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
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.
Customers
can also request for 10% free customization on this report.
“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.
Browse Related Reports
- Global Tire Market, 2013 – 2023 - https://www.techsciresearch.com/report/global-tire-market/3057.html
- Global Ultra High Performance (UHP) Tire Market, 2013 – 2023 - https://www.techsciresearch.com/report/ultra-high-performance-uhp-tire-market/2086.html
- Global Agriculture Tire Market, 2012-2022 - https://www.techsciresearch.com/report/global-agriculture-tire-market-by-vehicle-type-tractor-tires-tractor-trailer-others-by-demand-category-oem-vs-replacement-forecast-opportunities/1044.html
About TechSci Research
TechSci Research is a leading global market research
firm publishing premium market research reports. Serving 700 global clients
with more than 600 premium market research studies, TechSci Research is serving
clients across 11 different industrial verticals. TechSci Research specializes
in research based consulting assignments in high growth and emerging markets,
leading technologies and niche applications. Our workforce of more than 100
fulltime Analysts and Consultants employing innovative research solutions and
tracking global and country specific high growth markets helps TechSci clients
to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
No comments:
Post a Comment