#Off the Road (OTR) Tires Market – Industry Trends and Forecast

[sports9885]

The off the road (OTR) tires market size is valued at USD 9.06 billion by 2028 and is expected to grow at a compound annual growth rate of 5.50% over the forecast period of 2021 to 2028. Data Bridge Market Research report on off the road (OTR) tires market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

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Europe Off-the-Road Tire Market Trends, Analysis, Report 2022-2029

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Europe Off-the-Road Tire Market  size to grow at a steady CAGR of 5.22% during the forecast period between 2023 and 2029. Major growth drivers for the Europe off-the-road tire market include an increasing construction activity, rising agricultural mechanization, and the growing mining industry. The continuous upgrading of commercial structures like bridges, dams, highways, and power supply grids across various geographical locations is also contributing to the market's growth. The expanding mining sector is another significant factor, leading to a rising demand for large haul trucks in mining and quarrying applications. The European market is witnessing a surge in the adoption of radial OTR tires, which offer numerous advantages such as improved mileage, reduced fuel consumption, and enhanced road grip. The growth of the agriculture sector and the increasing adoption of farm mechanization trends are further fueling the market's expansion. Also, the adoption of government regulations aimed at ensuring the safety of workers in industries involving heavy-duty operations is stimulating the need for machinery like forklifts, cranes, backhoes, and bulldozers. Hence, such aspects are expected to contribute to the expansion of the market in Europe. However, fluctuating raw material prices and shift of energy sectors towards renewable energy are anticipated to hinder the overall market growth during the period in analysis.

Europe Off-the-Road Tire Market– Overview

The Europe Off-the-Road (OTR) tire market refers to the segment of the tire industry that focuses on the manufacturing, distribution, and sale of tires specifically designed for vehicles operating in off-road conditions. These conditions typically include rugged terrains, uneven surfaces, and challenging environments where standard passenger car tires would not be suitable. OTR tires are designed to provide enhanced traction, durability, and stability for various off-road applications such as construction and mining equipment, agricultural machinery, industrial handling equipment, and specialized vehicles used in sectors like forestry and ports. The Europe OTR tire market encompasses the demand, supply, and trade of these specialized tires within the European region.

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Impact of COVID-19 on Europe Off-the-Road Tire Market

COVID-19 pandemic adversely impacted Europe Off-the-Road (OTR) tire market. The market experienced disruptions in the supply chain as global restrictions on transportation and factory closures caused delays in the production and distribution of OTR tires. Reduced economic activity and uncertainty resulted in decreased demand from industries heavily reliant on off-road vehicles, such as construction, mining, and agriculture. However, there were shifts in usage patterns, with increased demand in the agricultural sector due to its essential nature. As the situation improved and restrictions were lifted, the market began to recover, aided by government stimulus measures and infrastructure projects. The pandemic also emphasized the importance of safety and efficiency, leading to a greater focus on technological advancements in OTR tires.

Europe Off-the-Road Tire Market – By Application

Based on application, the Europe off-the-road tire market is divided into Construction and Mining, Agriculture, and Industrial segments. The construction and mining segment holds the highest share in the Europe Off-the-Road (OTR) tire market. The construction and mining industries require heavy-duty and durable tires that can withstand challenging terrains and heavy loads. OTR tires specifically designed for construction and mining applications offer features such as enhanced traction, cut and chip resistance, and increased load-carrying capacity, making them suitable for these demanding environments. Also, the construction and mining sectors are significant contributors to the European economy, driving infrastructure development and resource extraction. These industries rely heavily on off-road vehicles and equipment, such as loaders, dump trucks, excavators, and bulldozers, which in turn require OTR tires. The ongoing construction projects, mining operations, and infrastructure developments in Europe contribute to the consistent demand for OTR tires in the construction and mining segment.

Competitive Landscape

Major players operating in the Europe Off-the-Road Tire Market include Michelin, Continental, Pirelli, Nokian Tyres, Trelleborg, Vredestein, Yokohama, Magna Tyres Group, Petlas Tire Corporation, and Alliance Tire Group. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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South Africa Off the Road Tire Market Industry Trends, Growth, Forecast 2022-2028

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, forecasts South Africa Off the Road (OTR) Tire Market size to grow at a CAGR of 6.5% during the forecast period between 2022 and 2028. The developing automobile industry, an increasing need for tires from the country’s mining industry, and rapid industrialization and urbanization, rising affluence, and the penetration of affordable Chinese tires in the country are major growth factors for South Africa OTR tire market.

South Africa Tire Market – Trends and Forecast

The growth of South Africa OTR tire market is being driven by the country's expanding automotive industry. The automobile industry is one of the most important industries in the South African economy, generating roughly 4.9% of the country's GDP, according to Naamsa, South Africa's automotive business council. Vehicle production accounts for 2.8%, while automobile retailing accounts for 2.1%. South African car and automotive component exports totaled USD 11.02 billion in 2011, accounting for 13.9% of overall exports.

Automobile sales in South Africa are increasing significantly. According to Naamsa, domestic new vehicle sales increased by 6.6%, moving to 41,588 units in November 2021, up from 39,015 vehicles sold in November 2020. Furthermore, overall automotive exports increased by 8.09% from the same time in 2020, reaching 273,838 units in November 2021. The country's rising automotive industry, as well as sales and exports of automobiles, has resulted in increased demand for tires, which is propelling the South Africa OTR tire market forward.

As the country's mining industry expands, so does the demand for new and efficient equipment. The mining industry's demand for OTR tires is also steadily increasing. For example, in 2019, one of the world's largest mining contractors operating in one of South Africa's largest coal mines chose Magna Tyres' 40.00R57 Magna MA04+C Giant tires for Cat 793D rigid dump trucks. Other factors driving South Africa OTR tire market growth include the demand for specially designed tires that can withstand harsh conditions in mines by reducing heat buildup inside the tire, lowering fuel consumption, increasing efficiency, optimizing operator comfort, and extending service life.

