The Uruguay Off the Road (OTR) Tire Market size is projected to grow at a CAGR of around 5.11% during the forecast period i.e. 2021-26. According to MarkNtel Advisors Study.
Uruguay Off the Road (OTR) Tire Market Driver:
Strong Agriculture Sector: The strong agriculture sector of Uruguay has contributed significantly to the growing demand for agriculture tires, which are used mainly in tractors, seeders, combines, fertilizer spreaders, etc., imported from Brazil, the US, Uruguay, and China. Agriculture makes up about 6% of Uruguay's GDP, which comprises roughly 80% of exports and plays a leading role in Uruguay’s economy. As of 2019, Uruguay was the world’s 6th largest soy exporter and 10th largest rice exporter. This growing agriculture sector of Uruguay, energized by significant investments in forestry, is expected to boost the agriculture activities in the country, which, in turn, would stimulate the demand for agro tires.
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Key Market Reports Highlights
- Market Dimensions Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Uruguay Off the Road (OTR) Tire Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2020
-Historical Period: 2016 to 2019
-Forecast Period: 2021 to 2026
- By Type of Equipment
- Earth Moving Equipment
- Excavator
- Grader
- Loader
- Bulldozer
- Road roller
- Material Handling Equipment
- Crane
- Forklifts
- Agricultural Equipment
- Tractor
- Combines
- Others
- 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"
Competitive Landscapes
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - Bridgestone, MAXAM tires, Techking Tires Ltd., Balkrishna Industries Limited (BKT), Continental AG, Fabrica Uruguaya de Neumaticos S.A. (FUNSA), Triangle, Others. are looking forward to strengthening their market positions.
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We follow a tried-and-tested research methodology that blends top-down and bottom-up approaches to deliver highly accurate market insights. Every report is powered by data triangulation, ensuring well-rounded and validated findings.
From smart sample selection and reliable data collection to in-depth analysis and precise forecasting, our process is designed to minimize error and maximize impact.
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