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The Brazil Truck Tire Market is expected to grow at a CAGR of around 5.42% during the forecast period, i.e., 2023-28.
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MARKET RESEARCH REPORT Brazil Truck Tire Market Research Report: Forecast (2023-2028) UPDATED SAMPLE 2024-30 MARKNTEL ADVISORS
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Market Insights The Brazil Truck Tire Market is expected to grow at a CAGR of around 5.42% during the forecast period, i.e., 2023-28. Most of the market expansion would be propelled by the burgeoning demand for commercial vehicles owing to the flourishing e-commerce sector, the ever-rising construction activities in the country, and increased emphasis on improving the road infrastructure. The government of Brazil is heavily investing in expanding & improving its road infrastructure, including highways, expressways, & rural roads, in order to create more routes and increase connectivity across the country, i.e., infusing the need for a large number of trucks & commercial vehicles and, consequently, truck tires.
Market Drivers Rapidly Expanding Commercial Transportation Sector - Brazil's economy relies largely on road transportation for the movement of various kinds of goods within the country. Due to domestic consumption and international trade, the rising demand for freight transport is creating an immense need for more trucks and, in turn, truck tires. In addition, the country is substantially investing in infrastructure development associated with road construction & improvement projects, i.e., leading to increased trucking activity and thus amplifying the production & sales of truck tires.
Market Segments By Truck Type (Light, Medium, Heavy & Ultra-Heavy) By Demand Type (OEM, Aftermarket) By Type of Tire (Bias, Radial) By Application (General Cargo Transport, Chemicals Transportation, Crude Oil Transportation, Others) By Price Category (Budget, Economy, Premium) By Rim Size (Up to 20”, 20.1 to 22.5”, Above 22.5”) By Company (Bridgestone Do Brasil Industria E Comercio Ltda., Goodyear Do Brasil Produtos De Borracha Ltda., Prometeon Tyre Group Industria Brasil Ltda, Pirelli Ltda., Michelin, JK Tire Brazil, Sumitomo Rubber do Brasil Ltda., Continental Brasil Industria Automotiva Ltda., Yokohama Rubber Latin America Comercio Ltda., Titan Brazil, Others)
Top Companies Bridgestone Do Brasil Industria E Comercio Ltda., Goodyear Do Brasil Produtos De Borracha Ltda., Prometeon Tyre Group Industria Brasil Ltda, Pirelli Ltda., Michelin, JK Tire Brazil, Sumitomo Rubber do Brasil Ltda., Continental Brasil Industria Automotiva Ltda., Yokohama Rubber Latin America Comercio Ltda., Titan Brazil, Others
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