Canada Tire Market Growth Outlook 2030: Volume Trends & Strategic Insights

 


Canada Tire Market Size & Insights

The  Canada Tire Market  size was valued at around USD 7.84 billion in 2024 and is projected to reach USD 10.28 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.62% during the forecast period, ie, 2025-30.         

The Canada Tire Market is significantly growing due to several growth factors, including the rapidly growing gaming industry, the rising demand for electronic devices, including TVs, smartphones, monitors, wearables, etc., the infrastructural development & expansion of production facilities, and the integration of artificial intelligence in Canada Tire. 

What are the Key DROs in the  Canada Tire  Market?

Stringent Safety Norms Driving Market Growth –  Over many years, the drastically rising number of road accidents in the country has prompted regulatory authorities to focus the setting norms related to manufacturing or tires and replacement tenure of the tires, etc. In 2022, according to Transport Canada's National Collision Database (NCDB) report, the figure of 91,500 reported road collisions in Canada. With an escalating number of road accidents, the Canadian government is encouraging automakers to manufacture tires with utmost safety while urging vehicle owners to replace tires on time and have periodic inspections on their condition to ensure vehicle & passenger safety at all times.

For instance, the regulations enforced by Transport Canada on tires to enhance safety include, Motor Vehicle Safety Act, which states that all tires sold in Canada must comply with the Motor Vehicle Tire Safety Regulations (SOR/2013-198) set. These aspects are likely to instigate the leading companies in the Canada Tire Market to introduce new products and enhance their overall product portfolio while delivering safer tires to the customers. Therefore, strict norms related to the safety of the vehicles & drivers are increasing the market demand.

What are the Key Segments in the Canada Tire Market?

The Canada Tire is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

-By Type of Vehicles

  • Passenger Car
  • Light Commercial Vehicle
  • Buses and Trucks
  • Medium and Heavy Commercial Vehicles
  • Off the Road (OTR)
  • Two Wheelers

-By Sales Channel

  • Dealer/Exclusive Outlets
  • Online
  • Direct Sales

-By Season

  • All season
  • Summer
  • Winter

-By Price Category

  • Budget (Up to USD90)
  • Economy (USD91-USD140
  • Premium (Above USD140)

-By Rim Diameter

  • Up to 12”
  • 1” to 15”
  • ” to 18”
  • 1” to 20”
  • 1” to 22.5”
  • 6” to 26”
  • 1” to 35”
  • 1” to 47”
  • Above 47”

-By Type of Tire

  • Radial
  • Bias

Among all, Radial Tires dominate the Canada Tire Market with the largest market share of more than 60%.

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-By  Demand Category

  • OEM
  • Replacement

Here, the replacement demand dominates the Canada Tire Market with a market share of more than 70% in recent years and is anticipated to follow the same trend during the forecast period as well.

How does geographical analysis highlight in the Canada Tire market?

-By Region

  • West
  • North
  • South
  • East

Who are the Key Players in Canada Tire Market?

  • Continental Tire Canada
  • Bridgestone Canada (BSCA)
  • Yokohama Tire (Canada)
  • Hankook Tire Canada
  • Goodyear Canada
  • Michelin North America (Canada)
  • Kumho Tire Canada
  • Pirelli Tire
  • Toyo Tire Canada

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Canada Tire Market News

  • 2024: Goodyear Canada  announced a USD419.75 million expansion plan of its Napanee, Ontario plant, aiming to boost EV and all-terrain tire production, create ~200 jobs, and achieve net-zero waste by 2040.

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  • Risk Identification : Pinpoint challenges to inform strategic planning.
  • Future Forecasts : Prepare for market changes with actionable projections.

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