Summary

Peru tire market is projected to grow at impressive rate over the next five years on account of increasing two-wheeler and passenger car sales which is consequently driving the tire market in Peru. Peruvian economy depends on the mining and refining sectors due to which sales of OTR and medium & heavy commercial vehicles are high in the country. Additionally, existing free trade agreements with North America and Asian countries allow convenient import of tires, which is anticipated to positively influence the growth of tire market in Peru.

In terms of vehicle type, Peru tire market can be segmented based on passenger car, OTR, light commercial vehicle, medium & heavy commercial vehicle and two-wheeler. Passenger car segment dominated the market in 2019 on account of increasing passenger car fleets backed by rising per capita income and growing number of nuclear families across the country. Between radial and bias, consumers prefer radial tires due to their advantages, such as flexible sidewalls and reduced fuel consumption due to less vibration and resistance over other counterparts.

Major players operating in the Peru tire market include Compania Goodyear del Peru SA, Pirelli Perú, Michelin Group, Yokohama Rubber Co. Ltd., Hankook Tire & Technology Group, Kumho Tire Co., Inc., Continental AG, Sumitomo Rubber Industries, Ltd., Toyo Tire Corporation, etc. The companies are investing in research & development to manufacture technologically advanced tires and increase their share in the market.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To analyze and forecast the market size of Peru tire market, in terms of value and volume.
• To classify and forecast Peru tire market based on vehicle type, sales channel, radial vs bias and regional distribution.
• To identify drivers and challenges for Peru tire market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Peru tire market.
• To conduct the pricing analysis for Peru tire market.
• To identify and analyze the profile of leading players involved in the Peru tire market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the region.
TechSci Research calculated the market size of Peru tire market using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
• Tire manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to tire market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Peru tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Vehicle Type:
o Passenger Car
o Medium & Heavy Commercial Vehicle
o Light Commercial Vehicle
o Off-the-Road Vehicle
o Two-wheeler
• Market, By Sales Channel:
o Online
o Offline
• Market, By Radial Vs Bias:
o Radial
o Bias
• Market, By Region:
o Eastern
o Southern
o Western
o Central
o Northern
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Peru tire market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).

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