Chile Off-the-Road (OTR) Tire Market to Surge at an Estimated CAGR of 3.18% During 2025-30

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The Chile Off-the-Road (OTR) Tire Market size was valued at around USD 176 million in 2024 and is projected to reach USD 218 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 3.18% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. Various elements are contributing to the expansion of the off-road tire market in Chile. These elements include, expansion of mining, agricultural, and construction activities, along with advancements in tire technology.

The construction activities are rising dramatically in the country, including the construction of railways, urban residential and commercial buildings, as well as industrial parks. For instance, in 2024, EFE Trenes de Chile, Chile State Railways, awarded two civil work contracts totaling USD 813 million for the Melipilla train project that will connect Melipilla and Santiago. These projects employ multiple heavy machinery such as dumper trucks, bulldozers, and other construction equipment. Thus, with the increasing deployment of these machines, the demand for OTR tires will also increase in the coming years.

Additionally, the increasing expansion of ports in the country is due to the support of the Chilean and international governments, ensuring an adequate space for the rising trade activities in the nation. For instance, the US has planned to modernize the Port of San Antonio into a state-of-the-art facility to meet the modern trade needs. With the expansion of ports and a rise in trade activities, the demand for heavy vehicles and equipment suitable for port activities will also rise. These machines are also dependent on efficient, durable, and high-quality rough-terrain tires, hence generating the demand for off-the-road tires.

Moreover, the country is experiencing technological advancements in heavy-duty off-road vehicles, such as automation and digitalization. Smart rough terrain tires are attached to enhance the automation capabilities of these vehicles and these tires integrate sensors and other smart technologies that can detect and signal the tires’ health to the end-user without much human intervention.

Additionally, the country is focusing on green transition, under which it has planned several targets to reduce the usage of fossil-fuel-based vehicles to green-fuel-based vehicles. The government has declared targets to convert large and small industrial vehicles like trucks and forklifts to be zero-emission vehicles by 2040. The 2040 electromobility targets of the Chilean Government will also provide a favorable environment and various incentives and subsidies to the electric giant vehicle manufacturers. Hence, the transition to electric dumper trucks and heavy EVs will present a growing opportunity for rough-terrain tire manufacturers in Chile, further states the research report, “Chile Off-the-Road (OTR) Tire Market Analysis, 2025.”

Chile Off-the-Road (OTR) Tire Market Segmentation Analysis

Agricultural Equipment Captures the Largest Market Share

Based on the type of equipment segment, the market is further bifurcated into earth-moving equipment, material-handling equipment, and agricultural equipment. In 2024, the agricultural equipment registered dominance in the Chile Off-the-Road Tire Market. The dominance is due to the favorable geographical conditions of Chile for agriculture. The nation is also highly active in exporting agricultural products such as grapes, apples, and blueberries across 180 countries. Thus, rising agricultural activities in the country are resulting in a higher need for agricultural equipment, especially tractors. This is consequently going to generate demand for OTR tires for this equipment.

However, the earth-moving equipment is anticipated to record a higher year-on-year growth during the forecast period. The increasing mining and construction activities have resulted in a higher need for superior quality and highly efficient earth-moving equipment. Earth-movers are a crucial equipment in these industries, helping in the digging, loading, and transporting of material from one place to another. This equipment is attached to OTR tires that are suitable for the harsh conditions of these sites. As the conditions are very rough in mining and construction sites, such as rough terrain, spillage of oils, and more, the wear and tear and damage to the tires also increase. This factor triggers the need for the replacement of harsh-terrain tires very frequently. Thus, the rising number of projects in these industries will trigger the market growth of earth-moving equipment in the country, thereby increasing the demand for OTR tires in this segment in the coming years.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Continental, Yokohama, Bridgestone, Michelin, Pirelli, Triangle Tires, Maxxis Chile, Double Coin, Trelleborg, CST, and Others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value and Volume, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the country?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?