MarkNtel Advisors recently published a detailed industry analysis of the Brazil Off the Road (OTR) Tire Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Brazil Off the Road (OTR) Tire Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Brazil Off the Road (OTR) Tire Market size was valued at around USD 880.5 million in 2023 and is projected to reach about USD 949.4 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 1.08% during the forecast period, i.e., 2024-30.
What are the major Driver the Brazil Off the Road (OTR) Tire industry?
Increasing Residential & Commercial Infrastructure Projects Propelling Market Growth – The increasing demand for housing and accommodation is augmenting the development of flats, housing homes, villas, etc., across urban areas. Similarly, the construction of numerous commercial spaces, which include offices, shopping malls, cafes, and many others, is surging extensively in the country because of the growing populace. Moreover, the growing government initiatives in the direction of infrastructure improvement are key to the development of schools, hospitals, and different recreational facilities in Brazil. For instance,
In 2023, the Brazilian government announced the launch of the Great Public Works Program for national development, with infrastructure projects in the main areas of the country such as transportation, urban development, social infrastructure, water, communications, and energy.
All these infrastructure and construction activities in the residential and commercial sectors are generating a tremendous demand for various construction machinery and equipment. Machines like road rollers, loading trucks, etc., rely on heavy and durable OTR tires for functioning, which ultimately gives rise to the OTR tire demand. Moreover, the urbanization trend in Brazil, driven by the growth of cities and the expansion of road and railway networks, upsurges the demand for OTR tires for trucks, excavators, and bulldozers engaged in road construction and maintenance activities, creating the demand for OTR tires and augmenting the growth & expansion of the Brazil OTR Tire Market.
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What segments define the Brazil Off the Road (OTR) Tire market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
- By Type of Equipment
- Earth Moving Equipment- Market Size & Forecast 2019-2030F (Thousand Units)
- Material Handling Equipment- Market Size & Forecast 2019-2030F (Thousand Units)
- Agricultural Equipment- Market Size & Forecast 2019-2030F (Thousand Units)
- By End-Users
- Construction- Market Size & Forecast 2019-2030F (Thousand Units)
- Industrial- Market Size & Forecast 2019-2030F (Thousand Units)
- Mining- Market Size & Forecast 2019-2030F (Thousand Units)
- Agriculture- Market Size & Forecast 2019-2030F (Thousand Units)
- Ports- Market Size & Forecast 2019-2030F (Thousand Units)
According to report, Here, the ports segment has acquired a prominent market share in the Brazil Off-the-Road (OTR) Tire Market in recent years and is expected to prevail in the same market trend during the forecast period.
- By Type of Tire
- Radial- Market Size & Forecast 2019-2030F (Thousand Units)
- Bias- Market Size & Forecast 2019-2030F (Thousand Units)
- By Demand Type
- OEMs- Market Size & Forecast 2019-2030F (Thousand Units)
- Aftermarket- Market Size & Forecast 2019-2030F (Thousand Units)
According to report, Of them both, the aftermarket segment held the largest market share in recent years and is anticipated to continue its dominance during the forecast period.
- By Price Category
- Budget- Market Size & Forecast 2019-2030F (Thousand Units)
- Premium- Market Size & Forecast 2019-2030F (Thousand Units)
- Economy- Market Size & Forecast 2019-2030F (Thousand Units)
- By Sales Channel
- Direct Sales- Market Size & Forecast 2019-2030F (Thousand Units)
- Online- Market Size & Forecast 2019-2030F (Thousand Units)
- Multi Brand Stores- Market Size & Forecast 2019-2030F (Thousand Units)
- Exclusive Outlets- Market Size & Forecast 2019-2030F (Thousand Units)
- By Tire Size
- Tire Size 1- Market Size & Forecast 2019-2030F (Thousand Units)
- Tire Size 2- Market Size & Forecast 2019-2030F (Thousand Units)
- Tire Size 3- Market Size & Forecast 2019-2030F (Thousand Units)
- Tire Size 4-Market Size & Forecast 2019-2030F (Thousand Units)
- Tire Size 5- Market Size & Forecast 2019-2030F (Thousand Units)
Explore the Complete Brazil Off the Road (OTR) Tire Market Analysis Report – https://www.marknteladvisors.com/research-library/brazil-otr-tire-market.html
Geographical Analysis: Brazil Off the Road (OTR) Tire Market
- Northeast
- South
- Southeast
- Central-West
Brazil Off the Road (OTR) Tire Market Share & Competitive Landscape:
The Brazil Off the Road (OTR) Tire Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Brazil Off the Road (OTR) Tire Market are:
- Pirelli
- Goodyear Tire and Rubber Company
- Bridgestone Corporation
- Continental
- Michelin Tyres
- Triangle Group
- Titan
- Toyo Tire Corporation
- Trelleborg
- Kumho Tire
Questions Addressed in this Study
1.What factors are driving the Brazil Off the Road (OTR) Tire Market growth?
2.How is the Brazil Off the Road (OTR) Tire Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Brazil Off the Road (OTR) Tire Market?
4.What is the current size of the Brazil Off the Road (OTR) Tire Market, and how is it projected to change in the future?
6.What is the future outlook for the Brazil Off the Road (OTR) Tire Market in terms of technological advancements and market expansion?
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