MEXICO TIRE Market Size & Insights

As per recent study by MarkNtel Advisors The Mexico Tire Market size is estimated to grow at a CAGR of around 8.31% during the forecast period, i.e., 2024-30.  

What are the Key DROs in the MEXICO TIRE Market?

Increase of Ride Hailing Fleets in Mexico – During the past few decades Mexico has witnessed substantial population growth in urban areas. The public transportation system in Mexico has been struggling to keep pace with population growth. Owing to this, residents of urban areas have significantly turned towards ride-hailing services, as they offer on-demand solutions for getting around. Moreover, Mexico's surging smartphone and internet penetration has made booking rides a more efficient process. As a result, more individuals are utilizing these ride-hailing applications to travel to intercity and intracity destinations. This increasing inclination towards taxi services is necessitating the top companies to expand their ride-hailing car fleets in the country, which is subsequently uplifting the demand for tires.

Moreover, the governing body of the nations has increased its focus on the tourism sector, owing to which investment in tourism infrastructure is gradually increasing. This would subsequently enhance the tourist inflows and would continue to generate significant demand for ride-hailing services. As the usage of these ride-hailing surges, the demand for tires would also subsequently increase during the forecast period.

What are the Key Segments in the MEXICO TIRE Market?

The MEXICO TIRE is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

• 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- Market Size & Forecast 2019-2030F, Thousand Units
• Replacement- Market Size & Forecast 2019-2030F, Thousand Units
• By Price Category
• Budget- Market Size & Forecast 2019-2030F, Thousand Units
• Economy- Market Size & Forecast 2019-2030F, Thousand Units
• Premium- Market Size & Forecast 2019-2030F, Thousand Units
• By Tire Type
• Radial- Market Size & Forecast 2019-2030F, Thousand Units
• Bias- Market Size & Forecast 2019-2030, Thousand Units
• By Sales Channel
• Direct Sales- Market Size & Forecast 2019-2030F, Thousand Units
• Multi Brand Stores - Market Size & Forecast 2019-2030F, Thousand Units
• Exclusive Outlets - Market Size & Forecast 2019-2030F, Thousand Units
• Online- Market Size & Forecast 2019-2030F, Thousand Units
• By Tire Size
• Tire Size 1 - Market Size & Forecast 2019-2030F, Thousand Units
• Tire Size 2 - Market Size & Forecast 2019-2030F, Thousand Units
• Tire Size 3 - Market Size & Forecast 2019-2030F, Thousand Units
• Tire Size 4 - Market Size & Forecast 2019-2030F, Thousand Units
• Tire Size 5 - Market Size & Forecast 2019-2030F, Thousand Units

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How does geographical analysis highlight in the MEXICO TIRE market?

By Region

·       North

·       South

·       East

·       West

·       Central

Who are the Key Players in MEXICO TIRE Market?

• 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

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MEXICO TIRE Industry Recent Development:

·       2024: Yokohama Tire Corporation has showed its intend to build a new consumer/light truck tire plant at the Alianza Industrial Park in Saltillo, Coahuila, Mexico after approval by the YRC board.

·       2024: ZC Rubber has declared the opening of a 60,000 square foot prospective production plant in Saltillo, Mexico.

Key pillars of the research methodology include:

·       Scope & Research Design – Clearly defined objectives with tailored qualitative and quantitative methods, backed by precise timelines and budgets.

·       Sample Selection & Data Collection – Representative samples achieved through proven techniques like random and stratified sampling, supported by reliable tools such as surveys, interviews, and observations.

·       Data Analysis & Validation – Rigorous cleaning, advanced statistical modeling, and thematic analysis ensure accuracy, reliability, and minimal bias.

·       Forecasting & Finalization – Predictive modeling and time-series analysis anticipate future market behaviors, presented through insightful reports with charts, graphs, and strategic recommendations.

"Our methodology reflects the trust businesses place in us. By combining innovation with precision, we deliver not just numbers, but clarity and direction for decision-makers worldwide," said a spokesperson for MarkNtel Advisors.

Why This MarkNtel Advisors Research Report:

• In-depth Market Analysis: Understand trends and dynamics shaping growth.
• Segmented Insights: Target specific segments for focused strategies.
• Geographical Performance: Assess market opportunities by geographic area.
• Emerging Technologies: Discover advancements like AI integration.
• Risk Identification: Pinpoint challenges to inform strategic planning.
• Future Forecasts: Prepare for market changes with actionable projections.

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