Future of Executive Summary Mexico Off-the-Road Tire Market: Key Dynamics, Size & Share Analysis
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. Factors such as frequent technological advancements, growth in logistics and port infrastructure expansion, and development in the construction sector have impacted the growth of the off-the-road tire market positively. The agricultural sector of the country also boosts the growth of the market, owing to the considerable need for Off-the-road tires in agricultural equipment and vehicles.
Top Market Challenges Impacting the Mexico Off-the-Road Tire Market Growth
Rising Demand for Retreading Off-the-Road Tires – The increasing adoption of retreading Off-the-Road Tires acts as a challenging factor for new tire manufacturers by reducing demand. Various top companies have established their retreading OTR tire plants in Mexico, such as Michelin established its first retreading tire plant in 2022, responding to increased demand for these tires. The life of OTR tires is increased by the retreading process, which offers the end-users the benefit of reusing their tires for a longer period. This reduces the need for the purchase of new tires.
Understanding the Core Segments in the Mexico Off-the-Road Tire Market
Mexico Off-the-Road Tire Market Size, Share & Industry Trends Analysis-By Equipment Type (Earth Moving Equipment, Material Handling Equipment, Agricultural Equipment), By Tire Size (Tire Size 1, Tire Size 2, Tire Size 3, Tire Size 4, Tire Size 5), By Demand Type (OEMs, Aftermarket), By Tire Type (Radial, Bias), By Sales Channel (Exclusive Stores, Authorized Dealers/Distributors, Online, Others), By Price Category (Budget [Up to USD 400], Economy [USD 401–1,500], Premium [Above USD 1,500]), By End-User (Construction, Industrial, Mining, Agriculture, Ports), And Others
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Who Dominates the Mexico Off-the-Road Tire Market Insights on Key Industry Players?
Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.
- 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.
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