Quadintel published a recovery-based report for Global “OTR Tires Market” that provides crucial details on company opportunities, growth plans, trends, innovations, the competitive landscape in 2022, and the geographic outlook. Based on relevant market and regional segmentation, a thorough assessment of this worldwide market includes the historical analysis of this market (from 2023 to 2030) and develops reliable and approximative timeline estimations up to 2030.
Get a complete report on Global OTR Tires Market’ (Including Full TOC, 100+ Tables & Figures, and charts). –Covers Precise Information on Pre & Post COVID-19 Market Outbreak by Region.
Global OTR Tires Market is valued at approximately USD 7.00 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.00% over the forecast period 2021-2027.
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OTR tires are off the road tires which are best for commercial trucking fleets. A proper tire selection can mean the difference between unnecessary roadside breakdowns and increased profitability. Also, Off-the-road (OTR) tires may be the best choice for fleets with frequent or continuous off-road applications to avoid the cost of repairs and maintenance. Increased infrastructural development in construction, increase in machine-oriented agricultural practices have led to the adoption of OTR Tires across the forecast period. For Instance: As per the Global Infrastructure Outlook, investments in infrastructural development are estimated to be worth USD 2.8 trillion in 2021, whereas the estimated investment need is USD 3.2 trillion during the year. Also, with the developing alternative cost-effective and recyclable raw materials, the adoption & demand for OTR Tires is likely to increase the market growth during the forecast period. However, availability of low-cost tires impedes the growth of the market over the forecast period of 2021-2027.
Global OTR Tires Market is segmented on the basis of geographical region as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is among the fastest-developing regions due to connectivity set-up and promoting sustainable growth initiatives by the government. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as increasing urbanization, increase in construction and mining activities would create profitable growth prospects for the OTR Tires Market across Asia-Pacific region.
Major market players included in this report are:
Double Coin Tire Group Ltd
Continental AG (Germany)
Bridgestone Corporation (Japan)
Michelin (France)
Goodyear Tire & Rubber Company (US)
Pirelli & C. S.P.A. (Italy)
Yokohama
Hankook Tire
Nokian
Ceat
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the Application within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product:
Wheeled Tires
Rubber Tracks
By Application:
Construction and Mining Equipment
Agriculture tractors
By Agriculture Tractors:
<30 HP
31-70 HP
71-130 HP
131-250 HP
>250 HP
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
Key Market Features in Global Market: The report assessed key market features, including revenue, capacity, price, capacity utilization rate, production rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. The study also offers a thorough analysis of the most important market factors and their most recent developments, as well as pertinent market segments and sub-segments.
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the market opportunities, market risk, and market overview of this industry?
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