Off the Road (OTR) Tire Market Share, Size and Future Projections...

Off the Road (OTR) Tire Market Share, Size and Future Projections 2024-2030FY

Δημοσιευμένα 2025-02-21 11:35:07

999

Markntel Advisors’ report, Off the Road (OTR) Tire Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Off the Road (OTR) Tire presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Off the Road (OTR) Tire Market Research Report & Market Summary:

The Global Off-the-Road (OTR) Tire Market size was valued at around USD 24.5 billion in 2023 & is projected to grow at a CAGR of around 4.8% during 2024-30. There are several factors contributing to the growth of the Global Off-the-Road (OTR) Tire Market. There are numerous elements contributing to the growth of the Global Off-the-Road (OTR) Tire Market. The speedy enlargement of the mining sector is one of the most important drivers in the industry. The increasing mining activities globally are creating the necessity for long-lasting and high-performance OTR tires. Heavy-duty equipment that can resist harsh situations is needed for mining activities, pushing the demand for those sturdy tires. Moreover, the boom of urbanization globally is also fueling the demand for these tires for construction works, ultimately enlarging the size & volume of the Off-the-Road Tire Industry.

✅In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 2025 to 2030, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.

If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/global-otr-tire-market-analysis.html

Off the Road (OTR) Tire Market Dynamics:

Key Driver-

Rapidly Expanding Mining Sector Driving Market Growth – The mining sector is a main motive force of the Global Off-the-Road (OTR) Tire Market. The vehicles that should perform in rugged terrains and under hard conditions like loaders, dump trucks, and excavators require specialized OTR tires. The need for mining machines or heavy vehicles is increasing because of growing mining operations globally. These mining vehicles require long-lasting and reliable tires to navigate hard terrains and heavy masses, leading to an extra demand for OTR tires. This trend underscores the essential role that sturdy and resilient tire solutions play in the performance and protection of mining operations. Specialized OTR tires will continue to be important in aiding the growth and operational fulfillment of the mining industry.

Off the Road (OTR) Tire Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By End-Users

Construction
Industrial
Mining
Agriculture
Ports

By Type of Equipment

Earth Moving Equipment

Excavator
Roller
Bulldozer
Cranes
Grader
Loader
Others

Material Handling Equipment

Tipper
Forklift

Agricultural Equipment

Tractor
Farm Trucks
Harvester
Others

Of these three, Agricultural Equipment acquired the largest share of the Global Off-the-Road (OTR) Tire Market in the previous years, mainly due to a rising number of medium-sized farms and the shifting end-user preferences toward using advanced farm equipment to perform various agricultural activities efficiently.

By Type of Tire

Radial
Bias
Non-Pneumatic Tires

By Demand Type

OEMs
Aftermarket

Here, the aftermarket segment acquired a larger market share than OEMs. OTR tires have a relatively shorter life span than normal ones.

By Price Category

Budget
Premium
Economy

By Rim Size

Up to 20"
20.1" to 26"
26.1" to 35"
35.1" to 47"
Above 47"

By Region

North America
South America
Europe
Middle East
Africa
Asia-Pacific.

Of all regions globally, Asia-Pacific is projected to acquire the largest share of the Off-the-Road Tire Industry during 2024-30, owing to the rapidly expanding automotive industry and massive investments in the road & other infrastructure developments, especially across India & China.

As indicated in the latest market research report published by Markntel Advisors, “Off the Road (OTR) Tire Research Report: Forecast (2024-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Off the Road (OTR) Tire industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/global-otr-tire-market-analysis.html

Top Companies Operating in the Off the Road (OTR) Tire Market:

Yokohama Rubber Co.
Goodyear Tire and Rubber Company
Apollo Tyres Ltd.
Bridgestone Corporation
Prometeon Tyres Group S.R.L
China National Tyre and Rubber
Michelin
Hankook Tyre Co. Ltd.
Toyo
Continental
Balkrishna Industries Limited
Triangle.

*Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*

Other Report

Key Report Highlights:

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services .

Frequently Asked Questions (FAQs)-

What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
What are the trends influencing the current scenario of the market?
What leading factors would propel and impede the industry across the geography?
How has the industry been evolving in terms of geography & Off the Road (OTR) Tire Market adoption?
How has the competition been shaping up across the geography?

Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

About Us –

We are a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.