OTR Tires Market worth 7.68 Billion USD by 2025
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.
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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<strong>OTR</strong> <strong>Tires</strong> <strong>Market</strong> <strong>worth</strong> <strong>7.68</strong> <strong>Billion</strong> <strong>USD</strong> <strong>by</strong> <strong>2025</strong><br />
The report "<strong>OTR</strong> <strong>Tires</strong> <strong>Market</strong> <strong>by</strong> Application (Construction & Mining Equipment,<br />
Industrial Equipment, Agriculture Tractor), Type (Wheeled, and Track), Retreading<br />
<strong>Market</strong> <strong>by</strong> Application, Process (Mold Cure and Pre-Cure), and Region - Global<br />
Forecast to <strong>2025</strong>", The <strong>OTR</strong> tires market, <strong>by</strong> value, is projected to grow at a CAGR of<br />
4.64% from 2017 to <strong>2025</strong> to reach <strong>USD</strong> <strong>7.68</strong> <strong>Billion</strong> <strong>by</strong> <strong>2025</strong> from <strong>USD</strong> 5.34 <strong>Billion</strong> in 2017.<br />
The market is projected to grow due to key reasons such as increasing demand for<br />
agriculture tractors and construction & mining equipment caused <strong>by</strong> mechanization and high<br />
infrastructural development in developing countries. The increase in manufacturing activities<br />
in developing economies is projected to drive the market for industrial equipment tires.<br />
Browse 99 market data Tables and 56 Figures spread through 183 Pages and in-depth<br />
TOC on "<strong>OTR</strong> <strong>Tires</strong> <strong>Market</strong> <strong>by</strong> Application (Construction & Mining Equipment,<br />
Industrial Equipment, Agriculture Tractor), Type (Wheeled, and Track), Retreading<br />
<strong>Market</strong> <strong>by</strong> Application, Process (Mold Cure and Pre-Cure), and Region - Global<br />
Forecast to <strong>2025</strong>"<br />
https://www.marketsandmarkets.com/<strong>Market</strong>-Reports/otr-tire-market-205158802.html<br />
Early buyers will receive 10% customization on reports.<br />
“<strong>OTR</strong> tires for Agriculture tractors accounts to have the largest market”<br />
Among all the applications agriculture tractors segment is expected to account for the largest<br />
market share in 2017. The
The key companies profiled in the study are as Continental (Germany), Bridgestone (Japan),<br />
Michelin (France), Goodyear (US), Pirelli (Italy), Sumitomo (Japan), Yokohama (Japan),<br />
Hankook Tire (South Korea), Nokian Tyres (Finland), and CEAT (India)<br />
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