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Challenge: Increasing prices of raw materials

The availability and costs of various raw materials, including rubber and crude oil, to produce OTR tires are highly dependent on various external factors, such as environment vagaries and geopolitical tensions. Consequently, there is a high volatility in the prices of raw materials. This, in turn, would affect the operating margin of OTR tire manufacturers. Hence, increasing volatility in raw materials could affect the growth of South Africa OTR tire market.

Impact of COVID-19 on South Africa Off the Road Tire Market

COVID-19 pandemic had affected South Africa OTR tire market in a short term, as new vehicle production and sales decreased in 2020. Furthermore, because of the travel and business restrictions, people restricted their driving, delaying maintenance, and tire replacement appointments. Tire importers experienced problems importing tires due to low demand, issues obtaining raw materials, cash constraints, and a manpower shortage. Furthermore, tire producers were forced to close factories or operate at reduced capacity. Despite the market's reopening by the end of 2020 and vaccination campaigns pointing to a quick recovery, the appearance of COVID variations, hampered the recovery. With relaxations in COVID-related restrictions and the resumption of various industrial operations including in the mining sector, the demand for OTR tires is expected to reach the pre-COVID level. Hence, South Africa OTR market is expected to grow during the post-COVID period.

Competitive Landscape

Prominent players in South Africa OTR tire market include Bridgestone Corporation, Continental AG, The Good Year Tire & Rubber Company, Apollo Tyres Ltd., Pirelli & C S.p.A., Hankook Tire & Technology Co. Ltd., Auto & Truck Tyres Ltd., Bandag Southern Africa (Pty) Ltd., Dunlop Tyres SA, Continental Aktiengesellschaft, Compagnie Générale des Établissements Michelin, The Yokohama Rubber Co., Ltd., Sumitomo Rubber Industries, Ltd., Toyo Tire & Rubber Company, Hangzhou Zhongce Rubber Co. Ltd., Triangle Tyre Co. Ltd, and CEAT Limited. These companies follow various strategies including mergers and acquisitions, partnerships, licensing agreements, joint ventures, and collaborations to expand their reach in the market.

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[omkarame]

Off road tyres Market Analysis, Scope, Technology till 2028

Based on past and recent market performance, the Off road tyres market is estimated to reach USD 12.11 billion in size by 2028 at a CAGR of 6.3%.

Overview of the Off road tyres Market

This report provides an evaluation of the most recent developments in the global Off road tyres market. This report focuses on providing a broad perspective to the end-client and assisting them in developing market approaches and plans. The Off road tyres market report investigates and provides a forecast for the period 2019 to 2028.

The research provides an outline and foundation for the Off road tyres market, including section, arrangement, definition, item data, and the most recent turns of events and occasions associated with the market that might influence market activity.

The report addresses issues such as item order, item cost, and item developments. The information is centered on the global market's major drivers, limiting factors, obstacles, and opportunities.

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Key Players Are - Continental AG, Bridgestone corporation, Michelin, Goodyear, Pirelli, Sumitomo, Yokohama, Hankook TIRE, Nokian and Ceat.

This report includes study Following Regions

North America (Country Analysis: the USA, Canada) 

Europe (Country Analysis: Germany, France, Russia, Denmark, and Rest of Europe)

Asia-Pacific (Country Analysis: China, Japan, and Rest of Asia-Pacific)

Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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The Off road tyres Market is Segmented As Follows

Off Road Tyres Market by Material, 2019-2028, (In USD Million)

Synthetic Rubber

Natural Rubber

Fabrics & Wire

Carbon Black

Off Road Tyres Market By Vehicle, 2019-2028, (In USD Million)

4WD HDT

SUV

UTV

Dirt Bikes & Quad

OTR

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[techsciresearch]

Off-the-Road (OTR) Tire Market Entering a Transformative Era | TechSci Research

Tire manufacturing technology has progressed in parallel with growing requirements of automobile manufacturers and ever-growing customer expectations to accommodate new applications, safety, health, and environmental issues. Evolution of new tire construction technologies, emergence of novel materials like nano composites, plasma surface modified carbon black, and new computer simulation techniques have led to the development of new and improved tires that provide enhanced performance and efficiency to modern vehicles. Rapid surge in industrialization, growing mechanization, infrastructural developments in emerging markets, and agricultural activities are increasing demand for tractors, construction, and mining equipment, which in turn, are contributing to OTR tire market growth. Manufacturers are leveraging new compounds, materials, and value-added technologies such as embedded sensors to make OTR tires more durable. With growing environmental consciousness and regulatory policies, new opportunities are opening in the areas of sustainability and standardization.

Intelligent Construction Tires

The new construction tire line’s sensor technology introduced by Continental enable end users to track metrics such as tire performance, temperature and inflation pressure, and longevity. Monitoring the data would lower operating costs and maintenance costs associated with tire inspections, reduce downtime, improve safety, and maximize fuel efficiency. Besides, Continental offers a service called ContiLogger that uses a telematic device with integrated sensors to measure speed, distance, lateral force, road grade, tire pressure, and issues warning for critical conditions such as long idling time, low inflation pressure, low-efficiency cycle pattens, etc.

Green OTR Tires

Recycling OTR tires is a time-consuming, energy-intensive, and costly process that requires up to six stages before the actual process starts. However, innovative OTR tire recycling technologies are reducing the recycling steps to make the recycling process more eco-friendly. Tytec Recycling in collaboration with Green Distillation Technologies Corporation designed the first green recycling solution for off road tires. The recycling technology developed in Australia reclaims the OTR tires into high-quality steel, diesel oil, and carbon in just one step. No cutting, shredding, or grinding of tires is required prior to recycling of OTR tires with the new technology, which results in low emissions and safer work conditions. In a way, the distillation reactors of Tytec Recycling resolve a major environmental problem for mining and agricultural sectors across the globe.

