United States OTR Tire Market to Grow at 8.81% CAGR in Volume Terms by 2026 – TechSci Research

 Continuous need of mechanisation in construction and agricultural sectors is expanding the OTR vehicle fleet which is aiding the growth of the United States OTR tire market. 

According to TechSci Research report United States OTR Tire Market, By Application Type (Construction, Agriculture, Mining, Material Handling, Ports, Forestry and Others), By Demand Category (Replacement, OEM), By Rim Size (Upto 25’’, Above 25”), By Tire Construction (Bias, Radial), By Company and By Region (Midwest, South, West, and Northeast), Forecast & Opportunities, 2026”, United States OTR Tire market is expected to grow at CAGR of 8.81% in volume terms to reach 6,922.57 thousand units by 2026. Growth in the United States OTR Tire market is driven by increasing number of construction activities in the country. According to The Associated General Contractors of America, construction is a major contributor to the United States economy. The industry has more than 680 thousand employers with over 7 million employees and creates nearly USD1.3 trillion worth of structures each year. Average United States construction spending totaled USD1.04 trillion between 2009 and 2019. United States private sector construction spending totaled USD977 billion in 2019. According to the United States Census Bureau, public sector construction spending totaled USD329 billion in 2019. With such intense capital, need for mechanization is increasing in the construction sector and with this expanding OTR vehicle fleet, demand for OTR tires both for OEM as well as replacement demand is increasing robustly. Inflow of such major investments in this sector is increasing the demand of construction vehicle which is going to aid the growth of overall OTR tires in United States.

Browse 27 market data figures and 7 tables spread through 70 Pages and an in-depth TOC on “United States OTR Tire Market."

https://www.techsciresearch.com/report/united-states-otr-tire-market/7631.html

United States OTR tire market can be segmented based on Application Type, Demand Category, Rim Size, Tire Construction, Company and Region. In terms of OTR tire application type, agriculture and construction application category is collectively holding more than half of the country’s OTR tire sales. Growing agriculture and construction activities are inducing the growth of OTR tires in United States.

In terms of demand category, OTR tires in United States are classified based on replacement and original equipment manufacturers category. Owing to the large fleet size of the country, demand from replacement category is dominating the market. With increasing OTR vehicle sales as well as increased number of construction, agricultural and mining activities the growth of OTR tires are expected to be driven robustly through the next five years. The market share of replacement category is anticipated to grow at a faster rate in the forecast years owing to the expanding fleet of OTR vehicles in the country.

In terms of Rim Size, United States OTR Tire market is distinguished based on the size of the rim up to 25” and above 25”. Since, smaller OTR machineries are sold more than the larger ones, OTR tires with rim size up to 25” are leading the market by fair margin. For the forecast years, sales of OTR tire with rim size up to 25” are expected to increase even further at an increasing rate.

Based on tire construction, United States OTR market is distinguished between bias tires and radial tires. The market share of Bias category is significantly higher than that of radial category of the segment in United States. However, radial OTR tire penetration in the market is gaining momentum across the country, due to features such as better control, high durability and better fuel efficiency as well as enhanced load carrying capacity. Owing to this, the demand for radial OTR tires is expected to evolve over the next five years.

Additionally, United States OTR Tire Market is segmented among the states falling in Midwest, South, West, and Northeast regions of the United States. Owing to the large tractor and other OTR vehicle fleet of the states constituted by Midwest region, the majority of OTR tire demand is coming from this region. Although the sales from South and West region are gaining shares and the regions are expected to perform better in the forecast years as well.

Some of the major players operating in the United States OTR Tire market are The Goodyear Tire & Rubber Company, Bridgestone Americas, Inc., BKT USA Inc., Yokohama Tire Corporation, Michelin North America, Inc., Trelleborg AB, CEAT Ltd., Magna Tyres Group, etc. With expansion of dealer & distributor network, increasing marketing schemes, and other promotional activities, competition in the United States OTR Tire market is expected to get increase in the forecast years.

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“In 2020, the states of the Midwest region accounted for the largest share, i.e., 39.82% in United States OTR Tire market. The region is expected to maintain its dominance over the next five years as well, but states in South and West regions are giving neck to neck competition. Increasing Agriculture and Construction activities are boosting the demand for OTR Tires in the country.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“United States OTR Tire Market, By Application Type (Construction, Agriculture, Mining, Material Handling, Ports, Forestry and Others), By Demand Category (Replacement, OEM), By Rim Size (Upto 25’’, Above 25”), By Tire Construction (Bias, Radial), By Company and By Region (Midwest, South, West, and Northeast), Forecast & Opportunities, 2026”, has evaluated the future growth potential of the United States OTR Tire market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States OTR tire market.

