The Uruguay Off the Road (OTR) Tire Market is estimated to grow at a CAGR of around 5.11% during the forecast period, i.e., 2021-26.
Key Findings of the Study: Uruguay Off the Road (OTR) Tire Market
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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Scope of the Report and Uruguay 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
- Agriculture segment Dominated the market
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″
Top leading companies in the Uruguay Off the Road (OTR) Tire Market includes:
Bridgestone, MAXAM tires, Techking Tires Ltd., Balkrishna Industries Limited (BKT), Continental AG, Fabrica Uruguaya de Neumaticos S.A. (FUNSA), Triangle, Others
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