Africa Off the Road (OTR) Tire Market to Grow at a CAGR of 7% during 2017 – 2022
Flourishing construction and
agriculture industries coupled with growing mining activities to drive Africa OTR
tire market through 2022
According to TechSci Research report, “Africa OTR Tire Market By Vehicle Type, By
Country, Competition Forecast and Opportunities,
2022”, OTR tire market in Africa is forecast
to grow at a CAGR of around 7% during 2017 – 2022. Based on vehicle type, Africa OTR
tire market has been broadly segmented into Mining, Construction &
Industrial Equipment, Agriculture Vehicles, and Others. Among these categories,
mining, construction & industrial segment dominated Africa OTR tire market
in 2016, and the segment is anticipated to maintain its dominance in Africa OTR
tire market through 2022.
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market data Tables and 27 Figures spread through 63 Pages and an in-depth
TOC on "Africa
OTR Tire Market"
https://www.techsciresearch.com/report/africa-otr-tire-market-by-vehicle-type-mining-construction-industrial-equipment-agriculture-vehicles-and-others-by-country-competition-forecast-and-opportunities/1157.html
African countries have
increased their focus on developing non-oil sectors. Anticipated increase in
investments for strengthening and expanding industrial infrastructure is
expected to boost demand for OTR tires in the region through 2022. Agriculture accounts
for about 24% of the continent’s GDP, and agriculture-related industries
account for nearly half of all economic activities in Africa. With growing
developments in agriculture sector, demand for OTR vehicles in Africa is
expected to increase in the coming years, consequently aiding the region’s OTR
tire market during forecast period.
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“The Africa
region is vastly rich in mineral resources, which include metals such as
platinum group metals, chromite ores, phosphate rock reserves, cobalt, etc.
High mining exploration potential in Africa requires deployment of mining
equipment, which is expected to drive the demand for OTR tire during forecast
period.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Africa OTR Tire Market By
Vehicle Type, By Country, Competition
Forecast and Opportunities, 2022” has analyzed the potential of Africa OTR tire market, and
provides information and statistics on market structure, imports and trends.
The report intends in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. The report
also identifies and analyzes emerging trends along with essential drivers and
key challenges faced by the industry.
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