Published: Oct, 2018

Transparency Market Research has published a new report titled, “Off the Road (OTR) Tire Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026”. According to the report, the global OTR tire market is anticipated to surpass US$ 29 Bn by 2026, expanding at a CAGR of more than 4% during the forecast period. 

Growing urbanization and sustained investments in construction are driving the usage of construction vehicles, thus boosting the demand for OTR tires. The Trump government has set plans for an infrastructure investment of US $ 1.7 Trn to develop rural infrastructure, highways and bridges. The EU–China deal, named Belt and Road Initiative, of US$ 9 Bn to construct an intercontinental highway is expected to drive the demand for construction vehicles, thereby boosting the demand for OTR tires. Increased industrial activities in Asia Pacific and Latin America is driving the sales of electric forklifts and warehouse trucks. Demand for lean production is driving the adoption of large number of industrial vehicles within facilities and warehouse, which in turn is boosting the OTR tire market.

otr tires market

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Based on industry, the agriculture segment is expected to dominate the global OTR tire market both in terms of volume and revenue. Modernization of agricultural activities and rising consumer demand due to rising population are boosting the adoption of tractors and agricultural equipment, which in turn is driving the demand for OTR tires. The construction & mining segment of the market in Asia Pacific, Latin America, and Middle East & Africa is expected to expand at a high growth rate during the forecast period. Recovery of the economy of Brazil is expected to witness higher budgeting for infrastructure, thus boosting the sales of construction vehicles. This, in turn, is anticipated to propel the OTR tire market in the country.

Giant OTR tires of 51’’ to 63’’ rim size are expected to witness a significant demand owing to rise of construction projects in developing countries. The stability of commodity prices has boosted the mining sector. Usage of dump trucks, excavators, scrappers, and other mining vehicles to improve the output is expected to boost the demand for OTR tires.

Asia Pacific is a key market for OTR tires. Abundance of natural rubber in the region has played an instrumental role in achieving competitive pricing of OTR tires. Rapid economic expansion witnessed by countries in Asia Pacific is expected to boost industrial activity and construction projects, thus driving the OTR tire market in the region.

The aftermarket segment is expected to lead the sales channel segment of the global OTR tire market due to the need for replacement of tires. Demand for replacement of OTR tires is considerably high, as these tires are employed in rugged terrain and work under heavy load conditions.

Key players operating in the global OTR tire market for automotive include Continental AG, Bridgestone Corporation, MICHELIN, The Good Year Tire Company, Prometeon Tyre Group S.R.L., Yokohama Tire Corporation, Sumitomo Rubber Industries, Ltd., Nokian Tyres, China National Tire & Rubber Co., Ltd., JK Tyre & Industries Ltd., Trelleborg AB, Apollo Tyres Ltd., Quindao Rhino Tyre Co., Ltd., Titan, International Inc., and Balkrishna Industries Limited, Double Coin Tyre Group Ltd., and Triangle Group Co., Ltd.

The global OTR tire market for automotive has been segmented as follows:

  • Global Off the Road (OTR) Tire Market, by Industry
    • Construction & Mining
      • Excavator
      • Loader
      • Dozer
      • Articulated Dump Truck
      • Rigid Dump Truck
      • Motor Scrapper
      • Motor Grader
    • Agriculture
      • Tractors
      • Agricultural Equipment
    • Industrial
      • Electric Rider Trucks
      • Electric Warehouse Trucks
      • IC Trucks
  • Global Off the Road (OTR) Tire Market, by Tire Type
    • Radial
    • Bias
    • Solid
  • Global Off the Road (OTR) Tire Market, by Rim Size
    • <25’’
    • 29’’-49’’
    • 51’’-63’’
  • Global Off the Road (OTR) Tire Market, by Aftermarket Industry
    • Construction & Mining
    • Agriculture
    • Industrial
  • Global Off the Road (OTR) Tire Market, by Sales Channel
    • OEM
    • Aftermarket
  • Global Off the Road (OTR) Tire Market, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • France
      • U.K.
      • Spain
      • Italy
      • Rest of Europe
    • Asia Pacific
      • Japan
      • China
      • India
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America

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