperate south, necessitating a broad product range and flexible distribution strategies.
Key Player Analysis
Michelin North America Inc.
The Goodyear Tire & Rubber Company
Bridgestone Americas Inc.
Cooper Tire & Rubber Company
Continental Tire the Americas LLC
Pirelli Tire North America LLC
Kumho Tire United States Inc.
Yokohama Tire Corporation
Toyo Tire United States Corp.
Hankook Tire America Corp.
Competitive Analysis
The Canada Tire Market is highly competitive, with leading players like Michelin North America Inc., The Goodyear Tire & Rubber Company, and Bridgestone Americas Inc. These companies dominate the market through their extensive product portfolios and well-established distribution networks, leveraging strong brand recognition and continuous innovation to maintain leadership. They invest heavily in research and development to introduce advanced tire technologies, such as fuel-efficient and all-season tires, catering to the diverse needs of Canadian consumers. Other significant competitors focus on high-performance and specialized tires, targeting niche markets such as winter tires and luxury vehicle segments. This intense competition drives continuous product enhancement and aggressive marketing strategies, ensuring that consumers have access to a wide range of tire options tailored to different vehicle types and driving conditions in Canada.
Recent Developments
In August 2024, Goodyear announced that it is expanding and modernizing its Napanee, Ontario, plant to meet the evolving and diverse needs of the electric vehicle (EV) and all-terrain markets.
In March 2024, Continental Tire celebrated the expansion of its Tire Headquarters Campus in South Carolina.
In July 2024, Yokohama acquired Goodyear’s Off-the-Road tyre business.
In March 2023, Michelin announced a $300 million CAD investment into its Canadian operations to accelerate sustainable mobility and improve its environmental footprint.
Market Concentration & Characteristics
The Canada Tire Market exhibits a moderate to high level of market concentration, dominated by a few major international players such as Michelin North America Inc., The Goodyear Tire & Rubber Company, and Bridgestone Americas Inc. These companies have established strong market positions due to their broad product ranges, extensive distribution networks, and significant investments in innovation. The market is characterized by a diverse product offering, including all-season, winter, and performance tires, catering to the varying needs of Canadian consumers across different vehicle types. The presence of both global giants and local manufacturers fosters a competitive environment, driving continuous advancements in tire technology and quality. Additionally, the market is shaped by seasonal demand fluctuations, particularly for winter tires, which are crucial for safe driving in Canada’s harsh winter conditions. The emphasis on safety, performance, and sustainability further defines the characteristics of the tire market, with companies striving to meet stringent regulatory standards and evolving consumer preferences.
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The research report offers an in-depth analysis based on Vehicle Type, Tire Construction, Tire Seasonality,Tire Brand and Tier,Distribution Channel, End-Userand Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.
Future Outlook
The Canada Tire Market is expected to grow steadily due to increasing vehicle ownership and rising demand for replacement tires.
Advancements in tire technology will continue, focusing on fuel efficiency, durability, and performance.
The adoption of electric vehicles will drive demand for specialized tires that meet the unique requirements of these vehicles.
Seasonal demand for winter tires will remain strong, driven by Canada’s harsh winter conditions and safety regulations.
Online retail channels will gain importance, offering consumers convenience and competitive pricing options for tire purchases.
Sustainable tire production practices will become more prevalent, as manufacturers focus on reducing environmental impact and promoting recycling.
Demand for high-performance tires will grow, supported by the popularity of SUVs, sports cars, and performance sedans.
Increasing awareness of tire safety and maintenance will encourage more frequent tire checks and replacements.
Regulatory compliance and safety standards will continue to shape the market, ensuring high-quality and safe tire options for consumers.
Partnerships and collaborations between tire manufacturers and automotive companies will foster innovation and expand product offerings.
