London, 04 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the passenger car tires market in Canada 2015-2019, which is estimated to grow at a CAGR of 2.56% during the forecast period of 2014-2019.
“Young Internet users are more receptive to buying tires online. Consumers are impressed by the benefits associated with buying tires online, such as savings in both time and cost, being able to compare prices, and finding reasonably priced tires,” says Faisal Ghaus, Vice President of Technavio.
“The large variety and current availability of tires, multiple payment options, and quick delivery to the required location are some of the other benefits that are associated with online purchases.”
Key Market Drivers
- Government Policies Favoring Increased Investments in Automotive Sector
- Increasing Popularity of Hybrid Vehicles Leading to Demand for Low-rolling Resistance Tires
- Replacement Tire Market to Support Tire Market Growth
- Government Policies Aimed at Increasing Use of Winter Tires
Key Market Trends
- Increased Online Tire Purchases
- Tire Manufacturers Shifting Focus to Low-rolling Resistance Tires to Cater to Growing EV Market
- Bio-oils Used in Tire Manufacturing Process
Key Market Vendors
- Bridgestone Canada Inc.
- Continental AG
- Goodyear
- Hankook Tire Canada Corporation
- Kumho Tire Canada, Inc.
- Michelin North America, Inc.
- Pirelli & C. S.p.A.
- Toyo Tire & Rubber Co., Ltd
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
