Report Code: A10084 | Pages: NA | Mar 2023 | 2946 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Off-the-road (otr) Tire Market
Request Now !Off-the-road (OTR) tires are largely utilized in heavy-duty vehicles for off-road applications in the mining, agriculture logistics, and housing industries. Off-the-road (OTR) tires are designed to improve performance and stability and provide traction on different unpaved surfaces including sand, mud, dirt, and others. The growth of the housing industry in developing countries has fueledthe demand for construction and material handling equipment, which in turn isexpected to boostthe growth of the off-the-road tires market significantly. Off-the-road (OTR) tires are widely used at dam construction sites, civil engineering sites, sand and gravel at mining, agriculture sector, and others. Moreover, the growth of the market is further driven by the rise inthe use of off-the-road vehicles such ascranes, wheel loaders, telescopic handlers, tractors, and special purpose vehicles.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast units | Value (USD) |
Segments covered | Product, Vehicle, End Users, Target Market, Geography |
Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa |
Companies covered | Bridgestone, Michelin, Goodyear, Yokohama Tire, China National Tire & Rubber, MRF, Continental, Belshina, Cheng-Shin Rubber, and Eurotire |
COVID-19 scenario analysis:
Top impacting factors: Market scenario analysis, trends,drivers, and impact analysis
The factorssuch as an increase inthe sales of off-highway vehicles and a rise in farm mechanizationboost the growth of the global off-the-road tire market. Moreover, extreme weather conditions and low-cost tires from an unorganized market restrain the growth of the global market.However,the introduction of eco-friendly off-the-road tires is anticipated toprovide lucrative growth opportunities for market expansion.
The global Off-the-road (OTR) tire markettrends are as follows:
Increase in the sales of off-highway vehicles
The off-the-road vehicles industry is currently witnessing a complete change in manufacturing globally. The majorfactor that boosts the growth of the off-the-road vehicles market isan increase inthe adoption of off-road vehicles in military and recreational operations. Off-road trucks are utilized in military operations to move cargo, fuels, and ammunition. These vehicles are also utilized for the transportation of heavy loaded weapons during wars. Furthermore, advanced technologies like Global Positioning System (GPS) on these vehicles, for creating field boundaries and marking field lines, permitto decrease soil compaction and save planting time by plotting the lines.
Increase in farm mechanization
Off-road machines are used to carry out major day-to-day operations in the farm and agriculture industry. Utility off-road vehicles are utilized for agricultural operations as an example in crop plotting and scouting, for selecting rocks, for irrigation purposes,and so on. Nowadays, most of the work is been carried out using this machinery in the fields, which leads to the replacement of tires at regular intervals which is expected to boost the growth of the global off the road tire market during the forecast period.
Key segments covered:
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Key benefits of the report:
Questions answered in the off the road tire market research report:
Off-the-Road (OTR) Tire Market Report Highlights
Aspects | Details |
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By Region |
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Key Market Players | Bridgestone, Michelin, Goodyear, Yokohama Tire, China National Tire & Rubber, MRF, Continental, Belshina, Cheng-Shin Rubber, Eurotire |
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