Market Research Report
Mexico OTR Tire Market, By Application Type, By Demand Category, By Rim Size,By Tire Construction, By Company and By Region, Competition Forecast & Opportunities, 2026
|Published by||TechSci Research||Product code||1008706|
|Published||Content info||89 Pages
Delivery time: Inquiry
|Mexico OTR Tire Market, By Application Type, By Demand Category, By Rim Size,By Tire Construction, By Company and By Region, Competition Forecast & Opportunities, 2026|
|Published: June 1, 2021||Content info: 89 Pages||
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 Neumaticos de Mexico, S.A. de C.V., Michelin Industrias, S.A. de C.V., Goodyear Commercial Services, S. de RL de CV, Bridgestone de Mexico, S.A. de C.V., Continental Tire de Mexico 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 Mexico (Hangzhou Zhongce Rubber Company), NT MEXICO S. DE R.L. DE C.V (Mexico) (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 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:
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.
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:
Ciudad de Mexico
Company Profiles: Detailed analysis of the major companies present in Mexico OTR Tire Market.
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
Profit Margin Analysis