Press release
Covid-19 Impact on the Off-The-Road (OTR) Tire Market | Global Industry Growth, Size, Share, Demand and Forecast, 2026
OTR tire machines operate day-to-day irrigation purposes, horticultural operations, crop plotting & scouting, etc. Furthermore, the trending use of these mechanisms to carry out agriculture tasks instead of manually performing them reduces the total operation time, labor costs and enhances overall task efficiency, thereby boosting the demand for OTR tire machines.
Get the sample pages of the market analysis: https://www.marknteladvisors.com/query/request-sample/global-otr-tire-market-analysis.html
Key Questions Answered in the Market Research Report:
What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Global Off the Road (OTR) Tire Market?
What is the region-wise industry size, growth drivers, and challenges?
What are the key innovations, opportunities, current & future trends, and regulations in the Global Off the Road (OTR) Tire Market?
Who are the key competitors, their key strengths and weaknesses, and how do they perform in the Global Off the Road (OTR) Tire Market based on a competitive benchmarking matrix?
What are the key results derived from the market surveys conducted during the Global Off the Road (OTR) Tire Market study?
In the previous few years, the COVID-19 outbreak had a massive negative impact on the Global Off the Road (OTR) tire market. The pandemic brought several development activities to hold in the first half of 2020. The impositions of lockdown by governments, improper logistics support to construction equipment in North America & Europe, reverse labor migration in APAC and the Middle East, etc., affected the entire OTR tire industry. Moreover, the downfall in the prices of crude oil and supply disruptions during the COVID-19 period further altered the construction activities in the Middle East and Africa, eventually negatively impacting the new applications for OTR tires.
The Global Off the Road (OTR) Tire Market is anticipated to grow at a CAGR of around 4.8% during 2021-26. The growth of the market is attributed to rise in commercial farming sectors leading to surge in demand for tractors and agriculture equipment vehicles.
For details analysis: https://www.marknteladvisors.com/research-library/global-otr-tire-market-analysis.html
Europe is anticipated to witness the significant market share in the global off the road (OTR) tire market during the forecasted period. This is due to presence of major market players in the region such as Michelin and Continental AG, thus, increases the chances of easy availability of technologically advanced OTR tire at lower cost.
Market Outlook, Segmentation and Statistics
Impact of COVID-19 on Global Off the Road Tire Market
Market Size & Analysis
Market Revenue
Units Sold
Market Share & Analysis
By End-Users
Construction
Industrial
Mining
Agriculture
Ports
By Type of Equipment
Earth Moving Equipment
Material Handling Equipment
Agricultural Equipment
By Type of Tire
Radial
Bias
By Demand Type
OEMs
Aftermarket
By Price Category
Budget
Premium
Economy
By Rim Size
Up to 20"
20.1" to 26"
26.1" to 35"
35.1" to 47"
Above 47"
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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.
We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.
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