Off-The Road (OTR) Tire Market: Introduction
According to the report, the global off-the-road (OTR) tire market is projected
to surpass US$ 10.6 Bn by 2030, expanding at a
CAGR of ~3% during the forecast period. Advancements in technology,
including two tire technology, smart tires, TreadStat, and rim management
system, help to track the performance of tires, which help to avoid breakdown
of vehicles. The rate of adoption of agriculture tractors and equipment has
increased globally. Rise in affordability of tractors and income of farmers are
driving the demand for OTR tires for agriculture tractors, which is anticipated
to boost the off-the-road (OTR) tire market across the globe.
Major Key Players of
the Off-The Road (OTR) Tire Market are:
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, and Triangle Group Co. Ltd.
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Expansion of Off-The Road (OTR) Tire Market
Growing acquisitions and agreements between leading tire
manufacturers across the globe are factors boosting the off-the-road (OTR) tire
market across the globe. In 2019, Apollo Tyres launched a new bias
tire series called nGR. These new tires are fuel-efficient and can lower fuel
consumption by 5% to 10% and offer 25% lower
rolling resistance as compared to that offered by its standard product. The
recent launch of the new fuel-efficient tires is in light of the new BS-VI norm
adopted in India, wherein the company is updating not just its bias tires but
also the PCR tires. China witnessed a surge in both general trade volume and
proportion, escalating to 15.66 Trn Yuan. China trade volume
accounted for 56.4% of total foreign trade. Major trading
partners of China are the U.S., the European Union, and ASEAN.
Global Off-The-Road (OTR) Tire Market: Segmentation
- Off-The-Road
(OTR) Tire Market, by Tire Type
- Radial
- Bias
- Solid
- Off-The-Road
(OTR) Tire Market, by Industry Type
- Construction
& Mining
- Excavator
- Loader
- Dozer
- Articulated
Dump Truck
- Rigid
Dump Truck
- Motor
Scrapper
- Motor
Grader
- Agriculture
- Tractors
- Agriculture
Equipment
- Industrial
- Electric
Rider Trucks
- Electric
Warehouse Trucks
- IC
Trucks
- Off-The-Road
(OTR) Tire Market, by Rim Size
- <25”
- 29-41”
- 51-63”
- Off-The-Road
(OTR) Tire Market, by Sales Channel
- OEM
- Aftermarket
- Construction
& Mining
- Agriculture
- Industrial
- Off-The-Road
(OTR) Tire Market, by Region
- North
America
- Europe
- Asia
Pacific
- Middle
East & Africa
- Latin
America
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Research objectives:-
– To study and analyze the global Off-The Road (OTR) Tire
consumption (value & volume) by key regions/countries, product type and
application, history data.
– To understand the structure of the Off-The Road (OTR) Tire
market by identifying its various sub-segments.
– Focuses on the key global Off-The Road (OTR) Tire
manufacturers, to define, describe and analyze the sales volume, value, market
share, market competitive landscape, SWOT analysis, and development plans in
the next few years.
– To analyze the Off-The Road (OTR) Tire with respect to
individual growth trends, future prospects, and their contribution to the total
market.
– To share detailed information about the key factors
influencing the growth of the market (growth potential, opportunities, drivers,
industry-specific challenges and risks).
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