Growing automotive fleet size and high tire replacement ratio are expected to drive the Mexico replacement tire market through 2026.https://bit.ly/3b1XPXu

1. MARKET INTELLIGENCE. CONSULTING
www.techsciresearch.com
2016–2026
MEXICO REPLACEMENT TIRE MARKET
Forecast and Opportunities
Published On: August 2021

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S. No. Contents
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Mexico Replacement Tire Market
4. Executive Summary
5. Voice of Customer
5.1. Factors Influencing Purchase Decision
5.2. Brand Recall
5.3. Brand Switching
5.4. Brand Switching Attributes
5.5. Brand Satisfaction Level
6. Mexico Replacement Tire Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (Passenger Car, Two-Wheeler, LCV, M&HCV and OTR)
6.2.2. By Tire Construction Type (Radial vs Bias)
6.2.3. By Sales Channel (Online vs Offline)
6.2.4. By Price Segment (Ultra Budget, Budget and Premium)
6.2.5. By Region
Table of Contents

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6.2.6. By Top 10 Cities (2020)
6.2.7. By Company (2020)
6.2.8. By Tier Type (2020)
6.3. Market Map (By Vehicle Type, By Region)
7. Mexico Passenger Car Replacement Tire Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Category (Hatchback, Sedan and SUV/MPV)
7.2.2. By Tire Construction Type
7.2.3. By Sales Channel
7.2.4. By Rim Size
7.2.5. By Price Segment
7.3. Prominent Tire Sizes
7.4. Market Map (By Vehicle Category)
8. Mexico LCV Replacement Tire Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Vehicle Category (Pickup Truck, Panel Van and Light Bus)
8.2.2. By Tire Construction Type
Table of Contents

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8.2.3. By Sales Channel
8.2.4. By Rim Size
8.2.5. Price Segment
8.3. Prominent Tire Sizes
8.4. Market Map (By Vehicle Category)
9. Mexico Two-Wheeler Replacement Tire Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Category (Motorcycle and Scooters/Mopeds)
9.2.2. By Tire Construction Type
9.2.3. By Sales Channel
9.2.4. By Rim Size
9.2.5. By Price Segment
9.3. Prominent Tire Sizes
9.4. Market Map (By Vehicle Category)
10. Mexico M&HCV Replacement Tire Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Vehicle Category (Truck, Bus and Heavy Truck)
10.2.2. By Tire Construction Type
10.2.2.1. By Vehicle Category (Truck and Bus)
Table of Contents

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9.2.3. By Sales Channel
9.2.4. By Rim Size
9.2.5. By Price Segment
9.3. Prominent Tire Sizes
9.4. Market Map (By Vehicle Category)
11. Mexico OTR Replacement Tire Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1.
By Vehicle Category (Tractors & Harvesters, Dump Trucks/Tipper Trucks, Hauler
Trucks, Loader-Dozer-Excavators & Graders; Forklift & Telehandler, Cargo
Trucks, Mobile Cranes and Others)
11.2.2.
By Application (Mining, Construction, Industrial, Agriculture, Forestry, Ports, and
Others)
11.2.3. By Tire Construction Type
11.2.4. By Sales Channel
11.2.5. By Rim Size
11.2.6. By Price Segment
11.3. Prominent Tire Sizes
11.4. Market Map (By Application)
Table of Contents

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S. No. Contents
12. Import - Export Analysis
13. Market Dynamics
13.1. Drivers
13.2. Challenges
14. Market Trends and Developments
15. Supply Chain Analysis
16. List of Prominent Dealers & Distributors
17. Policy & Regulatory Landscape
18. Mexico Economic Profile
19. Competitive Landscape
19.1. Bridgestone de Mexico SA de CV
19.2. Industrias Michelin, S.AdeC.V.
19.3. Hankook Tire de Mexico, S.A de C.V.
19.4. Goodyear Servicios Comerciales, S.de R.L. de C.V.
19.5. PIRELLI NEUMÁTICOS DE MÉXICO, SA DE CV
19.6. Continental Tire de Mexico S.A. de C.V.
19.7. Yokohama Tire Mexico (YTMX)
19.8. NT MEXICO S.DE R.L. DE C.V (México) (Toyo Tires)
19.9. Westlake México (Hangzhou Zhongce Rubber Company)
19.10. JK TORNEL SA de CV
20. Strategic Recommendations
21. About Us & Disclaimer
Table of Contents

