Off-road (OTR) tire sales in South Africa are booming as a result of the nation’s expanding automotive sector, increased mining industry demand, and quickening industrial and urbanization. As the mining sector of the nation grows, so does the need for modern, effective machinery. The need for OTR tires in the mining sector is likewise rising substantially.
According to Markntel Advisors, “Global Africa Off the Road (OTR) Tire Market Size- By Type of Vehicle, By Type of Tire, By Demand Type, By Application, By Rim Size, By Season, By Price Category, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2029” state that the Africa Off the Road (OTR) Tire Market is predicted to grow at a CAGR of around 3.5% during the forecast period 2024-2029.
The need for OTR trucks is being increased by the growing construction sector as well as the increasing development of infrastructure in a variety of geographical areas. Growing building projects like roads, bridges, dams, power grids, etc. are supporting the demand for off-road tires even more. Additionally, the growing use of automated machinery for various industrial processes is another factor propelling the market.
Impact on Covid-19 for Africa Off the Road (OTR) Tire Market:
The COVID-19 pandemic of 2020 had a brief impact on the OTR tire industry in South Africa, as sales and manufacture of new cars fell. In addition, many limited their driving and postponed maintenance and tire replacement appointments due to travel and business constraints. Tyre importers faced challenges in importing tires as a result of low demand, difficulties acquiring raw materials, financial limitations, and a labour scarcity. Tire manufacturers were also compelled to shut down plants or scale back production.
Request For Free Sample: https://www.marknteladvisors.com/query/request-sample/africa-off-the-road-tire-market.html
Africa OTR Tire Market Key Players:
The Key Players of Africa Off the Road Tire Market are Continental, Bridgestone Corporation, Michelin, The Yokohama Rubber Co., Ltd, Sumitomo Rubber Industries, Ltd, Triangle Tyre Co. Ltd, Hangzhou Zhongce Rubber Co. Ltd., Toyo Tire & Rubber Company, CEAT Limited, BKT.
Segmentation of Africa Off the Road (OTR) Tire Market:
The MarkNtel Advisors report on the Africa Off the Road Tire Market Analysis, identifies, and highlights the key trends and drivers that are affecting each segment. The report has further segmented the market into the following categories:
Based on Sales Channel: Based on Sales Channel, Africa Off the Road Tire Market is Segmented as: Multi-brand & Exclusive Outlets, Direct Sales, Online.
Based on Demand Type: Based on Demand Type, Africa Off the Road Tire Market is Segmented as: OEM, Aftermarket.
Based on Region: The study also include data for South Africa, Nigeria, Kenya, Algeria and Morocco.
Why Choose MarkNtel Advisors Report?
☛ Well-known Business Prospects – Our accurately analysis market research report serves as a treasure map for discovering potential markets and novel product avenues. It provides in-depth insights into customer preferences, approaches, and unmet needs. Additionally, it facilitates comprehensive comparisons of products and services.
☛ Thoughtful Customer Insight – A market report provides the marketing department with an in-depth understanding of customer requirements and desires. This knowledge can be harnessed to enhance products, adjust pricing, and refine advertising strategies.
☛ Empowering Data-Backed Judgment – Our comprehensive Market research encompasses a wide spectrum of activities, including precise market sizing, detailed segment analysis, accurate demand forecasting, competitor identification, and meticulous pricing trend monitoring. These metrics are rigorously quantified and measurable, furnishing you with a robust foundation for crafting distinctive strategies driven by empirical evidence.
Related Report:
North America Off the Road (OTR) Tire Market Research Report: Forecast (2022-27)
Middle East Off the Road (OTR) Tire Market Research Report: Forecast (2022-27)
Contact us:
Nick
Call us: +1 628 895 8081, +91 120 4278433
Email: sales@marknteladvisors.com
