Global Off the Road (OTR) Tire Market Overview:

According to MarkNtel Advisors study the Global Off-the-Road (OTR) Tire Market is projected to grow at a CAGR of around 4.8% during the forecast period, i.e., 2022-27. Most of the market expansion is driven by the expanding fleet size of heavy-duty vehicles, especially construction & material handling equipment, across the agriculture, building & construction, and mining industries.

Key Findings of the Study: Off the Road (OTR) Tire market

Key Driver: Rapidly Expanding Construction & Mining Sectors Worldwide

With urbanization, various emerging countries are witnessing increasing infrastructure developments like the expansion of transportation networks, massive investments in building roads, bridges, & tunnels, improved supply chain networks for enhanced trade, surging construction activities across commercial & residential sectors, and a rise in manufacturing industries.

Moreover, the mining sector is also growing at a notable pace owing to soaring oil exploration activities & increased government funding. Due to increasing labor costs, there's a dire need for increased productivity & optimum usage of all resources and, in turn, burgeoning production of construction & mining equipment globally. Hence, the growing requirements for heavy equipment across these sectors are leading to the increased production & sales of their tires, i.e., driving the Global Off-the-Road (OTR) Tire Market.

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Scope of the Off the Road (OTR) Tire Market Report Segmentation

-By End-Users

  • Construction
  • Industrial
  • Mining
  • Agriculture
  • Ports

-By Type of Equipment

  • Earth Moving Equipment
  • Material Handling Equipment
  • Agricultural Equipment

-By Type of Tire

  • Radial
  • Bias
  • Non-Pneumatic Tires

-By Demand Type

  • OEMs
  • Aftermarket
  • By Price Category
  • Budget
  • Premium
  • Economy

-By Rim Size

  • Up to 20"
  • 1" to 26"
  • 1" to 35"
  • 1" to 47"
  • Above 47"

For more detailed information about the Off the Road (OTR) Tire market report, click here – https://www.marknteladvisors.com/research-library/global-otr-tire-market-analysis.html

Geographical analysis:

-By Region

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

Of all regions globally, Asia-Pacific is projected to acquire a noteworthy share in the Off-the-Road (OTR) Tire Market during 2022-27, owing to the rapidly expanding automotive industry and massive investments in the road & other infrastructure developments, especially across India & China.

Additionally, the rising number of construction activities, booming farm mechanization rate, and the swiftly growing mining industry with massive investments in oil exploration activities across these countries are creating immense demand for heavy-duty vehicles and, in turn, OTR tires.

Current Landscape of Off the Road (OTR) Tire Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Off the Road (OTR) Tire market. The research report profiles major players, including

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  • 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

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