OTR Tires Market - Global Forecast to 2025
DUBLIN, March 23, 2018 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
The OTR tires market was valued at USD 5.34 Billion in 2017 and is projected to grow at a CAGR of 4.64% during the forecast period to reach to USD 7.68 Billion by 2025.
The OTR tires market is projected to grow due to the increasing demand for agriculture tractors, construction & mining equipment fueled by mechanization and high infrastructural development in developing countries. Due to increased machine hours, the tire replacement time has seen a slight decline in recent times. Retreaded tires cost 1/3rd of the price of new tires and have good durability. Thus, the market for retreaded tires is projected to grow significantly in near future.
The study segments the OTR tires market by application and region. The construction and mining equipment market is estimated to grow at the highest rate during the forecast period. The growth will be driven by the increasing demand in Asia Oceania and North America. OTR tires for agriculture tractors segment is estimated to be the largest market during the forecast period due to the increasing demand from developing countries and Asia Oceania region. Increased industrial automation is also projected to influence OTR tires market for industrial applications.
The study segments the OTR tires market, by type, into wheeled and rubber track. Rubber tracks market is estimated to be the fastest growing market; whereas, the wheeled market is estimated to be the largest market during the forecast period. The crawler equipment is imposed with the tracks in which there is very less penetration of rubber track. Tracks have a larger surface area in contact with the ground. Tracks help to pull heavy load as weight is distributed evenly, without causing soil compaction. The increasing demand for rubber tracks in developed regions makes it the fastest growing market.
The OTR tires market is also segmented by retreading applications and region. The construction and mining equipment type holds the major share in the retreading market. The advancements in construction & mining equipment, such as automation and electrification, have helped the fleet operators to use the equipment in multiple shifts. This has led to decreased tire replacement duration, thereby to the increased demand for aftermarket tires. The demand for retreaded tires is projected to grow also due to the high cost of new tires.
The study segments the OTR tires market by process (Pre-Cure, Mold Cure). The pre-cure market is projected to be the largest market; whereas, mold cure market, by value, is expected to be the fastest growing market during the forecast period. The mold cure process is a capital-intensive process as it requires investments in the mold. The market for pre-cure is the largest as it is relatively economical process. The market share of mold cure retreading is projected to reduce significantly as the pre-cure process is simpler and cost effective.
The major factors hindering the growth of the OTR Tires market for the organized players are the high cost of R&D and low-cost tires offered in unorganized market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the OTR Tires Market
4.2 OTR Tires Market, By Construction & Mining Equipment
4.3 OTR Tires Market, By Agriculture Tractors
4.4 OTR Tires Market, By Industrial Vehicles
4.5 OTR Tires Market, By Region & Application
4.6 OTR Tires Market, By Type
4.7 OTR Tires Retreading Market, By Application
4.8 OTR Tires Retreading Market, By Region
4.9 OTR Tires Retreading Market, By Process
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Sales of Off-Highway Vehicles
5.2.1.1.1 Increase in Construction Activities
5.2.1.1.2 Increasing Farm Mechanization
5.2.1.1.3 Government Subsidies on Agriculture Equipment
5.2.1.2 High Cost of New Tires Will Boost the Retreading Market
5.2.2 Restraints
5.2.2.1 Extreme Weather Conditions and Customization Lead to High R&D Expenditure
5.2.2.2 Low-Cost Tires From Unorganized Market
5.2.2.2.1 Decreasing Sales From Organized Market/Channels
5.2.2.2.2 Low Cost of Chinese Tires: Responsible Factors
5.2.3 Opportunities
5.2.3.1 Eco-Friendly Tires Can Be Extended for OTR Tires
5.2.4 Challenges
5.2.4.1 Fluctuating Raw Material Prices
5.2.5 Macro Indicator Analysis
5.2.5.1 Introduction
5.2.5.2 US
5.2.5.3 China
5.2.5.4 Germany
6 Impact Analysis
6.1 Introduction
6.1.1 Introduction of Autonomous Tractors
6.1.2 Autonomous Mining
6.1.3 OTR Tires: Technological Advances
6.1.3.1 Radial Tires
6.1.3.2 Sensor-Based Tires
6.1.3.3 Nanotechnology
7 OTR Tires Market, By Construction & Mining Equipment
7.1 Introduction
7.2 Articulated Dump Truck
7.3 Rigid Dump Truck
7.4 Backhoe Loader
7.5 Asphalt Finisher
7.6 Motor Grader
7.7 Motor Scraper
7.8 RTLT-Masted
7.9 RTLT-Telescopic
7.10 Skid-Steer Loader
7.11 Wheeled Excavator
7.12 Wheeled Loader <_0 />7.13 Wheeled Loader >80 hp
7.14 Crawler Dozer
7.15 Crawler Excavator
7.16 Crawler Loader
7.17 Mini Excavators
8 OTR Tires Market, By Agriculture Tractors
8.1 Introduction
8.2 <_0 hp="hp" />8.3 31-100 hp Tractors
8.4 101-200 hp Tractors
8.5 >200 hp Tractors
9 OTR Tires Market, By Industrial Equipment
9.1 Introduction
9.2 Forklift
9.3 Aisle Trucks
9.4 Tow Tractors
9.5 Container Handlers
10 OTR Tires Market, By Type
10.1 Introduction
10.2 Wheeled
10.3 Rubber Tracks
11 OTR Tires Market, By Application & Region
11.1 Introduction
11.2 Asia Oceania
11.3 North America
11.4 Europe
11.5 RoW
12 OTR Tires Retreading Market, By Process
12.1 Introduction
12.2 Pre-Cure
12.3 Mold Cure
13 OTR Tires Retreading Market, By Application & Region
13.1 Introduction
13.2 Asia Oceania
13.3 Europe
13.4 North America
13.5 RoW
14 Competitive Landscape
14.1 Introduction
14.2 Market Ranking Analysis
14.3 Competitive Scenario
15 Company Profiles
- Bridgestone
- Ceat
- Continental
- Goodyear
- Hankook Tire
- Michelin
- Nokian
- Pirelli
- Sumitomo
- Yokohama
For more information about this report visit https://www.researchandmarkets.com/research/pqv26g/otr_tires_market?w=5
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