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Mexico OTR Tire Market to Grow at 8.13% CAGR in Value Terms by 2026 – TechSci Research

 Continuously evolving manufacturing industry and continuous demand for OTR vehicles to drive the Mexico OTR tire market through 2026.

According to TechSci Research report “ Mexico OTR Tire Market

, By Application Type (Agriculture, Construction, Mining, Material Handling, Ports, Forestry), By Demand Category (Replacement, OEM), By Rim Size (Upto 25’’, Above 25”) ,By Tire Construction (Radial, Bias),  By Company and By Region, Forecast & Opportunities, 2026”, Mexico OTR Tire Market is estimated to reach around USD1.60 billion by

2026. Growth in the Mexico OTR Tire Market is driven by increasing number of construction activities in the country. Along with construction activities, mining sector is also one of the major driving sectors for expanding OTR tire market in the country. The increase in income and improving living standards of the people as well as growing tourism across the country is booming the demand for construction activities in the country. According to the Oxford Business Group a total of around 41.4 million tourists visited the country in year 2018. These significant numbers of tourists reflect a total of 5.5% increase from the number of people visited the country in year 2017. The country is also witnessing the increasing demand for business travel, ecotourism, and cultural heritage visits potential of the tourism industry. The growing tourism industry in the country needs increasing number of hotels for the tourists to stay, alongside better road infrastructure and connectivity is also required for safe and comfortable travel. According to the Executive Summary report of Tourism Policy Review of Mexico, tourism industry of the country is a heavy contributor to the GDP, accounting 8.7% of the nation’s GDP. Since, tourism is contributing heavily to the economic growth of the country, construction industry has grown at an increasing pace over the past years and is anticipated to continuously grow in the forecast years as well. Heavy equipment machineries like Excavators, Backhoe loaders, Bulldozers, Wheel Tractor and Scrapers are increasingly used for construction purposes, and sales of these construction machineries have witnessed an increasing growth over the past few years. Since, the construction machineries perform off-road duty work, these machineries are equipped with OTR tires. The increasing use of construction machineries in the country is driving the Mexico OTR tire market.

Browse 40 market data Figures and 7 market data Tables spread through 89 Pages and an in-depth TOC on “Mexico OTR Tire Market."

https://www.techsciresearch.com/report/mexico-tire-market/5135.html  

Mexico OTR tire market can be segmented based on Application Type, Demand Category, Rim Size, Tire Construction, Company and Region. In terms of OTR tire application type, agriculture and construction application category is collectively holding around 50% market share in Mexico OTR tire market. Growing agriculture and construction activities are inducing the sales of OTR tires in Mexico.

In terms of demand category, OTR tires in Mexico are distinguished based on Replacement and Original Equipment Manufacture category. In terms of demand, Replacement category of the segment is generating the most demand, but its counterpart Original Equipment Manufacture category of the segment has gained more popularity over the last few years. The market share of Original Equipment Manufacture category is anticipated to grow at a faster rate in the forecast years.

In terms of Rim Size, Mexico OTR Tire market is distinguished based on the size of the rim up to 25” and above 25”. Since, smaller OTR machineries are sold more than the larger ones, OTR tires with rim size up to 25” are leading the market by fair margin. For the forecast years, sales of OTR tire with rim size up to 25” are expected to increase even further at an increasing rate.

Based on tire construction, Mexico OTR market is distinguished between Bias Tires and Radial Tires. The market share of Bias category is significantly higher than that of Radial category of the segment in Mexico. However, Radial OTR tire penetration in the market is gaining momentum across the country, due to features such as better control, high durability and better fuel efficiency as well as enhanced load carrying capacity. Owing to this, the demand for radial OTR tires is expected to evolve over the next five years.

Addition to that, by region Mexico OTR Tire Market is segmented Ciudad de México, Nuevo León, Jalisco, Tamaulipas, Rest of Mexico. Majority of OTR tire demands come from Ciudad de México, hence organizing the region as leader of the mainstream market. OTR tire sales are briskly growing in Nuevo León region, witnessing an increasing growth rates in the past few years, the same is expected in the forecasting period.

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Some of the major players operating in Mexico OTR tire market are Pirelli Neumáticos de México, S.A. de C.V., Michelin Industrias, S.A. de C.V., Goodyear Commercial Services, S. de RL de CV, Bridgestone de México, S.A. de C.V., Continental Tire de México S.A. de C.V., Hankook Tire de Mexico, S.A de C.V., Cooper Tire & Rubber Co. de Mexico SA de CV, Yokohama Tire Mexico (YTMX). Companies like Westlake México (Hangzhou Zhongce Rubber Company) and NT MEXICO S. DE R.L. DE C.V (México) (Toyo Tires) are also increasing their marketing activities and enriching their product portfolio in the country to increase their customer outreach.