Table of Content CHAPTER NO. 1 : INTRODUCTION 15
1.1. Report Description 15 Purpose of the Report 15 USP & Key Offerings 15
1.2. Key Benefits for Stakeholders 15
1.3. Target Audience 16
1.4. Report Scope 16 CHAPTER NO. 2 : EXECUTIVE SUMMARY 17
2.1. Tire Market Snapshot 17
2.2. Canada Tire Market, Volume (Units) & Revenue (USD Million) 2018 – 2032 19
2.3. Insights from Primary Respondents 20 CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 21
3.1. Russia-Ukraine and Israel-Palestine War Impacts 21 CHAPTER NO. 4 : TIRE MARKET – INDUSTRY ANALYSIS 22
4.1. Introduction 22
4.2. Market Drivers 23
4.3. Driving Factor 1 Analysis 23
4.4. Driving Factor 2 Analysis 24
4.5. Market Restraints 25
4.6. Restraining Factor Analysis 25
4.7. Market Opportunities 26
4.8. Market Opportunity Analysis 26
4.9. Porter’s Five Forces Analysis 27 CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 28
5.1. Company Market Share Analysis – 2023 28
5.1.1. Canada Tire Market: Company Market Share, by Revenue, 2023 28
5.1.2. Canada Tire Market: Company Market Share, by Revenue, 2023 29
5.1.3. Canada Tire Market: Top 6 Company Market Share, by Revenue, 2023 29
5.1.4. Canada Tire Market: Top 3 Company Market Share, by Revenue, 2023 30
5.2. Canada Tire Market Company Volume Market Share, 2023 31
5.3. Canada Tire Market Company Revenue Market Share, 2023 32
5.4. Company Assessment Metrics, 2023 33
5.4.1. Stars 33
5.4.2. Emerging Leaders 33
5.4.3. Pervasive Players 33
5.4.4. Participants 33
5.5. Start-ups /SMEs Assessment Metrics, 2023 33
5.5.1. Progressive Companies 33
5.5.2. Responsive Companies 33
5.5.3. Dynamic Companies 33
5.5.4. Starting Blocks 33
5.6. Strategic Developments 34
5.6.1. Acquisitions & Mergers 34 New Product Launch 34 Regional Expansion 34
5.7. Key Players Product Matrix 35 CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 36
6.1. PESTEL 36
6.1.1. Political Factors 36
6.1.2. Economic Factors 36
6.1.3. Social Factors 36
6.1.4. Technological Factors 36
6.1.5. Environmental Factors 36
6.1.6. Legal Factors 36
6.2. Adjacent Market Analysis 36 CHAPTER NO. 7 : TIRE MARKET – BY VEHICLE TYPE SEGMENT ANALYSIS 37
7.1. Tire Market Overview, by Vehicle Type Segment 37
7.1.1. Tire Market Revenue Share, By Vehicle Type, 2023 & 2032 38
7.1.2. Tire Market Attractiveness Analysis, By Vehicle Type 39
7.1.3. Incremental Revenue Growth Opportunity, by Vehicle Type, 2024 – 2032 39
7.1.4. Tire Market Revenue, By Vehicle Type, 2018, 2023, 2027 & 2032 40
7.2. Truck and Bus Tires 41
7.3. Commercial Truck Tires 42
7.4. Passenger Car Tires 42
7.5. Light Truck Tires 43
7.6. Motorcycle Tires 43 CHAPTER NO. 8 : TIRE MARKET – BY TIRE CONSTRUCTION SEGMENT ANALYSIS 44
8.1. Tire Market Overview, by Tire Construction Segment 44
8.1.1. Tire Market Revenue Share, By Tire Construction , 2023 & 2032 45
8.1.2. Tire Market Attractiveness Analysis, By Tire Construction 46
8.1.3. Incremental Revenue Growth Opportunity, by Tire Construction , 2024 – 2032 46
8.1.4. Tire Market Revenue, By Tire Construction , 2018, 2023, 2027 & 2032 47
8.2. All Season Tires 48
8.3. Bias Ply Tires 49
8.4. Run flat Tires 50 CHAPTER NO. 9 : TIRE MARKET – BY TIRE SEASONALITY SEGMENT ANALYSIS 51
9.1. Tire Market Overview, by Tire Seasonality Segment 51
9.1.1. Tire Market Revenue Share, By Tire Seasonality, 2023 & 2032 52
