According to recent findings, the Philippines OTR Tires Market Analysis, 2020”, the Philippines OTR Tires market is anticipated to grow at a considerable CAGR during 2021-26F.
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Philippines OTR Tire Overview:
The growth of the market is attributed to increasing technological advancements in the OTR tires by the market players, burgeoning adoption of radial tires, increasing demand for agricultural tractor and widespread penetration of Chinese brand in the OTR segment. Moreover, the increasing spending by the government in the large-scale infrastructure project, strong growth in the mining and construction sector and snowballing government subsidies on equipment are the factors projected to fuel the growth of the market in the forecast period.
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Philippines OTR Tire Segmentation Analysis:
By Type of Equipment
- Earthmoving Equipment
- Excavator
- Grader
- Loader
- Bulldozer
- Road Roller
- Material Handling Equipment
- Crane
- Forklifts
- Agricultural Equipment
- Tractor
- Combines
- Others
According to reports, Based on the Type of Equipment, Earthmoving Equipment acquired the considerable market share in Philippines OTR Tire market in 2020.
By End-Users
- Construction
- Industrial
- Mining
- Agriculture
- Ports
By Type of Tire
- Radial
- Bias
By Demand Type
- OEMs
- Aftermarket
By Price Category
- Budget
- Economy
- Premium
By Rim Size
- Upto 20”
- 1” to 26”
- 1” to 35”
- Above 35”.
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Some of the Market players in the Philippines OTR Tire are:
- Bridgestone Corporation
- Goodyear Philippines, Inc.
- Yokohama Rubber Co.
- Michelin Tires
- Toyo Tire
- Kumho Tire Co., Ltd.
- Zhongce Rubber Group Co., Ltd.
- Continental
- Sumitomo Rubber Industries Ltd..
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Key Steps:
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