OTR Tires Market Analysis, Growth by Top Companies, Trends by Types and Forecast to 2028

According to our latest market study on "OTR Tires Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Wheeled, Rubber Tracks); Application (Agricultural Tractors, Industrial Equipment, Construction and Mining Equipment, Others) and Geography"

OTR tire denotes a precise category of tires that increase the traction in unpaved surfaces with gravel, mud, sand or loose dirt. These tires are equipped with profound tread patterns that help in the vehicle traction in off-road conditions or high terrains off road. The off-road tire can be further divided into different sections, such as tire tread, inner liner, tire casing, and sidewall. OTR tire market is anticipated grow remarkably all over the world in coming years.

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Companies Profiled in this report includes: Continental, Bridgestone, Michelin, Goodyear, Pirelli, Yokohama, Sumitomo, Hankook Tire, Nokian, CEAT

MARKET SEGMENTATION

Based on type, the global OTR tires market market is segmented into wheeled, and rubber tracks.

On the basis of application, the market is segmented into agricultutral tractors, industrial equipment, construction and mining equipment, and others.

MARKET DYNAMICS

Drivers

Increase in construction activities, government subsidies on agriculture equipment.

Increasing farm mechanization are some of the major factors driving the growth of the off the road tires market.

Restraints

Vast expenditure incurred in research and development is likely to hamper the OTR tires market.

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IMPACT OF COVID-19 ON OTR TIRES MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

The purposes of this analysis are:

To characterize, portray, and check the OTR Tires market based on product type, application, and region.

To estimate and inspect the size of the OTR Tires market (in terms of value) in six key regions, specifically, North and South America, Western Europe, Central & Eastern Europe, the Middle East, Africa, and the Asia-Pacific.

To estimate and inspect the OTR Tires markets at country-level in every region.
To strategically investigate every sub-market about personal development trends and its contribution to the OTR Tires market.

To look at possibilities in the OTR Tires market for shareholder by recognizing excessive-growth segments of the market.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.