Airless Tire and Wheel System

In 2021, NDX introduced airless tire and wheel system for utility vehicles and turf equipment to solve the recurring problem of flat tires on rough terrains. NDX combines multi-layered construction, engineered structural supports, tread belt, premium rubber compounds, and a deflection management system to optimize energy absorption and load distribution. Less jarring and bouncing would help reduce operator fatigue, resulting in a ride equal to or better than pneumatic tires. Airless tires minimize fuel consumption by up to 10% when compared to other tire options.

According to TechSci Research report on “OTR Tire Market - Global Industry Size, Share Trends Competition, Opportunities and Forecast 2017-2027 Segmented By Demand Category (OEM & Replacement), By Vehicle Type (Mining, Construction & Industrial Equipment, Agriculture Vehicles, Others), By Tire Construction Type (Radial & Bias), and By Region”, the global OTR tire market is expected to reach register a CAGR of 6.6% during the forecast period. The market growth can be attributed to the rising sales of tractors and harvesters and growing investments in the mining industry. Besides, introduction of various plans and programs for the development of mining activities by government of various countries are expected to boost the global OTR tire market in the coming years.

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[research-on-future]

Global and United States Off the Road Tires (OTR) Market- Industry Research Report by DeepResearchReport

The Global and United States Off the Road Tires (OTR) Market Research Report gives CAGR value, Industry Chains, Upstream, Geography, End-user, Application, Competitor analysis, SWOT Analysis, Sales, Revenue, Price, Gross Margin, Market Share, Import-Export, Trends and Forecast. The Report Also Gives Insight On Entry and Exit Barriers of the Industry.

 The study report offers a comprehensive analysis of Global and United States Off the Road Tires (OTR) Market size across the globe as regional and country level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background and sales analysis of the payers. Along with that, the report explains the major challenges and risks to face in the forecast period. Global and United States Off the Road Tires (OTR) Market is segmented by Type, and by Application. Players, stakeholders, and other participants in the Global and United States Off the Road Tires (OTR) Market will be able to gain the upper hand as they use the report as a powerful resource.

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 The report takes into account the impact of the novel COVID-19 pandemic on the Global and United States Off the Road Tires (OTR) Market also provides assessment of market definition along with the identification of topmost prominent key manufactures are analyzed emphatically by competitive landscape contrast, with respect to Price, Sales, Capacity, Import, Export, Global and United States Off the Road Tires (OTR) Market Size, Consumption, Gross, Gross Margin, Revenue and Market Share.The Global and United States Off the Road Tires (OTR) Market report provides information about the industry, including valuable facts and figures. This research study explores the Market in detail such as industry chain structures, raw material suppliers, with manufacturing The Industrial IoT Sales market examines the primary segments of the scale of the market. This intelligent study provides historical data from 2015 alongside a forecast from 2021 to 2027.

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 Additionally, the research report on Global and United States Off the Road Tires (OTR) Market provides an in depth analysis about market status, market size, revenue share, industry development trends, products’ advantages and disadvantages of the enterprise, enterprise competition pattern, industrial policy and regional industrial layout characteristics. The Global and United States Off the Road Tires (OTR) Market report covers recent developments, strategic market growth analysis, area marketplace expanding, product launches, technological innovations and many more. Research report also offers an in-depth analysis about the Agreements, collaboration and partnership among different vendors across the globe. Therefore the report is beneficial for all kinds of clients.

 Impact of Covid-19 in Global and United States Off the Road Tires (OTR) Market: The utility-owned segment is mainly being driven by increasing financial incentives and regulatory supports from the governments globally. The current utility-owned Global and United States Off the Road Tires (OTR) Market are affected primarily by the COVID-19 pandemic. Most of the projects in China, the US, Germany, and South Korea are delayed, and the companies are facing short-term operational issues due to supply chain constraints and lack of site access due to the COVID-19 outbreak. Asia-Pacific is anticipated to get highly affected by the spread of the COVID-19 due to the effect of the pandemic in China, Japan, and India.

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OTR Tires Market Type, Application, Region And Forecast 2021-2027

OTR Tires Market 2021-2027

A New Market Study, Titled “OTR Tires Market Upcoming Trends, Growth Drivers and Challenges” has been featured on fusionmarketresearch.

Description

This global study of the OTR Tires market offers an overview of the existing market trends, drivers, restrictions, and metrics and also offers a viewpoint for important segments. The report also tracks product and services demand growth forecasts for the market. There is also to the study approach a detailed segmental review. A regional study of the global OTR Tires industry is also carried out in North America, Latin America, Asia-Pacific, Europe, and the Near East & Africa. The report mentions growth parameters in the regional markets along with major players dominating the regional growth.

OTR Tires (Off-the-road tires) are utilized for large-scale machinery at construction and mining and other sites with no roads. These tires mainly made with premium casings and durable compounds. Off-the-road tires offer substantial support for machinery used at various civil engineering sites, including ultra-large dump trucks, earth and gravel at mining and dam construction sites, bulldozers for earth removal and graders for road construction and snow removal.

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The report offers detailed coverage of OTR Tires industry and main market trends with impact of coronavirus. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading OTR Tires by geography. The report splits the market size, by volume and value, on the basis of application type and geography.

First, this report covers the present status and the future prospects of the global OTR Tires market for 2015-2024. And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].

At the same time, we classify OTR Tires according to the type, application by geography. More importantly, the report includes major countries market based on the type and application. Finally, the report provides detailed profile and data information analysis of leading OTR Tires company.

