Report Description
A recent market
intelligence report that is published by Data Insights Partner on the global OTR
Tires Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international OTR Tires Market. The research
also emphasizes on the impact of restraints, drivers, and macro indicators on
the regional and global OTR Tires Market over the short as well as long period
of time. A detailed presentation of forecast, trends, and dollar values of global
OTR Tires Market is offered. In accordance with the report, the global OTR
Tires Market is projected to expand at a CAGR of 1.3% over the period of
forecast.
Market Insight, Drivers, Restraints&
Opportunity of the Market:
OTR Tires or
Off-The-Road Tires, are typically radials that have great capacity to take
massive amount of weight and use deep treads thereby enabling more traction on
unpaved surfaces like sand, mud, loose dirt etc. OTR Tires are used in various
industries like agriculture, mining, construction and other sites where there
are no roads.
With the
introduction of radial tires and non-pneumatic tires, the old manufacturing
technologies like bias and cross-ply are getting replaced. Radial tires are
air-less tires and are gaining huge demand due to its longer life cycle and
superior quality. With an increase in construction, especially in emerging
economies, the demand for construction and material handling equipment is
growing significantly, thereby impelling the demand for global OTR Tires market
in the forecast period. Owing to increased infrastructural development,
government subsidies and rapid mechanization agricultural and construction
industries are also on a rise, thereby increasing sales and fleet of OTR
vehicles globally.
The growth of
mining industry is anticipated to decline significantly in the upcoming years,
due to regulatory and environment pressure to shift towards renewable energy
generation and dependence on alternatives energies. This factor will adversely
affect the growth of global OTR tires in the forecast period. Another factor
that may restrain the growth of this market is the availability of cheap tires
alternative in unorganized market, fluctuating prices of raw materials and
rising gap between OTR Tires demand and supply. The major challenge for
manufacturers of OTR Tires is the high cost of research and development that
may hinder growth of the OTR Tires market globally in the forecast period.
Asia Pacific
dominates the global OTR Tires market, due to huge government expenditure over
mining sector and urbanization in the forecast period. Many manufacturers are
expanding their product offerings by deploying new techniques, designing new
vehicles and launching new OTR tires with improved tread designs.
Covid-19 has
largely impacted the production and distribution across the OTR Tire industry.
Due to various measures taken by the government health advisory, many tire
manufacturing companies have shut down operations completely or partially with
no plans in sight to reopen as on date. Due to the rapidly deteriorating market
conditions caused by COVID 19 pandemic, many employees have taken voluntary
reduction in their salary in a show of solidarity. However, many companies have
their customer service and sales support department operational under strict
precautions to ensure safety of employees. Companies are now utilizing their
time by collecting ideas to be more competitive once things get back to normal.
The Michelin Group said in a statement released on March 19th, that
the truck tire market is down by 16% according to its data of February 2020.
Segment Covered:
This market
intelligence report on the global OTR Tires Market encompasses market segments based
on product type, construction type, vehicle type, process, size, rim size, end
users, application and country/regions.
In terms of type, the global OTR Tires Market is segregated into :
§ Radial OTR Tires
§ Bias (Crossply)
§ Others
In terms of construction type, the global OTR
Tires Market is segregated
into :
§ Belted Bias Tire
§ Bias Tire
§ Radial
§ Non-Pneumatic Tires
§ Solid
In terms of Vehicle Type, the global OTR
Tires Market is segregated
into :
§ Construction & Mining Equipment
ü Articulated Dump Trucks
ü Rigid Dump Trucks
ü Backoe Loaders
ü Asphalt Finisher
ü Motor Grader
ü Motor Scraper
ü RTLT-Masted
ü RTLT – Telescopic
ü Skid – Steer Loaders
ü Wheeled Excavators
ü Wheeled Loaders < 80 HP
ü Wheeled Loaders > 80 HP
ü Crawler Dozer
ü Crawler Excavators
ü Mini Excavators
§ Agriculture Tractors
ü <30 HP Tractors
ü 31 – 100 HP Tractors
ü 100 – 200 HR Tractors
ü > 200 HP Tractors
§ By Industrial Equipment
ü Forklift & Container Handling
ü Material Handling Equipment
ü Aisle Trucks
ü Tow Tractors
§ Others
ü Aircraft Tow Vehicle
ü Earthmovers
ü Dumpers
ü Straddle Carries
ü Cranes
§ Gantry Crane
§ Mobile Crane Scrapers
In terms of Process, the global OTR Tires Market is segregated into :
§ Mold Cure
§ Pre-Cure
In terms of size, the global OTR Tires Market is segregated into :
§ Above 60 Inch
§ 50.1 inch to 60 inch
§ 40.1 inch to 50 inch
§ 25.1 inch to 40 inch
§ 20.1 inch to 25 inch
§ 15 inch to 20 inch
In terms of Rim Size, the global OTR Tires Market is segregated into :
§ 50.1 inch – 63.0 inch
§ 25.1 inch – 49.9 inch
§ Less than 24.9 inch
In terms of End Users, the global OTR Tires Market is segregated into :
§ Industrial
§ Construction & Mining
§ Agricultural
§ Ports Tire Sizes
§ Defense
§ Forestry & Light Duty
§ Others
By application, the global OTR Tires Market is also classified into :
§ Loader
§ Grader
§ Telephonic Handlers
§ Articulated Truck
§ Others
By country/region, the global OTR Tires Market has been divided into :
§ North America (the U.S., Canada),
§ Latin America (Brazil, Mexico, Argentina and other
countries),
§ Europe (Germany, France, the U.K., Spain, Italy, Russia,
and other countries),
§ Asia Pacific (India, Japan, China, Australia and New Zealand
and other countries),
§ Middle East and Africa (GCC, South Africa, Israel and
Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as
§ Michelin
§ Bridgestone Corporation
§ The Good Year Tire Company
§ Titan Tire Corporation
§ Tokohama Rubber Company
§ Bal Krishna Industries Limited
§ Continental AG
§ Fujian Haian Rubber Limited Company
§ Alliance Tire Group Ltd
§ JK Tyre
§ Pirelli & C. s.p.a
§ Maxam Tire
§ Hankook Tire & Technology
§ Nokian Tyres Oyj
§ Guizhou Tire
§ Zhongce Rubber Co. Ltd
§ Long March Tyres
§ Apollo Tyres Ltd.
§ Double Coin Holdings
§ Haoyu Tyre Group
§ Dunlop Tyres
§ Prometeon Type Group S.R.L
§ Triangle Group
§ Prinx Chengshan Tire
§ TUTRIC Tyres
§ Doublestar Tyres
§ Hawk International Rubber and many more
Others players have
been profiled into detail so as to offer a glimpse of the market leaders.
Moreover, parameters such as OTR Tires related investment & spending and
developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the OTR Tires Market, size of the market (US$ Mn), and Compound Annual Growth
Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account
2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, launch of new products, competitive market strategies of
leading market players, emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world OTR Tires Market is done by taking into account various parameters such as
company strategies, distribution strategies, product portfolio, financial
performance, key developments, geographical presence, and company overview
Ø
Leading
market players covered this report comprise names such as Michelin, JK Tyres,
Bridgestone, Hawk International Rubber, Pirelli, Continental, Hankook Tires,and many more.
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of products, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for OTR Tires Market
caters to the needs of various stakeholders
pertaining to this industry, namely suppliers, manufacturers, investors, and
distributors for OTR Tires Market. The research also caters to the rising needs of consulting
and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the
investment opportunities in the OTR Tires Market
v
Identification
of key factors driving investment opportunities in the OTR Tires Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to your
competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants