OTR Tires Market - Forecast(2020 - 2025)

Report Code: AM 74946 Report Format: PDF + Excel (Delivery in 48 Hrs)
The market for OTR Tires is forecast to reach $7.57 billion by 2025, growing at a CAGR of 4.75% from 2020 to 2025. The significant rise in the demand for agriculture, construction and mining machinery is set to boost the OTR tires market during the forecast period 2020-2025. The rising off-high way vehicle sales, is a key driving factor for the OTR tires market. The growing mining activities and the significant deployment of the commercial vehicles is further escalating the market growth rate.

Report Coverage
The report: “OTR Tires Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Product Security & IT Security Assessment market. 

By Product Type: Wheeled, Rubber tyres
By Construction type: Bias tyre, belted bias tyre, radial
By Rim size: <24.9inch, 25.1 inch – 49.9 inch, 50.1 inch – 63.0 inch
By Process: Pre cure, Mold cure
By End user: Construction, Mining, Industrial equipment, agriculture trucks
By Geography: North America, South America, Europe, APAC, and RoW

Key Takeaways
  • Asia-Pacific dominates the OTR Tires industry owing to rising production of automobiles in the region alongside the wide presence of agriculture and construction sector
  • Increasing demand for the off-highway vehicles and the adoption of the advanced technologies such as tire monitoring system is set to contribute to the growth of the market.
  • Increasing adoption of sustainable and environment-friendly automotive components and implementation of stringent government regulations related to automobile emissions will increase the market demand for OTR Tires during forecast period.

End user - Segment Analysis
The commercial vehicles production has risen by 2% in 2019 as stated by OICA majorly due the high demand from agriculture and construction machinery. The construction and mining segment is analysed to hold highest market share in 2019 owing to the vast construction and mining projects in various developing economies. Bacanora Lithium has announced plans to begin the construction of Sonora project in Mexico with an investment of $420mn in the second quarter of 2020, and has also stated that it is set to be Mexico’s first large-scale lithium mine. Therefore the growing projects are significantly set to impact on the market growth rate during the forecast period 2020-2025.

Geography - Segment Analysis
In 2019, APAC dominated the OTR Tires market, followed by North America and Europe. This is majorly attributed to the high procurement of the off highway vehicles in the countries such as China and India. As Agriculture is the major factor for the economies in India, China, Vietnam and so on, the procurement of the agriculture machinery is significantly high thereby contributing to the market growth rate. Adding to this, the growing mining sector is further contributing to the OTR tires market. In 2015, Newmont has also invested $500m in a significant expansion of the Boddington gold mine’s south pit, thereby extending the mine’s lifespan until 2025. All these factors are significantly contributing to the growth of the market during the forecast period 2020-2025.

Drivers –OTR Tires Market
  • Increasing sales of off-highway vehicles
The significant rise in the off-highway vehicles such as tractors, agricultural machinery and so on is set to boost the market growth rate. The increasing adoption of the heavy vehicles in agriculture and construction as well are impacting the growth of the market. Adding to this, the adoption of the monitoring systems for the tyres in the commercial sectors is set to further escalate the market growth rate.
  • Rising mining activities
The significant rise in the mining sector alongside the deployment of the heavy machinery is set to contribute to the growth of the market. In June 2019, Canadian bullion producer Yamana Gold has announced that the current Phase 1 expansion of Brazil-based Jacobina mine is expected to increase the mine’s output to about 170,000 ounces a year by 2021. These growing mining activities is set to drive the OTR tires market during the forecast period 2020-2025.

Challenges – OTR Tires Market
  • Low cost tires from unorganized market
The availability of the low cost tires from the local players as unorganized market is impacting the market growth rate. The significant growth of the local players in the market is certainly hindering the market growth rate. The high adoption of the repair services of the tires from the local players is certainly impacting on the market during the forecast period 2020-2025.

Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the OTR Tires market. Transmission repair driver market is expected to be dominated by major companies such as Continental, Bridgestone, Michelin, Goodyear, Pirelli among others.

