OTR Tires Market: Steady Growth Expected, Touched $9.66 Billion in 2024 and Poised to Rise 6.0% CAGR by 2029

Increased use of agricultural machines and introductions of innovative designs among factors propelling market growth.

What Is The Projected Market Size Of The Global OTR Tires Market And Its Growth Rate?
The OTR tires market showcases a promising growth trajectory. Here are some key numbers illustrating its growth:

• From $9.66 billion in 2024, market grew to $10.19 billion in 2025, marking a compound annual growth rate (CAGR) of 5.5%.
• Market growth is attributed to factors like rapid economic growth, rising construction and mining activities, and government subsidies.
• Looking ahead, the OTR tires market is set to grow to $12.84 billion by 2029, at a CAGR of 6.0%.
• This growth is ascribed to the rise in agricultural industry, escalating urbanization, and increased infrastructure investment.

What Is Driving The Growth In The OTR Tires Market?
The surge in use of agricultural machines is a significant factor driving growth in the OTR tires market. With rising labor costs, there's a shift towards automation, propelling the use of machine hours in agriculture. This trend has increased consumption of agricultural tractors and machinery, both of which require OTR tires, thus stimulating market growth. For instance, according to the 2031 projections by the United States Department of Agriculture, the world trade of soybeans is forecasted to rise by 22.5% (36.2 million tons) and maize by 26.7% (41.8 million tons). Consequently, the increased use of agricultural machinery is expected to propel the OTR tire market.

For more insights into market dynamics, [Request A Free Sample Copy](https://www.thebusinessresearchcompany.com/sample.aspx?id=6115&type=smp).

Who Are the Key Players Driving OTR Tires Market Growth?
Several major companies are playing pivotal roles in the OTR tires market. They include:
• The Goodyear Tire & Rubber Company
• The Yokohama Rubber Co Ltd
• Michelin
• Continental AG
• Bridgestone Corporation
• Triangle Tyre Co., Ltd
• Apollo Tyres Ltd
• Sumitomo Rubber Industries, Ltd
• Balkrishna Industries Limited
• Aeolus Tyre Co., Ltd

What Are The Key Trends In The OTR Tires Market?
Several key trends are shaping the OTR tires market:
• Use of tire sensors and artificial intelligence to monitor tire performance.
• Introduction of tires made from sustainable and green materials.
• Emergence of airless tires that do not require air pressure.
• Design innovations in tires.
• New product launches and development of new products.
• Increase in strategic partnerships and collaborations.

What Are The Segments Of The Global OTR Tires Market?
The market has been segmented for more effective comprehension:
1) By Type: Radial Tires, Bias Tires, Solid Tires
2) By Process: Pre-Cure, Mold Cure
3) By Vehicle Type: Loaders, Dumpers, Graders, Cranes, Tractors, Forklifts, Other Vehicle Types
4) By Sales Channel: Original Equipment Manufacturer, Aftermarket
5) By Rim Size: Upto 30 Inches, 30-50 Inches, Above 50 Inches
6) By End-User: Mining, Construction And Industrial Equipment, Agriculture, Other End-Users

Which Region Leads The OTR Tires Market?
Asia-Pacific was the largest regional market for OTR tires in 2024. Moving forward, North America is expected to witness the fastest growth rate. Other regions analysed in the report include Western Europe, Eastern Europe, South America, Middle East, and Africa.

Enhance your market understanding through this report - [Pre-book the Report for Swift Delivery](https://www.thebusinessresearchcompany.com/report/otr-tyre-global-market-report).

What Is Covered In The OTR Tires Market Global Market Report?
• Market Size Analysis: Analyze the OTR Tires Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the OTR Tires Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall OTR Tires Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the OTR Tires Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Tailor the report according to your needs - [Request Customization for This Report](https://www.thebusinessresearchcompany.com/customise?id=6115&type=smp).

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.