Key Companies Michelin Bridgestone Goodyear Titan Yokohama Tire BKT Continental Alliance Tire Group J.K. Pirelli Maxam Tire Nokian CHEMCHINA Guizhou Tire Zhongce Rubber Long March Double Coin Haoyu Rubber Triangle Prinx Chengshan TUTRIC Doublestar

Market Segment as follows: By Region Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia] Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America[United States, Canada, Mexico] Middle East & Africa[GCC, North Africa, South Africa] South America[Brazil, Argentina, Columbia, Chile, Peru]

Market by Type Radial OTR Tires Bias (Crossply) OTR Tires

Market by Application Loader Grader Telescopic Handlers Articulated Truck

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Table of Contents

Part 1 Market Overview 1.1 Market Definition 1.2 Market Development 1.2.1 Current Situation 1.2.2 Aspects of COVID-19 Impact 1.3 By Type Table Type of OTR Tires Figure Global OTR Tires Market Share by Type in 2019 1.4 By Application Table Application of OTR Tires Figure Global OTR Tires Market Share by Application in 2019 1.5 By Region Figure Global OTR Tires Market Share by Region in 2019 Figure Asia OTR Tires Market Share by Region in 2019

Part 2 Key Companies 2.1 Michelin 2.1.1 Company Profile Table Michelin Overview List 2.1.2 Products & Services Overview 2.1.3 Sales Data List Table OTR Tires Business Operation of Michelin (Sales Revenue, Sales Volume, Price, Cost, Gross Margin) 2.2 Bridgestone 2.3 Goodyear 2.4 Titan 2.5 Yokohama Tire 2.6 BKT 2.7 Continental 2.8 Alliance Tire Group 2.9 J.K. 2.10 Pirelli 2.11 Maxam Tire 2.12 Nokian 2.13 CHEMCHINA 2.14 Guizhou Tire 2.15 Zhongce Rubber 2.16 Long March 2.17 Double Coin 2.18 Haoyu Rubber 2.19 Triangle 2.20 Prinx Chengshan 2.21 TUTRIC 2.22 Doublestar

…

Part 9 Market Features 9.1 Product Features 9.2 Price Features 9.3 Channel Features 9.4 Purchasing Features Part 10 Investment Opportunity 10.1 Regional Investment Opportunity 10.2 Industry Investment Opportunity

PART 11 Coronavirus Impact 11.1 Impact on Industry Upstream 11.2 Impact on Industry Downstream 11.3 Impact on Industry Channels 11.4 Impact on Industry Competition 11.5 Impact on Industry Obtain Employment Part 12 Conclusion

Continue…

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[blogaarti]

Off-the-road Tire (OTR) Market Off-the-road Tire (OTR) Market Scope, Size, Share, Trends, Forecast By 2025

Widespread deployment of off-the-road tires in the farming, mining, and construction industries have fueled demand in the off-the-road tire market. The mining industry has been weathered the COVID-19 storm better than most, ensuring bright prospects for off-the-road tire companies. Due to the 2008 financial crisis and COVID-19, the construction industry has been especially sluggish in developed countries. It is expected that developing countries will pick up the slack soon as their need for critical urban infrastructure remains unmet. 

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Thrill-seeking Customers Indulge in Off-road Trips Benefiting Off-the-road Tire Market

There has been a significant government push towards developing public infrastructure – particularly in emerging economies. For e.g. – India’s Smart Cities Mission aims to develop 100 cities by 2023. Along with this, consumers in both developed and developing countries are partaking in off-roading adventure activity and companies have launched several special off-roaders to cater to this. The mining industry has been the cash cow for the off-the-road tire market in this era of economic upheaval. Ever-increasing industrialization along with massive demand for original and aftermarket equipment should raise the profile of the off-the-road tire market. 

Unabated Demand in the Agriculture Industry Key for the Off-the-road Tire Market

COVID-19 has turned the global supply chain model upside down. Mainstream suppliers have faced unprecedented challenges with domestic and international logistics bottlenecks. Several companies have frozen production entirely during the pandemic, squeezing operating profits and making overheads skyrocket. The agricultural industry has been able to withstand the turbulence caused by COVID-19 and has balanced the plunge in demand in the construction sector. In addition, technological advancements pertaining to real-time data collection, nanotechnology, or vehicle maneuvering should aid the global off-the-road tire market. 

Low Cost of Labor and Availability of Raw Materials Explains Dominance of APAC Region

The huge population of APAC ensures that millions of people are involved in both agriculture and manufacturing. China and India are among the world’s largest industrial and agrarian nations in terms of output and western companies have established bases there to tap their lower labor cost, favorable government policies, and raw material availability. 

Consolidation in Off-the Road Tire Market Makes it Difficult for Entrants to Compete

Off-road tire manufacturers are continually focusing on new tread designs that are durable and reliable without any drop in performance. The off-the-road tire market is heavily consolidated in the hands of global giants such as Yokohama Tire Corp., Michelin, Bridgestone Corp., and the Goodyear Tire Company. These companies are basing their new product development around factors including temperature, terrain, load execution, and operation condition. Many manufacturers have invested aggressively in capacity expansion to augment their existing production facilities. In 2019, Michelin launched a new tractor tire specifically for heavy-duty use and other companies are predicted to follow suit. Other companies profiled in this report on the off-the-road tire market are Continental AG, Sumitomo Rubber Industries, Ltd., Nokian Tyres, Trelleborg AB, China National Tire & Rubber Co., Ltd., Balkrishna Industries Limited, Apollo Tyres Ltd., Qingdao Rhino Tyre Co., Ltd., Titan International, Inc., and Double Coin Tyre Group Ltd. 

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India Off the Road (OTR) Tire Market Growth, Demand, Report 2022-2028

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that India Off the Road (OTR) Tire Market was worth 10.81 million units in the year 2021. The market is projected to grow at a CAGR of 8.5%, with sales forecast to reach 19.17 million units by the end of 2028. India Off the Road (OTR) Tire Market is booming because of the rising demand for off-road tires which offer the best traction on uneven surfaces. Also, the benefits of OTR tires are used in various pieces of machinery for use in industries like construction, mining, mechanized agriculture, and industry. The demand for radial OTR tires has been seen to rise recently over bias tires, and this trend is anticipated to continue due to its many benefits. Moreover, OTR tires continue to be most popular in Asia-Pacific, but demand is increasingly rising in Europe and North America. Furthermore, India Off the Road (OTR) Tire Market is one of the most emerging markets that grow continuously owing to the fast integration of new technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, and others. However, Both the cost of the press machines used in the production of OTR tires and the cost of the raw materials are expensive. This, in turn, may act as a huge restraining factor for market growth.