9.1.2. Tire Market Attractiveness Analysis, By Tire Seasonality 53
9.1.3. Incremental Revenue Growth Opportunity, by Tire Seasonality, 2024 – 2032 53
9.1.4. Tire Market Revenue, By Tire Seasonality, 2018, 2023, 2027 & 2032 54
9.2. All Season Tires 55
9.3. Winter Tires 56
9.4. Summer Tires 57 CHAPTER NO. 10 : TIRE MARKET – BY TIRE BRAND AND TIER SEGMENT ANALYSIS 58
10.1. Tire Market Overview, by Tire Brand and Tier Segment 58
10.1.1. Tire Market Revenue Share, By Tire Brand and Tier, 2023 & 2032 59
10.1.2. Tire Market Attractiveness Analysis, By Tire Brand and Tier 60
10.1.3. Incremental Revenue Growth Opportunity, by Tire Brand and Tier, 2024 – 2032 60
10.1.4. Tire Market Revenue, By Tire Brand and Tier, 2018, 2023, 2027 & 2032 61
10.2. Premium Tires 62
10.3. Mid-Range Tires 63
10.4. Economy Tires 63
10.5. Private Label Tires 64 CHAPTER NO. 11 : TIRE MARKET – BY DISTRIBUTION CHANNEL SEGMENT ANALYSIS 65
11.1. Tire Market Overview, by Distribution Channel Segment 65
11.1.1. Tire Market Revenue Share, By Distribution Channel, 2023 & 2032 66
11.1.2. Tire Market Attractiveness Analysis, By Distribution Channel 67
11.1.3. Incremental Revenue Growth Opportunity, by Distribution Channel, 2024 – 2032 67
11.1.4. Tire Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032 68
11.2. Tire Retailers and Dealers 69
11.3. Online Retail 70
11.4. Wholesale and Distributors 70 CHAPTER NO. 12 : TIRE MARKET – BY END USER SEGMENT ANALYSIS 71
12.1. Tire Market Overview, by End User Segment 71
12.1.1. Tire Market Revenue Share, By End User, 2023 & 2032 72
12.1.2. Tire Market Attractiveness Analysis, By End User 73
12.1.3. Incremental Revenue Growth Opportunity, by End User, 2024 – 2032 73
12.1.4. Tire Market Revenue, By End User, 2018, 2023, 2027 & 2032 73
12.2. Consumer Replacement 75
12.3. Original Equipment Manufacturer 76
12.4. Commercial Fleets 76 CHAPTER NO. 13 : CANADA TIRE MARKET BY REGION 77
13.1. Canada Tire Market by Region 77
13.1.1. Ontario 77
13.1.2. Rest of Canada 77 CHAPTER NO. 14 : ONTARIO TIRE MARKET MONTHLY SALES VOLUME AND REVENUE 78
14.1. Ontario Tire Market Monthly Sales Volume and Revenue, 2022 (January to June) 78
14.2. Ontario Tire Market Monthly Sales Volume, 2022 (July to December) 78
14.3. Ontario Tire Market Monthly Sales Volume and Revenue, 2023 (January to June) 79
14.4. Ontario Tire Market Monthly Sales Volume, 2023 (July to December) 79
14.5. Ontario Tire Market Monthly Sales Volume and Revenue, 2024 (January to June) 80 CHAPTER NO. 15 : COMPANY PROFILES 81
15.1. Michelin North America Inc. 81
15.1.1. Company Overview 81
15.1.2. Product Portfolio 81
15.1.3. Swot Analysis 81
15.1.4. Business Strategy 82
15.1.5. Financial Overview 82
15.2. The Goodyear Tire & Rubber Company 83
15.3. Bridgestone Americas Inc. 83
15.4. Cooper Tire & Rubber Company 83
15.5. Continental Tire the Americas LLC 83
15.6. Pirelli Tire North America LLC 83
15.7. Kumho Tire United States Inc. 83
15.8. Yokohama Tire Corporation 83
15.9. Toyo Tire United States Corp. 83
15.10. Hankook Tire America Corp. 83 CHAPTER NO. 16 : RESEARCH METHODOLOGY 84
16.1. Research Methodology 84
16.2. Phase I – Secondary Research 85
16.3. Phase II – Data Modeling 85 Company Share Analysis Model 86 Revenue Based Modeling 86
16.4. Phase III – Primary Research 87
