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Increasing use of heavy machineries and equipment in agriculture,
mining and industrial sectors coupled with growing infrastructure and
construction sectors to drive global OTR tire market through 2023

According to TechSci Research report, “

Global OTR Tire Market


By Vehicle Type, By Demand Category, By Region, Competition, Forecast
& Opportunities, 2013-2023

”, global OTR tire market is projected to surpass $ 26 billion by 2023, on
account of growing OTR vehicle sales, increasing OTR vehicle fleet size and
steadily rising OTR tire prices. With increasing number of development
activities being witnessed across the globe, especially in construction,
mining and industrial sectors, demand for OTR tires is expected to increase
at a healthy pace during the forecast period.

Browse 37 market data Tables and 247 Figures spread through
345 Pages and an in-depth TOC on
“Global OTR Tire Market”



https://www.techsciresearch.com/report/otr-tire-market/3725.html

In 2017, mining, construction & industrial equipment segment dominated
global OTR tire market and the trend is anticipated to continue during the
forecast period. Owing to the introduction of various plans and programs
for the development of infrastructure by the government of various
countries, demand for OTR vehicles, which are mainly used for mining,
construction & industrial purposes, is growing at a global level, which
in turn is fueling demand for OEM and replacement tires for mining,
construction & industrial equipment.

Asia-Pacific accounts for nearly half of the market, backed by several
infrastructure and construction projects across the region. Projects like
“One Belt One Road” (OBOR) project in China, which would involve an
investment of USD4-6 trillion, is under pipeline, while ongoing projects
such as Beijing Shanghai High Speed Railway project, Xiluodu Dam project,
Delhi-Mumbai Industrial Corridor, East Coast Rail Link, Kuala Lumpur-Tumpat
projects, Kayan River Hydropower Project and North Kalimantan are boosting
demand for construction equipment, which in turn is aiding the global OTR
tire market.

Furthermore, growing demand for OTR replacement tires from OTR vehicle
fleet owners is anticipated to fuel the OTR replacement market tire during
forecast period. Michelin is the leader in the global OTR tire market,
backed by a varied product portfolio and wide dealership network across the
globe. Moreover, presence of various companies like Bridgestone, BKT and
Yokahama is intensifying competition in the global OTR tire market, as they
are coming with competitive pricing strategy and advanced OTR tire
technology.

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“With expanding construction, mining and agriculture industries along with
proliferation in agriculture vehicle fleet, will propel the demand for OTR
tires, globally, witnessing growth of the market at a healthy rate in the
coming years, which is expected to aid growth in global OTR tire market.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.

“Global

OTR Tire Market


By Vehicle Type, By Demand Category, By Region, Competition, Forecast
& Opportunities, 2013-2023”

has analyzed the potential of OTR tire market, globally, and provides
statistics and information on market size, shares and trends. The report
will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides,
the report also identifies and analyses emerging trends along with
essential drivers and key challenges faced by the global OTR tire market.