Press Release

OTR Tires Market worth 3.4% CAGR by 2026

March, 2021

" COVID-19 Impact on OTR Tires market, size, share, growth, industry analysis and forecast 2020-2026 "

Off-the-road tires are primarily used for heavy-duty vehicles for off-road purposes in various industries. These tires offer excellent grip over uneven surfaces for different off-the-road vehicles, including 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.

An increase in the medium-sized farmers worldwide is stimulating agricultural equipment demand, resulting in increased demand for farming tires worldwide. Rising industrialization has escalated transportation activities across the world. Inner-city transport activities, such as B2B and B2C trade, are increasing, accelerating the demand for close-packed and quick transport vehicles to navigate among the cities efficiently. This is driving the OTR tire market.

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Furthermore, the rising population and increasing consumer per capita income worldwide are likely to transform the agriculture sector towards mechanization, which is happening to propel the off-the-road (OTR) tire market worldwide. Growth in tires' technological developments, such as connected tires and TreadStat rim management system, offers information before the vehicle breakdown. This is projected to generate opportunities for the off-the-road (OTR) tire market around the world.

The OTR Tires Market research report titled as "OTR Tires Market based on Types, Vehicle Types, End-Use, and Geography – Global Forecast up to 2026."

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.

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Owing to the factors including increasing government investments in construction activities, rapidly expanding manufacturing industry, and rapid urbanization, the Asia Pacific region has a significant role in the OTR tires market growth.

The report consists of 99 Tables and 68 charts depicting the in-depth market study and the impact analysis of COVID-19. 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

Mr. Karthick Subramani

Infoholic Research LLP

Marketing & Communication