Europe Off-the-Road (OTR) Tire Market Size, Key Companies/Manufacturers and Forecast 2023-2028 | Michelin, Nokian Tyres, Pirelli, The Goodyear Tyre & Rubber Company

IMARC Group has recently released a new research study titled "Europe Off-the-Road (OTR) Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

The Europe off-the-road (OTR) tire market is expected to exhibit a growth rate (CAGR) of 4.52% during 2023-2028.

Off-the-road (OTR) tires are characterized by their rugged, heavy-duty tread patterns and sidewalls designed to resist punctures, making them highly resilient to damage caused by encounters with rocks and ensuring a strong grip in challenging terrains like mud and loose sediment. OTR tires are known for their superior durability, reduced heat generation and rolling resistance, improved vehicle performance, easy maneuverability, minimized contact patch area, and optimal stability. These exceptional attributes make them the preferred choice for the large-scale machinery used in construction, mining, and other work sites that lack conventional roads.

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Europe OTR Tires Market Growth Factors and Industry Demand, Trends:

The European market is poised for growth, driven by a surge in infrastructure development projects and the expanding construction industry. Furthermore, the ongoing development of various infrastructural initiatives, including dams, bridges, highways, and power supply grids throughout the region, is expected to provide strong support for market expansion.

The increasing adoption of radial OTR tires is a key factor projected to fuel market growth, as these tires offer benefits such as reduced fuel consumption, enhanced mileage, and improved road traction. Additionally, the burgeoning mining industry is fostering demand for large haul trucks across various mining and quarrying applications, further boosting the need for OTR tires.

Moreover, substantial growth in the agriculture sector, coupled with the increasing adoption of farm mechanization practices, is anticipated to contribute significantly to market growth in the forecast period.

The report provides a comprehensive analysis of the industry key players listed below:

Europe Off-the-Road (OTR) Tire Comapnies/Manufacturers: 

• Balkrishna Industries Limited
• Bridgestone Corporation
• Continental AG
• Double Coin Tyre Group Ltd.
• Michelin
• Nokian Tyres
• Pirelli
• The Goodyear Tyre & Rubber Company
• Trelleborg
• Triangle Tires
• Yokohama Rubber Company Limited

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Market Segmentation:

The report has segmented the market into the following categories:

Breakup by Vehicle Type:

• Mining Vehicles
• Construction & Industrial Vehicles
• Agricultural Vehicles
• Others

Breakup by Tire Type:

• Radial Tire
• Bias Tire

Breakup by End Use:

• OEM
• Replacement

Breakup by Distribution Channel:

• Online
• Offline

Breakup by Rim Size:

• Below 24 inches
• 24-30 inches
• 31-35 inches
• 36-39 inches
• 40-50 inches
• 51-55 inches
• Above 56 inches

Breakup by Country:

• Germany
• France
• Russia
• United Kingdom
• Italy
• Spain
• Others

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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