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Colombia Automotive Tyre Market Size, Share, Growth, Trends: By Design: Radial, Bias; By Season Type: Summer, Winter, All Season; By Rim Size: Less than 15 Inch, 15-20 Inch, More than 20 Inch; By Vehicle Type: Two-Wheeler and Three-Wheeler, Passenger Vehicle, Others; By Sales Channel; Competitive Landscape; 2024-2032
Colombia Automotive Tyre Market Outlook
The Colombia automotive tyre market size is projected to expand at a CAGR of 4.30% between 2024 and 2032.
Key Takeaways
- Colombia imported $756 million worth of rubber tyres in 2022, ranking as the 30th largest importer of the product globally. During the same year, rubber tyres held the 13th position among the most imported products in Colombia.
- Colombia emerged as the 44th largest global importer of cars in 2022, with imports amounting to $2.73B, consequently driving up the Colombia automotive tyre market share.
- Colombia imported $225k worth of used pneumatic tyres in the year 2022.
The Colombia automotive tyre market growth is supported by the rise in passenger car production and the steady expansion of the automotive sector. The surge in population and the swift urbanisation have led to a higher need for vehicles, both for personal and commercial purposes, thus propelling the size of the market. Furthermore, increase in the number of middle-class individuals in Colombia has contributed to the growing demand for cars, consequently fuelling the market demand.
Colombia's commitment to environmental protection has prompted investments in electric vehicles, aiming to mitigate greenhouse gas emissions and address climate change. Consequently, the tyre market has experienced significant growth due to the unique requirements of electric cars. As the number of Colombians choosing electric vehicles continues to rise, the demand for tyres specifically tailored to these vehicles has also increased. Moreover, electric vehicles necessitate tyres with reduced rolling resistance to optimise energy efficiency and prolong battery lifespan. Consequently, the market has witnessed the emergence of specialised eco-friendly tyres that cater to evolving electric vehicle technology.
Shift towards sustainability has encouraged manufacturers to focus on developing tyres that minimise their carbon footprint and reduce waste throughout their lifecycle. There is a surge in use of recycled materials in tyre production. Instead of relying solely on virgin rubber, manufacturers are incorporating recycled rubber from old tyres into their tyre compounds. This not only reduces the demand for new raw materials but also helps to address the issue of tyre wastage.
Market Segmentation
Colombia Automotive Tyre Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Design
- Radial
- Bias
Market Breakup by Season Type
- Summer
- Winter
- All Season
Market Breakup by Rim Size
- Less than 15 Inch
- 15-20 Inch
- More than 20 Inch
Market Breakup by Vehicle Type
- Two-Wheeler and Three-Wheeler
- Passenger Vehicle
- Heavy Commercial Vehicle
- Light and Medium Commercial Vehicle
- Others
Market Breakup by Sales Channel
- OEM
- Aftermarket
Competitive Landscape
The market participants are focusing on the production of sustainable tyres to secure a competitive advantage within the market.
- Bridgestone Corporation
- Continental AG
- Sumitomo Rubber Industries, Ltd.
- The Goodyear Tire & Rubber Company
- Hankook Tire & Technology Co., Ltd.
- Pirelli & CSpA
- Michelin Group
- AEOLUS TYRE Co. Ltd.
- JK Tyre & Industries Ltd.
- Apollo Tyres Ltd.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Design |
|
| Breakup by Season Type |
|
| Breakup by Rim Size |
|
| Breakup by Vehicle Type |
|
| Breakup by Sales Channel |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Automotive Tyre Market Overview
8.1 Key Industry Highlights
8.2 Latin America Automotive Tyre Historical Market (2018-2023)
8.3 Latin America Automotive Tyre Market Forecast (2024-2032)
8.4 Latin America Automotive Tyre Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Colombia
8.4.5 Others
9 Colombia Automotive Tyre Market Overview
9.1 Key Industry Highlights
9.2 Colombia Automotive Tyre Historical Market (2018-2023)
9.3 Colombia Automotive Tyre Market Forecast (2024-2032)
10 Colombia Automotive Tyre Market by Design
10.1 Radial
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Bias
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Colombia Automotive Tyre Market by Season Type
11.1 Summer
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Winter
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 All Season
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Colombia Automotive Tyre Market by Rim Size
12.1 Less than 15 Inch
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 15-20 Inch
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 More than 20 Inch
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Colombia Automotive Tyre Market by Vehicle Type
13.1 Two-Wheeler and Three-Wheeler
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Passenger Vehicle
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Heavy Commercial Vehicle
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Light and Medium Commercial Vehicle
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Colombia Automotive Tyre Market by Sales Channel
