Canada Automotive Tire Market Outlook

the canada automotive tire market outlook from 2018 to 2032 presents a steadily growing trend in the market. although the near-term outlook is slightly hindered by covid-19 impact and associated economic contraction, the long-term prospects remain strong. the canadian automotive tire industry is expected to gain from changing customer preferences for increasing safety and durability. a proliferation of hi-end vehicles along with a focus on cost-efficiency point to robust competition in the sector. the increasing scope for eco-friendly alternatives and the implementation of stringent government regulations is enabling manufacturers to evaluate and adopt new technologies and materials thus enhancing every aspect of their operations. the increasing demand for fuel-efficient vehicles as well as for vehicles with extended mileage capabilities is significantly contributing to the overall dynamism of the canada automotive tire market. the growing awareness of the advantages of radial tires and their increasing legal mandates are expected to further boost the market growth. the influence of the global automotive industry, which is gradually advancing toward higher levels of vehicle automation, will heavily depend on the sophistication of canada automotive tire solutions. further, the overall push toward autonomous vehicles is expected to spur significant demand in the tire market. the canadian automotive tire market is likely to face periods of increased demand from the second half of 2021. the market is expected to see increased product innovation and expanded product ranges, growing environmental and economic awareness among consumers, and increased penetrations of green tires in coming period. furthermore, the online marketing and sales of various tier i and tier ii products is expected to see a surge. the market is aggressively shunning traditional sales channels towards digital ones in the wake of the pandemic. the combined effect of increasing application segments and penetration of radial tires is predicted to drive the market further over the forecast period.