According to the report by Renub Research, titled “Brazil Tire Market, Size, Forecast 2022-2027, Industry Trends, Share, Growth, Impact of COVID-19, Opportunity Company Analysis” the Brazil Tire Market Size reached US$ 6.29 Billion in 2021. Brazil is home to one of the most pre-eminent automotive markets, including tire is the significant component of a vehicle interacting with the road. In terms of annual new registrations, the characteristics of tires mainly influence the performance of a vehicle. Tires affect a vehicle's traction, handling, ride comfort, and fuel consumption. A tire is a ring-shaped component surrounding a wheel's rim to transfer the vehicle's weight from the axle into the wheel to the ground and provide traction on the surface.
In addition, the sales of tires have increased significantly over the years in Brazil, owing to a rise in the various types of automotive racing competitions, which serves as a major driver for the high-performance and ultra-high-performan
