Tire Manufacturing in Canada - Market Research Report (2014-2029)

Burning rubber: Falling new vehicle sales abroad will limit revenue growth

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

The Tire Manufacturing industry in Canada has exhibited high revenue volatility, mainly as a result of the pandemic. Declines in vehicle sales in North America and vehicle travel in 2020 are the primary reasons for this volatility. Import competition from other countries in the US, Canada's largest export market, also contributes to volatile performance. Despite improving macroeconomic conditions, industry revenue will decline at a CAGR of 4.0% to an estimated $3.2 billion in 2023, with a boost of 1.9% in 2023 as profit plummets to negative 3.8%.

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