How Big is the Canada Tire Market?

The Canada Tire Market size is valued at USD 5.1 billion in 2023 & is estimated to grow at a CAGR of around 2.4% during the forecast period, i.e., 2024-30. The market has a great influence on the sales of vehicles in the country. Back in 2019, the automotive industry witnessed substantial growth in terms of vehicle sales. However, with the Covid-19 pandemic in 2020, the market underwent a downfall. However, vehicle sales are reviving swiftly & have been displaying persistent growth since 2021, which, in turn, is augmenting the demand for tires across the country.

Market Statistics

  • Market Size in 2023: USD 5.1 billion
  • Market Growth Rate (CAGR): 2.4% from 2024-2030

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Canada Tire Market Insight:

Driver-

Stringent Norms Associated with Vehicle Safety - With an escalating number of road accidents, the Canadian government is encouraging automakers to manufacture tires with utmost safety while urging vehicle owners to replace tires timely and have periodic inspections on their conditions to ensure vehicle & passenger safety at all times. These aspects are likely to instigate the leading companies in the Canada Tire Market to introduce new products and enhance their overall product portfolio while delivering safer tires to the customers.

 Canada Tire Market Segmentation:

The report has segmented the market into the following categories:

By Type of Vehicles

  • Passenger Car
  • Light Commercial Vehicle
  • Buses and Trucks
  • Medium and Heavy Commercial Vehicles
  • Off the Road (OTR)
  • Two Wheelers

By Demand Category

  • OEM
  • Replacement

By Type of Tire

  • Radial
  • Bias

By Sales Channel

  • Dealer/Exclusive Outlets
  • Online
  • Direct Sales

By Season

  • All season
  • Summer
  • Winter

By Price Category

  • Budget (Up to USD90)
  • Economy (USD91-USD140
  • Premium (Above USD140)

By Rim Diameter

  • Up to 12”
  • 1” to 15”
  • ” to 18”
  • 1” to 20”
  • 1” to 22.5”
  • 6” to 26”
  • 1” to 35”
  • 1” to 47”
  • Above 47”

By Region

  • West
  • North
  • South
  • East

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Competitive Landscape:

  • Continental Tire Canada
  • Bridgestone Canada (BSCA)
  • Yokohama Tire (Canada)
  • Hankook Tire Canada
  • Goodyear Canada
  • Michelin North America (Canada)
  • Kumho Tire Canada
  • Pirelli Tire
  • Toyo Tire Canada.

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key Highlights of the Report:

  • Market Performance (2024-2030)
  • Strategic Recommendations
  • Current, Historical and Future Market Trends
  • Market Drivers and Leading Competitor
  • SWOT Analysis
  • Structure of the Market
  • Comprehensive Mapping and Recent Advancement

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