Infrastructure Improvements and Increased Construction and Mining Activity

Most emerging countries, including India, have seen significant growth in infrastructure development as a result of the impact of globalization. Expansion of transportation networks, significant investments in roads, bridges, and tunnels for easier commuting, an improved supply chain network for better trade, expansion of manufacturing industries, and building construction are all examples of infrastructure. With rising labor costs, the need for increased productivity, and the best use of resources, advanced machines are expected to drive demand for construction and mining equipment. Furthermore, private and public infrastructure investments are likely to rise, increasing demand for construction and mining equipment. This has a positive impact on OTR tire demand.

More public and private infrastructure investments are likely to increase, which is expected to increase demand for mining and construction machinery. Because of a significant technological revolution taking place in India and around the world, as well as growing global development, the OTR tire industry is poised to grow more than ever. Two of the sector's most significant advances are an innovation that provides the best support to the industrial sectors and diverse products. The demand for construction, farming, and mining equipment is expected to rise significantly over the next ten years, propelling the India OTR tire market even higher.

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Challenge: High Cost Associated with the Production of OTR Tires

Both the cost of the press machines used in the production of OTR tires and the cost of the raw materials are expensive. As a result, none of the market's players can afford to spend a lot of money on R&D. While farm equipment requires different tires for tractors, construction, and mining equipment is outfitted with heavy load bearing with a strong design and treads for better traction. The requirement for tire retreading or replacement in the case of OTR tires is determined by usage patterns and environmental factors. It is necessary to develop and test a wide range of tire sizes because the size of tires changes based on the application and terrain. R&D expenses rise as a result of customizations, a large range of products, advancing technology, and changes in demand. Because research is more expensive, producers tend to concentrate on their current product lines, which slows the expansion of the OTR tires market's more recent sectors.

Segmental Coverage

India Off the Road (OTR) Tire Market - By Sales Channel

Based on the sales channel, India Off the Road (OTR) Tire Market is segmented into OEM and Aftermarket. OEM accounts hold the largest market share. OEM OTR tires are always of the highest quality and are also suitable for all-purpose use. It's designed to be quiet, effective off the road, and long-lasting, and it performs admirably. Aftermarket OTR tires, on the other hand, also last longer and cost far less than OEM brake pads. This influences the aftermarket segment to dominate the market share in the upcoming years.

Impact of COVID-19 on India Off the Road (OTR) Tire Market

The COVID-19 epidemic has had a significant negative impact on the OTR Tire sector and supply chain in India. Sales of mining and construction equipment decreased in the first quarter of 2020. Sales, however, are anticipated to increase in the second half of 2020. The need for off-highway equipment has also significantly expanded as a result of greater mechanization. However, cross-border trade was severely impacted as a result of the COVID-19 outbreak, which resulted in supply chain disruptions in 2020. Due to increased investments in infrastructure development, increased metal demand, expansion in the mining industry, farm mechanization, and industrial automation, demand for off-highway vehicles grew in 2021 and is anticipated to climb further. The increasing demand for off-highway vehicles is anticipated to fuel

Competitive Landscape

The leading market players in India Off the Road (OTR) Tire Market are MRF Limited, Apollo Tyres, Bridgestone Company, CEAT Tyres, Goodyear Tire & Rubber Company, TVS Eurogrip, Jk Tyre & Industries, Ralco Tyres, Continental Tyres, Michelin, other prominent players. India Off the Road (OTR) Tire Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

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[trendingfact]

Off The Road (OTR) Tire Market is to be Worth US$ 29 Bn by 2026 Transparency Market Research has published a new report titled, “Off the Road (OTR) Tire Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026”. 

[researchreports-posts]

Off The Road (OTR) Tire Market is to be Worth US$ 29 Bn by 2026

Off The Road (OTR) Tire Market is to be Worth US$ 29 Bn by 2026

Transparency Market Research has published a new report titled, “Off the Road (OTR) Tire Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026”. According to the report, the global OTR tire market is anticipated to surpass US$ 29 Bn by 2026, expanding at a CAGR of more than 4% during the forecast period.

Growing urbanization and sustained investments in…

[woodsrobertlove]

OTR Tires market infrastructure growth and development 2018-2023

OTR Tires Market

Outlook of the OTR Tires Market: An in depth OTR Tires market research report has been released by Garner Insights to provide accurate information about the OTR Tires market Inspection Sales Segment. The Report scrutinizes an accurate analysis of the various segments of the Industry by providing meaningful insights. The Report also presents error-free and structured information to all the executives and leaders regarding the upcoming market movement. It also uses a number of monographs, pie-charts and other diagrams to present useful data which can give clear insights about the much trending market phenomena. All these are available for major countries -such as APAC, EMEA and United States. OTR Tires (Off-the-road tires) are utilized for large-scale machinery at construction and mining and other sites with no roads. These tires mainly made with premium casings and durable compounds. Off-the-road tires offer substantial support for machinery used at various civil engineering sites, including ultra-large dump trucks, earth and gravel at mining and dam construction sites, bulldozers for earth removal and graders for road construction and snow removal. The study covers significant data which makes the research document a handy resource for managers, analysts, industry experts and other key people get ready-to-access and self-analysed study along with graphs and tables to help understand market trends, drivers and market challenges. OTR Tires Market examination report offers the demonstrative scrutinize of the business by learning vacillated factors like OTR Tires showcase improvement, use volume, sales market analysis, promote examples and OTR Tires business esteem structures all through the guess entirety from 2018 to 2023. This market survey report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving revenue growth and profitability. Get 15 minutes of free Consultation When you request a Sample Report! Download a sample copy @ http://garnerinsights.com/Global-and-North-America-OTR-Tires-Market-Status-and-Future-Forecast-2013-2023#request-sample Scope of the report: OTR Tires market competition by top manufacturers/players, with OTR Tires sales volume, Price (USD/Unit), revenue (Million USD) and market share for each manufacturer/player; the top players including

