Global Off the Road (OTR) Tires Market, By Type (Wheeled, Rubber Tracks), Product Type (Bias Tires, Radial Tires, Non-Pneumatic Tires), Rim Size (<25’’, 29’’-41’’, 51’’-63’’), Process (Pre-Cure, Mold Cure), Application (Construction and Mining, Agriculture, Industrial), Distribution Channel (OEM, Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Off the Road (OTR) Tires Market Analysis and Insights : Global Off the Road (OTR) Tires Market
The off the road (OTR) tires market size is valued at USD 9.06 billion by 2028 and is expected to grow at a compound annual growth rate of 5.50% over the forecast period of 2021 to 2028. Data Bridge Market Research report on off the road (OTR) tires market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Off the road tires are specially designed to enhance the performance and stability and also provide traction on different unpaved surfaces such as sand, mud, dirt among others. OTR tires are broadly used at civil engineering sites, dam construction sites, sand and gravel at mining, agriculture sector and others.
The off the road (OTR) tires market has a huge potential and is expected grow over the forecast period of 2021 to 2028, owing to the rise in industrialization and rapid urbanization particularly in developing countries. In addition, the high demand for modern agriculture vehicles across the world and the rise in the farm mechanization especially in emerging economies are also largely influencing the growth of the off the road (OTR) tires market. Also the rise in government subsidies on many agriculture equipments and machinery resulting in high demand for OTR tires across the globe is another driver anticipated to flourish the off the road (OTR) tires market growth. Additionally, the high demand for Off-highway vehicles in developed and developing countries and increase in the construction activities across the globe are also expected to boost the growth of the off the road (OTR) tires market in the above mentioned forecast period.
However, the market of off the road (OTR) tires though has certain limitations which are expected to obstruct the potential growth of the market such as the fluctuating raw material prices and rise in the gap between OTR tires demand and supply, whereas the extreme weather conditions and customization can challenge the growth of the off the road (OTR) tires market in the above mentioned forecast period.
In addition, the rapid increase in the OTR tire manufacturers focus on the production of eco-friendly OTR tires and high investment in research and development activities are projected to offer various growth opportunities for the off the road (OTR) tires market in the forecast period of 2021 to 2028.
This off the road (OTR) tires market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the off the road (OTR) tires market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Off the Road (OTR) Tires Market Scope and Market Size
The off the road (OTR) tires market is segmented on the basis of type, product type, rim size, process, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The off the road (OTR) tires market is segmented on the basis of type into wheeled and rubber tracks.
- Based on product type, the off the road (OTR) tires market is segmented into bias tires, radial tires and non-pneumatic tires.
- On the basis of rim size, the off the road (OTR) tires market is segmented into <25’’, 29’’-41’’ and 51’’-63’’.
- Based on process, the off the road (OTR) tires market is segmented into pre-cure and mold cure.
- On the basis of application, the off the road (OTR) tires market is segmented into construction and mining, agriculture and industrial. Construction and mining has further been segmented into excavator, loader, dozer, articulated dump truck, rigid dump truck, motor scrapper and motor grader. Agriculture has further been segmented into tractors and agriculture equipment. Industrial has further been segmented into electric rider trucks, electric warehouse trucks and IC trucks.
- Based on distribution channel, the off the road (OTR) tires market is segmented into OEM and aftermarket.
Off the Road (OTR) Tires Market Country Level Analysis
The off the road (OTR) tires market is analyzed and market size, volume information is provided by country, type, product type, rim size, process, application and distribution channel as referenced above.
The countries covered in the off the road (OTR) tires market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the off the road (OTR) tires market because of the strong presence of major OTR tires manufacturers and rapid infrastructural development. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to high adoption of agriculture tractor and other equipment as well as the increase in mining and construction activities.
The country section of the off the road (OTR) tires market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Off the Road (OTR) Tires Market Share Analysis
The off the road (OTR) tires market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to off the road (OTR) tires market.
The major players covered in the off the road (OTR) tires market report are Continental AG, Bridgestone Corporation, MICHELIN, The Goodyear Tire & Rubber Company, Yokohama Tire Corporation, Hankook Tire & Technology Co.,Ltd., Nokian Tyres plc., Apollo Tyres Ltd, KUMHO TIRE, Pirelli & C. S.p.A., Sumitomo Rubber Industries, Ltd., Toyo Tire Corporation, China National Tire & Rubber Co.,Ltd., Trelleborg AB, Prometeon Tyre Group S.R.L., JK TYRE & INDUSTRIES LTD., QINGDAO RHINO TYRE CO., LTD., Titan International, Inc., Balkrishna Industries Limited (BKT)., and Triangle Tires among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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