Mexico Off the Road (OTR) Tire Industry Forecast: Key Players and Growth Analysis 2021-2026

Mexico Off the Road (OTR) Tire Market Projected to Expand at 2.88% CAGR Through 2026

According to the MarkNtel Advisors' research report, "Mexico Off-the-Road Tire (OTR) Market Analysis, 2021," the market is likely to grow at a CAGR of around 2.88% during 2021-26. The Mexican OTR tire market is an import-dependent industry with an absence of OTR tire production units. The upsurge of the Mexico OTR tire market attributes to the expanding fleet size and increasing sales of Off-highways vehicles. Further, the significantly rising demand for agriculture, construction, & mining machinery is ready to boost the OTR tires market during the forecast period, i.e., 2021-2026. The growing mining activities and the significant deployment of vehicles like earthmoving equipment are further likely to escalate the market growth rate.

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Strategic Takeaways from the Report:

Market Sizing and Forecasting
Regulatory and Policy Influence
Competitive Trends and M&A Activity
Innovation Drivers and Disruptive Technologies
Investment Hotspots and Emerging Niches
Geographical Dynamics and Trade Flows

Mexico Off the Road (OTR) Tire Market Segment Overview & Classification

This market is categorized to offer targeted insights across various operational and consumer-related verticals.

Segment List:

By Type of Equipment

Earth Moving Equipment
- Excavator
- Grader
- Loader
- Bulldozer
- Road roller
Material Handling Equipment
- Crane
- Forklifts
Agricultural Equipment
- Tractor
- Combines
- Others

Based on the Type of Equipment, the Mexico OTR tire market segments into three main categories, Earthmoving Equipment, Material Handling Equipment, and Agriculture Equipment Tires. Among these, Earthmoving Equipment Tires captured the largest share in the Mexico Off-the-Road (OTR) Tire market due to the surging mining activities across the country. Further, the rising government initiatives have boosted construction & manufacturing activities, which has positively impacted the demand for warehouses. It shall further propel the sales of earthmoving & material handling equipment tires and fuel the overall market growth in the coming years, states MarkNtel Advisors in their research report, "Mexico Off-the-Road Tire (OTR) Market Analysis, 2021."

By End-Users

Construction
Industrial
Mining
Agriculture
Ports

Based on the End-User, the market segments are Construction, Industrial, Mining, Agriculture, and Ports. Among these segments, the Construction sector held the largest share in the Mexico Off-the-Road (OTR) Tire Market. However, the same has seen significant uncertainties in the previous few years, especially during 2016-2018, due to some political disturbances. But, with the new government taking the helm, some major construction projects, which got stalled, have recently restarted at a rapid pace. Hence, the surge in construction projects is likely to boost the requirement for earthmoving equipment, thereby surging the demand for OTR tires used in the construction sector.

By Type of Tire

Radial
Bias

By Demand Type

OEMs
Aftermarket

By Price Category

Budget
Premium
Economy

By Rim Size

Up to 20”
1" to 26"
1" to 35"
1" to 47"
Above 47".

These divisions help clarify demand patterns and expected shifts.

Market Opportunities

Growing Construction & Mining Sector - The construction sector in Mexico has witnessed steady growth in the past few years. The surging industrial, manufacturing, and construction projects in the country are also a few factors contributing to the Mexico Off-the-Road (OTR) tire market growth. In the coming years, some notable mining projects to induce demand for industrial equipment and OTR tires in Mexico include Juanicipio for silver & gold in Zacatecas state, Sonora project for lithium, Buenavista Zinc project for Zinc mining, etc.

Mexico Off the Road (OTR) Tire Market Competitive Snapshot from 2021-2026

The report highlights established and emerging players in the global Mexico Off the Road (OTR) Tire Market, evaluating their strengths, challenges, and potential for innovation.

Key Competitors Include:

Goodyear
Pirelli
Continental
Yokohama
Michelin
Bridgestone
CST
Double Coin
Triangle Tires
Zhongce Rubber.

Their activities include partnerships, product launches, and geographic expansions.

Frequently Asked Questions (FAQs):

What industries are most impacted by this market?
How is technology reshaping operations and offerings?
Which competitors dominate the landscape?
What risks could disrupt market expansion?
How should businesses respond to demand fluctuations?

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