Acquisitions/Technology Launches
  • In October 2019, Continental announced plans to launch a bias line of General brand OTR tires in 2020, including L5series, E3 series, and E4 series line.
1. OTR Tires - Market Overview
    1.1  Definitions and Scope
2. OTR Tires - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by type 
    2.3 Key trends segmented by geography
3. OTR Tires – Industry Market Entry Scenario Premium
    3.1 Regulatory Framework Overview
    3.2 New Business and Ease of Doing business index
    3.3 Case studies of successful ventures
    3.4 Customer Analysis – Top 10 companies Investment
4. OTR Tires - Market Forces
    4.1 Market Drivers
    4.2 Market Constraints
    4.3 Market Opportunities
    4.4 Porters five force model
        4.4.1 Bargaining power of suppliers    
        4.4.2 Bargaining powers of customers
        4.4.3 Threat of new entrants
        4.4.4 Rivalry among existing players
        4.4.5 Threat of substitutes 
5. OTR Tires Market – By Product Type(Market Size -$Billion)
    5.1 Wheeled
    5.2 Rubber Tracks
6. OTR Tires Market – By Construction Type(Market Size -$Billion)
    6.1 Bias tire
    6.2 Belted Bias Tire
    6.3 Radial
7. OTR Tires Market – By Rim Size(Market Size -$Billion)
    7.1 < 24.9 inch
    7.2 25.1 inch – 49.9 inch
    7.3 50.1 inch – 63.0 inch
8. OTR Tires  Market -  By Type (Market Size -$Billion)
    8.1 OEM
    8.2 Aftermarket
9. OTR Tires  Market -  By Size (Market Size -$Billion)
    9.1 15-20 inch
    9.2 20.1-25 inch
    9.3 25.1-40 inch
    9.4 40.1-50 inch
    9.5 50.1-60 inch
    9.6 Above 60 inch
10. OTR Tires  Market -  By Process (Market Size -$Billion)
    10.1 Pre-Cure
    10.2 Mold Cure
11. OTR Tires Market – By End User(Market Size -$Billion)
    11.1 Construction & Mining 
        11.1.1 Articulated Dump Truck
        11.1.2 Rigid Dump Truck
        11.1.3 Backhoe Loader
        11.1.4 Asphalt Finisher
        11.1.5 Motor Grader
        11.1.6 Motor Scraper
        11.1.7 RTLT-Masted
        11.1.8 RTLT-Telescopic
        11.1.9 Skid-Steer Loader
        11.1.10 Wheeled Excavator
        11.1.11 Wheeled Loader < 80 HP
        11.1.12 Wheeled Loader > 80 HP
        11.1.13 Crawler Dozer
        11.1.14 Crawler Excavator
        11.1.15 Crawler Loader
        11.1.16 Mini Excavator
    11.2 Industrial Equipment
        11.2.1 Forklift
        11.2.2 Aisle Trucks
        11.2.3 Tow Tractors
        11.2.4 Container Handlers
    11.3 Agriculture Tractors
        11.3.1 <30 HP tractors
        11.3.2 31-100 HP tractors
        11.3.3 101-200 HP tractors
        11.3.4 >200 HP tractors
12. OTR Tires  Market -  By Geography (Market Size -$Billion)
    12.1 North America
        12.1.1 U.S
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 Italy
        12.2.4 France
        12.2.5 Spain
        12.2.6 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Australia
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 India
        12.3.6 Rest of APAC
    12.4 Rest of the World
        12.4.1 Middle East
        12.4.2 Africa
        12.4.3 South America
13. OTR Tires Market- Entropy
14. OTR Tires Market Company Analysis
    14.1 Market Share, Company Revenue, Products, M&A, Developments
    14.2 Company 1
    14.3 Company 2
    14.4 Company 3
    14.5 Company 4
    14.6 Company 5
    14.7 Company 6
    14.8 Company 7
    14.9 Company 8
    14.10  Company 9
    14.11  Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

List of Tables

1 US OTR Tires Market Size 2018
2 Canada OTR Tires Market Share 2018
3 Brazil OTR Tires Market Outlook 2019 - 2023
4 Mexico OTR Tires Market Research 2018
5 Germany OTR Tires Market Trends 2019 - 2023 
6 France OTR Tires Market Growth 2019 - 2023 
7 UK OTR Tires Market Demand 2019 - 2023 
8 Italy OTR Tires Market Segmentation 2018
9 Russia OTR Tires Market Analysis 2019 - 2023
10 China OTR Tires Market Revenue 2019 - 2023
11 Japan OTR Tires Market Volume 2019 - 2023
12 South Korea OTR Tires Market Potential 2019 - 2023
13 India OTR Tires Market Leaders 2018
14 Saudi Arabia OTR Tires Market Forecast 2019 - 2023 
15 Kuwait OTR Tires Market Value 2018

List of Figures

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