Brazil Retreaded Tire Market to Cross Billion Dollar Mark by 2022: TechSci Research

Rising popularity of retreaded tires due to their cost-effectiveness and long lifecycle coupled with introduction of better technologies to propel Brazil retreading tire market through 2022

According to TechSci Research report, “Brazil Retreading Tire Market By Vehicle Type, Competition Forecast & Opportunities, 2012 - 2022”, Brazil retreaded tire market is projected to reach nearly $ 1.1 billion by 2022. Proliferating growth in the country’s retreading tire market is being backed by growing preference for retreaded tires among fleet owners, increasing availability of quality products and cost-effectiveness of retreaded tires. Moreover, with growing e-commerce and logistics industries, need for transportation is growing rapidly in Brazil, which is augmenting demand for retreaded tires, especially from trucking industry. Additionally, with rising vehicle fleet and environmental concerns, demand for retreaded tires is anticipated to rise in Brazil in the coming years.

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In vehicle type segment, trucks dominate the Brazil retreading tire market, and the segment grabbed more than two-thirds of the share in the country’s retreaded tire market in 2016. The leading position of this segment is backed by growing e-commerce and logistics industries, in which trucks are extensively used for transportation. Fleet owners prefer retreaded tires as they offer them higher profit margins as compared to new tires and also have a long running life.

Among regions, South-east region in Brazil maintained the leading position in 2016. The region witnesses a large demand for retreaded tires on account of high population density coupled with high penetration of e-commerce, trucking industry and other businesses. Moreover, South-east region is anticipated to maintain its dominance during the forecast period as well on the back of increasing population and commercialization in the region. Bandag is the market leader in Brazil retreading tire market on account of its broad product portfolio and high product quality offered by the company.

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“With rising environmental concerns, retreaded tires offer a viable alternative to new tires. Moreover, retreaded tires are cost-effective and have a good running life. Also, with the introduction of new advanced technologies, their quality has become better over the last few years, thereby making them a preferred choice for fleet owners. Furthermore, extended support from domestic government to facilitate the use of retreaded tires in Brazil is also expected to positively influence the sales of retreaded tires in the country over the next five years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Brazil Retreading Tire Market By Vehicle Type, Competition Forecast & Opportunities, 2012 - 2022” evaluates the future growth potential of retreading tire market in Brazil, and provides statistics and information on market sizes, 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 analyzes emerging trends along with essential drivers and key challenges faced by Brazil retreading tire market.

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