The Peru Off the Road (OTR) Tire Market is estimated to grow at a CAGR of around 9.95% during the forecast period, i.e., 2021-26.
Key Findings of the Study: Peru Off the Road (OTR) Tire Market
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.
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Scope of the Report and Peru Off the Road (OTR) Tire Market Segmentation
By Type of Equipment
-Earth Moving Equipment
--Excavator
--Grader
--Loader
--Bulldozer
--Road roller
-Material Handling Equipment
--Crane
--Forklifts
-Agricultural Equipment
--Tractor
--Combines
--Others
- Earthmoving Equipment are projected to attain the largest share of the Peru Off-The-Road (OTR) Tire Market through 2026
By End-Users
-Construction
-Industrial
-Mining
-Agriculture
-Ports
By Type of Tire
-Radial
-Bias
By Demand Type
-OEMs
-Aftermarket
By Price Category
-Budget
-Premium
-Economy
By Rim Size
-Up to 20”
-20.1" to 26"
-26.1" to 35"
-35.1" to 47"
-Above 47"
By Region
-North
-West
-South
-East
-Central
Top leading companies in the Peru Off the Road (OTR) Tire Market includes:
Bridgestone, Continental, Michelin, Goodyear, Pirelli, Yokohama, BKT, Mitas Tyres, etc.
For more detailed information about the Peru Off the Road (OTR) Tire market report, click here – https://www.marknteladvisors.com/research-library/peru-off-the-road-tire-market.html
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