Driving Forces Of Agricultural Machinery On OTR Tires Market Growth: A Key Factor Shaping the Future of the OTR Tires Market in 2025

Which drivers are expected to have the greatest impact on the over the otr tires market's growth?
The OTR tire market's growth is anticipated to be driven by the daily use of agricultural machinery. These machines are essential in farming, facilitating agricultural tasks. Due to escalating labor costs, the agricultural sector is witnessing a trend towards automation, resulting in an increase in machine hours used. The growing usage of OTR tire-equipped tractors and loaders in farming underscores the positive impact on the OTR tire market. For instance, the United States Department of Agriculture predicts a 22.5% (36.2 million tons) increase in soybean world trade and a 26.7% (41.8 million tons) surge in maize by 2031. The Federation of Indian Chambers of Commerce & Industry, an Indian trade association, noted that by 2030, India would require approximately 355 million tons of food grain, prompting an additional food grain production of 5 million tons per annum. Hence, the daily use of agricultural machinery propels the OTR tire market.

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What is the future CAGR of the otr tires market, and how will it impact industry expansion?
The market size for OTR tires has seen significant expansion in the past few years. Its anticipated growth is from $9.66 billion in 2024 to $10.19 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.5%. This notable growth in the historical span is credited to swift economic advancement, heightened construction pursuits, increased mining operations, and government financial assistance.

Anticipating robust expansion in the coming years, the market size for OTR tires is projected to reach $12.84 billion in 2029, boasting a compound annual growth rate (CAGR) of 6.0%. The escalation projected over the forecast period is credited to the expansion in agriculture, growing urbanization and surging investment in infrastructure. The period will be marked by key trends including an emphasis on tire sensors and artificial intelligence for monitoring tire performance, the creation and refinement of tires made from sustainable, green materials, the introduction of airless tires that eliminate the need for air pressure, the crafting of inventive tire designs, product launchings and development, as well as strategic alliances and collaborations.

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What are the emerging trends shaping the future of the otr tires market?
The rise of new product developments has been recognized as a notable pattern in the OTR tire market, with customers becoming more familiar with them. Such breakthroughs, notably tires that offer superior longevity of the tread and enhanced driver comfort, are growing more common. To illustrate, Goodyear, a tire producer from the United States, unveiled the RL-5K OTR tire in March 2024. This product comes with a three-star rating for its load capacity, making it ideal for heavy-duty loaders and wheel bulldozers, and improving both its longevity and performance in challenging applications. This product highlights the significant progress made in the field of OTR tire technology, with an emphasis on efficiency, sturdiness, and functional performance. Later, in December 2023, JK Tyre, a tire manufacturing company from India, showcased 11 new Off-the-Road (OTR) tires at the CII EXCON event in Bengaluru. This included the unique JK Tyre 18.00-25 40PR Port Champion Plus, specifically designed for reach stackers. This tire's distinguishing features include deep treads, a precise pattern, and the heavy rubber in the middle. These attributes make it durable, long-lasting, and great for steering performance.

Which key market segments comprise the otr tires market and drive its revenue growth?
The OTR tires market covered in this report is segmented -

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

Subsegments:
1) By Radial Tires: High-Performance Radial Tires, Standard Radial Tires, Specialty Radial Tires
2) By Bias Tires: Cross-Ply Bias Tires, Diagonal Bias Tires, Heavy-Duty Bias Tires
3) By Solid Tires: Solid Rubber Tires, Press-On Solid Tires, Resilient Solid Tires

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What regions are at the forefront of otr tires market expansion?
Asia-Pacific was the largest region in the OTR tires market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the OTR tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the otr tires market?
Major companies operating in the OTR tires market 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, Toyo Tires, Sailun Group, JK Tyre & Industries Ltd, MRF, Tianjin International United Tire & Rubber Co Ltd, Prometeon Tyre Group S.R. L, Metro Exporters Private Limited, CEAT Ltd, GS Tyres GRI, COTON company, Barum (company), Pirelli Tyre Russia Limited Liability Company, Cooper Tire & Rubber Company, Titan, McKees Rocks Forgings Inc, Arbco Industries, LLC, Associated Fastening Product Inc, Kal tire, Camso, AirBoss of America, Waterville TG, Uniroyal, Polycorp, Nexen Tire, Trelleborg, Fate Tire, Rodaco, Rct Tyre, Gomería GMC, Al Rashed Tires, BLATCO Company, Alliance Tyres, Rallyance Ltd

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What Is Covered In The OTR Tires Global Market Report?

• Market Size Forecast: Examine the otr tires market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the otr tires market for a structured understanding.
• Key Players Overview: Analyze major players in the otr tires market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the otr tires market.
• Segment Contributions: Evaluate how different segments drive overall growth in the otr tires market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the otr tires market.
• Industry Challenges: Identify potential risks and obstacles affecting the otr tires market.
• Competitive Landscape: Review strategic developments in the otr tires market, including expansions, agreements, and new product launches.

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