LONDON, May 17, 2016 /PRNewswire/ -- Globally, off-the-road (OTR) tires are majorly used in vehicles employed in agriculture, mining, construction and industrial sectors. Consequently, any changes or fluctuations in the aforementioned sectors directly influences the growth of global OTR tire market. Despite Eurozone crisis in 2012 and decline in oil prices over the last couple of years, the global OTR tire market grew at a steady pace during 2011-2015. However, the OTR vehicle production and sales across the world witnessed sluggish growth during the same period. Over the last few years, construction and infrastructure sectors across the globe have been registering healthy growing rate, thereby positively influencing demand for OTR vehicles as well as OTR tires. Moreover, increasing use of heavy machineries and equipment in agriculture, mining and industrial sectors has further swelled the demand for agricultural, mining and industrial tires.
According to "Global OTR Tire Market By Vehicle Type, By Demand Category, By Region, Competition Forecast and Opportunities, 2011 - 2021", the global OTR tire market is projected to grow at a CAGR of 8% during 2016-2021. On the basis of vehicle type, the market has been segmented into three categories - Mining, Construction & Industrial Equipment; Agriculture Vehicles; and Others. Among these categories, Mining, Construction & Industrial Equipment segment dominated the global OTR tire market during 2011-2015, and the segment in anticipated to maintain its dominance during the forecast period as well on account of growing construction, industrial and infrastructure activities across the globe and more specifically in major developing countries. As of 2015, there were over 200 OTR tire manufacturing facilities across the globe, with more than 50% plants in Asia-Pacific region. As a result, Asia-Pacific region dominated the global OTR tire market in 2015. Few of the major companies operating in global OTR tire market are Yokohama, Pirelli, Alliance, BKT, Continental, Goodyear, and Bridgestone, among others. "Global OTR Tire Market By Vehicle Type, By Demand Category, By Region, Competition Forecast and Opportunities, 2011 - 2021" discusses the following aspects of global OTR tire market:
- Global OTR tire Market Size, Share & Forecast
- Segmental Analysis - By Vehicle Type (Agriculture Equipment, Industrial Equipment's, ATVs, etc.), By Demand Category (OEM Vs. Replacement)
- Regional Analysis - Asia-Pacific, Europe, North America, South America, and Middle East & Africa
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of global natural OTR tire market
- To identify the on-going trends and anticipated growth in the next five years
- To help industry consultants, OTR tire manufacturers, distributors and other stakeholders align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based upon both primary and secondary research. Primary research included interaction with OTR tire manufacturers, distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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