South America OTR Tire Market to Grow at 11% during 2017 – 2022
Flourishing construction and
agriculture industries coupled with growing replacement demand to drive South
America OTR tire market through 2022
According to TechSci Research report, “South
America OTR Tire Market By Vehicle Type, By Country, Competition Forecast
& Opportunities, 2022”, the OTR tire market in South America is forecast to grow
at a CAGR of 11% during 2017-2022. With large-scale development
activities in South America, especially in construction, mining and industrial
sectors, the demand for OTR tires is increasing. Other prominent factors aiding the
region’s OTR market is government support in the form of tax subsidies and incentive
policies for infrastructure development and megaprojects across the region.
Browse 6 market data Tables and 21 Figures spread
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Mining, construction & industrial
equipment dominated South America OTR tire market in 2016, and the segment is expected to
maintain its dominance over the next five years as well. Country-wise, Brazil
was the largest consumer of OTR tire in the region during 2012 – 2016. Some of the major players
operating in South America OTR tire market are Continental Aktiengesellschaft,
Compagnie Générale des Établissements Michelin, Bridgestone Corporation, The
Yokohama Rubber Co., Ltd, Sumitomo Rubber Industries, Ltd, Toyo Tire &
Rubber Company, Hangzhou Zhongce Rubber Co. Ltd., Triangle Tyre Co. Ltd, CEAT
Limited, etc.
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“South America is one of the
leading players in the global agricultural sector and accounts for
approximately 10% of the world’s agricultural product export. South America
also has many commercial farms, especially in Argentina, Brazil, Chile,
Uruguay, and Colombia. Agriculture is one of the most dynamic sectors of the South
America economy, and the sector registers huge demand for OTR tires for
agriculture vehicles.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“South America OTR Tire
Market By Vehicle Type, By Country, Competition Forecast & Opportunities,
2022” has
analyzed the potential of South America 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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