Market Research Report
Global OTR Tire Market, By Vehicle Type (Mining, Construction & Industrial Equipment, Agriculture Vehicles & Others), By Demand Category (OEM Vs. Replacement), By Region, Competition, Forecast & Opportunities, 2015-2025
|Published by||TechSci Research||Product code||771624|
|Published||Content info||345 Pages
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|Global OTR Tire Market, By Vehicle Type (Mining, Construction & Industrial Equipment, Agriculture Vehicles & Others), By Demand Category (OEM Vs. Replacement), By Region, Competition, Forecast & Opportunities, 2015-2025|
|Published: February 1, 2020||Content info: 345 Pages||
Global OTR tire market stood at over $ 19 billion in 2019 and is projected to cross $ 31 billion by 2025, on the back of a growing number of infrastructure development projects worldwide. Rapid development in the construction of road & railway network, power supplies, housing infrastructure, industrial structures, etc. have led to the economic growth of several countries across the globe.
The proliferation of mining and quarrying industry and expanding sales and fleet of OTR vehicles, globally, is expected to boost sales of OTR tires in the coming years. Growing mechanization of agriculture farms to increase the agriculture output and decrease the labor cost is also leading to the enhanced use of agriculture equipment, which is also fueling the demand for OTR tires across the world. Some of the other key factors that would positively influence the global OTR tire market include technological advancements, expanding distributor & dealership network, rising adoption of radial tires and increasing penetration of Chinese tires.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
Some of the major players operating in global OTR tire market are Compagnie Generale des Etablissements Michelin (CGEM), Bridgestone Corporation, The Goodyear Tire & Rubber Company, The Yokohama Rubber Co., Ltd., Continental Aktiengesellschaft, Balkrishna Industries Limited, Toyo Tire & Rubber Company, Apollo Tyres Ltd., Hankook Tire Co. Ltd. and Cooper Tire & Rubber Company.
In order to perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of OTR tire manufacturers and suppliers operating in different regions and countries. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. TechSci Research analyzed product offerings, distribution channels and regional presence of all major OTR tire suppliers across the world.
TechSci Research calculated global OTR tire market size using a bottom-up technique, wherein manufacturers' volume sales data for different applications (mining, construction, industrial and agriculture) was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Databases and multiple secondary sources such as European Tyre and Rubber Manufacturers Association (ETRMA), Japan Automobile Tyre Manufacturers Association (JATMA), National Association of Automobile Manufacturers (ANFAVEA) Brazil, Automotive Tyre Manufacturers Association (ATMA) India, The British Tyre Manufacturers Association (BTMA), Society of Motor Manufacturers and Traders of UK (SMMT), Malaysian Rubber Products Manufactures Association (MRPMA), China Rubber industry Association (RIA), International Monetary Fund (IMF), company websites, company annual reports and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as OTR tire manufacturers, distributors and dealers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, global OTR tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Mining, Construction & Industrial Equipment
Others (includes All-Terrain Vehicles, Sports Vehicles, etc.)
Europe & CIS
Company Profiles: Detailed analysis of major companies operating in global OTR tire market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Figure 14 Global OTR Tire Market Share, By Vehicle Type, By Volume, 2015-2025F
Figure 90 Hungary OTR Tire Market Size, By Value (USD Billion), By Volume (Million Unit), 2015-2025F