Industry Brief According to TechSci Research report, “Brazil Tire Market By Demand Category (OEM, Replacement), By Vehicle Type (Passenger car, LCV, M&HCV, Two- Wheeler, OTR), By Construction Type (Radial and Bias), By Sales Channel (Offline and Online), By Region (South East, South, North East, Mid-West and North) Competition, Forecast & Opportunities, 2026”, Brazil tire market is anticipated to reach USD8.63 billion at a CAGR of 6.29% by 2026 because of increasing fleet size of vehicles which is boosting the after-market demand for tires in Brazil. The increase in per capita income has resulted in an increase in purchasing power as well as a rise in the population's standard of living. This is resulting in growth of vehicle sales as well as expansion of fleet size, leading to growth in the replacement demand for tires in Brazil. Also, high replacement rate is being witnessed due to poor infrastructure in rural areas across the country. Whenvehicles are driven on poor roads, tires’ tread wears down quickly, resulting in increased aftermarket tire demand in the region. An increasing number of new models of cars are being launched due to high interest and preference among the Brazilian citizens. Consequently, various passenger car manufacturers are emphasizing the introduction of new models with enhanced safety features. The demand for passenger cars is going to remain high in the near future, which is expected to further boost the demand for tires in Brazil through 2026. However, during the COVID-19 outbreak, which led an economic crisis in 2020, the country's automotive sales plummeted considerably. However, after the long and hugely negative effect of COVID-19 lockdown, the tire market has again gained some pace in Brazil. Following a significant reduction in production and sales in recent months, vehicle production has resumed, with sales also rising up, resulting in increased demand for tires in the OEM category. Increased tire sales via e-commerce websites are also helping the tire market to develop after the COVID-19 outbreak. Brazil tire market can be segmented based on demand category, by vehicle type, by construction type, by sales channel, and by region. On the basis of demand category, replacement tires dominate the overall Brazil tire market with more than 4/5th of the total market share. Owing to the increasing fleet size of the vehicle, it is expected that the trend will be the same in near future as well. On the basis of vehicle type, passenger car tires are leading the Brazil tire market with more than half of the total market followed by LCV, M&HCV, Two-Wheeler and OTR. In the forecast period, it is expected that passenger car tires will be consumed more than any other, but two-wheeler tires will increase at a higher CAGR in comparison to other vehicle types. On the basis of construction type, radial tires are dominating in Brazil tire market over bias tire with almost 3/4th of the total share. This is mainly due to high consumption in passenger cars and becauseof increasing fleet of passenger cars it is expected that it will dominate the market in future also. Pirelli Pneus SA, Michelin Pneus, Bridgestone Americas Tire Operations, LLC, The Goodyear Tire & Rubber Company are among some of the leading players operating in the Brazil tire market. Apart from these companies, Continental AG, Rinaldi Tires, Maggion Industrias de Pneus e Maquinas Ltda., Maxxis International, Kenda Rubber Industrial Company, LTD., and Technic Tires. are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisitions, new product developments and also increase their marketing activities and enrich the product portfolio across the country to increase their customer outreach. “In 2020, passenger car tires accounted for the largest share, i.e., 61.45% in Brazil tire market and it is expected to dominate in the forecast period as well. In the forecast period also, it is expected that passenger car tires will dominate because of increasing sales and growing fleet size of passenger cars in Brazil.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. Automotive © TechSci Research 16