Updated Sep 27, 2022 12:29

Market for Motorcycle or Bicycle Tyre in Canada

Market Overview
In , the Canadian motorcycle or bicycle tyre market was finally on the rise to reach $ after four years of decline. Overall, consumption continues to indicate a buoyant increase. Over the period under review, the market attained the peak level at $ in 2016; however, from 2017 to , consumption remained at a lower figure.

In value terms, motorcycle or bicycle tyre production skyrocketed to $ in estimated in export price. Overall, production posted a significant increase. The growth pace was the most rapid in 2009 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2016; however, from 2017 to , production stood at a somewhat lower figure.


Consumption
In , consumption of tyres for motorcycles or bicycles increased by % to units, rising for the second consecutive year after four years of decline. Overall, consumption showed a buoyant expansion. Over the period under review, consumption hit record highs at units in 2016; however, from 2017 to , consumption stood at a somewhat lower figure.

The size of the motorcycle or bicycle tyre market in Canada expanded significantly to $ in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed strong growth. Over the period under review, the market reached the peak level at $ in 2016; however, from 2017 to , consumption failed to regain momentum.


Market Forecast
Driven by increasing demand for motorcycle or bicycle tyre in Canada, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Canada domestic supply is expected to continue its growth. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Canada remains a net importer of motorcycle or bicycle tyre; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.