7. PRODUCT OVERVIEW

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Scope of Report
Product of Interest (POI): Tire
Review Period
2016 – 2019
Base Year
2020
Estimated Year
2021
Forecast Period
2022 – 2026
Year Range
Tire is a ring like component that encircles the vehicle’s rim and meets the ground. Tires are filled with
compressed air to provide a gripping surface for traction on the surface over which the vehicle travels. Most
vehicles are equipped with pneumatic tires where air is held under pressure inside the tire. Since tire
production began, natural rubber is extensively used in fabrication of tires. However, the modern tires make
use of materials like synthetic rubber, fabric, steel wires, carbon black, etc. adding advanced characteristics to
the tires.
MEXICO REPLACEMENT TIRE MARKET
Market Segmentation
VEHICLE TYPE
• Passenger Car
• Light Commercial
Vehicle (LCV)
• Medium and Heavy
Commercial Vehicle
(M&HCV)
• Off the Road (OTR)
• Two-Wheeler
• Central Mexico
• Central North
• North
• South Mexico
TIRE CONSTRUCTION
TYPE
PRICE SEGMENT
REGION
• Radial
• Bias
SALES CHANNEL
• Offline
• Online
• Ultra Budget
• Budget
• Premium

9. RESEARCH METHODOLOGY

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A
C
B
Primary
Research
Company
Analysis
Desk
Research
❑ Identifying Key Opinion
Leaders
❑ Questionnaire Design
❑ In-depth Interviews
❑ Market Participants
❑ Key Strengths
❑ Recent
Developments
❑ Market Changing
Aspects/Dynamics
❑ Government
Policies
❑ Final Conclusion
❑ LinkedIn
❑ TechSci Internal
Database
❑ Factiva
❑ Hoovers
Paid Sources
❑ Company Website
❑ Company Annual
Reports
❑ White Paper Study
❑ Financial Reports
❑ Investor
Presentations
❑ Regulatory Body
❑ Associations, etc.
Secondary
Research
Primary
Research
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
•In-depth secondary research was conducted to
determine top players in the Mexico
Replacement Tire market, overall market size
and segmental market size.
Market Profiling
•In order to conduct industry experts’ interviews,
TechSci formulated a detailed questionnaire.
Formulating Questionnaire
•List of industry players and industry specialists
was developed.
Developing List of Respondents
•TechSci conducted interviews with industry
experts and industry players for data collection
and verification.
Data Collection
•Data obtained as a result of primary and
secondary research was validated through
rigorous triangulation.
Data Validation
•The data was scrutinized using MS-Excel and
statistical tools, such as Time Series Analysis,
etc. to obtain qualitative and quantitative
insights about the Mexico Replacement Tire
market.
Data Analysis
Research Methodology

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Baseline Methodology:
For the study, TechSci Research gathered information through primary research surveys with leading tire OEMs operating across the
country. We also put through an exhaustive search of credible paid databases, such as Business Week, Factiva, Hoovers, etc.,
including our internal database. Our team of analysts has then prudently evaluated all the collected information and presented the
same in chronological order to depict a meaningful and clear picture of the Mexico Replacement Tire market. While compiling the
data, we have also cross checked all the collected information from multiple sources and data warehouses, so as to present the most
accurate and precise information of the concerned industry.
All the data representation done here is in calendar year period, starting from 1st January 2020 to 31st December 2020 until
mentioned otherwise.
Primary Research – Partial List of Companies Interviewed Few Sources of Secondary Research
S. No. Company/Dealers & Distributor Names
1. Bridgestone de Mexico SA de CV
2. Industrias Michelin, S.AdeC.V.
3. Hankook Tire de Mexico, S.A de C.V.
4. Goodyear Servicios Comerciales, S.de R.L. de C.V.
5. PIRELLI NEUMÁTICOS DE MÉXICO, SA DE CV
6. Continental Tire de Mexico S.A. de C.V.
7. Yokohama Tire Mexico (YTMX)
8. NT MEXICO S.DE R.L. DE C.V (México) (Toyo Tires)
9.
Westlake México (Hangzhou Zhongce Rubber
Company)
10. JK TORNEL SA de CV
S. No. Secondary Sources
1. OICA
2. World Bank
3. INEGI
4. Industry Magazines
5. Credible Paid Database
Research Methodology

