The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Guatemala Off-the-Road (OTR) Tire Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Guatemala Off-the-Road (OTR) Tire Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, Guatemala Off-the-Road (OTR) Tire Market size is estimated to grow at a CAGR of around 2.1% during the forecast period, i.e., 2024-30. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in Guatemala Off-the-Road (OTR) Tire Market Segmentation?
The report has segmented the market into the following categories:
By Type of Equipment
- Earth Moving Equipment – Market Size Forecast, 2019-2030 (Thousand Units)
- Material Handling Equipment– Market Size Forecast, 2019-2030 (Thousand Units)
- Agriculture Equipment– Market Size Forecast, 2019-2030 (Thousand Units)
Of them all, earthmoving equipment holds a notable market share in the Guatemala Off-the-Road Tire market. The country is witnessing population growth due to the rising arrival of expatriates from other North American nations. This increasing population is elevating the requirement for proper accommodation facilities as a result real estate developers are constructing residential apartments complexes in the country. This residential construction is augmenting the demand for earthmoving vehicles in the country since these vehicles are essentially used during the construction for site preparation, excavation land development. The extensive usage of these vehicles leads to higher tire wear tear, which negatively affects the operational efficiency of the vehicle. Therefore, the construction contractors ensure frequent tire replacement of these vehicles to maintain their efficiency. This consequently uplifts the OTR tire demand and enlarges the market size of the Guatemala Off-the-Road (OTR) Tire Market.
By Tire Type
- Radial– Market Size Forecast, 2019-2030 (Thousand Units)
- Bias– Market Size Forecast, 2019-2030 (Thousand Units)
By Demand Type
- OEMs– Market Size Forecast, 2019-2030 (Thousand Units)
- Replacement– Market Size Forecast, 2019-2030 (Thousand Units)
By Price Category
- Budget– Market Size Forecast, 2019-2030 (Thousand Units)
- Premium– Market Size Forecast, 2019-2030 (Thousand Units)
- Economy– Market Size Forecast, 2019-2030 (Thousand Units)
By Tire Size
- Tire Size 1– Market Size Forecast, 2019-2030 (Thousand Units)
- Tire Size 2– Market Size Forecast, 2019-2030 (Thousand Units)
- Tire Size 3– Market Size Forecast, 2019-2030 (Thousand Units)
- Tire Size 4– Market Size Forecast, 2019-2030 (Thousand Units)
- Tire Size 5– Market Size Forecast, 2019-2030 (Thousand Units)
By End Users
- Construction– Market Size Forecast, 2019-2030 (Thousand Units)
- Industrial– Market Size Forecast, 2019-2030 (Thousand Units)
- Mining– Market Size Forecast, 2019-2030 (Thousand Units)
- Agriculture– Market Size Forecast, 2019-2030 (Thousand Units)
- Ports– Market Size Forecast, 2019-2030 (Thousand Units)
By Sales Channel
- Direct Sales– Market Size Forecast, 2019-2030 (Thousand Units)
- Online– Market Size Forecast, 2019-2030 (Thousand Units)
- Multi Brand Stores – Market Size Forecast, 2019-2030 (Thousand Units)
- Exclusive Outlets– Market Size Forecast, 2019-2030 (Thousand Units)
By Region
- North
- South
- Central
- Metropolitan
- Peten
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Key Factor Driver Guatemala Off-the-Road (OTR) Tire Industry Growth by 2030
Increasing Construction of Hospitality Projects Driving Market Growth – The country has several museums, art galleries, and other attraction sites, which are attracting travel junkies from across the globe to visit Guatemala. Additionally, the country is increasingly hosting live music sports events, that is gaining the attention of sports enthusiasts from across the globe. As a result, the country is recording a surge in the inbound tourism. As per the statistics by the Ministry of Tourism, in 2023, the country recorded the arrival of around 2.6 million inbound tourists, an increase of about 43% compared to the previous year. The rising inbound arrival of foreign travelers is augmenting the demand for the accommodation facilities, like hotels resorts. Therefore, major players in the market are expanding their hotels in the nation. The expansion construction of hotels resorts in the country are elevating the requirement of several heavy-duty machinery. These vehicles typically run on difficult terrain and carry a heavy load of building construction materials. Therefore, these vehicles observe tire wear tear, necessitating regular tire replacement and uplifting of the Guatemala OTR Tire Market.
Who are the Key Players Operating in the Guatemala Off-the-Road (OTR) Tire Industry?
The top companies of the Guatemala Off-the-Road (OTR) Tire market ruling the industry are:
- Pirelli Tyre S.p.A.
- Goodyear Tire and Rubber Company
- Bridgestone
- Continental AG
- The Yokohama Rubber Co., Ltd.
- Trelleborg
- Toyo Tires
- BFGoodrich
- ZODO TIRE CO.,LTD (Goldshield)
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FAQs (Frequently Ask Questions)
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