Argentina Tyre Market Overview, 2029

Argentina's tire market has evolved significantly over the years, reflecting both the country's economic fluctuations and the global trends in automotive and manufacturing sectors. Historically, the tire industry in Argentina began to take shape in the early 20th century, with local production emerging in response to the growing demand for automobiles. Initially dominated by a few key players, the market gradually expanded as foreign companies began to invest in local manufacturing, attracted by Argentina's burgeoning automotive industry and the demand for both passenger and commercial vehicles. By the late 20th century, the tire market had faced various challenges, including economic crises and fluctuating import policies. The Argentine tire market is characterized by a blend of local manufacturers and multinational companies, with a diverse product range catering to various segments, including passenger cars, trucks, and agricultural vehicles. The demand for tires is influenced by several factors, including economic stability, vehicle sales, and infrastructure development. The rise of e-commerce and digital platforms has transformed the way consumers purchase tires, allowing for greater accessibility and competitive pricing. As sustainability becomes increasingly important, manufacturers are investing in innovative technologies and materials to produce more efficient and eco-friendly tire options. The future of Argentina's tire market appears promising, with ongoing investments in local production, advancements in technology, and an increasing focus on sustainability and consumer preferences shaping its trajectory.

According to the research report "Argentina Tyre Market Overview, 2029," published by Bonafide Research, the Argentina Tyre market was valued at more than USD 2000 Million in 2023. The Argentine tire market has experienced notable growth over the past decade, driven by a combination of increasing vehicle ownership, a recovering economy, and shifts in consumer preferences. Key players in the market include both domestic manufacturers like Pirelli, Fate, and Acelerate, as well as international giants such as Michelin, Bridgestone, and Continental. These companies have established a strong presence in the region, often collaborating with local automotive manufacturers to tailor their products to the specific needs of the Argentine market. One of the primary trends shaping the growth of the tire market in Argentina is the rising demand for eco-friendly and high-performance tires. As environmental awareness grows, consumers are increasingly seeking tires that not only enhance fuel efficiency but also reduce carbon emissions. This shift is prompting manufacturers to invest in research and development, focusing on sustainable materials and innovative designs. Additionally, the growing popularity of electric vehicles (EVs) is creating new opportunities for tire manufacturers to develop specialized products that cater to this emerging segment. Another significant trend is the increasing adoption of e-commerce platforms for tire sales. Consumers are becoming more comfortable purchasing tires online, leading to a surge in digital marketplaces that offer competitive pricing and convenient delivery options. This shift is altering the traditional retail landscape, compelling brick-and-mortar stores to adapt by enhancing their service offerings and customer experiences.

In the Argentine tire market, various segments cater to distinct vehicle types, each reflecting unique developments and demand dynamics. The passenger car segment is the largest, driven by a growing middle class and increasing vehicle ownership. This segment has seen a rise in demand for eco-friendly and high-performance tires, as consumers prioritize fuel efficiency and safety. Major manufacturers are investing in innovative technologies to meet these preferences, introducing tires designed for enhanced grip and longevity. The commercial tire market is divided into light and heavy segments. Light commercial vehicles, such as vans and pickup trucks, have experienced significant growth due to the expansion of e-commerce and logistics sectors. This demand has prompted manufacturers to focus on versatile tire designs that offer durability and cost-effectiveness. In contrast, the heavy commercial segment, which includes trucks and buses, has also grown, supported by infrastructure projects and increased freight transportation needs. Here, the emphasis is on tires that can withstand heavy loads and challenging road conditions, leading to innovations in tread design and material strength. Two-wheelers and three-wheelers represent another important segment in Argentina, with two-wheelers being popular for urban commuting. This segment's growth is driven by affordability and convenience, prompting demand for lightweight, durable tires that enhance maneuverability and fuel efficiency. Three-wheelers, often used for transportation in rural areas, are gaining traction as well, with a focus on reliability and cost-effectiveness.

Radial tires are the most prevalent design type in Argentina, particularly for passenger cars and modern commercial vehicles. They are characterized by their construction, where the tire’s cord plies are arranged radially from the center of the tire. This design allows for improved flexibility and lower rolling resistance, leading to better fuel efficiency, enhanced traction, and superior handling. The radial structure also contributes to longer tread life, making these tires a popular choice among consumers seeking durability and performance. In recent years, Argentine manufacturers and international brands have introduced several innovative initiatives in the radial tire segment. One significant trend is the development of eco-friendly radial tires. With increasing awareness of environmental issues, companies are exploring sustainable materials, such as bio-based compounds and recycled rubber, to produce tires that have a lower environmental impact. Bias ply tires, although less common in the passenger car segment, are still relevant in specific applications, particularly in agricultural and industrial vehicles. Their construction involves crisscrossing the plies at angles, providing a robust and sturdy design that can handle heavy loads and rough terrains. This makes them ideal for off-road conditions, where durability and puncture resistance are critical. In the Argentine market, the demand for bias ply tires is primarily driven by the agricultural sector. With Argentina being a major agricultural producer, the need for reliable tires that can withstand the rigors of farming activities is paramount.

In the Argentine tire market, end-user segments are primarily divided into two categories: Original Equipment Manufacturer (OEM) and replacement tires. The OEM segment caters to automotive manufacturers who install tires on new vehicles before they are sold. This segment is characterized by partnerships between tire manufacturers and automakers, focusing on high-quality, performance-oriented products that meet specific vehicle requirements. These tires are typically distributed through direct contracts with manufacturers, ensuring a steady supply aligned with vehicle production schedules. On the other hand, the replacement tire segment serves consumers who need to replace worn or damaged tires on existing vehicles. This segment is substantial, driven by a growing vehicle fleet and increased consumer awareness of safety and performance. Replacement tires are distributed through various channels, including authorized tire dealers, automotive service centers, and e-commerce platforms. The rise of digital sales has transformed this segment, with consumers increasingly purchasing tires online for convenience and competitive pricing. Retailers often provide additional services, such as tire installation and maintenance, enhancing customer experience and loyalty.

COVID-19 Impact
The Covid-19 pandemic affected almost every industry vertical across the globe and the tire market in the region of North America was no exception. The enforcement of lockdowns along with the travel restrictions across countries significantly affect the tire market. The situation of lockdowns caused production in the automobile industry to stop which affected the demand from the OEM sector. On the other hand the market was also observing decline from the replacement sector during the pandemic as the requirement for new tires declined.

Key Players
Apollo Tires, Bridgestone, CEAT Tires, Continental, Giti, Goodyears Tires, Hankook, JK tires, Kenda Kumho, Maxxis International, Michelin, MRF, Nexen Tire Corp, Nokian Tires, Pirelli, Sailun Group Co., Ltd, Sumitomo Rubber Industries, Titan International , Toyo Tire Corporation, Triangle Tire Co, Zhongce Rubber Group Co, Yokohama, Doublestar Tire, Linglong, Nankang

Considered in the report
• Geography: Argentina
• Base Year: 2023
• Historical year: 2018
• Forecasted Year: 2029

Aspects covered in the report
• Market Size by Value (2018-2029F)
• Market Size by Volume (2018-2029F)
• Market Share by Vehicle Type
• Market Share by End Use
• Market Share by Design
• Market Share by Sales Channel
• Market Share by Country

The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Automotive and Transport industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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