The OTR Tires by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s OTR Tires, The otr tires market size has grown strongly in recent years. It will grow from $9.22 billion in 2023 to $9.73 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to rapid economic growth, the increase in construction activities, the rise in mining activities and government subsidies.
The otr tires market size is expected to see strong growth in the next few years. It will grow to $11.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to the growth in the agricultural industry, the rising urbanization and the rising infrastructure investment. Major trends in the forecast period include focusing on tire sensors and artificial intelligence to monitor tire performance, focusing on introducing and developing tires with sustainable and green materials, focusing on airless tires that do not require air pressure, focusing on developing innovative tire designs, focusing on product launches and developing new products and focusing on strategic partnerships and collaborations.
The use of agricultural machines in day-to-day activity is expected to propel the growth of the OTR tires market going forward. Agricultural machines are the machines that are used in agriculture for farming purposes. Due to higher labor costs, a shift towards automation has increased the use of machine hours in agriculture, leading to the increased use of agricultural tractors and machinery. The growing adoption of OTR tire-based tractors and loaders in agricultural farms positively influences the OTR tires market. For example, according to the 2031 projections by the United States Department of Agriculture, the world trade of soybeans is forecasted to rise by 22.5% (36.2 million tons) and maize by 26.7% (41.8 million tons). Also, according to the Federation of Indian Chambers of Commerce & Industry (FICCI), an India-based trade association, by 2030, India will require around 355 million tons (mt) of foodgrains, which will require an extra 5 mt of foodgrain production year. Therefore, the use of agricultural machinery in day-to-day activity drives the OTR tires market.
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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
Sub segments: Upto 30 Inches, 30-50 Inches, Above 50 Inches, Upto 30 Inches, 30-50 Inches, Above 50 Inches, Upto 30 Inches, 30-50 Inches, Above 50 Inches
The new product innovations have emerged as a key trend gaining popularity in the OTR tires market. Product innovations, including tires that provide improved tread wear and increased comfort to the driver, are gaining popularity in the market. For instance, in March 2021, Goodyear, a US-based manufacturer of tires and rubber, launched the new EV-4M Port Handler with a focus on improved tread wear to help increase efficiency. The new tire features a high-strength bead bundle, sidewall inserts, a stronger wedge, and a durable casing. Improved treadwear, durability, comfort, and stability, as well as higher efficiency and operational efficiency, are all benefits of these tires.
The otr tires market report table of contents includes:
1. Executive Summary
2.OTR Tires Market Characteristics
3.OTR Tires Market Trends And Strategies
4. OTR Tires Impact Market analysis
5. OTR Tires Market Size And Growth
6.OTR Tires Segmentation
7. OTR Tires Regional And Country Analysis
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27.OTR Tires Competitive Landscape And Company Profiles
28.OTR Tires Key Mergers And Acquisitions
29. OTR Tires Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- The Goodyear Tire & Rubber Company
- The Yokohama Rubber Co Ltd.
- Michelin, Continental AG
- Bridgestone Corporation
- Triangle Tyre Co.
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OTR Tires Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2019-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the OTR Tires include Continental, Bridgestone, Nokian, CEAT, Michelin, Pirelli, Goodyear, and CEAT..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global OTR Tires Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/parcel-sortation-systems-market/download-sampleMarket SegmentationThe broad OTR Tires has been sub-grouped into the Application, Process, Type and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
The Global OTR Tires Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.
The report classifies the market into different segments.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global OTR Tires Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/11585-otr-tires-market-reportThe report also covers the complete competitive landscape of the global OTR Tires market with company profiles of key players such as: BridgestoneMichelinGoodyearYokohama TireChina National Tyre & RubberMRFContinentalBelshinaCheng-Shin RubberEurotireLinglong TireBKTAlliance Tire GroupDoublestarTriangleFujian Haian RubberPrinx ChengshanApolloPirelliThe detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT: By Product TypeRadial TiresBias TiresNon-Pneumatic TiresBy Vehicle TypeEarthmoversLoader and DozersGradersMaterial Handling EquipmentTractors and Agricultural EquipmentBy End UsersConstructionIndustrialMiningAgriculturePortsOther (Defense etc.
Besides, the report also represents the market performance by value chain analysis which will help to provide better product differentiation along with the analysis of each segment regarding opportunity, market attractiveness index and growth rate.
These tires mainly made with premium casings and durable compounds.
Off-the-road tires offer substantial support for machinery used at various civil engineering sites, including ultra-large dump trucks, earth and gravel at mining and dam construction sites, bulldozers for earth removal and graders for road construction and snow removal.
The production and sales volume of OTR tires is directly affected by downstream industries and global economy.
Over the past six years, the market of construction and mining equipment has experienced fast growth and decline, as well as the OTR Tires market.
Browse the complete OTR Tires market Report and TOC @ https://www.decisiondatabases.com/ip/16312-otr-tires-market-analysis-report The key manufacturers covered in this report: MichelinBridgestoneGoodyearTitanYokohama TireChina National Tyre & RubberContinentalAlliance Tire GroupBKTGuizhou TireLinglong TireApolloPirelliPrinx ChengshanDouble Coin HoldingsTriangleZhongce RubberFujian Haian RubberShandong Taishan TyreShandong YinbaoDoublestarJK TyreEurotireHawk International RubberTechking Tires Segmentation by product type: Rim Diameter ≤29 inch29 inch＜Rim Diameter≤39 inch39 inch＜Rim Diameter≤49 inchRim Diameter ＞49 inch Segmentation by application: ConstructionMiningPortAgriculturalOther This report also splits the market by region: Americas United States Canada Mexico Brazil APAC ChinaJapan…….