16.5. Research Limitations 88 Assumptions 88
List of Figures
FIG NO. 1. Canada Tire Market, Volume (Units) & Revenue (USD Million) 2018 – 2032 19
FIG NO. 2. Porter’s Five Forces Analysis for Canada Tire Market 27
FIG NO. 3. Company Share Analysis, 2023 28
FIG NO. 4. Company Share Analysis, 2023 29
FIG NO. 5. Company Share Analysis, 2023 29
FIG NO. 6. Company Share Analysis, 2023 30
FIG NO. 7. Tire Market – Company Volume Market Share, 2023 31
FIG NO. 8. Tire Market – Company Revenue Market Share, 2023 32
FIG NO. 9. Tire Market Revenue Share, By Vehicle Type, 2023 & 2032 38
FIG NO. 10. Market Attractiveness Analysis, By Vehicle Type 39
FIG NO. 11. Incremental Revenue Growth Opportunity by Vehicle Type, 2024 – 2032 39
FIG NO. 12. Tire Market Revenue, By Vehicle Type, 2018, 2023, 2027 & 2032 40
FIG NO. 13. Canada Tire Market for Truck and Bus Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 41
FIG NO. 14. Canada Tire Market for Commercial Truck Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 42
FIG NO. 15. Canada Tire Market for Passenger Car Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 42
FIG NO. 16. Canada Tire Market for Light Truck Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 43
FIG NO. 17. Canada Tire Market for Motorcycle Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 43
FIG NO. 18. Tire Market Revenue Share, By Tire Construction , 2023 & 2032 45
FIG NO. 19. Market Attractiveness Analysis, By Tire Construction 46
FIG NO. 20. Incremental Revenue Growth Opportunity by Tire Construction , 2024 – 2032 46
FIG NO. 21. Tire Market Revenue, By Tire Construction , 2018, 2023, 2027 & 2032 47
FIG NO. 22. Canada Tire Market for All Season Tires , Volume (Units) & Revenue (USD Million) 2018 – 2032 48
FIG NO. 23. Canada Tire Market for Bias Ply Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 49
FIG NO. 24. Canada Tire Market for Run flat Tires , Volume (Units) & Revenue (USD Million) 2018 – 2032 50
FIG NO. 25. Tire Market Revenue Share, By Tire Seasonality, 2023 & 2032 52
FIG NO. 26. Market Attractiveness Analysis, By Tire Seasonality 53
FIG NO. 27. Incremental Revenue Growth Opportunity by Tire Seasonality, 2024 – 2032 53
FIG NO. 28. Tire Market Revenue, By Tire Seasonality, 2018, 2023, 2027 & 2032 54
FIG NO. 29. Canada Tire Market for All Season Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 55
FIG NO. 30. Canada Tire Market for Winter Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 56
FIG NO. 31. Canada Tire Market for SummerTires, Volume (Units) & Revenue (USD Million) 2018 – 2032 57
FIG NO. 32. Tire Market Revenue Share, By Tire Brand and Tier, 2023 & 2032 59
FIG NO. 33. Market Attractiveness Analysis, By Tire Brand and Tier 60
FIG NO. 34. Incremental Revenue Growth Opportunity by Tire Brand and Tier, 2024 – 2032 60
FIG NO. 35. Tire Market Revenue, By Tire Brand and Tier, 2018, 2023, 2027 & 2032 61
FIG NO. 36. Canada Tire Market for Premium Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 62
FIG NO. 37. Canada Tire Market for Mid-Range Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 63
FIG NO. 38. Canada Tire Market for Economy Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 63
FIG NO. 39. Canada Tire Market for Private Label Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 64
