World OTR Tire Market to Post 8% CAGR till 2021, According to New TechSci Research Report Now Available at MarketPublishers.com26 May 2016 • by Natalie Aster
LONDON – Despite the 2012 eurozone debt crisis and a drop in oil prices in the last 2 years, the global off-the-road (OTR) tire sector grew at a stable pace from 2011 to 2015. Nevertheless, the production and sales of OTR vehicles worldwide saw subdued growth during the same period. In the recent years, infrastructure and construction industry sectors globally have been posting healthy growth thereby giving a boost to the demand for OTR vehicles and tires. Furthermore, growing use of heavy equipment and machineries in the farming, industrial and mining sectors has also enhanced the demand for the respective tires. The OTR tire market is forecast to grow at 8% CAGR globally through to 2021.
The mining, construction & industrial equipment segment is expected to keep on dominating the world’s OTR tire market in the offing due to the rise of construction, expanding industrial and infrastructure activities throughout the world and specially across top developing nations. In 2015, the world had over 200 OTR tire production facilities, with over 50% plants located across APAC. Alliance, Pirelli, Yokohama, BKT, Continental, Bridgestone, and Goodyear are only some of the major firms operating in the OTR tire universe.
New report “Global OTR Tire Market” created by TechSci Research provides deep insights into the market on a global scale. The study provides overall market size data (historical and forecast) by value and volume; market share assessment and forecast by vehicle type, company and region; and the calculation of the market attractiveness index by region and vehicle type. The report presents a detailed segmental analysis based on vehicle type and by demand category; regional analysis of the marketplace. The study canvasses the ongoing market trends and emerging opportunities; explores the competitive scenario and includes profiles of the 20 leading companies; and offers a detailed industry outlook for the next 5 years. Comprehensive strategic recommendations are available in the study, too.
More reports by this publisher are available at TechSci Research page.