PUBLISHER: Inkwood Research | PRODUCT CODE: 1152325
PUBLISHER: Inkwood Research | PRODUCT CODE: 1152325
The North America tire aftermarket, tire replacement market is estimated to accelerate with a 3.60% CAGR during the assessment period, 2022-2030. The presence of major automotive companies and high per-capita income propel market growth in the region.
The North America tire aftermarket, tire replacement market growth evaluation includes an analysis of United States and Canada. Automotive manufacturing is one of Canada's most important industrial industries. According to the Automotive Industries Association of Canada (AIA), the Canadian aftermarket is poised for tremendous growth. According to Canadian government sources, the country is one of the world's top 12 producers of light vehicles.
The expansion of the automotive aftermarket has increased demand for light vehicle sales in recent years, and this trend is projected to continue in the future years. This will increase automotive ownership in Canada and fuel future growth in the automotive tire aftermarket. Tire imports from several countries are utilized in the automotive tire aftermarket in Canada. Furthermore, since the country's automobile fleet has grown in recent years, tire demand in the replacement sector is likely to rise.
Some of the leading companies operating in the market include: the Yokohama Rubber Co. Ltd., Cooper Tire & Rubber Company, Goodyear Tires, Maxxis, etc.