OTR Tires Market by Application (Construction & Mining Equipment, Industrial Equipment, Agriculture Tractor), Type (Whee
The OTR tires market was valued at USD 5.34 Billion in 2017 and is projected to grow at a CAGR of 4.64% during the forecast period to reach to USD 7.68 Billion by 2025. The OTR tires market is projected to grow due to the increasing demand for agriculture tractors, construction & mining equipment fueled by mechanization and high infrastructural development in developing countries. Due to increased machine hours, the tire replacement time has seen a slight decline in recent times. Retreaded tires cost 1/3rd of the price of new tires and have good durability. Thus, the market for retreaded tires is projected to grow significantly in near future.
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