OTR Tires Market worth 3.4% CAGR by 2028
Bengaluru, July – Off the road tires are mostly used for the heavy duty vehicles for off-road purpose in various industries. These tiers offer great grip over uneven surfaces and various off-the-road vehicles such as cranes, loaders, telescopic handlers, tractors, all-terrain vehicles, trucks and specialized purpose vehicles. These tires are equipped with extreme tread patterns which assist in the vehicle grip in off-road conditions or high terrains off the road.
OTR tire manufacturers are continually investing in research and development to improve tire performance, durability, and resistance to wear and tear. Technological advancements contribute to increased tire lifespan, fuel efficiency, and overall performance, which drive the market growth. Furthermore, the mining industry is a significant driver of the OTR tires market, and as demand for minerals and metals continues to grow, the need for heavy machinery equipped with OTR tires will increase. As new mining projects are developed and existing ones are expanded, the demand for OTR tires for mining equipment, such as haul trucks and loaders, will rise.
In addition, the global infrastructure development, including road construction, bridges, and other large-scale projects, creates opportunities for the OTR tires market. The construction industry relies on heavy equipment equipped with OTR tires for earthmoving and material handling operations.
The OTR Tires Market research report titled as “OTR Tires Market based on Types, Vehicle Types, End Use and Geography – Forecast up to 2028”
Bridgestone Corporation MICHELIN, Prometeon Tyre Group S.R.L., YOKOHAMA Rubber CO. Ltd., China Rubber Tire & Rubber Co. Ltd these are the players dominating in the market.
Owing to the factors such as increasing investments from the government in construction activities, rapidly expanding manufacturing industry and rapid urbanization the Asia Pacific region is has major role in the OTR tires market growth.
The report consists of —- Tables-112 and charts-68 depicting the in-depth market study and the impact analysis of COVID-19 by Vendor name. View detailed TOC here.
OTR Tires Market based on Types:
- Radial Tires
- Bias Tires
OTR Tires Market based on Vehicle Types:
- Loaders
- Dump Truck
- Graders
- Cranes
- Dumpers
- Tractors
- Forklifts
- Others
OTR Tires Market based on End Use:
- Construction and Mining
- Industrial
- Agricultural
- Others
OTR Tires Market based on Geography:
- North America
- Europe
- Asia Pacific
- Rest of the World
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