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Tire Manufacturing in Canada: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Tire Manufacturing in Canada Market Research Report | NAICS 32621CA | Apr 2016

Rubber meets the road: Offshoring will continue to limit growth, despite pent-up demand for tires

IBISWorld’s Tire Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 11-16
-5.2%
Annual Growth 16-21
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Profit
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Employment
4,844
Businesses
70
Industry Analysis & Industry Trends

The Tire Manufacturing industry has traversed rocky roads over the five years to 2016. Volatile rubber prices, coupled with pressure from competitively priced imports, are anticipated to cause industry revenue to decline. Many companies are outsourcing their tire production to countries with lower labour costs, limiting domestic production. Moreover, research and development advancements have slowed over the past decade and smaller players that do not benefit from economies of scale have consequently lost their competitive advantage and been forced to exit the industry. Demand for tires is anticipated to improve over the next five years as consumer incomes rise and the economy gradually continues to strengthen... purchase to read more

Industry Report - Industry Analysis Chapter

The Canadian tire market is highly saturated and, as a result, demand for Tire Manufacturing industry products has fluctuated roughly in line with the Canadian economy over the past five years. To improve margins amid a stagnant market, many operators have moved their production overseas to countries with lower labour costs. For example, Bridgestone’s latest financial data claims about 73.0% of its production was overseas in 2015 compared with 70.0% in 2011, reflecting a continued trend towards overseas manufacturing. The Tire Manufacturing industry in Canada is consequently anticipated to decline at an average annual rate of 5.2% over the five years to 2016 to $2.4 billion amid continued offshoring... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Tire Manufacturing Industry?

This industry is primarily engaged in manufacturing tires and inner tubes from natural and synthetic rubber. The finished products are then sold to motor vehicle manufacturers and tire wholesalers. Operators within this industry also retread tires.

Industry Products
Passenger replacement tiresLight truck replacement tiresOriginal equipment tiresMedium and heavy duty truck replacement tires
 
Industry Activities
Pneumatic, semipneumatic and solid-rubber tireInner tubeMotor vehicle tireTire repair material


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