Michelin, Bridgestone, Goodyear, Titan, Yokohama Tire, BKT, Continental, Alliance Tire Group, J.K., Pirelli, Maxam Tire, Nokian, CHEMCHINA, Guizhou Tire, Zhongce Rubber, Long March, Double Coin, Haoyu Rubber, Triangle, Prinx Chengshan, TUTRIC, Doublestar

Main types and Applications of products On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into,

Radial OTR Tires, Bias (Crossply) OTR Tires

On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate for each application, including

Loader, Grader, Telescopic Handlers, Articulated Truck

Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of OTR Tires. Check Discount @ http://garnerinsights.com/Global-and-North-America-OTR-Tires-Market-Status-and-Future-Forecast-2013-2023#discount Table of Contents: Chapter 1, to describe Definition, Specifications and Classification of OTR Tires, Applications of OTR Tires, Market Segment by Regions; Chapter 2, to analyze the Manufacturing Cost Structure, Raw Material and Suppliers, Manufacturing Process, Industry Chain Structure; Chapter 3, to display the Technical Data and Manufacturing Plants Analysis of OTR Tires, Capacity and Commercial Production Date, Manufacturing Plants Distribution, R&D Status and Technology Source, Raw Materials Sources Analysis; Chapter 4, to show the Overall Market Analysis, Capacity Analysis (Company Segment), Sales Analysis (Company Segment), Sales Price Analysis (Company Segment); Chapter 5 and 6, to show the Regional Market Analysis, OTR Tires Segment Market Analysis (by Type); Chapter 7 and 8, to analyze the OTR Tires Segment Market Analysis (by Application) Major Manufacturers Analysis of OTR Tires; Chapter 9, Market Trend Analysis, Regional Market Trend, Market Trend by Product Type [Infrared sensor technology, Capacitive sensor technology & Automotive remote transmitter technology], Market Trend by Application [High-end cars & Luxury cars]; Chapter 10, Regional Marketing Type Analysis, International Trade Type Analysis, Supply Chain Analysis; Chapter 11, to analyze the Consumers Analysis of OTR Tires; Chapter 12, 13, 14 and 15, to describe OTR Tires sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source, disclaimer. Browse Detailed TOC, Tables, Figures, Charts and Companies Mentioned in OTR Tires Market Research Report The report answers several questions about the OTR Tires market. These questions include: What will be the market size of OTR Tires market in 2023? What will be the OTR Tires growth rate in 2023? Which key factors drive the OTR Tires market? Who are the key market players for OTR Tires? Which strategies are used by top players in the OTR Tires market? What are the key market trends in OTR Tires? Which trends and challenges will influence the growth or OTR Tires market? Which barriers do the OTR Tires markets face? What are the market opportunities for vendors and what are the threats faced by them? What are the most important outcomes of the five forces analysis of the OTR Tires market? Have a Market Research query? Drop us a message and we will get right back.

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[marketresearchtrendsblog]

OTR Tires Market By Construction & Mining Equipment, By Agriculture Tractors, By Industrial Equipment, By Type, By Region Analysis - Global Forecast 2020-2025

The OTR Tires Market is expected to be around US$ 7.30 Billion by 2025 at a CAGR of 4.50%. Off the road (OTR) tires are designed to supply traction to vehicles in uneven tract and improve stability and performance. OTR tires are incorporated on machinery that are utilised in construction, mining, agriculture, and industrial sectors. Increasing population and demand for higher yield is driving the demand for tractors and agriculture instrumentality vehicles, thereby driving the demand for OTR tires. Increase in preference for using trendy instrumentality for farming activities has boosted the adoption of tractors, that in turn is driving the OTR tire market. Global OTR Tires Market is segmented based on the Construction & Mining Equipment as Articulated Dump Truck, Rigid Dump Truck, Backoe Loaders, Asphalt Finisher, Motor Grader, Motor Scraper, RTLT-Masted, RTLT-Telescopic, Skid- Steer Loaders, Wheeled Excavators, Wheeled Loaders < 80HP, Wheeled Loaders > 80HP, Crawler Dozer, Crawler Excavators, Crawler Loader and Mini Excavators. The report segments global OTR Tires Market based on Agriculture Tractors as <30 hp Tractors, 31-100 hp Tractors, 101-200 hp Tractors and >200 hp Tractors. Based on industrial equipment it covers Forklift, Aisle Trucks and Tow Tractors. Based on type it covers Global OTR Tires Market report covers various regions including North America, Europe, Asia Pacific, and Rest of World. The regional OTR Tires Market is further bifurcated for major countries including U.S., Canada, Germany, UK, France, Italy, China, India, Japan, Brazil, South Africa and others. Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-105335 Competitive Rivalry Global OTR Tires Market share consists of several players including Continental AG, Bridgestone Corporation, MICHELIN, The Good Year Tire Company, Prometeon Tyre Group S.R.L., Yokohama Tire Corporation, Sumitomo Rubber Industries, Ltd., Nokian Tyres, China National Tire & Rubber Co., Ltd., JK Tyre & Industries Ltd., Trelleborg AB, Apollo Tyres Ltd., Quindao Rhino Tyre Co., Ltd., Titan, International Inc., and Balkrishna Industries Limited, Double Coin Tyre Group Ltd., and Triangle Group Co., Ltd. The OTR Tires Market has been segmented as below: OTR Tires Market, By Construction & Mining Equipment Articulated Dump Truck Rigid Dump Truck Backoe Loaders Asphalt Finisher Motor Grader Motor Scraper RTLT-Masted RTLT-Telescopic Skid- Steer Loaders Wheeled Excavators Wheeled Loaders < 80HP Wheeled Loaders > 80HP Crawler Dozer Crawler Excavators Crawler Loader Mini Excavators OTR Tires Market, By Agriculture Tractors <30 hp Tractors 31-100 hp Tractors 101-200 hp Tractors >200 hp Tractors OTR Tires Market, By Industrial Equipment Forklift Aisle Trucks Tow Tractors OTR Tires Market, By Type Wheeled Track OTR Tires Market, By Region North America Europe Asia Pacific Rest of World The report covers: Global OTR Tires Market estimates & forecast from 2016 to 2025, with CAGR for 2019-2025. Comparative market size analysis for 2017 & 2025, with actual data for 2017, estimates for 2018 and forecast from 2019 to 2025 Global OTR Tires Market trends, with detailed analysis on consumer trends & manufacturer trends Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors Key areas of investments identifying market opportunities and challenges in forecast timeframe Competitive analysis of the industry players along with the overview on strategic management Comprehensive company profiles of the major industry players Report scope: The global OTR Tires Market report covers detailed study with the underlying influencing factors for the variations in the industry growth trends. The report scope includes market analysis on regional as well as country level. The report also provides competitive landscape covering company market shares with detailed profiling for major revenue contributing companies. The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Continental AG, Bridgestone Corporation, MICHELIN, The Good Year Tire Company, Prometeon Tyre Group S.R.L., Yokohama Tire Corporation, Sumitomo Rubber Industries, Ltd., Nokian Tyres, China National Tire & Rubber Co., Ltd., JK Tyre & Industries Ltd., Trelleborg AB, Apollo Tyres Ltd., Quindao Rhino Tyre Co., Ltd., Titan, International Inc., and Balkrishna Industries Limited, Double Coin Tyre Group Ltd., and Triangle Group Co., Ltd. Reasons to Buy this Report: Gain comprehensive insights on the industry trends Identify industry opportunities and key growth segments Obtain complete market study on the OTR Tires Market Facilitate strategy planning for your company based on the industry dynamics Evaluate your competitor’s business segments and portfolios.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

