The Latin America tire market is projected to register a CAGR of 3.6% during the forecast period (2020-2026). The flat automotive market and economic instability will impact the growth of the market in the region. Moreover, due to the COVID-19 pandemic, a significant downfall in vehicle sales has been witnessed which will further decrease the demand for the tire from the OEM side. However, a positive trend in the market growth is expected in the forthcoming years, which will drive the market growth. The expansion by various global players such as Pirelli, Sumitomo, Goodyear, and Cooper Tire also represents a positive prospect for the market in the region.

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The Latin American tire market is segmented based on vehicle type, road application, construction, tire type, and sales channel. By vehicle type, the market is further segmented into passenger cars, light & medium commercial vehicles, heavy commercial vehicles, two-wheeler, and other. Passenger cars are expected to maintain a major market share during the forecast period. The market is further studied based on geography and is segmented into Mexico, Brazil, Argentina, Chile, Colombia, and others. Brazil and Mexico cover a large chunk of the regional market.

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Some of the key players of the Latin America tire market include Pirelli & C. S.p.A., Sumitomo Rubber Industries Ltd., Michelin Group, Goodyear Tire and Rubber Co., Cooper Tire & Rubber Co., Trelleborg AB among others. The market players are significantly contributing to the market growth by adopting various strategies including mergers, & acquisitions, collaborations, new product launch, and geographical expansion, to stay competitive in the market.

The market study of the Latin America tire market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate.

Latin America Tire Market - Segmentation
Latin America Automotive Tire Market by Vehicle Type
• Passenger Cars
• Light &Medium Commercial Vehicle
• Heavy Commercial Vehicle
• Two-Wheeler
• Other (Construction, Agricultural, Customized Sports)

Latin America Automotive Tire Market by Road Application
• All-Season Tire
• Summer Tire
• Winter Tire
• Other (All-Terrain Tire)

Latin America Automotive Tire Market By Construction
• Radial Tire
• Bias PlyTire

Latin America Automotive Tire Market by Tire Type
• Tubeless Tire
• Tubbed Tire
Latin America Automotive Tire Market by Sales Channel
• OEM (Original Equipment Manufacturer)
• Aftermarket (Replacement)


Latin America Tire Market – Segment by Region
North America
• United States
• Canada

Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World
• Latin America
• Middle East and Africa

Company Profiles
• Ceat Ltd.
 Overview
 Ceat Ltd. in Latin America
 Ceat Ltd. in Tire Landscape
 Recent Developments
• Continental AG
• Giti Tire Pte Ltd.
• Goodyear Tire and Rubber Co.
• Hankook Tire Co. Ltd.
• JKTyre& Industries Ltd.
• Michelin Group
• Pirelli & C. S.p.A.
• Sumitomo Rubber Industries Ltd.
• The Yokohama Rubber Co, Ltd.
• Toyo Tire Corp.
• Trelleborg AB (Standard Tyres Ltd.)


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