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OTR Tires Market Size to Surpass USD 14.02 Billion by 2029, at a 6.25% CAGR from 2022 to 2029

OTR Tires Market

OTR Tires Market 2023 Size-Share, Global Trends, Key Players Strategies, Upcoming Demand, Business Opportunities, Revenue, Gross Margin and Forecast 2029

OTR tires market is experiencing robust growth, driven by expanding construction and mining activities, rising demand for heavy-duty vehicles, and indicating a strong upward trajectory.”

— Exactitude Consultancy

LUTON, BEDFORDSHIRE, UNITED KINGDOM, December 1, 2023 /EINPresswire.com/ — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the OTR Tires Analysis Report.

According to a Comprehensive Research Report by Exactitude Consultancy, “OTR Tires Market by equipment type, agricultural tractors, Industrial equipment, Product type, Tire Type, Rim Size, process, Application, Region – Global Forecast from 2022 to 2029”, The global OTR Tires market size is USD 8.27 billion in 2020 and is expected to grow till USD 14.02 billion by 2029, at a Compounded annual growth rate (CAGR) of 6.25%.

Global population growth and increased disposable income would likely push the horticultural sector toward motorization, which will likely boost the OTR Tires Market globally. increasing mechanical innovation in tires, such as related tires and the TreadStat rim management system that provides information prior to a vehicle breakdown. This is anticipated to propel the global OTR tire market. The study on the global OTR tire market offers a comprehensive analysis of the industry. The study provides a thorough examination of the market’s major segments, trends, drivers, constraints, competitive environment, and other elements that are significantly influencing it.

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Note – This Report Sample Includes:

A summary of the research work.

Table of Contents The study’s depth of coverage

Market participants at the forefront

The research framework of the report’s structure

Exactitude Consultancy’ research methodology

Recent Developments

In September 2022, Bridgestone Corporation invested USD 60 million to expand its Bridgestone Bandag, LLC manufacturing plant in Abilene, Texas. The expansion of the Abilene plant is aimed at the growing demand for the company’s tread rubber products, driven by the rapid growth of its retread business. The expansion includes an immediate increase in operational activity by running on 6- and 7-day production schedules and the construction of new mixing operations at the facility.

In June 2022, Michelin acquired 51% of Royal Lestari Utama (RLU), a pilot project developing sustainable rubber tree plantations in Indonesia. This deal will provide Michelin with more sustainable rubber raw material for its products, thus improving its sustainability image.

OTR Tires Market Competitive Landscape:

The major vendors in the OTR Tires industry are

Continental AG, Bridgestone Corporation, Michelin, Goodyear Tire & Rubber Company, and Pirelli & C. S.p.A.

Some points on how the report benefits stakeholders:

The OTR Tires Market reports include historical (2018–2020) and forecast (2022–2029) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.

The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.

Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2029.

The OTR Tires Industry report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.

The report contains company profiles of the top companies operating in the OTR Tires market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

OTR Tires Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.

Browse Full Premium Report | OTR Tires Market Analysis with Strategic Developments


What are the market factors explained in the report?

Key Strategic Developments: The study includes key strategic developments of the OTR Tires, comprising R&D, new product launch, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, and regional growth of key competitors operating in the market globally and region.

Key Market Features: The report analyzed key market features including price, revenue, capacity, supply/demand, capacity utilization rate, gross production, production rate, market share, consumption, import/export, cost, CAGR and gross margin. Furthermore, the report also offers a comprehensive study of the key OTR Tires dynamics and its latest trends, along with relevant market segments and sub-segments.

Analytical Tools: The Global Outsourced OTR Tires report includes accurately researched and analyzed data on the key industry players and their scope in the market through various analytical tools. Analytical tools such as Porter’s five forces analysis, feasibility study, and ROI analysis have been used to analyze the growth of the key players operating in the market.

Regional Analysis

The OTR Tires market by region includes Asia-Pacific (APAC), North America, Europe, South America, and Middle East & Africa (MEA).

North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA

Geographically speaking, the Global OTR Tires Market is divided into four regions: Asia Pacific (China, Japan, India, and the rest of Asia Pacific), Europe (Germany, France, UK, and The Rest of Europe), North America (the United States, Canada, and Mexico), and the Rest of the World (Latin America, the Middle East, and Africa). During the forecast period, Europe and the Asia Pacific region are expected to be very profitable commercial sectors. It is anticipated that the market would shift around the district due to the quick expansion of assembly enterprises throughout Asia Pacific. A rise in government interest in development projects would most likely increase demand in construction vehicles, which will drive the market in Asia Pacific and Europe.

Frequently Asked Questions

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About Exactitude Consultancy

Exactitude Consultancy is a market research consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.

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Article originally published on www.einpresswire.com as OTR Tires Market Size to Surpass USD 14.02 Billion by 2029, at a 6.25% CAGR from 2022 to 2029

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