According to the research report titled ‘Chile Tire Market Analysis, 2020’, available with Market Study Report, Chile tire market size is touted to grow substantially through 2026.
 

Rapid industrialization and urbanization coupled with surging investment of the government towards construction activities and mining sector are spurring the growth of Chile tire market.
 

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Additionally, improving purchasing power of the consumers is also augmenting the market growth. However, the advent of COVID 19 pandemic has disrupted supply chain as a result of lockdowns and social distancing norms, leading to temporary closure of OEMs and availability of replacement tires, hence adversely impacting the business scope of Chile tire industry.
 

Apart from enlisting catalysts and challenges, the report elaborates on various market segmentations, thereby providing information about the revenue share held by each segment and their growth trajectory over the forecast period.
 

Based on vehicle type, Chile tire market is bifurcated into passenger cars (hatchback & bakkies, sedan, SUV), LCV (pickup trucks & vans, light trucks, light buses), Two wheelers (motorcycles, scooters, moped), off the road (industrial & mining equipment, material handling equipment, earthmoving equipment), and medium & high commercial vehicles (truck, bus).
 

Speaking of demand type, replacement segment amassed a large share in Chile tire market in the recent past, due to lack of automobile OEMs in the nation. Surge in sales of two-wheelers, proliferation of electric vehicles, and increasing infrastructure development activities are boosting the demand for replacement tires.
 

Based on the type of tire, the industry is divided into OEM, and replacement. While other segments considered in Chile tire market report are rim size, sales channel, price category, and season.
 

Major companies with a fair stake in Chile tire market include Toyo Tire Corporation, Pirelli & C. S.p.A, Goodyear Tire & Rubber Company, Michelin, Yokohama Rubber Co. Ltd, Continental AG, Hankook Tire & Technology Group, Kumho Tire, and Sumitomo Rubber Industries Ltd. among others.