The Off the Road (OTR) Tires Market research report provides a crucial framework of the dynamic market by providing data using efficient data designs. Overall, the unique data provided here about the market situation works as a great help for the key players to take beneficial business-related decisions and gain huge profits. It is the perfect representation of the potent and skillful standpoint of the business and the market scenario. It also helps to attain a strategic lead over the rivals to attain lasting accomplishment in the industry.
Off the Road (OTR) tires Market by Product (Radial Tires, Bias Tires, Non-Pneumatic Tires), Vehicle Type (Earthmovers, Loader and Dozers, Graders, Material Handling Equipment, Tractors and Agricultural Equipment), End user (Construction, Industrial, Mining, Agriculture, Ports, Other (Defense etc.), OEMs (Original Equipment Manufacturers), and Aftermarket), and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Market Overview
The Off the Road (OTR) tires market size is projected to reach a CAGR of 4% from 2022 to 2028.
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OTR or off-road tires are specially designed for heavy vehicles used in off-road applications like mining, logistics, and agriculture. Using these tires offers the benefits of low maintenance and repair costs. These tires are wider than the normal tires in order to accommodate heavy-duty vehicles, to be specific these are 16 inches in width.
Due to the surge in the sale of Highway vehicles and the increased automation in farms are some factors that have supported the long-term expansion of the Road (OTR) tire Market.
COVID-19 had a negative effect on the market, the low demand for tires during the lockdown and the pandemic along with producers working towards the cut down of production the market has witness a fall.
Regional Analysis
Europe is the most rapidly growing market and offers a huge opportunity for the industry, whose growth is driven by the increased investment in infrastructural project along with the construction of roads and railways.
Key Players
- Bridgestone Corporation MICHELIN
- The Goodyear Tire & Rubber Company
- Continental AG
- YOKOHAMA Rubber CO. Ltd.
- Sumitomo Tires
- Apollo Tyres Ltd.
- Nokian Tyres
- China Rubber Tire & Rubber Co. Ltd
- Prometeon Tyre Group S.R.L.
- BKT Tire
- Qingdao Rhino Tyre Co., Ltd.
- Titan
- International, Inc.
- Trelleborg AB
- Triangle Group Co. Ltd
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Recent Developments
- In January 2021, Bridgestone corporation announced its 4 year result of the collaboration with NR gene a genomic big data company.
- In November 2019, Apollo Tyres and Global Automotive Research Centre (GARC) signed up for partnership in order to expand their market in the southern part of Tamil Nadu.
Reasons to Acquire
- Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
- Gain authentic and granular data access for Off the Road (OTR) tires s Market so as to understand the trends and the factors involved behind changing market situations
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
Table of Contents
Off the Road (OTR) tires s Market is segmented into Product, Vehicle, End Users, Target Market and region.
On the basis of Product
- Radial Tires
- Bias Tires
- Non-Pneumatic Tires
On the basis of Vehicle Type
- Earthmovers
- Loader and Dozers
- Graders
- Material Handling Equipment
- Tractors and Agricultural Equipment
On the basis of End-User
- Construction
- Industrial
- Mining
- Agriculture
- Ports
- Other (Defense etc.)
On the basis of Target Market
- OEMs (Original Equipment Manufacturers)
- Aftermarket
On the basis of Region
- Asia Pacific
- North America
- Europe
- South America
- Middle East & Africa
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