FIG NO. 40. Tire Market Revenue Share, By Distribution Channel, 2023 & 2032 66
FIG NO. 41. Market Attractiveness Analysis, By Distribution Channel 67
FIG NO. 42. Incremental Revenue Growth Opportunity by Distribution Channel, 2024 – 2032 67
FIG NO. 43. Tire Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032 68
FIG NO. 44. Canada Tire Market for Tire Retailers and Dealers Volume (Units) & Revenue (USD Million) 2018 – 2032 69
FIG NO. 45. Canada Tire Market for Online Retail, Volume (Units) & Revenue (USD Million) 2018 – 2032 70
FIG NO. 46. Canada Tire Market for Wholesale and Distributors, Volume (Units) & Revenue (USD Million) 2018 – 2032 70
FIG NO. 47. Tire Market Revenue Share, By End User, 2023 & 2032 72
FIG NO. 48. Market Attractiveness Analysis, By End User 73
FIG NO. 49. Incremental Revenue Growth Opportunity by End User, 2024 – 2032 73
FIG NO. 50. Tire Market Revenue, By End User, 2018, 2023, 2027 & 2032 74
FIG NO. 51. Canada Tire Market for Consumer Replacement Volume (Units) & Revenue (USD Million) 2018 – 2032 75
FIG NO. 52. Canada Tire Market for Original Equipment Manufacturer, Volume (Units) & Revenue (USD Million) 2018 – 2032 76
FIG NO. 53. Canada Tire Market for Commercial Fleets, Volume (Units) & Revenue (USD Million) 2018 – 2032 76
FIG NO. 54. Research Methodology – Detailed View 84
FIG NO. 55. Research Methodology 85
What is the current size of the Canada Tire Market?
The Canada Tire Market is projected to grow from USD 8,482.62 million in 2024to USD 11,243.68 million by 2032, reflecting a compound annual growth rate (CAGR) of 3.58%.
What factors are driving the growth of the Canada Tire Market?
The growth of the Canada Tire Market is driven by increasing vehicle ownership, advancements in tire technology, and the rising need for replacement tires due to harsh climate conditions. Additionally, the growing trend toward electric vehicles and the emphasis on road safety and government regulations are also contributing to market expansion.
What are the key segments within the Canada Tire Market?
The key segments within the Canada Tire Market include vehicle type (e.g., passenger car tires, truck and bus tires, motorcycle tires), tire construction (e.g., all-season tires, bias ply tires, run-flat tires), tire seasonality, tire brand and tier, distribution channels, and end-user categories.
What are some challenges faced by the Canada Tire Market?
The Canada Tire Market faces challenges such as seasonality in demand, particularly for winter tires, which creates fluctuations in sales. Other challenges include the intense competition among global and local players, volatility in raw material costs, and the need to comply with stringent environmental regulations.
Who are the major players in the Canada Tire Market?
Major players in the Canada Tire Market include Michelin North America Inc., The Goodyear Tire & Rubber Company, Bridgestone Americas Inc., along with other significant competitors such as Continental Tire the Americas LLC and Pirelli Tire North America LLC. These companies dominate the market through extensive product portfolios and strong distribution networks.
Ganesh Chandwade
Senior Industry Consultant
Ganesh is a senior industry consultant specializing in heavy industries and advanced materials.
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