Title: OTR Tires Market - Forecast(2022 - 2027)
1OTR Tires MarketMarket size, Industry outlook,
Market Forecast, Demand Analysis, Market Share,
Market Report 2022-2027
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- OTR Tires Market size was valued 7.5 billion in
2020 and is estimated to grow at a CAGR of
3.5 during 2021-2026. The growing demand for
mining, agriculture and construction are fueling
the OTR Tire market. - Additionally, the rising demand for commercial
vehicles and the need for off-the-road tires for
optimal performance including glass transition
temperature are driving the growth of the market.
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- Key Takeaways
- The OTR Tires Market is dominated by North
America owing to increase in infrastructure
development and advanced technologies which are
enhancing the growth of this market in North
America. - Agriculture sector being the most important
factor for countries like India, China and other
are driving the market, the requirement for
agricultural vehicle like tractors are rapidly
increasing which in turns boost up the OTR Tires
market. - The significant rise in the mining sector and
deployment of the heavy machinery is expected to
boost the market growth of OTR Tires.
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OTR Tire Market Segment Analysis By
Application Agriculture segment held the largest
market share in the OTR Tires Market at 30.5 in
2020. The rise in agricultural activities and
increase in revenue of farmers has led to
increase in use of tractors and other agriculture
machinery which is driving the OTR Tire market.
The factors such as infrastructure development in
developing countries are expected to have
significant growth in forecasted period. Hence
the use of construction and mining vehicles in
developing countries are rapidly increasing which
increase the demand for OTR Tires.
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- OTR Tire Market OutLook
- Michelin,
- Bridgestone Corporation,
- Goodyear Tire Rubber Company,
- Pirelli, Goodyear Tire,
- Alliance Tire Group,
- Toyo Tire Rubber Company,
- Double Coin Holdings,
- Yokohama, GRI Tyres,
- Apollo Tyres Ltd.
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OTR Tires Market -
Forecast(2022 - 2027) Learn More About the
Report _at_ https//www.industryarc.com/Report/192
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