RESOURCEFUL TYRES

In OTR tyres, slowdown is likely a thing of the past, as post-pandemic construction and mining has picked up the pace in an effort to make up for lost time

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The global OTR tyres market is gaining traction because of the increase in the sales of off-highway vehicles and rising farm mechanization. BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global OTR tyres market size at $3.65 billion in 2022. During the forecast period between 2023 and 2029, the global OTR tyres market size is projected to grow at a CAGR of 7.80% reaching a value of $6.11 billion by 2029. Accelerated urbanization and industrialization, particularly in developing countries, as well as the rising modernization of farms, particularly in emerging countries, and the rising demand for modern agricultural vehicles globally are all major growth factors for the global off-the-road (OTR) tyres market.

OTR tyres are a type of off-road tyre that is used to provide more traction on unpaved surfaces, such as loose dirt, mud, sand, or gravel. These tyres, which are typically radial with thick, deep treads, are intended for use in both on- and off-road vehicles. OTR tyres that can perform in harsh conditions without sacrificing safety, quality, or performance are required for heavy-duty equipment and vehicles. OTR tyres have been used in a wide range of industrial applications, including aircraft tow vehicles, articulated dump trucks, container handlers, and others. Based on the distribution channel, the global OTR tyres market is segmented into OEM and aftermarket.