OTR Tire Market Size, Growth and Share 2023, Revenue, Trends, Competitive Analysis, Future Opportunities and Forecast 2030

 

Heavy-duty vehicles frequently employ off-the-road (OTR) tires for off-road operations in the construction, mining, and agricultural sectors. Off-the-road (OTR) tires are designed to increase grip on a variety of unpaved conditions, including sand, mud, dirt, and others, while also enhancing stability and performance. The development of the housing sector in emerging nations has increased the need for construction and material handling equipment, which is anticipated to have a large positive impact on the market for off-road tires. Off-the-road (OTR) tires are frequently used in the agriculture industry, civil engineering, sand and gravel mining, and construction of dams, among other places.

 

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GROWTH DRIVERS

The obvious effects of globalization have led to significant increases in infrastructure building in the majority of developing nations worldwide. Infrastructure includes a growing network of roads, bridges, and tunnels for simpler commuting, an improved supply chain system for better trade, growing manufacturing sectors, and the construction of new buildings. The desire for modern machines is projected to boost the demand for construction and mining equipment due to rising labor costs, the need for enhanced productivity, and making the greatest use of available resources. The Global Infrastructure Outlook predicts that in 2021, investments in infrastructure development will be worth USD 2.80 trillion, with a total investment demand of USD 3.20 trillion.

The OTR Tires market is anticipated to expand as a result of the use of commercial vehicles such mining trucks, earth movers, tractors, and other agricultural equipment. The installation of agricultural equipment with OTR tires for their agricultural fields is being driven by the growing populations in nations like China, India, and others, and this is projected to boost the market for OTR tires in the next years.

OTR TIRES MARKET SEGMENTATION

By Equipment Type

·         Articulated Dump Trucks

·         Asphalt Finishers

·         Backhoe Loaders

·         Crawler Dozer

·         Crawler Excavators

·         Crawler Loaders

·         Mini Excavators

·         Motor Graders

·         Rigid Dump Trucks

·         RTLT-Telescopic

·         Skid-Steer Loaders

·         Wheeled Excavators

·         Wheeled Loaders <80 HP

·         Wheeled Loaders >80 HP

·         Agriculture Tractors

·         Others

 

By Application

·           Construction and Mining Equipment

·           Agriculture tractors

o     <30 HP         

o   31-70 HP

o   71-130 HP

o   131-250 HP

o   >250 HP

o   Industrial Equipment

o     Forklifts

o     Aisle Trucks

o     Tow Tractors

o     Container Handlers

 

By Product Type

o   Wheeled Tires

o   Rubber Tracks

 

By Tire Type

·         Radial

·         Bias

·         Solid

 

By Rim Size

·         Up to 30 inches

·         30-50 inches

·         Above 50 inches

 

Retreading, By Process

·         Pre-cure

·         Mold cure

 

Retreading, By Application

·         Construction and Mining Equipment

·         Agriculture tractors

 

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

KEY COMPANIES IN OTR TIRES MARKET

·         Apollo Tires Ltd

·         Balkrishna Industries Ltd

·         Belshina

·         Bridgestone Corporation

·         Ceat

·         China National Tire & Rubber Co., Ltd

·         Continental Ag

·         Double Coin Tire Group Ltd

·         Eurotire

·         Goodyear

·         Hankook Tire

·         Jk Tire & Industries Ltd

·         Linglong Tire

·         Michelin

·         Mrf

·         Nokian

·         Otani Tire Co. Ltd.

·         Pirelli

·         Qingdao Rhino Tire Co., Ltd

·         Sumitomo

·         Techking Tires Ltd

·         Titan International, Inc.

·         Trelleborg Ab

·         Triangle Tire

·         Yokohama

·         Other Players

 

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