Mexico Tire Market Comprehensive Analysis and Forecast 2024 to 2030
Mexico Tire Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-2030
The Mexico Tire Market size is estimated to grow at a CAGR of around 8.31% during the forecast period, i.e., 2024-30. The Mexico Tire Market is going through significant growth due to multiple drivers like technological advancements and, of course, increasing healthcare needs. The increase in road accidents throughout the country creates a greater demand for X-rays.
Markntel Advisor’s Mexico Tire Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Mexico Tire Market drivers, barriers, Mexico Tire Market Trends, and Key Players in Mexico Tire Market.
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Mexico Tire Market Dynamics: 2024-2030
Mexico Tire Market Driver:
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.
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Mexico Tire Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
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
By Region
-North
-South
-East
-West
-Central.
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Top Companies Operating in the Mexico Tire Market:
Bridgestone Corporation, Goodyear tyre 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 tyre Corporation, Maxxis International.
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