The OTR tires are used for Off-The-Road applications and are made of durable materials than that of conventional tires to run on any type of surface without any problem. These tires are often employed for applications such as earthmoving, mining, construction site vehicles and others. There is high scope for the OTR Tires Market in various regions across the globe in the upcoming term.
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Scope and Regional Forecast of the OTR Tires Market:
North America has high demand for the OTR Tires Market in various end user industries such as construction, mining, defense and others. The US is the major investor for the development of this market with many companies in this region in future.
Europe is anticipated to witness healthy growth in the OTR Tires Market with various countries of this region among which Germany is the leading country with high demand and utilization of OTR tires for industrial activities.
Asia Pacific is the largest region in the OTR Tires Market with increasing investment by many companies for the use of OTR tires for earthmoving, mining and other activities. China and India are the major markets for the growth of this market with high construction activities in these countries in the upcoming years.
The OTR Tires Market is fast growing market with increasing demand for big tires that are used for Off-The-Road applications in different applications such as earth moving, mining and other activities in various regions across the globe. This market is expected to have high growth owing to the increasing production and supply of OTR tyres by manufacturers, growing demand for earthmover tires, mining tires and others and high R&D for tires for better performance and damage resistance by tyre companies in various regions across the globe in the upcoming years.
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Segmentation and Key Players of the OTR Tires Market:
The OTR Tires Market is segmented into various categories by application, by country and by region as follows:
By application: mining, construction, defense, aircrafts and others
By country: United States, China
By region: North America, South America, Asia Pacific and EMEA (Europe, Middle East and Africa)
The key players in the OTR Tires Market are as follows:
- Bridgestone
- Michelin
- Good Year
- Pirelli & C. S.p.A
- Sumitomo
There is high demand for earthmover tyres, mining tyres and radial tires for automotive applications in tyre companies in various regions across the globe in the upcoming years.
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