Off-the Road [OTR] Tire Market Size, Share, Forecast Report 2021-2030
The global Off-the Road [OTR] Tire market is expected to grow at a CAGR of around 3.9% over the forecast period 2020 to 2030 and expected to reach the market value of around US$ 11.0 Bn by 2030. 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.
The global off-the-road (OTR) tire market is anticipated to expand at a CAGR of 3.9% during the forecast period, owing to increase in construction and infrastructure development across the globe. Rising demand for industrial products is boosting the development of new industries. Moreover, expansion of existing industries is propelling the market for construction equipment.
Expansion of industries is propelling the demand for minerals and metals, which are extracted from their ores. This is boosting the mining industry, which requires mining equipment such as shovels, loaders, haul trucks, and draglines, which, in turn, is likely to increase the demand for off-the-road tires across the globe.
This research report purposes at stressing the most lucrative growth prospects.The aim of the research report is to provide an inclusive valuation of the Off-the Road [OTR] Tire market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Off-the Road [OTR] Tire market reportaids in comprehendingmarket structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-downimpact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilaracross various industry verticals. The research reportofferspresent short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lastingtactics for recovery and by region.
Off-the Road [OTR] Tire market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplish sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share.Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Off-the Road [OTR] Tire Market are:
The global off-the-road (OTR) tire market include 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.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects includingproduct type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2030 and covers subsequent region in its scope:
Global Off-The-Road (OTR) Tire Market: Segmentation
- Off-The-Road (OTR) Tire Market, by Tire Type
- Off-The-Road (OTR) Tire Market, by Industry Type
- Construction & Mining
- Articulated Dump Truck
- Rigid Dump Truck
- Motor Scrapper
- Motor Grader
- Agriculture Equipment
- Electric Rider Trucks
- Electric Warehouse Trucks
- IC Trucks
- Off-The-Road (OTR) Tire Market, by Rim Size
- Off-The-Road (OTR) Tire Market, by Sales Channel
- Construction & Mining
By Regional Outlook
- United States
- United Kingdom
- Rest of EU
- Southeast Asia
- Rest of APAC
Central & South America
- Rest of Central & South America
Middle East and Africa
- North Africa
- South Africa