Off-the-Road (OTR) Tire Market

1. Off-the-Road (OTR) Tire Market by Product (Radial Tires, Bias Tires, Non-Pneumatic Tires), Vehicle Type (Earthmovers, Loader and Dozers, Graders, Material Handling Equipment, Tractors and Agricultural Equipment), End user (Construction, Industrial, Mining, Agriculture, Ports, Other (Defense etc.), OEMs (Original Equipment Manufacturers), and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2027

2. Off-the-Road (OTR) Tire Market 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.

3. Off-the-Road (OTR) Tire Market 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. Request Sample

4. Off-the-Road (OTR) Tire Market 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.

5. Off-the-Road (OTR) Tire Market Key benefits of the report: • This study presents the analytical depiction of the global market along with the current trends and future estimations to determine the imminent investment pockets. • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global off-the-road tire market share. • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global off-the-road tire market growth scenario. • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. • The report provides a detailed global off-the-road tire marketanalysis based on competitive intensity and how the competition will take shape in the coming years. Connect Analyst

6. Off-the-Road (OTR) Tire Market Automotive Accessories Market Key Segments: By Region •North America • • • •Europe • • • • • •Asia-Pacific • • • • • •LAMEA • • • U.S. Canada Mexico UK Germany France Russia Rest of Europe China Japan India Australia Rest of Asia-Pacific Latin America Middle East Africa Customization Request

7. Off-the-Road (OTR) Tire Market COVID-19 scenario analysis: • With the shutdown of all the major industries there is almost zero demand for the tiers or vehicles, which is expected to hamper the market growth. In addition, the inventory kept with tire manufacturers has risen to one month’s worth of production. • Producers are working on strategies to reduce stockpiling such as with production cuts, laying off jobs, etc. • The tires industry is directly connected with the Original Equipment Manufacturers (OEM), hence it will face huge losses till the lockdown is over. • The producers are currently working on strategies, such as production cut, to reduce stockpiling as the tire manufacturers are also facing difficulties with the storage space due to the lockdown. • The slump in tire demand has also nullified the benefits of a sharp decline in natural rubber prices as farmers are unable to tap rubber because of lack of labor, due to which all major activities have been put to halt until further notice.

8. Off-the-Road (OTR) Tire Market Key players profiled in the report include Bridgestone, Michelin, Goodyear, Yokohama Tire, China National Tire & Rubber, MRF, Continental, Belshina, Cheng- Shin Rubber, and Eurotire

9. Off-the-Road (OTR) Tire Market Contact: TollFree (USA/Canada): +1-800-792-5285, +1-503-894-6022, +1-503-446- 1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1⟨855⟩550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com Purchase Enquiry