OTR Tire Market Size, Share, Trends & Analysis by 2030

The global OTR Tire market is projected to grow from USD 4.8 billion in 2024 to USD 7.0 billion by 2030 at a CAGR of 6.5%. The growing demand for heavy machinery in construction, mining, and agriculture, coupled with increasing infrastructure projects worldwide, is driving the expansion of the OTR tire market. Additionally, advancements in tire technology, such as enhanced durability and tread designs, fuel market growth by improving efficiency and reducing downtime for equipment operators.

Market Dynamics

DRIVER: Growing aftermarket sales

They demand working conditions in their respective industries worldwide for mining, construction, and agricultural vehicles to favor tire aftermarket sales. The aftermarket tire market has benefited from increased equipment maintenance and servicing awareness. The farming industry has become more mechanized, which has raised sales of mechanized parts and equipment and driven up demand for aftermarket tires. Rolling conditions mainly influence tire longevity. Tires used in industrial and agricultural equipment suffer increased wear and tear due to roadways and uneven terrain: hard braking, rapid acceleration, and oversized loads impact tire lifespan in mining and construction areas. The tread depth is specified by each OTR tire manufacturer, with surface quality being a significant factor. For sand and asphalt surfaces, tires with 100% tread depth and traction pattern are utilized; for rocky or severe terrain, tires with 150% to 250% tread depth are recommended. Consumer preferences for OTR tire replacement could be more consistent since major OE brands offer a large selection of pricey OTR tires.

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OPPORTUNITY: Retreading of OTR Tires

OTR tire life can be increased via retreading. After a thorough inspection, this procedure replaces the worn-out tire tread with a new one. After applying a fresh tread layer with an adhesive layer over the old, buffed tires, the mold cure, also known as pre-cure, is completed. These tires are economical; compared to creating new tires, they save between 30% and 50% of the cost and labor. Retreading is a sustainable option that supports environmental protection laws. Compared to producing new tires, it helps cut emissions and the 740 liters of oil needed to manufacture one tire unit. Numerous retread tire manufacturers have gotten in touch to raise understanding of the retreading process and to facilitate tire remolding when fleet owners' tires wear out. By reusing tires, such programs might lessen the amount of old, worn-out tires that are disposed of, hence lowering environmental hazards. The United States presents a prospective market for retreading tires due to the government's ad hoc laws regarding worn-out tires.

31-70 HP tractors hold the highest market share for the OTR tires in the agricultural tractors segment.
There is a sizable market for 31-70 HP tractors in densely populated nations with low per capita arable land. For instance, the amount of arable land per person in countries like China and India is

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