Facts & Figures

Tire Industry

According to the report titled "Mexico Tyre Market Overview, 2026" published by Bonafide Research, the tyre market of the country Mexico is expected to grow at CAGR around 7% market size by the end of the forecast period. In Mexico, different types of tyres are present and they are categorised in different segments. On the basis of the vehicle type, passenger cars, commercial light weight tyres, commercial-heavy, two-wheeler tyres, three-wheelers and others, Commercial-heavy vehicles are only used for heavy business work such as construction, mining, and digging, so this type of vehicle is in short supply and has a small market share of commercial-heavy tyres.

Radial tyres and bias-ply tyres are classified on the basis of design type. Radial tyres have poor transport handling since low lateral stiffness causes the tyre sway to increase as the speed of the vehicle increases and the sidewall tends to bulge, which could cause damage and punctures, so radial tyre demand is low in Mexico. On the basis of end use, OEM tyres and replacement tyres are available. The replacement has high demand among the people of Mexico because it is less expensive and provides off-road driving and terrain trips.

Mexico Tyre Market Overview, 2027 - GII (giiresearch.com)

The Mexico OTR Tire Market was valued USD 989.06 Million in 2020 and is expected to grow at a CAGR of over 8.13%, in value terms, over the next five years to reach USD 1605.17 Million until 2026, on the back of increasing agricultural activities in the country

Factors like growing economy of Mexico is also anticipated to contribute to the expanding market of OTR tires in Mexico. According to the World Bank collection of development indicators, off the total land available to the country, Mexico reported 54.99% as the Agricultural land. The country has varied topographies and appropriate weather conditions offering farmers the opportunity to cultivate more than 200 types of crops in the country.

Auto Part Industry

Mexico is a major market for U.S. passenger vehicles, light vehicles, trucks, buses, auto parts, and supplies. The automotive sector is one of Mexico’s most significant industries, comprising 20 percent of the nation’s GDP and employing over one million people nationwide.

Mexico is the sixth-largest global passenger vehicle manufacturer, producing approximately three million vehicles annually. Eighty nine percent of vehicles produced in Mexico are exported, with 80 percent destined for the United States. Established automakers in Mexico include Audi, Baic Group, BMW, Stellantis (made up of FCA and PSA Group), Ford, General Motors, Honda, Kia, Mazda, Nissan, Toyota, and Volkswagen.

Mexico is the sixth-largest manufacturer of heavy-duty vehicles for cargo, with 14 manufacturers and assemblers of buses, trucks, tractor trucks and engines through 11 manufacturing plants, supporting 18,500 jobs nationwide. Mexico is the leading global exporter of tractor trucks, exporting 94.5 percent of its production to the United States. Mexico is also the fourth-largest exporter of heavy-duty vehicles for cargo, and the second-largest export market after Canada, for U.S. medium and heavy-duty trucks. Top players include Cummins, Detroit Diesel Allison, Freightliner–Daimler, Kenworth Mexicana, Mack Trucks de México, International-Navistar, Dina Camiones, Scania, Volvo Group VW, Man Truck & Bus, Mercedes-Benz, Hino Motors, and Isuzu Motors.

The Mexican automotive industry is split between the passenger vehicle sector and heavy vehicles for construction and agriculture. Mexico is the seventh-largest passenger vehicle manufacturer in the world, producing nearly four million cars annually. It is also the fifth-largest auto parts producer worldwide with USD 92 billion in revenues annually and the second-largest export market for U.S. auto parts. Mexico is the fifth-largest manufacturer and exporter for heavy and specialized vehicles and parts in the construction and agriculture industries.
Mexico - E. Automotive Parts and Supplies (2022) (ngontinh24.com)