OTR tire market is anticipated to grow at a significant CAGR of 14.7% during the forecast period (2024-2031). The market growth is attributed to the increasing infrastructure projects globally and an increased need for heavy machinery in the mining, construction, and agricultural sectors accelerating the demand for OTR tires. Furthermore, increasing tire technology innovation including improved tread patterns and durability stimulates market expansion by increasing equipment operator productivity and decreasing downtime.

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The material used in OTR tires is designed to reduce operating temperatures and prolong tire life for more effective operation. Many industry participants provide OTR tires that are more durable, energy-efficient, require less raw materials, emit less CO2, and produce fewer tires that are nearing the end of their useful lives. Different compounds are needed in different parts of tires depending on the specific application of the material. Manufacturers may modify existing compound formulations by using various carbon-black materials, silica, or other curing packages, depending on the application and requirement, to optimize the curing durations for that specific vulcanization. To further strengthen and reinforce the rubber, additional elements can be added, such as silica or carbon black.

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Market Coverage
Market number available for – 2024-2031
Base year- 2023
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others

Market Segmentation

Global OTR Tire Market by Equipment Type

Articulated Dump Trucks
Asphalt Finishers
Backhoe Loaders
Motor Graders
Rigid Dump Trucks
RTLT-Telescopic
Skid-steer Loaders
Wheeled Excavators
Wheeled Loader
Others (Agriculture Tractors)

Global OTR Tire Market by Tire Type

Radial
Bias
Solid

Global OTR Tire Market by Application

Construction & Mining Equipment
Agriculture Tractors
Industrial Equipment
All-Terrain Vehicles

Regional Analysis

North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Latin America
The Middle East & Africa

Company Profiles 

Apollo Tyres Ltd.
Balkrishna Industries Ltd.
Camso Inc.
CEAT Ltd.
Double Coin (CMA LLC.)
Giti Tire
JK TYRE & INDUSTRIES LTD.
Shandong Linglong Tyre Co.,Ltd.
MAXAM TIRE
Michelin North America, Inc.
Nokian Tyres plc
Pirelli & C. S.p.A.
Sumitomo Rubber Industries, Ltd.
The Carlstar Group
Titan International, Inc.
Triangle Group Co., Ltd.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global OTR tire market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.

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