The Business Research Company’s OTR Tires Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The OTR Tires Global Market Report 2023 evaluates otr tires market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global otr tires market is expected to grow from $11,289.1 million in 2027 at a rate of 5.3%. The market is then expected to grow at a CAGR of 5.5% from 2027 and reach $14,785.3 million in 2032.
The growth in the agricultural industry is expected to propel the growth of the OTR tires market going forward. The agriculture industry involves enterprises or companies that are involved in cleaning, processing, storing or packing various products, mainly obtained from agricultural production. The agriculture industry relies heavily on heavy-duty vehicles, such as tractors, combines and other farm equipment, that require durable tires to operate effectively. In addition, the adoption of advanced farming practices, such as precision farming and mechanization, has increased demand for larger and more specialized equipment, which in turn requires specialized OTR tires. 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 growth of the agricultural industry will drive the growth of the OTR tires market.
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The otr tires market segments in the report are:
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
The table of contents in TBRC’s otr tires market report includes:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
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26. Company Profiles
27. Key Mergers And Acquisitions
28. Opportunities And Strategies
29. OTR Tires Market, Conclusions And Recommendations
30. Appendix
Top Major Players:
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