Overview of the Peru Off the Road (OTR) Tire Market: Key Statistics and Trends:
According to the latest report by MarkNtel Advisors, titled “Peru Off the Road (OTR) Tire Market By Type of Equipment (Earthmoving Equipment, Material Handling and Agricultural Equipment), By Demand Type (OEM, Replacement), By Type of Tire (Radial, Bias), By Price Category (Budget, Economy, Premium), By Rim Size (Up to 20”, 20.1” to 26”, 26.1” to 35”, 35” to 47”, Above 47”), By End-User (Construction, Industrial, Mining, Agriculture and Ports), The Peru Off-The-Road (OTR) Tire Market is projected to grow at a CAGR of 9.95% during the forecast period, i.e., 2021-26. The report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.
Peru Off the Road (OTR) Tire Market Growth and Scope:
Base Year: 2020
Forecast Period: 2021-26
Historical Data: 2016-19
CAGR (2021-2026): 9.95%
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Key Driver: Economic Dependence on the Mining Sector
The mining industry has been an essential pillar of Peru's economic development and is the top export sector with 10% of the country's GDP & 60% of its exports. It attributes to the country consisting of a wealth of mineral resources, is the world's second-largest producer of copper & silver, and Latin America's largest gold producer.
The demand for OTR tires is anticipated to rise significantly with the surging Peruvian economic reliance on the mining sector and the rapidly increasing number of mining projects. In 2020, the Energy & Mines Ministry declared that the country had 48 under development mining projects, of which 7 were in their first years of construction, including the Mina Justa copper project owned by Grupo Breca, and the rest are likely to begin in the coming five years, which, in turn, shall drive the Peru Off-The-Road (OTR) Tire Market during 2021-26.
A Comprehensive Analysis of Leading Companies of Peru Off the Road (OTR) Tire Market by MarkNtel Advisors:
- Goodyear
- Triangle Group
- Continental
- Yokohama
- Michelin
- Bridgestone
- BKT
- Others
Key Peru Off the Road (OTR) Tire Market Segmentation:
-By Type of Equipment
- Earthmoving Equipment
- Material Handling Equipment
- Agricultural Equipment
Of them all, Earthmoving Equipment are projected to attain the largest share of the Peru Off-The-Road (OTR) Tire Market through 2026, primarily due to the excellent contribution of construction & mining activities to Peru’s economy.
-By Demand Type
- OEMs
- Aftermarket
The absence of OTR tire manufacturers (OEMs) in the country is the prime reason behind the dominance of aftermarket tires in the market with numerous distributors offering replacement services.
Explore Our Comprehensive Study: https://www.marknteladvisors.com/research-library/peru-off-the-road-tire-market.html
-By End-Users
- Construction
- Industrial
- Mining
- Agriculture
- Ports
-By Type of Tire
- Radial
- Bias
-By Price Category
- Budget
- Premium
- Economy
-By Rim Size
- Up to 20”
- 1" to 26"
- 1" to 35"
- 1" to 47"
- Above 47"
Geographical Analysis
-By Region
- North
- West
- South
- East
- Central
Key Reports 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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Key Advantages of the Report by MarkNtel Advisors:
- Accurate Revenue Projections: The report provides precise revenue estimates for the market and its key sub segments, benefiting both market leaders and new entrants.
- Strategic Insights for Stakeholders: By understanding the competitive landscape, stakeholders can strategically position their businesses and develop effective go-to-market strategies.
- Comprehensive Market Dynamics Analysis: The report offers valuable insights into the key drivers, restraints, challenges, and opportunities within the market, helping stakeholders make well-informed decisions.
Note: If you need additional information not included in the report, we can customize it to suit your requirements.
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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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