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Latin America and Caribbean Automotive Tire Market May See a Big Move | The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries Ltd
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Nowadays, there is a wide variety of automotive tires available in the market, which caters to the requirement of different kind of vehicles such as passenger cars, commercial vehicles and electric vehicles.
Factors such as increase in automotive production & sales across different vehicles segment, rise in competition among tire manufacturers and introduction of advanced technology in the manufacturing process are driving the market growth. However, volatile prices of raw materials and development in the market of retreading tires hinder the market growth. Furthermore, advancement in technology and fuel efficiency and safety concerns is expected to offer lucrative opportunities for the market growth.
Among the analyzed countries, Brazil is the highest revenue contributor, followed by Mexico, Argentina, and Rest of Latin America and Caribbean. On the basis of forecast analysis, Bahamas is expected to lead during the forecast period, due to increase in demand along with the vehicle sale leads to create a significant growth in the Bahamas tire market.
The Latin America and Caribbean automotive tire market is segmented into season type, vehicle type, rim size, distribution channel, and Latin America and Caribbean countries. By season type, it is divided into summer, winter and all-season tires. By vehicle type, it is divided into passenger car, commercial vehicle, and electric vehicle. By rim size, the market is categorized into less than 15 inch, 15 to 20 inch, and more than 20 inch. By distribution channel, it is bifurcated into OEM and aftermarket. By Latin America and Caribbean countries, the market is analyzed across Brazil, Mexico, Argentina, Haiti, Cuba, Dominican Republic, Bahamas, Guatemala, Panama and rest of Latin America and Caribbean countries.
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KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the Latin America and Caribbean automotive tire market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall Latin America and Caribbean automotive tire market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the Latin America and Caribbean automotive tire market with a detailed impact analysis.
- The current Latin America and Caribbean automotive tire market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY PLAYERS
o Bridgestone Corporation
o Continental corporation
o MICHELIN
o Pirelli Tyre C. S.p.A. (China National Chemical Corporation)
o The Goodyear Tire & Rubber Company
o Toyo Tire Corporation
o Sumitomo Rubber Industries Ltd.
o The Yokohama Rubber Co., Ltd.
o Hankook Tire & Technology Co., Ltd.
o Nokian Tyres plc
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=AMR1719
KEY MARKET SEGMENTS
By Season Type
o Summer
o Winter
o All Season
By Rim Size
o Less than 15 inches
o 15 to 20 inches
o More than 20 inches
By Vehicle Type
o Passenger Vehicle
o Commercial Vehicle
o Electric Vehicle
By Channel
o OEM
o Aftermarket
By Region
o Latin America and Caribbean
? Brazil
? Mexico
? Argentina
? Haiti
? Cuba
? Dominican Republic
? Bahamas
? Guatemala
? Panama
? Rest of Latin America and Caribbean
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