Mexico OTR Tire Market, By Application Type (Agriculture, Construction, Mining, Material Handling, Ports, Forestry), By Demand Category (Replacement, OEM), By Rim Size (Upto 25’’, Above 25”) ,By Tire Construction (Radial, Bias), By Company and By Region, Competition Forecast & Opportunities, 2026

  • Industry : Automotive
  • Pages : 89
  • Published Date : May, 2021
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Summary

Report Description

Mexico OTR Tire market was valued USD 989.06 Million in 2020 and is expected to grow at a CAGR of over 8.13%, in value terms, over the next five years to reach USD 1605.17 Million until 2026, on the back of increasing agricultural activities in the country. Factors like growing economy of Mexico is also anticipated to contribute to the expanding market of OTR tires in Mexico. According to the World Bank collection of development indicators, off the total land available to the country, Mexico reported 54.99% as the Agricultural land. The country has varied topographies and appropriate weather conditions offering farmers the opportunity to cultivate more than 200 types of crops in the country. 

According to the statistics of World Bank, Mexico is a major player in Latin American food production and the eighth-largest agricultural crop producer in the world. Other than the appropriate weather conditions, Mexican government provide adequate relevant support to their farmers to grow the agricultural economy. Owing to the suitable weather conditions for farming and as well as the government support to the farmers in the country, the Agriculture sector of the country have witnessed continuous growth over the years. Due to the country’s variety of crops and the massive agricultural land within the borders, the agricultural sector is essential to the country’s trade accounting for almost 4% of its US$ 1.1trillion GDP. Moreover, the agriculture sector of the country employs more than 13% of the country’s 55 million strong workforce. Owing to the suitable weather conditions for farming and as well as the government support to the farmers in the country, the Agriculture sector of Mexico have witnessed continuous growth over the years. To make the Agriculture sector more efficient, the country is increasingly modifying their ways to introduce effective manners and machineries to reduce the labour hours in the sector. To do so, various types of advanced OTR vehicles are increasingly become popular among the famers of the country. OTR vehicles such as 4WD and track tractors, scrapers, corn heads, drawn planters, disk harrows, vertical tillage and balers are being well accepted in the country, with their annual sales witnessing continuous rise over the past years. Since, advanced OTR vehicles used for agricultural purposes are equipped with OTR tires, so on the back of growing agricultural economy of the country OTR Tire Market in Mexico have witnessed growth over the past years and the same is expected in the forecast years as well.

The COVID-19 pandemic has adversely impacted the Mexico OTR Tire Market, due to the pandemic production statistics of OTR vehicles in Mexico in 2020 have shown a steep decline as a result sale of which OTR tires sales have also dropped down in the same year. From 2021, the market is showing the positive signs and is estimated to recover in around 2 years. 

Some of the major players operating in Mexico OTR Tire market are Pirelli Neumáticos de México, S.A. de C.V., Michelin Industrias, S.A. de C.V., Goodyear Commercial Services, S. de RL de CV, Bridgestone de México, S.A. de C.V., Continental Tire de México S.A. de C.V., Hankook Tire de Mexico, S.A de C.V., Cooper Tire & Rubber Co. de Mexico SA de CV, Yokohama Tire Mexico (YTMX), Westlake México (Hangzhou Zhongce Rubber Company), NT MEXICO S. DE R.L. DE C.V (México) (Toyo Tires)

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

Objective of the Study:

  • To analyse historical growth in market size of Mexico OTR Tire Market from 2016 to 2020.
  • To estimate and forecast the market size of Mexico OTR Tire Market in terms of value as well as volume from 2021 to 2026 and growth rate until 2026.

·         To assess the demand-supply scenario of Mexico OTR Tire Market which covers their production, demand, supply, and net inventory status globally.

·         To classify and forecast Mexico OTR Tire Market based on Application Type, Demand Category, Rim Size, Tire Construction, Company and regional distribution.

·         To identify drivers and challenges for Mexico OTR Tire Market.

·         To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Mexico OTR Tire Market.

·         To conduct the pricing analysis for Mexico OTR Tire Market.

·         To identify and analyze the profile of leading players involved in the manufacturing of Mexico OTR Tire Market.

 


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To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of OTR Tire manufacturers and dealers operating in Mexico. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analysed product offerings, distribution channels, and regional presence of all major OTR Tire suppliers across the country.

TechSci Research calculated the market size for Mexico OTR Tire Market using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

·         Technology investors

 

·         Governments and financial institutions

 

·         End users of commercial aircrafts

 

  • Research organizations and consulting companies.

 

  • Research Institutes

 

·         Associations, organizations, forums, and alliances related to OTR Tires.

