Pirelli to Lead South America Tire Market until 2023

Recovering sales of vehicles coupled with expanding automotive fleet to drive South America tire market through 2023
Automotive --> Automobile Tires
According to TechSci Research report, “South America Tire Market By Vehicle Type, By Demand Category, By Radial Vs. Bias, By Country, Competition Forecast & Opportunities, 2013 – 2023”, tire market in South America is projected to reach $ 15.89 billion by 2023, on account of recovering automobile sales, expanding automobile fleet size and consistently increasing tire prices. Moreover, growing population and increasing purchasing power are anticipated to push the sales of automobiles in the region, which in turn would fuel the region’s tire market. Various multinational companies like Pirelli, Bridgestone, Goodyear, Michelin, Continental, Hankook, etc., are expected to further increase the market competition. Collaborations with leading South America vehicle manufacturers coupled with Pirelli’s strong sales network across the region would enable the company to continue its market dominance through 2023.

Browse 39 market data Figures and Tables spread through 51 Pages and an in-depth TOC on "South America Tire Market" https://www.techsciresearch.com/report/south-america-tire-market/3301.html
Accounting for nearly half of the region’s tire market in 2017, passenger car tire segment is expected to maintain its market dominance in the coming years as well, backed by growing sales of passenger cars in the region. On account of unstable political environment, automobile as well as tire companies have been facing challenges in conducting their operations in the region over the last few years. However, with the region gradually regaining political stability coupled with better fiscal and regulatory policies, the economic growth of the region would pick up its pace during the forecast period. Owing to which, the automotive sector is expected to thrive in South America. This in turn would have a positive impact on the region’s tire market.

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“With the region’s constantly rising GDP growth rate, industries in South America are expected to attract huge foreign investments in the coming years, which would increase the government spending on the earlier stagnant, construction and infrastructure sectors. Governments’ focus towards the development of infrastructure industry would augment the demand for commercial vehicles, and consequently, tires over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“South America Tire Market By Vehicle Type, By Demand Category, By Radial Vs. Bias, By Country, Competition Forecast & Opportunities, 2013 – 2023” has analyzed the potential of tire market across the South America region, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by the industry.

Browse Related Reports
• Global Tire Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheeler, Three Wheeler & OTR), By Demand Category, By Radial Vs Bias, By Region, Competition Forecast & Opportunities, 2013 – 2023: https://www.techsciresearch.com/report/global-tire-market/3057.html
• Global Two Wheeler Tire Market By Vehicle Type (Motorcycle & Scooter/Moped), By Demand Category (OEM Vs Replacement), By Region (APAC, Europe & CIS, North America, South America, Middle East & Africa), Competition Forecast & Opportunities, 2013-2023: https://www.techsciresearch.com/report/global-two-wheeler-tire-market/3110.html
• Global Electric Three Wheeler Market By Vehicle Type (Passenger Carrier & Load Carrier), By Battery Capacity (101Ah), By Battery Type (Lithium Ion & Lead Acid), By Region (APAC & Africa), Competition Forecast & Opportunities, 2013-2023: https://www.techsciresearch.com/report/global-electric-three-wheeler-market/2831.html

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TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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