Shibuya-ku, Tokyo, Japan, Japan, Oct 19, 2021, 05:41 /Comserve / -- According to MarkNtel Advisors’ research report, “Chile Off-the-Road (OTR) Tire Market Analysis, 2021,” the Chile Off-the-Road (OTR) Tire Market is likely to grow at a CAGR of 3.23% during 2021-26.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
According to MarkNtel Advisors’ research report, “Chile Off-the-Road (OTR) Tire Market Analysis, 2021,” the Chile Off-the-Road (OTR) Tire Market is likely to grow at a CAGR of 3.23% during 2021-26. The market growth attributes to burgeoning government investment in the mining sector, the rising demand for tractors, and the increasing spending toward various agricultural programs to boost farm mechanization. Chile is an import-driven country with no OEMs in the country. Moreover, snowballing investments in the construction sector are increasing the demand for numerous construction vehicles, which, in turn, is likely to fuel the overall market growth.
The Chile Off-the-Road (OTR) Tire Market witnessed a diminishing demand in the second and third quarters of the previous year due to the lockdown imposition, which caused supply chain disruptions. Since the Chile Off-the-Road (OTR) Tire Market is import-dominated, it experienced a sudden downfall due to the temporary yet sudden halt in the construction & mining activities. However, the economic resumption in Chile in 2021 has earmarked significant growth, hence with the gradual upliftment of lockdown & ease of norms, the demand for OTR tires is likely to surge in Chile during the coming years.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Chile Off The Road (OTR) Vehicle Tire Market Insights by Emerging Trends, Future Growth, Revenue Analysis, Demand Forecast (2021-2026)
After Market Segment Dominated the Chile Off-the-Road (OTR) Tire Market
Based on Demand Type, the market bifurcates into OEM and Aftermarket. Here, the Aftermarket segment dominated the market in the previous few years due to the absence of OEMs in the country and the surging construction activities to boost the country's economy. Moreover, various infrastructural development projects by the government and increasing customer expenditure on new machinery & equipment are other critical aspects fueling the overall market growth during the forecast period, reveals MarkNtel Advisors in their research report, “Chile Off-the-Road (OTR) Tire Market Analysis, 2021.”
Agricultural Equipment Accounted for Largest Share of 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]. Here, Agricultural equipment, viz. tractors, combines, etc., accounted for the largest market with more than 50% market share. The rising government investment to introduce various innovative projects in agriculture like farm equipment programs, burgeoning investments in the commercial farming sector, and the increasing agricultural mechanization are the prime factors likely to promulgate the market demand for agricultural equipment tires during the coming years.
Burgeoning Government Investment in Infrastructural Development
The infrastructure sector in Chile has shown promising growth with surging investments and has boosted the demand for OTR tires. The extensive investment made by the government in rail & road projects, aviation, and port infrastructure projects is likely to fuel the OTR tire market in the country. Besides, increasing spending towards hydropower projects due to rising demand for power owing to growing industrialization and thriving residential & commercial construction are also likely to fuel the market growth in the forecast period.
Fill This Form and get the Sample Copy of This Report: https://www.sdki.jp/sample-request-115368
The Final Report will cover the impact analysis of COVID-19 on this industry: Chile Off The Road (OTR) Vehicle Tire Market Insights by Emerging Trends, Future Growth, Revenue Analysis, Demand Forecast (2021-2026)
Competitive Landscape
According to MarkNtel Advisors, the key players with a considerable share in the Chile Off-the-Road (OTR) Tire Market include Yokohama Rubber Co., Goodyear Tire and Rubber Company, Bridgestone Corporation, Continental, Michelin Tires, CST, Triangle Group, Trelleborg, etc.
Key Questions Answered in the Market Research Report:
1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Chile Off-the-Road (OTR) Tire Market?
2. What are the region-wise industry size, growth drivers, and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations in Chile Off-the-Road (OTR) Tire Market?
4. Who are the key competitors or market players, and how they perform in the Chile Off-the-Road (OTR) Tire Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during Chile Off-the-Road (OTR) Tire Market study?
TABLE OF CONTENT
1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Assumptions
1.4. Market Segmentation
2. Executive Summary
3. Impact of COVID-19 on Chile OTR Tire Market
4. Chile Off the Road (OTR) Vehicle Tire Market Analysis, 2016-2026F
4.1. Market Size & Analysis
4.1.1. Market Revenue
4.1.2. Units Sold
4.2. Market Share & Analysis
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