 

·         OTR Tire manufacturing companies

 

  • Industry associations

 

  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as OTR Tire manufacturers, distributors and dealers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Mexico OTR Tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Mexico OTR Tire Market, by Application Type:
    • Agriculture
    • Construction
    • Mining
    • Ports
    • Material Handling
    • Forestry
  • Mexico OTR Tire Market, by Demand Category:
    • OEM
    • Replacement
  • Mexico OTR Tire Market, by Rim Size:
    • Upto 25"
    • Above 25"
  • Mexico OTR Tire Market, by Tire Construction:
    • Bias
    • Radial
  • Mexico OTR Tire Market, by Region:
    • Ciudad de México
    • Nuevo León
    • Jalisco
    • Tamaulipas

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Mexico OTR Tire Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to the company’s specific needs. The following customization options are available for the report:

Raw Material Analysis

  • Detailed list of different raw materials used in production of OTR Tires, list of existing suppliers of raw materials, pricing analysis of raw materials, analysis of difference between imported and domestically procured raw materials.

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

Table of content

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Mexico OTR Tire Market

4. Executive Summary

5. Voice of Customer

            5.1. Factors Influencing Purchase Decision

            5.2. Influencer of Purchase

            5.3. Aided and Unaided Brand Recall

6. Mexico OTR Tire Market Outlook

            6.1. Market Size & Forecast

                        6.1.1. By Value & Volume

            6.2. Market Share & Forecast

                        6.2.1. By Application Type (Agriculture, Construction, Mining, Material Handling, Ports, Forestry and Others {Terrain Vehicles, Sports Vehicles, etc.})

                        6.2.2. By Demand Category (OEM, Replacement)

                        6.2.3. By Rim Size (Up to 25” and Above 25”)

                        6.2.4. By Tire Construction (Radial, Bias)

                        6.2.5 By Region (Ciudad de México, Nuevo León, Jalisco, Tamaulipas, Rest of Mexico)

                        6.2.6. By Company (2020)

            6.3. Pricing Analysis

            6.4. Market Map

7. Mexico Agriculture Vehicles Tire Market Outlook

            7.1. Market Size & Forecast

                        7.1.1. By Value & Volume

            7.2. Market Share & Forecast

                        7.2.1. By Demand Category

                        7.2.2. By Rim Size

                        7.2.3. Prominent Tire Size

8. Mexico Construction Vehicle Tire Market Outlook

            8.1. Market Size & Forecast

                        8.1.1. By Value & Volume

            8.2. Market Share & Forecast

                        8.2.1. By Demand Category

                        8.2.2. By Rim Size

                        8.2.3. Prominent Tire Size

9. Mexico Mining Tire Market Outlook

            9.1. Market Size & Forecast

                        9.1.1. By Value & Volume

            9.2. Market Share & Forecast

                        9.2.1. By Demand Category

                        9.2.2. By Rim Size

                        9.2.3. Prominent Tire Size

10. Mexico Material Handling Tire Market Outlook

            10.1. Market Size & Forecast

                        10.1.1. By Value & Volume

            10.2. Market Share & Forecast

                        10.2.1. By Demand Category

                        10.2.2. By Rim Size

                        10.2.3. Prominent Tire Size

                        10.2.4. By Tire Type (Solid Pneumatic & Air-Filled Pneumatic)

11. Mexico Port Tire Market Outlook

            11.1. Market Size & Forecast

                        11.1.1. By Value & Volume

            11.2. Market Share & Forecast

                        11.2.1. By Demand Category

                        11.2.2. By Rim Size

                        11.2.3. Prominent Tire Size

12. Mexico Forestry Vehicle Tire Market Outlook

            12.1. Market Size & Forecast

                        12.1.1. By Value & Volume

            12.2. Market Share & Forecast

                        12.2.1. By Demand Category

                        12.2.2. By Rim Size

                        12.2.3. Prominent Tire Size

13. Mexico Others (Terrain Vehicles, Sports Vehicles, Others) Tire Market Outlook

            13.1. Market Size & Forecast

                        13.1.1. By Value & Volume

14. Market Dynamics

            14.1. Drivers

            14.2. Challenges

15. Market Trends and Development

16. Policy and Regulatory Landscape

17. Mexico Economic Profile

18. Competitive Landscape

18.1. Bridgestone de México, SA de CV

18.2. Industrias Michelin, S.A de C.V.

18.3. Hankook Tire de Mexico, S.A de C.V.

18.4. Goodyear Servicios Comerciales, S. de R.L. de C.V.

18.5. PIRELLI NEUMÁTICOS DE MÉXICO, SA DE CV

18.6. Continental Tire de Mexico S.A. de C.V.

18.7. Yokohama Tire Mexico(YTMX)

18.8. NT MEXICO S. DE R.L. DE C.V(México)(Toyo Tires)

18.9. Cooper Tire de México

18.10. Westlake México(Hangzhou Zhongce Rubber Company)

19. Strategic Recommendations

20. About Us & Disclaimer

Figures and Tables

Figure 1: Mexico OTR Tire Market - Factors Influencing Purchase Decision (N=100)

