OTR Tire Market: Industry Size and Share Expected to Grow Rapidly by 2028

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Growth Predicted for OTR Tire Market, Expected
to Reach USD 35,281.43 million by 2027
TechSci Research has released a report titled
"OTR Tire Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast. 2017- 2027,"
predicting that the Global OTR Tire Market will
see a robust growth rate of 5.01 by volume
during the forecast period. This growth is
attributed to the increased manufacturing and
demand for OTR tires worldwide. The largest
producer and market for OTR tires is the
Asia-Pacific region, with China, India, and Japan
dominating the market. The China OTR tire market
is expected to grow at a CAGR of 5.18 by volume
between 2022 and 2027. The Global OTR Tire Market
is classified according to vehicle type, demand
category, tire construction type, and region. The
market is
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segmented into Mining, Construction Industrial
Equipment, Agriculture Vehicles, and Others
(which includes All-Terrain Vehicles, Sports
Vehicles, etc.) based on the type of vehicle. The
increasing sales of these vehicles are expected
to drive the demand for OTR tires globally. The
replacement segment is expected to experience the
fastest growth rate in the forecast years,
followed by the original equipment manufacturers
(OEM). The rise in demand for OTR tires globally
is projected to continue as OTR tire
manufacturers adopt new technologies and develop
sustainable production methods. This will result
in more dependable products, and the companies
are anticipated to increase their production
capacities to meet the growing demand for OTR
tires worldwide. The COVID-19 pandemic led to a
decrease in OTR tire sales due to the
implementation of lockdowns to prevent the spread
of the virus, halting mining, construction, and
agriculture activities. However, as these
activities return to pre-pandemic levels, the
industry is now witnessing a rise in demand for
OTR tires, which is expected to surge globally
in the forecast period. The ongoing technological
advancements in the industry are expected to
yield positive results for the global OTR tire
market in the coming years.
Browse over 180 market data Figures and spread
through 265 Pages and an in-depth TOC on "
Global OTR Tire Market " - https//www.techscires
earch.com/report/otr-tire- market/3725.html Based
on the tire construction type, the market is
segmented into radial OTR tires and bias OTR
tires. The bias OTR tires have a higher market
share because, comparatively, bias tires are
manufactured with more rubber and that makes
them more resistant to cuts and
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• punctures. They are also more flexible. Because
  of all these factors, bias OTR tires have a
  higher market share globally. whereas the radial
  OTR tire segment has a higher growth rate for the
  forecast period 2022-2027F.
• China, the US, India, and Germany are the largest
  OTR tire producers and markets across the globe,
  and overall, APAC holds the top position in the
  global OTR tire market, followed by North America
  and Europe. These regions also have key OTR tire
  manufacturers.
• Some of the major companies operating in the
  Global OTR Tire Market include
• Apollo Tyres Ltd.
• Bridgestone Corporation
• The Michelin Group
• Continental AG
• Goodyear Tire and Rubber Company
• Madras Rubber Factory Ltd.
• The Yokohama Rubber Co., Ltd.
• Balkrishna Industries Limited (BKT)
• Toyo Tire Corporation
• Zhongce Rubber Group Co., Ltd.
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  research.com/sample-report.aspx?cid3725
• Customers can also request for 10 free
  customization on this report.

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An increase in the demand for agricultural
vehicles, construction equipment, mining
activities, industrial operations will drive the
market, and the increasing infrastructure
investments across the globe will also help the
market grow in the forecast time period, "said
Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management
consulting firm. Global OTR Tire Market
Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2017-2027 Segmented By
Vehicle Type (Mining, Construction Industrial
Equipment, Agriculture Vehicles, Others), By
Demand Category (OEM, Replacement), By Tire
Construction Type (Radial, Bias), By Region, has
evaluated the future growth potential of Global
OTR Tire Market and provides statistics
information on market size, structure, and
future market growth. The report intends to
provide innovative market intelligence and help
decision makers take sound investment decisions.
Besides, the report also identifies and analyzes
the emerging trends along with essential drivers,
challenges, and opportunities in the Global OTR
Tire Market. Download Free Sample Report -
https//www.techsciresearch.com/sample-report.aspx
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