Lewes, DE -- (SBWire) -- 12/11/2018 --OTR Tires market will register a 4.0% CAGR in terms of revenue, reach US$ 15100 million by 2023, from US$ 11900 million in 2017.
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 production and sales volume of OTR tires is directly affected by downstream industries and global economy. Over the past six years, the market of construction and mining equipment has experienced fast growth and decline, as well as the OTR Tires market. The demand of OTR Tires reached a peak in 2013, just as what the construction and mining equipment industry experienced. And over the past two years, the OTR tires industry has faced decline which seems almost hard to bear for related enterprises.
As the global economy growth rate is forecasted to slow down, especially in China, which is one of the largest markets of OTR Tires; the market of OTR Tires in the following five years seems will not enjoy that fast growth. But as the market in India, Africa and some other developing regions is also promising, the industry of OTR tires is forecasted to recovery after 2016, though it will not grow as fast as what happens before 2013.
Currently, the global production capacity of OTR Tires is much higher than what is really needed. The capacity utilization rate of OTR tires manufacturers is not satisfactory. And as there are more than a hundred manufacturers of OTR Tires worldwide, the market competition is quite fierce. But it is forecasted that the number of OTR Tires worldwide may be reduced, as some enterprises may not be able to struggle to survive.
Over the next five years, study projects that OTR Tires will register a 4.0% CAGR in terms of revenue, reach US$ 15100 million by 2023, from US$ 11900 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of OTR Tires market by product type, application, key manufacturers and key regions.
To calculate the market size, study considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Rim Diameter ?29 inch
29 inch?Rim Diameter?39 inch
39 inch?Rim Diameter?49 inch
Rim Diameter ?49 inch
Segmentation by application:
Construction
Mining
Port
Agricultural
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Michelin
Bridgestone
Goodyear
Titan
Yokohama Tire
China National Tyre & Rubber
Continental
Alliance Tire Group
BKT
Guizhou Tire
Linglong Tire
Apollo
Pirelli
Prinx Chengshan
Double Coin Holdings
Triangle
Zhongce Rubber
Fujian Haian Rubber
Shandong Taishan Tyre
Shandong Yinbao
Doublestar
JK Tyre
Eurotire
Hawk International Rubber
Techking Tires
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global OTR Tires consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of OTR Tires market by identifying its various subsegments.
Focuses on the key global OTR Tires manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the OTR Tires with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of OTR Tires submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Spanning over 180 pages "Forecast of Global OTR Tires Consumption Market 2023" report covers Scope of the Report, Executive Summary, Global OTR Tires by Players, OTR Tires by Regions, Market Drivers, Challenges and Trends, Marketing, Distributors and Customer, Global OTR Tires Market Forecast, Key Players Analysis, Research Findings and Conclusion.
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