Figure 2: Mexico OTR Tire Market - Influencer of Purchase (N=100)

Figure 3: Mexico OTR Tire Market - Aided Brand Recall (N=100)

Figure 4: Mexico OTR Tire Market - Unaided Brand Recall (N=100)

Figure 5: Mexico OTR Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 6: Mexico GDP at Current Prices, 2015-2019 (USD Trillion)

Figure 7: Mexico OTR Tire Market Share, By Application Type, By Volume, 2016-2026F

Figure 8: Mexico OTR Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 9: Mexico OTR Tire Market Share, By Rim Size, By Volume, 2016-2026F

Figure 10: Mexico OTR Tire Market Share, By Tire Construction, By Volume, 2016-2026F

Figure 11: Mexico OTR Tire Market Share, By Region, By Volume, 2016-2026F

Figure 12: Mexico OTR Tire Market Share, By Company, By Volume, 2020

Figure 13: Mexico OTR Tire Market Map, By Application Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 14: Mexico Agriculture OTR Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 15: Percentage of Production Units With Their Own Machinery In Mexico, By Type, 2019

Figure 16: Mexico Agriculture OTR Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 17: Mexico Agriculture OTR Tire Market Share, By Rim Size, By Volume, 2016-2026F

Figure 18: Mexico Construction OTR Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 19: Mexico Production Value Generated By Construction Companies (USD Million), 2016-2020

Figure 20: Mexico Construction OTR Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 21: Mexico Construction OTR Tire Market Share, By Rim Size, By Volume, 2016-2026F

Figure 22: Mexico Mining OTR Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 23: Mexico Mining Production (Tons), 2015-2019

Figure 24:           Mexico Mining OTR Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 25:           Mexico Mining OTR Tire Market Share, By Rim Size, By Volume, 2016-2026F

Figure 26:           Mexico Material Handling OTR Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 27:           Mexico GNI Per Capita (USD Thousand), 2015-2019

Figure 28:           Mexico Material Handling OTR Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 29:           Mexico Material Handling OTR Tire Market Share, By Rim Size, By Volume, 2016-2026F

Figure 30:           Mexico Material Handling OTR Tire Market Share, By Tire Type, By Volume, 2016-2026F

Figure 31:           Mexico Ports OTR Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 32:           Mexico GDP Per Capita (USD Thousand), 2015-2019

Figure 33:           Mexico Ports OTR Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 34:           Mexico Ports OTR Tire Market Share, By Rim Size, By Volume, 2016-2026F

Figure 35:           Mexico Forestry OTR Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 36:           Mexico Primary Forest Extent Remaining and Primary Forest Loss (In Kilo Hectare (Kha) ) (>30% Tree Canopy), 2016-2020

Figure 37:           Mexico Forestry OTR Tire Market Share, By Demand Category, By Volume, 2016-2026F

Figure 38:           Mexico Forestry OTR Tire Market Share, By Rim Size, By Volume, 2016-2026F

Figure 39:           Mexico Others OTR Tire Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 40:           Mexico Population (In Millions), 2015-2019

List of Tables

 

Table 1: Mexico OTR Tire Market, Pricing Analysis, By Application Type, 2020

Table 2: Mexico Agriculture OTR Tire Market, Prominent Tire Size, 2020

Table 3: Mexico Construction OTR Tire Market, Prominent Tire Size, 2020

Table 4: Mexico Mining OTR Tire Market, Prominent Tire Size, 2020

Table 5: Mexico Material Handling OTR Tire Market, Prominent Tire Size, 2020

Table 6: Mexico Ports OTR Tire Market, Prominent Tire Size, 202

Table 7:  Mexico Forestry OTR Tire Market, Prominent Tire Size, 2020

Frequently asked questions

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Agriculture sector of application type Mexico OTR tire segment have the most demand among the applications of OTR tires, as agriculture sector is one of the major economy driven sectors of country.

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Replacement category of demand category segment generates the most demand, but its counterpart Original Equipment Manufacture category of the segment is gaining more popularity over the last few years. The market share of Original Equipment Manufacture category is anticipated to grow at a faster rate in the next five years

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Due to the growing demand for OTR Vehicles in Ciudad de México, the region witnessed the highest sales of OTR Tires in 2020 by volume and the same is expected in the forecast years as well.

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Bridgestone de México, SA de CV and Industrias Michelin, S.A de C.V. are the among the major market leaders in OTR market of Mexico, with both the companies collectively accounting for around 35% market share in Mexico OTR Tire market. These companies have their distributor & dealer network widely spread across the country and are generating good revenue as compared to other companies operating in the country

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Srishti Verma

Business Consultant
Press Release

Mexico OTR Tire Market to Grow at 8.13% CAGR in Value Terms by 2026

May, 2021

Continuously evolving manufacturing industry and continuous demand for OTR vehicles to drive the Mexico OTR tire market through 2026.

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