Chile Off The Road (OTR) Vehicle Tire

Chile Off The Road (OTR) Vehicle Tire Market Research Report: Forecast (2021-2026)

By Type of Vehicle (Earth Moving Equipment (Excavators, Loaders, Graders, Bulldozers, Road Rollers), Agricultural Equipment (Tractors, Combines, Others), Material Handling Equipment (Cranes, Forklifts Read more

  • Tire
  • Jul 2021
  • 103
  • TR44009

Market Definition

Off-the-Road (OTR) Tires are used majorly in heavy commercial vehicles like tractors, cranes, forklifts, bulldozers, & golf carts, among others. They offer high-quality grip on surfaces like mud, sand, gravel, etc., along with deep & open treads to support the vehicle's movement. The OTR tire industry in Chile is driven by the growing number of construction, mining, & agricultural activities in the country.

Chile's tire industry is dependent entirely on the aftermarket category, owing to the absence of automobile OEMs in the country. Favorable policies & reforms are positively impacting the construction sector in the country, i.e., driven primarily by increasing foreign investments. It, in turn, is leading to soaring requirements for earthmoving & construction equipment to suffice the growing number of construction, mining, & agricultural activities, thereby fueling the demand for OTR tires and driving the tire industry.

Market Insights

The Chile Off-the-Road (OTR) Tire Market is expected to grow at around 3.23% CAGR during the forecast period, i.e., 2021-26. The growth of the market is driven primarily by the mounting demand for earthmoving & construction equipment tires for infrastructural & residential construction activities in the country, coupled with massive investments by the government of Chile in the mining sector and construction activities associated with roads, railways, residential & commercial buildings, seaport & airport expansion, etc. Moreover, the burgeoning requirement for tractors and the increasing expenditure on various agricultural programs to boost farm mechanization are also driving the market.

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR(2021-26) 3.23%
Key Companies Profiled Yokohama Rubber Co., Goodyear Tire and Rubber Company, Bridgestone Corporation, Continental, Michelin Tires, CST, Triangle Group, Trelleborg, etc.
Unit Denominations USD Million/Billion

 

Chile is an import-driven country with limited OEMs (Original Equipment Manufacturers). The mining sector is one of the most prominent industries in the country, with a myriad of Copper & Silver mines that generate significant demand for OTR tires for earthmoving & construction equipment. There are various upcoming projects & notable investments planned for the mining industry, which would boost the demand for earthmoving equipment tires in Chile and drive the market over the forecast period. For instance:

  • El Peñón mining project was started by Yamana Gold in the Antofagasta region with a total cost of USD 484 million, and around USD 295 million is to be spent in the coming 5 years.

Impact of Covid-19 on the Chile Off-the-Road (OTR) Tire Market

With the advent of Covid-19 in 2020, the Chile Off-the-Road (OTR) Tire Market observed a demand slump due to a halt in economy generating activities like construction & mining, coupled with supply chain disruptions among the major OTR tire manufacturing countries. Moreover, the market witnessed a further decline in its growth due to the reducing demand for raw materials like copper, silver, etc.

However, with the gradually decreasing Covid-19 cases and upliftment of restrictions, the demand for OTR tires witnessed a substantial hike in 2021, owing to the economic normalization and resumed requirement for construction equipment & earthmovers.

 

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    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
    1. Market Size & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Share & Analysis
      1. By Type of Equipment
        1. Earth Moving Equipment
          1. Excavator
          2. Grader
          3. Loader
          4. Bulldozer
          5. Road roller 
        2. Material Handling Equipment
          1. Crane
          2. Forklifts
        3. Agricultural Equipment
          1. Tractor
          2. Combines
          3. Others
      2. By End-Users
        1. Construction
        2. Industrial
        3. Mining
        4. Agriculture
        5. Ports
      3. By Type of Tire
        1. Radial
        2. Bias
      4. By Demand Type
        1. OEMs
        2. Aftermarket
      5. By Price Category
        1. Budget
        2. Premium
        3. Economy
      6. By Rim Size
        1. Up to 20”
        2. 20.1" to 26"
        3. 26.1" to 35"
        4. 35.1" to 47"
        5. Above 47"
      7. By Region
        1. North
        2. West
        3. South
      8. By Competitors
        1. Competition Characteristics
        2. Units Sold, By Competitors
        3. Competitive Metrix
  5. Chile Earthmoving Equipment Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Share & Analysis
      1. By End Users
      2. Type of Tire
      3. Demand Type
      4. Price Category
      5. Rim Size
      6. By Region
  6. Chile Material Handling Equipment Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Share & Analysis
      1. By End Users
      2. Type of Tire
      3. Demand Type
      4. Price Category
      5. Rim Size
      6. By Region
  7. Chile Agricultural Equipment Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Share & Analysis
      1. By End Users
      2. Type of Tire
      3. Demand Type
      4. Price Category
      5. Rim Size
      6. By Region
  8. Chile Off the Road (OTR) Vehicle Tire Market Trends & Insights
  9. Chile Off the Road (OTR) Vehicle Tire Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  10. Chile Off the Road (OTR) Vehicle Tire Market Policy & Regulations
    1. Import Tariff
    2. Anti- Dumping Duties
    3. Rubber or Carbon Norms
  11. Chile Off the Road (OTR) Vehicle Tire Market Import Export Statistics
  12. Chile Off the Road (OTR) Vehicle Tire Market Hotspot & Opportunities
  13. Chile Off the Road (OTR) Vehicle Tire Market Key Strategic Imperatives for Success & Growth
  14. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Specialization
      3. Target Markets
      4. Target End Users
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Yokohama Rubber Co.
      2. Goodyear Tire and Rubber Company

      3. Bridgestone Corporation

      4. Continental

      5. Michelin Tires

      6. CST

      7. Triangle Group

      8. Trelleborg, etc.

  15. Disclaimer
Chile Off The Road (OTR) Vehicle Tire Market Segmentation
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