North America OTR Tire Market Size 2022-2027 | Business Growth, Industry Report and Forecast

The North America OTR tire market reached a volume of 405.0 thousand units in 2021. The market is expected to reach 580.7 thousand units by 2027, CAGR of 6.5%

SHERIDAN, WYOMING, USA, February 27, 2023 /EINPresswire.com/ -- The latest research study “North America OTR Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the North America OTR tire market reached a volume of 405.0 thousand units in 2021. Looking forward, IMARC Group expects the market to reach 580.7 thousand units by 2027, exhibiting at a CAGR of 6.5% during 2022-2027.

Off-the-road (OTR) tires are deeply-treaded tires specifically designed to provide excellent traction over uneven surfaces such as rock, mud, loose dirt, or gravel. They are typically fitted on various vehicles, including cranes, wheel loaders, telescopic handlers, tractors, military trucks, all-terrain vehicles (ATVs), and specialized purpose vehicles. They offer excellent handling, high tread life, superior durability, improved vehicular performance, optimum stability, and reduced contact patch area. As a result, OTR tires find extensive applications in the construction, mining, recreation, and agriculture sectors across North America.

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North America OTR Tire Market Trends and Drivers:

The North America OTR market is primarily driven by the rising development of numerous infrastructural projects such as housing facilities, industrial complexes, and road and railway networks. Moreover, heavy investments in the upgradation of commercial structures, including bridges, highways, dams, and power supply grids, across various terrains are positively influencing the market growth.

Additionally, the increasing deployment of heavy-duty construction equipment, such as forklifts, cranes, and bulldozers, for enhancing worker safety has augmented the product demand. Furthermore, the surging adoption of integrated farm machinery for various labor-intensive tasks in the agriculture sector is contributing to market growth.

Other factors, including rising construction activities, the emergence of advanced product variants, and rapid expansion in the mining industry, are also anticipated to create a positive market outlook.

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North America OTR Tire Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

OTR Tire Companies :

Bridgestone Corporation, CMA, LLC, Continental AG, Cooper Tire & Rubber Company, Titan International, Inc., Michelin, Nokian Tyres plc, The Yokohama Rubber Co, Ltd., Toyo Tire Corporation, Trelleborg AB, Triangle Tyre Co., Ltd, and Pirelli & C. S.p.A.

The report has segmented the market on the basis of region, demand, tire size, tire type, vehicle type and distribution channel.

Breakup by Demand:
• Original Equipment Market
• Replacement Market

Breakup by Tire Size:
• Top Tire Sizes in 24’’-30’’
• Top Tire Sizes in 31’’-35’’
• Top Tire Sizes in 36’’-39’’
• Top Tire Sizes in 40’’-50’’
• Top Tire Sizes in 51’’-55’’
• Top Tire Sizes in 56’’-63’’

Breakup by Tire Type:
• Radial Tire
• Bias Tire

Breakup by Vehicle Type:
• Mining Vehicles
• Construction & Industrial Vehicles
• Agricultural Vehicles
• Others

Breakup by Distribution Channel:
• Offline
• Online

Breakup by Country:
• United States
• Canada

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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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