According to the latest report by IMARC Group, titled “North America OTR tire Market Growth, Size, Share, Industry Trends, Opportunity and Forecast 2022-2027“, the North America OTR tire market reached a volume of 405.0 thousand units in 2021. Looking forward, IMARC Group expects the market to reach 580.7 thousand units by 2027, exhibiting at a CAGR of 6.5% during 2022-2027.
Off-the-road (OTR) tires are deep treaded tires that provide high traction over unlevelled surfaces, including rock, mud, loose dirt, or gravel. These tires are employed in various off-the-road vehicles, including cranes, wheel loaders, telescopic handlers, tractors, all-terrain vehicles (ATVs), military trucks, and specialized purpose vehicles. OTR tires provide better durability, improved heat and rolling resistance, enhanced vehicular performance, easy mobility, optimum stability, and reduced contact patch area. As a result, they are widely adopted across construction, mining, recreation, and agriculture sectors in the North American region.
|Base Year: 2021|
|Forecast Year: 2022-2027|
North America OTR Tire Market Trends and Drivers:
The market is primarily driven by the expanding construction sector and the increasing development of numerous infrastructural projects, including housing facilities, industrial complexes, roads, and railway networks. In addition, the growing deployment of forklifts, cranes, and bulldozers for enhancing the safety and security of workers during heavy-duty construction activities represents another major growth-inducing factor.
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Besides this, the expanding mining industry and the extensive utilization of fully mechanized equipment is escalating the demand for OTR tires in mining and quarrying vehicles. Moreover, the market is also propelled by the growing adoption of integrated farm machinery for numerous labor-intensive tasks in the agriculture sector.
Furthermore, key players are introducing advanced product variants that are integrated with sensor-based technologies to monitor tire pressure and minimize the risk of potential hazards, which is expected to fuel the market growth in North America.
Note: 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.
North America 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.
Bridgestone Corporation, CMA, LLC, Continental AG, Cooper Tire & Rubber Company, Titan International, Inc., Michelin, Nokian Tyres plc, The Yokohama Rubber Co, Ltd., Toyo Tire Corporation, Trelleborg AB, Triangle Tyre Co., Ltd, and Pirelli & C. S.p.A.
The report has segmented the market on the basis of region, demand, tire size, tire type, vehicle type and distribution channel.
Breakup by Demand:
- Original Equipment Market
- Replacement 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 Tire Type:
- Radial Tire
- Bias Tire
Breakup by Vehicle Type:
- Mining Vehicles
- Construction & Industrial Vehicles
- Agricultural Vehicles
Breakup by Distribution Channel:
Breakup by Country:
- United States
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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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