OTR tire market is anticipated to grow at a significant CAGR of 14.7% during the forecast period (2024-2031). The market growth is attributed to the increasing infrastructure projects globally and an increased need for heavy machinery in the mining, construction, and agricultural sectors accelerating the demand for OTR tires. Furthermore, increasing tire technology innovation including improved tread patterns and durability stimulates market expansion by increasing equipment operator productivity and decreasing downtime.
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The material used in OTR tires is designed to reduce operating temperatures and prolong tire life for more effective operation. Many industry participants provide OTR tires that are more durable, energy-efficient, require less raw materials, emit less CO2, and produce fewer tires that are nearing the end of their useful lives. Different compounds are needed in different parts of tires depending on the specific application of the material. Manufacturers may modify existing compound formulations by using various carbon-black materials, silica, or other curing packages, depending on the application and requirement, to optimize the curing durations for that specific vulcanization. To further strengthen and reinforce the rubber, additional elements can be added, such as silica or carbon black.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global OTR Tire Market by Equipment Type
- Articulated Dump Trucks
- Asphalt Finishers
- Backhoe Loaders
- Motor Graders
- Rigid Dump Trucks
- RTLT-Telescopic
- Skid-steer Loaders
- Wheeled Excavators
- Wheeled Loader
- Others (Agriculture Tractors)
Global OTR Tire Market by Tire Type
- Radial
- Bias
- Solid
Global OTR Tire Market by Application
- Construction & Mining Equipment
- Agriculture Tractors
- Industrial Equipment
- All-Terrain Vehicles
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East & Africa
Company Profiles
- Apollo Tyres Ltd.
- Balkrishna Industries Ltd.
- Camso Inc.
- CEAT Ltd.
- Double Coin (CMA LLC.)
- Giti Tire
- JK TYRE & INDUSTRIES LTD.
- Shandong Linglong Tyre Co.,Ltd.
- MAXAM TIRE
- Michelin North America, Inc.
- Nokian Tyres plc
- Pirelli & C. S.p.A.
- Sumitomo Rubber Industries, Ltd.
- The Carlstar Group
- Titan International, Inc.
- Triangle Group Co., Ltd.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global OTR tire market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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