OTR Tires Industry Outlook 2025-2029: Market Set to Cross $12.84 Billion Milestone

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OTR Tires Market Size Growth Forecast: What to Expect by 2025?
The market size of OTR tires has seen significant growth in recent times. The market's value is estimated to increase from $9.66 billion in 2024 to $10.19 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.5%. The growth during the historical period is credited to fast-paced economic growth, heightened construction activities, a surge in mining endeavors, and government subsidies.

How Will the OTR Tires Market Size Evolve and Grow by 2029?
Anticipations are high for robust expansion in the market size of OTR tires over the forthcoming years. The market is projected to inflate to a hefty $12.84 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.0%. This anticipated surge during the prediction period can be credited to a flourishing agricultural sector, a rise in urbanization, and increased infrastructure investment. The prominent trends expected to shape this period include an emphasis on tire sensors and artificial intelligence to track tire performance, an initiative to create and develop tires made from sustainable, eco-friendly materials, a shift towards airless tires eliminating the need for air pressure, a commitment to inventing groundbreaking tire designs, a concentration on launching novel products and the establishment of strategic alliances and collaborations.

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What Drivers Are Propelling the Growth of OTR Tires Market Forward?
The increasing utilization of agricultural machinery in everyday tasks is anticipated to fuel the expansion of the OTR tire market. This surge is linked to the broadening adoption of machines in agricultural practices as a means to replace costly human labor. With a rise in machine hours in farming, there has been a corresponding increase in the employment of agricultural tractors and machinery. This has led to an enhanced uptake of OTR tire-equipped tractors and loaders on farming lands, which in turn has positively steered the OTR tire market. Projections for 2031 by the U.S. Department of Agriculture forecast a 22.5% (36.2 million tons) increase in global soybean trade and 26.7% (41.8 million tons) rise for maize. Furthermore, the Federation of Indian Chambers of Commerce & Industry, a trade association located in India, estimates that by 2030 the nation will need approximately 355 million tons of foodgrains. This requires an additional 5 million tons of annual foodgrain production. Thus, continuing reliance on farming machinery for daily operations propels the OTR tire market.

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Which Emerging Trends Are Transforming the OTR Tires Market in 2025?
The emergence of novel product innovations has been identified as a principal trend gaining traction in the OTR tire market. These innovations, which include tires with enhanced tread wear and greater driver comfort, are becoming increasingly popular. For example, an American tire manufacturing company, Goodyear, released the RL-5K OTR tire in March 2024. This tire features a three-star load capacity rating suitable for heavy-duty loaders and wheel dozers, thus boosting durability and performance in high-demand operations. These tire innovations underscore considerable progress in OTR tire technology, with a particular emphasis on durability, efficiency, and performance. Moreover, JK Tyre, a tire manufacturing company based in India, unveiled eleven new OTR tires at the CII EXCON event in Bengaluru in December 2023. Among the releases was the notable JK Tyre 18.00-25 40PR Port Champion Plus, which was specifically designed for reach stackers. It boasts deep treads, an accurate pattern, and ample rubber at the center, ensuring long-lasting performance, improved mileage, and superior steering ability.

What Are the Key Segments in the OTR Tires Market?
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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Who Are the Key Players Shaping the OTR Tires Market's Competitive Landscape?
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

What Geographic Markets Are Powering Growth in the OTR Tires Market?
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.

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