Canada Tire Market Growth Trends, Volume Insights & Outlook 2030

Canada Tire Market Size & Insights

According to MarkNtel Advisors study The future of 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, i.e., 2025-30.

What are the Key Driver 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 Demand Category
  • OEM
  • Replacement
• By Type of Tire
  • Radial
  • Bias

Among all, Radial Tires dominate the Canada Tire Market with the largest market share of more than 60%. The surging number of industrial projects leading to the escalating sales of heavy vehicles is the prime aspect driving the demand for radial tires. These vehicles require robust grip, low rolling resistance, minimal vibrations, & enhanced stability on different terrains; thus, such vehicles are heavily reliant on radial tires, resulting in the higher market demand for this specific form of tire in the country.

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• 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”

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.

2024: Continental Tire Canada launched the UltimateContact tire family exclusively at Canadian Tire, aiming to increase presence and cater to premium tire demand in Canada.

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• Scope & Research Design – Clearly defined objectives with tailored qualitative and quantitative methods, backed by precise timelines and budgets.
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• Data Analysis & Validation – Rigorous cleaning, advanced statistical modeling, and thematic analysis ensure accuracy, reliability, and minimal bias.
• Forecasting & Finalization – Predictive modeling and time-series analysis anticipate future market behaviors, presented through insightful reports with charts, graphs, and strategic recommendations.

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Why This MarkNtel Advisors Research Report:

• In-depth Market Analysis: Understand trends and dynamics shaping growth.
• Segmented Insights: Target specific segments for focused strategies.
• Geographical Performance: Assess market opportunities by geographic area.
• Emerging Technologies: Discover advancements like AI integration.
• Risk Identification: Pinpoint challenges to inform strategic planning.
• Future Forecasts: Prepare for market changes with actionable projections.

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