Tire Manufacturing in Canada
The Tire Manufacturing industry in Canada has exhibited growth over the five years to 2019. Vehicle sales growth in North America, increased vehicle travel and the depreciation of the Canadian dollar have pushed up revenue. Over the five years to 2019, industry revenue is anticipated to increase. Despite revenue growth, volatile input prices, coupled with pressure from imports, have placed significant downward pressure on industry performance. New tires improve fuel efficiency and safety. Therefore, trends toward a greater appreciation for vehicle efficiency have improved demand for more advanced tire technology. Moreover, as the price of gasoline fell during the period, consumers responded by driving more. Demand for tires is anticipated to stagnate over the five years to 2024, as new vehicle production slows and the Canadian dollar stagnates.
This industry is primarily engaged in manufacturing and retreading tires and inner tubes from natural and synthetic rubber. The finished products are then sold to motor vehicle manufacturers and tire wholesalers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.