[researchkraft19]

Off the Road Tires (OTR) Market : Growth, Demand and Key Players to 2027

Research Kraft has provided an exclusive analysis of global Off the Road Tires (OTR) Market Size, Status and Forecast to 2027 gives a detailed analysis of the market with key company profiles. The report gives a thorough evaluation of the market structure which fuses evident perceptions about the market for a predicted timeframe from 2020 to 2027. The report actively includes informative aspects relating to product developments, launches, and trends, to assist market players, shareholders, and investors in strategic decision making.

Avail a Sample to know more about the complete Report @ https://www.researchkraft.com/request-sample/1085074

The analysis of the market are explained below:

Leading key players in the market are:  Bridgestone, Michelin, Goodyear, Continental, Pirelli, Hankook, Sumitomo, Yokohama, Maxxis, Zhongce, GITI Tire, Toyo Tire, Cooper Tire, Kumho Tire, Apollo Tires Ltd, Triangle Group, Nexen Tire, Hengfeng Rubber, Nokian Tyres Global Off the Road Tires (OTR) Market Segment by Applications considering Consumption Growth Rate and Market Share:

Mining

Construction

Others

worldwide Off the Road Tires (OTR) Market Segment by Product Types considering Production, Revenue (Value), Price Trends:

All-Season Tires

Winter Tires

Summer Tires

Others

Region Analysis

The report analysis of the markets across five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. The exhaustive PEST analysis is done for each region to assess major external factors which may influence Off the Road Tires (OTR) Market in the coming years.

Ask for discount:@ https://www.researchkraft.com/check-discount/1085074

Highlights of the report:

Fathom the present and unavoidable predetermination of the Off the Road Tires (OTR) Market in both made and making markets.

Extra and cut time doing zone level examination by watching the new development, size, driving players and parts inside the general Market.

The report edifies the bit expected to overwhelm the Off the Road Tires (OTR) industry and market.

To look at and consider the market status and hypothesis among as a rule enormous zones.

To examine the general key regions advance potential and bolstered position, opportunity and challenge, controls and dangers.

Emerging niche segments and regional markets.

Research Kraft also offers customization on reports based on specific client requirement.

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[businesstobusiness-b2b]

Automotive Tires Market 2025: Industry Key Players, Share, Trend, Applications

According to the new market research report "Automotive Tires Market for OE & Replacement by Rim Size (13-15, 16-18, 19-21,>21 inches), Replacement Market, by Aspect Ratio (<60, 60-70, >70), Section Width (<200, 200-230,>230 mm), Season, Vehicle Type, Retreading Market, and Region - Global Forecast to 2025" The tires replacement market is projected to grow at a CAGR of 1.8% to reach a market size of USD 113.1 billion by 2025 from 101.7 billion in 2019. The replacement market is primarily driven by the increasing average life of vehicles and average annual miles traveled by light-duty vehicles.

Browse in-depth TOC on "Automotive Tires Market"

143 – Tables 76 – Figures   253 – Pages

The Automotive Tires Market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are Bridgestone Corporation (Japan), Continental AG (Germany), The Goodyear Tire & Rubber Company (The U.S.), Michelin (France), and Pirelli &C. S.p.A (Italy). There are certain key innovators gaining attention in the Automotive Tires Market including CODA Development (Czech Republic), Kumho Tires (South Korea), and Nokian Tyres (Finland).

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=40166492

“Passenger cars to be the largest vehicle type in the Automotive Tires Market for OE and Replacement.”

Passenger car vehicle type is expected to dominate the Automotive Tires Market for OE and Replacement. According to OICA, the passenger car production is estimated to be 58.7 million units. Also, the passenger car production is expected to account for ~70% of the total vehicle production in 2019 for select countries. With an increase in sales and increased average life of passenger cars, the passenger car fleet has also risen over the period. Based on another report from OICA, the passenger car parc is estimated to witness slight growth in 2019 as compared to 2018. This rise in sales and parc of passenger cars has influenced the demand for tires in OE as well as in the replacement market. However, factors such as increased average replacement life of tires with the advancement in the technologies, and fluctuating raw material prices may hamper the tire demand in the aftermarket.

