Increasing Mining & Construction Activities in Chile to Drive the Off-the-Road (OTR) Tire Market

According to MarkNtel Advisors, the Chile Off-the-Road (OTR) Tire Market is expecting around 3.23% CAGR during 2021-26. With only a few OEMs (Original Equipment Manufacturers) present, Chile's economy largely relies on imports, to which the mining sector is one of the most prominent contributors. The country has numerous copper & silver mines, owing to which the burgeoning demand for earthmoving & construction equipment is the primary driver of the OTR tire market.

The government of Chile is increasingly investing in the mining sector to improve the existing mines and open new ones. Moreover, the country is also witnessing various construction projects related to roads & railways, residential & commercial buildings, airport expansion, etc. As a result, all these aspects are projecting significantly growing requirements for earthmoving & construction equipment in the country over the forthcoming years. Hence, the demand for OTR tires shall also notably upsurge and, in turn, fuel the overall market growth through 2026, further states the research report, “Chile Off-the-Road (OTR) Tire Market Analysis, 2021.”

Mounting Investments in Various Construction Projects to Boost the Demand for Earthmoving Equipment Tires

The rapidly increasing mining activities, various ongoing infrastructure developments associated with roads & railways, the growing presence of Chinese tires in Chile, and massive investments in various construction projects across Chile are the prime aspects driving the demand for OTR tires for earthmoving equipment like excavators, backhoe loaders, bulldozers, graders, trenchers, etc., for numerous construction-related operations & digging out the earth for foundational work.

Moreover, soaring expenditure by both the government & private sector on enhancing the existing capacity of mines and unlocking new ones is also contributing to the burgeoning demand for earthmoving equipment tires and, in turn, fueling the overall market growth, reveals MarkNtel Advisors in their research report, “Chile Off-the-Road (OTR) Tire Market Analysis, 2021.”

Competitive Landscape

The leading players in the Chile Off-the-Road (OTR) Tire Market include Yokohama Rubber Co., Goodyear Tire & Rubber Company, Bridgestone Corporation, Continental, Michelin Tires, CST, Triangle Group, & Trelleborg.

Key Questions Answered in the Research Report

1. What are the current & future trends in the Chile Off-the-Road (OTR) Tire Market?
2. How has the industry been evolving in terms of geography & product adoption?
3. How has the competition been shaping across Chile, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Chile Off-the-Road (OTR) Tire Market?
5. What are the customer orientation, purchase behavior, & expectations from OTR tire providers across Chile?

Market Segmentation:

1. By Type of Vehicle (Earth Moving Equipment (Excavators, Loaders, Graders, Bulldozers, Road Rollers), Agricultural Equipment (Tractors, Combines, Others), Material Handling Equipment (Cranes, 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 & Rubber Company, Bridgestone Corporation, Continental, Michelin Tires, CST, Triangle Group, Trelleborg)