Brazil Tyre Market Forecast & Opportunities, 2019

Mar 11, 2015- Mumbai, India : Bharatbook.com announces a report,on ” Brazil Tyre Market Forecast & Opportunities, 2019”. This is expected to consequently drive the automotive vehicles and tyres markets in Brazil over the next five years.

Brazil is the fourth-largest auto market across the globe after China, US and Japan in terms of sales, but ranks seventh in terms of production. Rising domestic demand, per capita income, number of skilled workforce and technological developments have attracted significant foreign direct investment into the country over the last decade. Major global auto manufacturers such as Fiat, Toyota, Hyundai, Volkswagen, Ford, GM and Nissan intend to either establish a new manufacturing facility or expand their existing production facilities in Brazil to meet the future demand. As a result, the tyre market in Brazil is anticipated to grow significantly during the forecast period. In addition, Brazil is expected to organize the mega sport events like FIFA World Cup 2014 and Olympic Games 2016, which is likely to boost the country’s construction and infrastructure sectors, leading to higher auto demand in the country.

According to “Brazil Tyre Market Forecast & Opportunities, 2019”, the tyre market in Brazil is projected to grow at a CAGR of 8% during 2014-19 in volume terms due to increasing automobile sales coupled with favorable policies for auto industry by the Brazilian government. Lowering of taxes for vehicles as well as introduction of Inovar-Auto program are expected to attract global manufacturers to produce automotive vehicles and components in Brazil as companies have opportunity to receive up to 30% tax discount offered by the government. This is expected to consequently drive the automotive vehicles and tyres markets in Brazil over the next five years. The Brazilian tyre market is largely dominated by the global players such as Pirelli, Michelin, Bridgestone, Goodyear, Continental AG and Rinaldi. “Brazil Tyre Market Forecast &...