Asia Pacific OTR Tire Market Overview:
According to the latest report by IMARC Group, titled “Asia Pacific OTR Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the Asia Pacific OTR tire market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The Asia Pacific OTR tire market reached a volume of 42.99 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 58.72 Million Units by 2027, exhibiting at a CAGR of 5.43% during 2022-2027.
Off-the-road (OTR) tires refer to deep-treaded tires that are designed to provide high traction on unlevelled surfaces, such as loose dirt, mud, rock, and gravel. They also provide heat and rolling resistance, extended durability, enhanced vehicular performance, optimum stability, easy mobility, and reduced contact patch area. Owing to these benefits, OTR tires are extensively utilized in heavy-duty vehicles such as cranes, wheel loaders, telescopic handlers, tractors, all-terrain vehicles (ATVs), and military trucks for off-road applications in the mining, agriculture logistics, and housing industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Asia Pacific OTR Tire Market Trends and Drivers:
The market is primarily driven by the rising number of large-scale projects, including the development of roads, highways, and commercial complexes as OTR tires are extensively utilized in loaders, excavators, bulldozers, and trenchers for construction activities.
Besides this, the increasing mining activities due to the presence of metal, mineral, and coal mines across several countries, such as China, Australia, India, and Indonesia, are escalating the demand for OTR tires in mining and quarrying vehicles. Moreover, the market is further propelled by the growing popularity of dirt bikes and quads for recreational purposes.
Furthermore, the rising integration of sensor-based technologies with OTR tires to minimize the risk of potential hazards by providing real-time data analysis is creating a positive market outlook across the region.
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Asia Pacific OTR Tire Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Apollo Tyres Ltd
- Balkrishna Industries Limited (BKT)
- Bridgestone Corporation
- CEAT Limited
- Cheng Shin Rubber Industry Co., Ltd
- Gajah Tunggal Tbk
- Guizhou Tyre Co.,Ltd.
- JK Tyre and Industries Ltd
- MRF Limited
- Sumitomo Rubber Industries, Ltd.
- The Goodyear Tire & Rubber Company
- The Yokohama Rubber Co., Ltd.
- Toyo Tire Corporation
- Triangle Tyre Co. Ltd.
The report has segmented the market on the basis of region, demand, tire type, tire size and vehicle type.
Breakup by Demand:
Breakup by Tire Type:
- Radial Tire
- Bias Tire
Market Breakup by Tire Size:
- Top Tire Sizes in 24’’-30’’
- Top Tire Sizes in 31’’-35’’
- Top Tire Sizes in 36’’-39’’
- Top Tire Sizes in 40’’-50’’
- Top Tire Sizes in 51’’-55’’
- Top Tire Sizes in 56’’-63’’
Breakup by Vehicle Type:
- Agriculture Vehicles
- Construction and Industrial Vehicles
- Mining Vehicles
Breakup by Country:
- New Zealand
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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