OTR Tires Market Report: Anticipated Surge to USD 14.02 billion by 2029, Technology, Trends Predicted till 2029

The global OTR Tires market size is USD 8.27 billion in 2020 and is expected to grow till USD 14.02 billion by 2029, at a Compounded annual growth rate (CAGR) of 6.25%.

Exactitude Consultancy research's "OTR Tires Market Forecast" study report focuses at sales and the overall global market for OTR Tires in 2022. The sales forecast for OTR Tires by region and market sector for the years 2023 through 2029 is then thoroughly analyzed. This study provides a comprehensive analysis of the global OTR Tires market, with sales of OTR Tires broken down by region, market sector, and sub-sector, in US$ million.

Based on market dynamics and development-promoting variables, the OTR Tires Market research assesses market valuation and growth rate. On the most recent business prospects, trends, and news in the sector. Along with a SWOT analysis of the major suppliers, the research also includes a thorough market study and vendor landscape.

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Driver:

 Demanding operating conditions for construction, agricultural, and mining vehicles globally have a beneficial impact on tyre aftermarket sales. The aftermarket tyre sector has benefited from a rise in awareness of equipment servicing and maintenance. The growth of mechanisation in the farming industry has raised the demand for mechanised parts and equipment, which has increased demand for aftermarket tyres. Rolling conditions have a major impact on tyre life. Tyre wear and tear on industrial and agricultural equipment is accelerated by roadways and rugged terrain. Tyre life is impacted by hard braking, acceleration, and large loads at mining and construction sites. Each OTR tyre manufacturer determines their own tread depth, and the surface has a significant impact.

Opportunities:

OTR tyres' lifespan can be extended through retreading. Through this procedure, the tyre tread is replaced with a fresh one after a thorough inspection. Following the application of fresh tread over the polished old tyres with an adhesive layer, the mould cure or pre-cure process is carried out.

competitive analysis

The research identifies the key establishes that will drive growth since demand is determined by a buyer's financial resources and the rate at which an item develops. Key companies and new entrants can gain insight into the spending reports of major market participants in this area, which will help them better appreciate the possibilities for investment in the global OTR Tires market. It can be used more effectively by both established and up-and-coming players in the market to gain a thorough understanding of the sector.

Major companies in OTR Tires Market are:

Continental AG, Bridgestone Corporation, Michelin, Goodyear Tire & Rubber Company, and Pirelli & C. S.p.A.

Recent Developments:

In March 2021, The EV-4M Port Handler was introduced by Goodyear. The new tyre has a high-strength bead bundle, sidewall inserts, a stronger wedge, and a durable casing. Improved treadwear, durability, comfort, and stability, as well as higher efficiency and operating efficiency, are all benefits of these qualities. Container handlers, reach stackers, straddle carriers, shuttle sprinter carriers, and other equipment may use the new EV-4M Port Handler, which comes in new 450/95R25 sizes.

In May 2021, Michelin has added the TRAILXBIB to its line of agricultural OTR tyres. The tyre is built with farm equipment capability and revolutionary technology to retain soil, guarantee uniform weight distribution, and provide high levels of soil protection through the tyre contact patch.

OTR Tires Market Segmentation:

OTR Tires Market by Equipment Type, 2020-2029, (USD Millions)

Articulated Dump Trucks

Asphalt Finishers

Backhoe Loaders

Crawler Dozer

Crawler Excavators

Crawler Loaders

Mini Excavators

Motor Graders

Rigid Dump Trucks

RTLT-Telescopic

Skid-Steer Loaders

Wheeled Excavators

Wheeled Loaders 80 HP

Agriculture Tractors

Others

OTR Tires Market by Agricultural Tractors, 2020-2029, (USD Millions)

250 HP

OTR Tires Market by Industrial Equipment, 2020-2029, (USD Millions)

Forklifts

Aisle Trucks

Tow Tractors

Container Handlers

OTR Tires Market by Product Type, 2020-2029, (USD Millions)

Wheeled Tires

Rubber Tracks

OTR Tires Market by Tire Type, 2020-2029, (USD Millions)

Wheeled Tires

Rubber Tracks

OTR Tires Market by Rim Size, 2020-2029, (USD Millions)

Up To 30 Inches

30-50 Inches

Above 50 Inches

OTR Tires Market by Process, 2020-2029 (USD Millions)

Pre-Cure

Mold Cure

OTR Tires Market by Application, 2020-2029, (USD Millions)

Construction and Mining Equipment

Agriculture Tractors

Industrial Equipment

OTR Tires Market by Region, 2020-2029, (USD Millions)

North America

Europe

APAC

MEA

Latin America

Important Countries in All Regions Are Covered.

Our market analysts are professionals at carefully categorizing the global OTR Tires market into various categories and assessing each segment's growth potential in detail. The research study begins with a comparison of the segments' consumption and growth rates throughout a nine-year assessment period. The report's segmentation study, which considers the market potential of the various categories examined, provides an excellent understanding of the global OTR Tires market. Businesses can better understand their target market by segmenting it, which enables them to create marketing plans and products that are tailored to particular categories. Here are two typical methods for market segmentation: by kind and by application.

This report also splits the market by region:

The United States, Canada, and Mexico make up North America, while Germany, France, the United Kingdom, the Netherlands, Switzerland, Belgium, Russia, Italy, Spain, and Turkey make up Europe. Other countries covered in the report include China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and the rest of Asia-Pacific (APAC). Saudi Arabia, the United Arab Emirates, Israel, Egypt, South Africa, and the rest of the Middle East and Africa (MEA) are also included.

The overall part of the research also lists specific market-impacting variables and domestic market regulation changes that have an effect on the market's present and future tendencies. Some of the key data points used to estimate the market situation for specific nations are consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, and upstream and downstream value chain analysis. When giving prediction analysis of the country data, it also takes into account the presence and accessibility of international brands, the difficulties they encounter owing to strong or weak competition from local and domestic brands, the influence of domestic tariffs, and trade routes.

Strategic Points Covered in Table of Content of Global OTR Tires Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the OTR Tires market
Chapter 2: Exclusive Summary - the basic information of the OTR Tires Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the OTR Tires
Chapter 4: Presenting the OTR Tires Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the OTR Tires market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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