The Ecuador Off the Road (OTR) Tire Market is estimated to grow at a CAGR of around 2% during the forecast period, i.e., 2021-26.
Key Findings of the Study: Ecuador Off the Road (OTR) Tire Market
Market Driver – Positive Mining Growth to Boost the Market
Mining is one of the essential areas with the most elevated development projection in Ecuador. The country aims to make the mining sector one of the crucial pillars of its economy and attract foreign investment by introducing various projects in the next decade. In 2016, the country had around 790 thousand hectares under concession to mining companies, and in 2018 it reached 3 million hectares. The mining industry of the country is becoming the most prominent investment destinations. Various foreign companies are investing in the country such as Anglo American, BHP, Grupo México, and Lumina Gold. The rising investments would generate an increased demand for OTR tires in the years to come.
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Scope of the Report and Ecuador 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 to Hold Dominant Market Share
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 Ecuador Off the Road (OTR) Tire Market includes:
Bridgestone, Continental, Michelin, Goodyear, Pirelli, Yokohama, CST Tire
For more detailed information about the Ecuador Off the Road (OTR) Tire market report, click here – https://www.marknteladvisors.com/research-library/ecuador-off-the-road-tire-market.html
Geographical analysis:
East
West
South
Central
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