Growing trending Activities Fuel Demand in the Africa Off the Road (OTR) Tire Market Forecast 2029

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Africa Off the Road (OTR) Tire Market

Africa Off the Road (OTR) Tire Market Overview:

According to MarkNtel Advisors study the Africa Off the Road (OTR) Market is estimated to grow at a CAGR of around 3.5% during the forecast period, i.e., 2024-29. The market growth is accredited to the rising inclination towards increasing government investment in the development of urban areas & surging infrastructure development activities in the region, which require heavy machines in the construction process. The growing demand for OTR tires in the mining, construction, and agriculture sectors augmented government subsidies for farm equipment, and heightened investments in new radial tire manufacturing facilities are the key factors positively influencing the industry’s growth prospects during the forecast period.

Key Findings of the Study: Africa Off the Road (OTR) Tire market

Africa Off the Road (OTR) Market Challenge

Currency Fluctuations Challenges the OTR Tire Affordability in Africa – Currency fluctuations pose a significant challenge in the market for Off the Road (OTR) tires in Africa. These fluctuations can have a profound impact on the cost of importing OTR tires, which, in turn, affects pricing and affordability for local businesses and industries. The OTR Tire Market in Africa often relies on the import of these specialized products, and the prices are typically denominated in foreign currencies.

Given the inherent volatility in currency exchange rates, local buyers may experience sudden and unpredictable cost increases, making it challenging to budget for tire procurement effectively. Hence, instability in currency exchange rates can result in increased production costs and subsequently impact project feasibility and profitability in industries such as mining, construction, and agriculture, which are major consumers of OTR tires.

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Scope of the Africa Off the Road (OTR) Tire Market Report Segmentation

-By Type of Equipment

  • Earth Moving Equipment- Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Material Handling Equipment- Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Agriculture Equipment- Market Size & Forecast 2019-2029F, Units Sold (Thousand)

-By Type of Tire- Market Size & Forecast 2019-2029F, Units Sold (Thousand)

  • Radial – Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Bias- Market Size & Forecast 2019-2029F, Units Sold (Thousand)

-By Demand Type

  • OEM- Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Aftermarket- Market Size & Forecast 2019-2029F, Units Sold (Thousand)

-By Application

  • Construction -Market Size & Forecast 2019-2029F, Unit Sold (Thousand)
  • Industrial -Market Size & Forecast 2019-2029F, Unit Sold (Thousand)
  • Mining-Market Size & Forecast 2019-2029F, Unit Sold (Thousand)
  • Agriculture -Market Size & Forecast 2019-2029F, Unit Sold (Thousand)
  • Ports -Market Size & Forecast 2019-2029F, Unit Sold (Thousand)

-By Rim Size

  • 20”-25”- Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • 26”-35”- – Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • 36”-48” – Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Above 48”- Market Size & Forecast 2019-2029F, Units Sold (Thousand)

-By Season

  • All Season- Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Summer- Market Size & Forecast 2019-2029F, Units Sold (Thousand)

-By Price Category

  • Budget- Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Economy- Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Premium- Market Size & Forecast 2019-2029F, Units Sold (Thousand)

-By Sales Channel

  • Multi-brand & Exclusive Outlets- Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Direct Sales- Market Size & Forecast 2019-2029F, Units Sold (Thousand)
  • Online- Market Size & Forecast 2019-2029F, Units Sold (Thousand)

For more detailed information about the Africa Off the Road (OTR) Tire market report, click here – https://www.marknteladvisors.com/research-library/africa-off-the-road-tire-market.html

Geographical analysis:

-By Country

  • South Africa
  • Nigeria
  • Kenya
  • Algeria
  • Morocco
  • Rest of Africa

South Africa features among the largest mineral producers across the globe. The country has the world’s biggest reserves of platinum & manganese, with large deposits of gold, iron ore, coal, and chrome. Over the past years (2018-2022), the sales of minerals mined in South Africa grew at a CAGR of around 5.3%. These developments are anticipated to act as a major growth driver for OTR tires.

Africa Off the Road (OTR) Industry Recent Development:

  • 2022: Bridgestone Southern Africa (BSAF) announced to acquire OTRACO Southern Africa, Off the Road (OTR) tire management solutions. This acquisition would accelerate the growth of BSAF’s mining solutions business & expand the company’s service network.

Current Landscape of Africa Off the Road (OTR) Tire Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Africa Off the Road (OTR) Tire market. The research report profiles major players, including

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  • Continental
  • Michelin
  • Bridgestone Corporation
  • The Yokohama Rubber Co., Ltd
  • Sumitomo Rubber Industries, Ltd
  • Toyo Tire & Rubber Company
  • Triangle Tyre Co. Ltd
  • CEAT Limited
  • BKT
  • Hangzhou Zhongce Rubber Co. Ltd.
  • Others

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