The Mexico Off-the-Road Tire Market size was valued at around USD 0.90 billion in 2024 and is projected to reach USD 1.31 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.01% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
Mexico Off-the-Road Tire Market Driver:
Increasing Construction Activities Fueling the Demand for Off-the-Road Tires – The country is recording a considerable rise in construction activities due to many new projects aligned in the coming years. Increasing construction activities mean the accelerated number of deployments of construction vehicles such as dumpers, earthmoving equipment, excavators, and others with OTR tires fixed on them.
The construction sector is the best prospect industry sector for Mexico due to the rising construction projects. The Mexican construction sector achieved 15.6% growth in 2024, from the previous year, which was more than the national economy’s growth rate of 3.2%, as stated by the Mexican Chamber of the Construction Industry (CMIC). This expansion is largely driven by significant investments in infrastructure projects, including highways, railways, ports, and airports. Moreover, as per the Mexican Association of Industrial Parks (AMPIP) (2024), above USD 3 billion has been allocated for construction projects of 50 private industrial parks. The project is focused on the development of storage centers, factories, and distribution centers.
Mexico has free federal highways & bridges built around 50 years ago and is aging with time. Due to the aging infrastructure, the condition of the rural roads in Mexico has worsened. These deteriorating road conditions are reducing vehicle average speed & contributing to road accidents in the country. As a result, the government of Mexico is actively investing in its construction projects for the upgradation of the road infrastructure across the country. These developments would boost the utilization of OTR equipment in the forthcoming years
Henceforth, factors such as public and private investments coupled with government support have fueled the construction activities in the country. This, in turn, reflects the high growth that the OTR tire market will gain during the forecasted period due to the accelerating construction activities.
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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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Mexico Off-the-Road Tire Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Type of Equipment
- Earth Moving Equipment- Market Size & Forecast 2020-2030, Thousand Units
- Excavator- Market Size & Forecast 2020-2030, Thousand Units
- Grader- Market Size & Forecast 2020-2030, Thousand Units
- Loader- Market Size & Forecast 2020-2030, Thousand Units
- Bulldozer- Market Size & Forecast 2020-2030, Thousand Units
- Road roller – Market Size & Forecast 2020-2030, Thousand Units
- Material Handling Equipment
- Crane- Market Size & Forecast 2020-2030, Thousand Units
- Forklifts- Market Size & Forecast 2020-2030, Thousand Units
- Agricultural Equipment
- Tractors- Market Size & Forecast 2020-2030, Thousand Units
- Combines- Market Size & Forecast 2020-2030, Thousand Units
- Others- Market Size & Forecast 2020-2030, Thousand Units
- Earth Moving Equipment- Market Size & Forecast 2020-2030, Thousand Units
- By Tire Size
- Tire Size 1- Market Size & Forecast 2020-2030, Thousand Units
- Tire Size 2- Market Size & Forecast 2020-2030, Thousand Units
- Tire Size 3- Market Size & Forecast 2020-2030, Thousand Units
- Tire Size 4- Market Size & Forecast 2020-2030, Thousand Units
- Tire Size 5- Market Size & Forecast 2020-2030, Thousand Units
- By Demand Type
- OEMs- Market Size & Forecast 2020-2030, Thousand Units
- Aftermarket- Market Size & Forecast 2020-2030, Thousand Units
- By Type of Tire
- Radial- Market Size & Forecast 2020-2030, Thousand Units
- Bias- Market Size & Forecast 2020-2030, Thousand Units
- By Sales Channel
- Exclusive Stores- Market Size & Forecast 2020-2030, Thousand Units
- Authorised Dealers or Distributors- Market Size & Forecast 2020-2030, Thousand Units
- Online- Market Size & Forecast 2020-2030, Thousand Units
- Others- Market Size & Forecast 2020-2030, Thousand Units
- By Price Category
- Budget (Upto USD 400)- Market Size & Forecast 2020-2030, Thousand Units
- Economy (USD 401- 1,500)- Market Size & Forecast 2020-2030, Thousand Units
- Premium (Above USD 1,500)- Market Size & Forecast 2020-2030, Thousand Units
- By End-Users
- Construction- Market Size & Forecast 2020-2030, Thousand Units
- Industrial- Market Size & Forecast 2020-2030, Thousand Units
- Mining- Market Size & Forecast 2020-2030, Thousand Units
- Agriculture- Market Size & Forecast 2020-2030, Thousand Units
- Ports- Market Size & Forecast 2020-2030, Thousand Units
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Pirelli & C. S.p.A., Continental, Yokohama Tire, Michelin, Bridgestone Americas, Zhongce Rubber Group Co., Ltd., Triangle Tire Co., Ltd., Goodyear, CST, Double Coin, and Others. looking forward to strengthening their market positions.
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