“In 2020, Ciudad de México accounted for the largest share i.e., 20.05% in Mexico OTR Tire market. The region is expected to maintain its dominance over the next five years as well, but Nuevo León is giving neck to neck competition. Increasing Agriculture and Construction activities are boosting the demand for OTR Tires in the country.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based Indian management consulting firm.

“Mexico OTR Tire Market, By Application Type (Agriculture, Construction, Mining, Material Handling, Ports, Forestry), By Demand Category (Replacement, OEM), By Rim Size (Upto 25’’, Above 25”), By Tire Construction (Radial, Bias),  By Company and By Region, Forecast & Opportunities, 2026”, has evaluated the future growth potential of in Mexico OTR Tire market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Mexico OTR tire market.

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Global OTR Tire Market to reach USD 31 Billion by 2025: TechSci Research

 Rise in developmental activities and introduction of advanced OTR vehicles for farming, and construction activities to drive global OTR Tire market through 2025

According to TechSci Research report, “Global OTR Tire Market By Vehicle Type, By Demand Category, By Region, Competition, Forecast & Opportunities, 2015-2025”, the global OTR tire market is projected to surpass USD 31 billion by 2025, owing to increasing usage of farm equipment and heavy machinery in industrial and mining activities, major technological innovations in OTR tires, and modernization. Overcoming the problems associated with manual labor and enhancing productivity, various advanced OTR tires are being introduced for farming activities, which is contributing to the increase the growth of global OTR tire market at a steady rate during the forecast period.

Browse 40 market data Tables and 174 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 2018, 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 governments of various countries, demand for OTR vehicles used in the construction projects is also increasing and consequently fueling the demand for their tires. Garnering support from increasing surface and underground mining and increasing quarrying activities across the world, the demand for dump truck, excavators, loaders, etc. is rising considerably, which in turn is propelling the market for OTR tires, globally.

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 in 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. According to the Asian Development Bank report, Asia will need to invest USD 26 trillion between 2016 to 2030 on developing sectors such as power, transport, telecommunication, water supply, etc., to maintain its targeted growth rates.

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“Expanding construction, mining and agriculture sectors coupled with expansion in agriculture vehicle fleet will continue to propel demand for OTR tires, globally, in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 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. Moreover, continuous developments in tire technology are also projected to increase demand for radial OTR tires across the world. Chinese companies such as Zhongce Rubber, Triangle, etc., are also expanding their product offering and distribution network to gain market share in the global OTR tire market.

“Global OTR Tire Market By Vehicle Type, By Demand Category, By Region, Competition, Forecast & Opportunities, 2015-2025” 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.

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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.

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APAC to Drive OTR Tire Market to $ 31 Billion by 2025: TechSci Research

Increasing use of farm equipment in agriculture and heavy machineries in mining and industrial sectors coupled with growing infrastructure and construction sectors to drive global OTR tire market through 2025

According to TechSci Research report, “Global OTR Tire Market By Vehicle Type, By Demand Category, By Region, Competition, Forecast & Opportunities, 2015-2025”, the global OTR tire market is projected to surpass $ 31 billion by 2025, 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. On account of modernization and increasing use of latest technology, agriculture sector in emerging economies is also witnessing growth. Various types of advanced OTR vehicles are being introduced for farming, which help in overcoming the problems associated with manual labor and aid in achieving higher productivity.

Browse 40 market data Tables and 174 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 2018, 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 governments of various countries, demand for OTR vehicles used in the construction projects is also increasing and consequently fueling the demand for their tires. Garnering support from increasing surface and underground mining and increasing quarrying activities across the world, the demand for dump truck, excavators, loaders, etc. is rising considerably, which in turn is propelling the market for OTR tires, globally.

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 in 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. According to the Asian Development Bank report, Asia will need to invest USD26 trillion between 2016 to 2030 on developing sectors such as power, transport, telecommunication, water supply, etc., to maintain its targeted growth rates.

Download Sample Report  @ https://www.techsciresearch.com/sample-report.aspx?cid=3725

 Customers can also request for 10% free customization on this report.

“Expanding construction, mining and agriculture sectors coupled with expansion in agriculture vehicle fleet will continue to propel demand for OTR tires, globally, in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 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. Moreover, continuous developments in tire technology are also projected to increase demand for radial OTR tires across the world. Chinese companies such as Zhongce Rubber, Triangle, etc., are also expanding their product offering and distribution network to gain market share in the global OTR tire market.

“Global OTR Tire Market By Vehicle Type, By Demand Category, By Region, Competition, Forecast & Opportunities, 2015-2025” 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

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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

Email: sales@techsciresearch.com