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Vehicle Production, Sales & Fleet Size
Basic data points needed for analysis of Mexico Replacement Tire market are the historical, current and forecast figures for
vehicle production, sales and fleet size. Data for vehicle sales and fleet size has been extracted through various secondary
sources and credible data portals. TechSci Research has also maintained a database for vehicle sales and fleet size for two-
wheelers, which is regularly updated through various primary research surveys and secondary sources such as tire associations
& government publications.
Tire Demand
Research Methodology
Replacement Tire Sales
Replacement tire demand of a particular country is directly dependent on the country’s vehicle fleet size and historical vehicle sales.
Replacement tire demand is calculated by multiplying vehicle fleet with replacement tire ratio, which is obtained by conducting a
series of surveys with car owners to understand the frequency of tire replacement, as it varies for different countries depending upon
the country’s road conditions, climate, economic and regulatory policies, etc. The replacement ratio is expressed as a percentage. For
example, in case of two-wheeler, replacement ratio is considered to be 100% if two tires are replaced per vehicle per year.
For instance, for two-wheeler replacement tire demand calculation:
The calculated replacement tire demand data is further analyzed by TechSci Research through Delphi technique, i.e., multiple rounds
of telephonic interviews with tire companies/dealers in Mexico. The information collected is then cross-verified through industry
experts and secondary sources, such as annual reports and paid databases to generate meaningful results.
Two-wheeler Fleet
Size (Volume)
X
Replacement Ratio
(%)
X No. of Tires =
Replacement
Tire Demand
100,000 X 19% X 2 = 38,000 Tires
Total Replacement Tire Market Forecast
Forecast
For forecasting the numbers, we have used time series analysis along with regression analysis, followed by judgmental analysis.