14.1 OEM
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Aftermarket
14.2.1 Historical Trend (2018-2023)
14. 2.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyers Powers
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Value Chain Analysis
17 Trade Data Analysis (HS Code: 4011)
17.1 Major Importing Countries
17.1.1 By Volume
17.1.2 By Value
17.2 Major Exporting Countries
17.2.1 By Volume
17.2.2 By Value
18 Price Analysis
19 Competitive Landscape
19.1 Market Structure
19.2 Company Profiles
19.2.1 Bridgestone Corporation
19.2.1.1 Company Overview
19.2.1.2 Product Portfolio
19.2.1.3 Demographic Reach and Achievements
19.2.1.4 Certifications
19.2.2 Continental AG
19.2.2.1 Company Overview
19.2.2.2 Product Portfolio
19.2.2.3 Demographic Reach and Achievements
19.2.2.4 Certifications
19.2.3 Sumitomo Rubber Industries, Ltd.
19.2.3.1 Company Overview
19.2.3.2 Product Portfolio
19.2.3.3 Demographic Reach and Achievements
19.2.3.4 Certifications
19.2.4 The Goodyear Tire & Rubber Company
19.2.4.1 Company Overview
19.2.4.2 Product Portfolio
19.2.4.3 Demographic Reach and Achievements
19.2.4.4 Certifications
19.2.5 Hankook Tire & Technology Co., Ltd.
19.2.5.1 Company Overview
19.2.5.2 Product Portfolio
19.2.5.3 Demographic Reach and Achievements
19.2.5.4 Certifications
19.2.6 Pirelli & CSpA
19.2.6.1 Company Overview
19.2.6.2 Product Portfolio
19.2.6.3 Demographic Reach and Achievements
19.2.6.4 Certifications
19.2.7 Michelin Group
19.2.7.1 Company Overview
19.2.7.2 Product Portfolio
19.2.7.3 Demographic Reach and Achievements
19.2.7.4 Certifications
19.2.8 AEOLUS TYRE Co. Ltd.
19.2.8.1 Company Overview
19.2.8.2 Product Portfolio
19.2.8.3 Demographic Reach and Achievements
19.2.8.4 Certifications
19.2.9 JK Tyre & Industries Ltd.
19.2.9.1 Company Overview
19.2.9.2 Product Portfolio
19.2.9.3 Demographic Reach and Achievements
19.2.9.4 Certifications
19.2.10 Apollo Tyres Ltd.
19.2.10.1 Company Overview
19.2.10.2 Product Portfolio
19.2.10.3 Demographic Reach and Achievements
19.2.10.4 Certifications
19.2.11 Others
20 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Automotive Tyre Market: Key Industry Highlights, 2018 and 2032
2. Colombia Automotive Tyre Market: Key Industry Highlights, 2018 and 2032
3. Colombia Automotive Tyre Historical Market: Breakup by Design (USD Million), 2018-2023
4. Colombia Automotive Tyre Market Forecast: Breakup by Design (USD Million), 2024-2032
5. Colombia Automotive Tyre Historical Market: Breakup by Season Type (USD Million), 2018-2023
6. Colombia Automotive Tyre Market Forecast: Breakup by Season Type (USD Million), 2024-2032
7. Colombia Automotive Tyre Historical Market: Breakup by Rim Size (USD Million), 2018-2023
8. Colombia Automotive Tyre Market Forecast: Breakup by Rim Size (USD Million), 2024-2032
9. Colombia Automotive Tyre Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
10. Colombia Automotive Tyre Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
11. Colombia Automotive Tyre Historical Market: Breakup by Sales Channel (USD Million), 2018-2023
12. Colombia Automotive Tyre Market Forecast: Breakup by Sales Channel (USD Million), 2024-2032
13. Major Importing Countries by Volume
14. Major Exporting Countries by Volume
15. Major Importing Countries by Value
16. Major Exporting Countries by Value
17. Colombia Automotive Tyre Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 4.30% between 2024 and 2032.
The growth of the tyre market in Colombia is primarily fuelled by the rise in passenger car production and advancements in the automobile sector.
The key trends prevailing in the market are the increasing government initiatives for the adoption of electric vehicles and the rising vehicle ownership rates, consequently driving automotive tyre demand.
The major designs of tyres according to the market report are radial and bias.
The major sales channels in the market are OEM and aftermarket.
The major players in the market are Bridgestone Corporation, Continental AG, Sumitomo Rubber Industries, Ltd., The Goodyear Tire & Rubber Company, Hankook Tire & Technology Co., Ltd., Pirelli & CSpA, Michelin Group, AEOLUS TYRE Co. Ltd., JK Tyre & Industries Ltd., and Apollo Tyres Ltd., among others.
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