Chile Off-the-Road (OTR) Tire Market to Attain a Considerable CAGR during 2021-26

According to MarkNtel Advisors’ research report, “Chile Off-the-Road (OTR) Tire Market Analysis, 2021,” the market is likely to witness a considerable CAGR during the forecast period, i.e., 2021-26. The booming mining sector in the country, increasing demand for the earthmoving & construction equipment tires from the infrastructure & residential sectors, and surging private investments in infrastructure development are the prime factors driving the Chile Off-the-Road (OTR) Tire Market to attain a considerable growth rate. Moreover, the projects lined up by both the government and the private sector entwined with the burgeoning sales of off-highway vehicles are other crucial aspects likely to augment the overall market growth in the forecast period.

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Key Questions Answered in the Study
1. What are the current and future trends of the Chile Off-the-Road (OTR) Tire Market?
2. How has the industry been evolving in terms of end-user demand and application areas?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Chile Off-the-Road (OTR) Tire Market?
5. What are the customer orientation, purchase behavior, and expectations from the Off-the-Road Tire firms across the country?

Earthmoving Equipment Acquired Significant Share of the Chile Off-the-Road (OTR) Tire Market
Based on Vehicle Type, the market bifurcates into Earth Moving Equipment [Excavators, Loaders, Graders, Bulldozers, Road Rollers], Agricultural Equipment [Tractors, Combines, Others], and Material Handling Equipment [Cranes, Forklifts]. Of them all, Earthmoving Equipment acquired a significant market share, i.e., more than 15% in the previous year. The sturdy growth rate primarily owes to the burgeoning mining industry in Chile, significant funding toward road & rail infrastructure, and higher availability of Chinese radial tires in the earthmoving OTR tires segments. Besides, the soaring investments of the government & private sector to improve the existing capacity of the mines and the opening of new mines are other critical aspects further likely to flourish the segment growth during 2021-26.

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“Chile Off-the-Road (OTR) Tire Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for OTR tire providers across the country. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

Radial Tires to Attain the Fastest Growth in the Chile Off-the-Road (OTR) Tire Market
The market segments into two types of tires, viz. Radial and Bias. Of both, Radial Tires are more likely to witness the fastest growth in the Chile Off-the-Road (OTR) Tire Market in the forecast period, i.e., 2021-26. It owes to the burgeoning demand for premium tires used for mining activities across the country. Moreover, the rapidly growing inclination of customers toward radial tires due to its low sidewall technology is another critical aspect likely to fuel the sales overall market growth in the forecast period, states MarkNtel Advisors in their research report, “Chile Off-the-Road (OTR) Tire Market Analysis, 2021.”

According to MarkNtel Advisors, the key players with a considerable share in the Chile Off-the-Road (OTR) Tire Market are Yokohama Rubber Co., Goodyear Tire and Rubber Company, Bridgestone Corporation, Continental, Michelin Tires, CST, Triangle Group, Trelleborg, etc.

Market Segmentation:
1. By Type of Vehicle (Earth Moving Equipment [Excavator, Loaders, Grader, Bulldozer, Road Roller], Agricultural Equipment [Tractor, Combines, Others], Material Handling Equipment [Crane, Forklifts])
2. By End-User (Construction, Industrial, Mining, Agriculture, Ports)
3. By Type of Tire (Radial, Bias)
4. By Demand Type (OEMs, Aftermarket)
5. By Price Category (Premium, Economy, Budget)
6. By Rim Size (Up to 20”, 20.1" to 26", 26.1" to 35", 35.1" to 47", Above 47")
7. By Country (North, South, West),
8. By Company (Yokohama Rubber Co., Goodyear Tire and Rubber Company, Bridgestone Corporation, Continental, Michelin Tires, CST, Triangle Group, Trelleborg, etc.)

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.