OTR (Off-The-Road) tires, as the names suggest are the wheels that are designed for the different off-highway vehicle varieties. These tires are designed to withstand significant pressure and body weight of vehicles that are generally used in testing conditions and environment. These tires help in the continued functioning of vehicles that can result in hindrance for the vehicle movement. These tires are designed for extremely tough conditions are not flattened easily in comparison to other conventional forms of tires that are developed for on-highway vehicles.
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The market is segmented on the basis of type as wheeled and rubber tracks. Tire type segment has been sub-segmented into radial, bias and solid. Rim size includes <25”, 29”-49” and 51”-63”. Aftermarket industry has been categorized into construction & mining, agriculture and industrial. Process consists of pre-cure and mold cure. Sales channel has been categorized into OEM and aftermarket.
According to Data Bridge Market Research, Global OTR Tires Market is expected to reach USD 8.14 billion by 2026, growing at a CAGR of 5.00% during the forecast period of 2019 to 2026
Some of the major players operating in the market are Continental AG, Bridgestone Corporation, Michelin, The Goodyear Tire & Rubber Company, THE YOKOHAMA RUBBER CO., LTD., Hankook Tire & Technology Co.,Ltd., Nokian Tyres plc., Apollo Vredestein, KUMHO TIRE USA, INC., Pirelli & C. S.p.A., Toyo Tire Corporation, Prometeon Tyre Group S.R.L., Sumitomo Rubber Industries, Ltd., China National Tire & Rubber Co.,Ltd., JK TYRE & INDUSTRIES LTD., Trelleborg AB , QINGDAO RHINO TYRE CO., LTD., Titan International, Inc. BALKRISHNA INDUSTRIES LIMITED (BKT)., CMA, LLC., Triangle Group Co., Ltd. and others.
Currently, the major motive of tire manufacturers has been on determining more environmental-friendly operations for their production of tires and that has basically merged into the production of tires through more environmentally-conscious sources of raw materials and reducing the impact that the obsolete tires have on the environment. This focus of utilizing more sustainable methods of production has also been experienced by the OTR tire manufacturers which are currently undergoing extensive R&D activities to improve their production methods and reduce the impact that they have on the environment.
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Global Off the Road (OTR) Tires Market – Industry Trends and Forecast to 2028