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Industry Brief
According to TechSci Research report “Mexico Replacement Tire Market, By Vehicle Type (Passenger Car, Two-Wheeler, LCV, M&HCV and OTR), By Tire
Construction Type (Radial vs Bias), By Sales Channel (Online vs Offline), By Price Segment (Ultra Budget, Budget and Premium), By Region (Central Mexico,
Central North Mexico, North Mexico, South Mexico), By Top 10 Cities, By Company, By Tier Type Forecast & Opportunities, 2026”, Mexico replacement tire
market is anticipated to be valued around USD6.75 billion by 2026. Tire is a ring like component that encircles the vehicle’s rim and meets the ground. Tires are
filled with compressed air to provide a gripping surface for traction on the surface over which the vehicle travels. Most vehicles are equipped with pneumatic tires
where the air is held under pressure inside the tire. Natural rubber is extensively used in the fabrication of tires since the tire production began. However, the
modern tires make use of materials like synthetic rubber, fabric, steel wires, carbon black, etc. adding advanced characteristics to the tires. These tires are
replaced by new tires when the company fitted tires wear out after continuous usage. Replacement tires are commonly known as aftermarket tires as these tires
are purchased by consumers for replacing the company fitted Original Equipment (OE) tires. Replacement tires overcome the limitations of OEM tires, by giving
the consumer the option of customizing the vehicle to benefit his or her needs for superior driving experience over comfort. Growth in the Mexico replacement
tire market is driven by increasing fleet and prolonged use of large fleet size which leads to high tire replacement ratio of automobiles in the country. High
replacement rate is being witnessed due to poor infrastructure in rural areas across Mexico. Moreover, the average life of automobiles across the country has
been increasing due to technological advancements and competitions among automotive manufactures, resulting in growing need of replacement tires. Use of
automobiles on bad road conditions result in early diminishing of tire tread, which is leading to higher aftermarket demand for tires in the country. As most of the
population in the country prefers to travel by their personal vehicles instead of using public transportation services, it directly results in generating high demand
for replacement tires in Mexico. Increase in the fleet size of vehicles is boosting the after-market demand for tires in Mexico. Rise in per capita income has led to
increase in the purchasing power as well as growth in the living standard of Mexico’s population. 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 Mexico. Growing sales of replacement tires in the country can also be attributed to
increasing number of construction activities and flourishing mining sector, which is driving the sales of OTR replacement tires. According to the Oxford Business
Group, a total of around 41.4 million tourists visited the country in year 2018. These significant number of tourists reflect a total of 5.5% increase from the
number of people visited the country in year 2017. The growing tourism industry in the country needs increasing number of hotels for the tourists to stay,
alongside better road infrastructure and connectivity is also required for safe and comfortable travel. According to the Executive Summary report of Tourism
Policy Review of Mexico, Tourism industry of the country is a heavy contributor to the GDP, accounting 8.7% of the nation’s GDP. Since, tourism is contributing
heavily to the economic growth of the country, the construction industry has grown at a robust pace over the past years. Heavy equipment machineries like
excavators, backhoe loaders, bulldozers, wheel tractor and scrapers are increasing used for construction purposes, sales of these construction machineries
have witnessed an increasing growth over the past few years. Since, the construction machineries performs off-road duty work, these machineries are equipped
with OTR tires. The increasing use of construction machineries in the country is wearing out the company fitted Original Equipment Tires, driving the Mexico
replacement tire market.
Mexico replacement tire market can be segmented based by vehicle type, by tire construction type, by sales channel, by price segment, by region, by top 10
cities, by company, and by tier type. Based on tire construction type, the Mexico replacement tire market is segmented into Bias tires and Radial tires. The
market share of bias category is higher than that of radial category. Radial OTR tire penetration in the market is gaining momentum across the country, due to
features such as better control, high durability and better fuel efficiency as well as enhanced load carrying capacity. Owing to this, the demand for radial OTR
replacement tires is expected to evolve over the next five years.
“In 2020, Central México accounted for the largest market share, i.e., 40.16% in Mexico replacement tire market. The region is expected to maintain its
dominance over the next five years as well, but Central North México is giving neck to neck competition. High tire replacement ratio is boosting the demand for
replacement tires in the country.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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Sample Data - Snapshot
Mexico Replacement Tire Market Size, By Value (USD Billion), By Volume (Million Units), 2016-2026F
-
10.00
20.00
30.00
40.00
50.00
60.00
2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
Value (USD Billion) Volume (Million Units)
CAGR 2016-2020
By Value: xx%
By Volume: xx%
CAGR 2021E-2026F
By Value: xx%
By Volume: xx%
Mexico Replacement Tire Market Share, By Vehicle Type, By Volume, 2016–2026F
2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F
Passenger Car 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
LCV 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Two-Wheeler 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
M&HCV 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
OTR 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Mexico OTR Replacement Tire Market Share, By Tire Construction Type, By Volume, 2016–2026F
2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F
Bias 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
Radial 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00%

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Report Name: MEXICO REPLACEMENT TIRE MARKET
Forecast and Opportunities
2016–2026
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16. About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in
number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The
proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’
model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich
evaluation of the opportunities available in the market.
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OEM), By Rim Size (Up to 25’’, Above 25”), By Tire Construction (Radial, Bias), By Company and By Region, Competition Forecast & Opportunities, 2026.
• Philippines Tire Market By Vehicle Type (Two-Wheeler, Commercial Vehicle and Passenger Car), By Demand Category (Replacement and OEM), By
Region, Competition Forecast & Opportunities, 2026.
• Saudi Arabia Tire Market, By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, and Two-wheeler), By Radial Vs Bias, By Online vs Offline Sales Channel,
Competition, Forecast & Opportunities, 2026.
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,
accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers
reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or
omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this
report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market
size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.
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