Brazil Off the Road (OTR) Tire Market Growth, Key Trends & Factor Driving Industry Till 2030

Markntel Advisors’ report, Brazil Off the Road (OTR) Tire Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Brazil Off the Road (OTR) Tire presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Brazil Off the Road (OTR) Tire Market Research Report Market Summary:

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. The increasing demand and sales of various heavy-duty and off-the-road vehicles in the country are the prominent factors augmenting market growth. Heavy-duty vehicles such as trucks, loaders, reach stackers, and special vehicles at ports or underground mining, etc., require high-quality and rigid OTR tires to function, which is propelling their adoption in the country.

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Brazil Off the Road (OTR) Tire Market Dynamics:

Key Driver-

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.

Brazil Off the Road (OTR) Tire Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

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)

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)

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)

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 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)

By Region

Northeast
South
Southeast
Central-West.

As indicated in the latest market research report published by Markntel Advisors, “Brazil Off the Road (OTR) Tire Research Report: Forecast (2024-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Brazil Off the Road (OTR) Tire industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

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Top Companies Operating in the Brazil Off the Road (OTR) Tire Market:

Pirelli
Goodyear Tire and Rubber Company
Bridgestone Corporation
Continental
Michelin Tyres
Triangle Group
Titan
Toyo Tire Corporation
Trelleborg
Kumho Tire
Others

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Key Report Highlights:

Market Dimensions Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

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