“Light commercial vehicles to witness significant growth in the tires retreading market.”

Retreading of tires has always been a popular concept with heavy commercial vehicles, but with time the potential benefits of using it for light commercial vehicles have been noticed. In a light-duty vehicle, single tire manufacturing consumes on an average 26 liters of oil, however retreading of the same tire consumes only 9 liters of oil which is almost 34% of the new manufacturing process. On the other hand, according to Retread Tire Association, for large SUVs, a new set of four tires cost for around USD 1,000. Almost 50% of the cost is saved by adopting retreading for light-duty vehicles. Thus retreading suppliers are now focusing on light-duty vehicle retreading along with certain tire manufacturers entering into the retreading business, such as The Goodyear Tire & Rubber Company (U.S.) which has more than 1,700 tire retreading and service centers for commercial vehicles.

Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=40166492

“Asia-Oceania to grow at the highest CAGR during the forecast period for tires OE and replacement market.”

Asia-Oceania is estimated to dominate the Automotive Tires Market for OE and Replacement. The growth in Asia-Oceania is attributed to increasing vehicle production in Asian countries, which includes China, India, Japan, and South Korea. Asia Pacific spearheaded by China and India holds the lion’s share in the vehicle production across the globe. The increase in sales of the vehicles is owing to various factors such as increasing per capita income coupled with the growing demand for SUVs and premium segment vehicles. On the other hand, the tires aftermarket is driven by growth in automobile ownership per capita and the shifting demand of customers towards the use of low rolling resistance tires.

Browse Related Reports:

OTR Tires Market by Application (Construction & Mining Equipment, Industrial Equipment, Agriculture Tractor), Type (Wheeled, and Track), Retreading Market by Application, Process (Mold Cure and Pre-Cure), and Region - Global Forecast to 2025

Advanced Tires Market By On-Highway & Off-Highway Vehicle, Technology (TPMS, Chip-Embedded, Self-Inflating, All-in-one, Multi-Chamber), Autonomous Vehicle, 3D Printed, Type (Run-flat, Airless, Pneumatic), Material, and Region - Global Forecast to 2030

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[techsciresearch]

Indonesia Tire Market to be Valued USD 100.56 Billion by 2025 – TechSci Research

Abundant availability of raw materials and growing domestic automobile industry are some major factors expected to drive Indonesia tire market growth in next five years.

According to TechSci Research report, “Indonesia Tire Market By Vehicle Type (Passenger Car, Two-Wheeler, Buses & Trucks and Off-The-Road-Mining Vehicles), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Rim Size, Competition, Forecast & Opportunities, 2025”, Indonesia tire market is projected to undergo a CAGR of around 10.04% in terms of value by 2025 to reach USD100.56 billion by 2025. Growing vehicle sales and developing infrastructure are the primary factors for the growth of the market. Moreover, rising disposable income and expanding automobile fleet are also aiding to the growth of Indonesia tire market. Apart from this, increasing export, introduction of import quota regulation by the government and favourable FDI guidelines are some other key factors propelling the tire market growth in the country.

Browse 27 market data Figures and Tables spread through 44 Pages and an in-depth TOC on  "Indonesia Tire Market"

https://www.techsciresearch.com/report/indonesia-tire-market/2325.html

Indonesia tire market is categorized based on vehicle type, demand category, radial vs bias, and rim size. Based on vehicle type, the market can be categorized into passenger car, buses and truck, two-wheeler and OTR mining. Among them, the two-wheeler segment underwent highest growth until 2019 with a market share of around 67%. The segment is further expected to continue its dominance through 2025 with a market share of around 66%. The dominance of two-wheelers is backed by prevailing road infrastructure in Indonesia, thereby leading to more demand for two-wheelers and consequently their tires. Based on demand category, Indonesia tire market can be categorized into OEM and replacement. Among the two, replacement segment held dominant position in 2019 with a market share of around 74%. The segment is anticipated to undergo high growth during he forecast period as well and is likely to hold 74.58% market share.

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“Large demand for tires in Indonesia emanates from Java region, followed by Sumatra region. Being the centres of economic and commercial activities in the country, these regions cumulatively account for majority of Indonesia’s automobile fleet, and consequently, are the largest tyre markets in the country. Both, Java and Sumatra are expected to maintain their dominance in the country’s tyre market during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Indonesia Tire Market By Vehicle Type (Passenger Car, Two-Wheeler, Buses & Trucks and Off-The-Road-Mining Vehicles), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Rim Size, Competition, Forecast & Opportunities, 2025” has analyzed the potential of tire market across Indonesia, and provides statistics and information on market sizes, 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 analyzes emerging trends along with essential drivers and key challenges faced by Indonesia tire market.

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Saudi Arabia Tire Market By Vehicle Type (Passenger Car, LCV, MHCV, OTR, and Two-wheeler), By Radial Vs Bias, By Online vs Offline Sales Channel, Competition Forecast & Opportunities, 2012 – 2022

https://www.techsciresearch.com/report/saudi-arabia-tire-market/2097.html

Global Ultra High Performance (UHP) Tire Market By Vehicle Type (Passenger Car Vs Two-Wheeler), By Tire Type (Summer & All-Season Vs Winter), By Demand Category (Replacement Vs OEM), By Region, Competition Forecast & Opportunities, 2013 – 2023

https://www.techsciresearch.com/report/ultra-high-performance-uhp-tire-market/2086.html

Brazil Retreading Tire Market By Vehicle Type (Truck, Bus, OTR and Passenger Car), Competition Forecast & Opportunities, 2012 – 2022

https://www.techsciresearch.com/report/brazil-retreading-tire-market/1638.html

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