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.
Bu hikaye Construction Week dergisinin January 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Construction Week dergisinin January 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
PROOF IS IN THE ROOF
Roofing, cladding and waterproofing are not concerns that you constantly need to spend on, if you get it first time right
SAVE YOURSELF
Green buildings are the way to go if you want to live a healthier life and also save the environment
THE LONG VIEW
Facades, fenestration and cladding are now more high-end and sophisticated. What has evolved?
PRUDENT PURSUITS
Ajay Ashar, CMD, Ashar Group, is known for his meticulous approach and commitment towards his projects that help him stand out among peers in the competitive real estate market
MACE TO TRANSFORM AHMEDABAD RAILWAY STATION
The redevelopment project covers almost 40 hectares
RITES INKS PACT WITH BANGLADESH RAILWAY
Rites has been a old partner in Bangladesh's path to infrastructure development
K RAHEJA CORP HOMES' MAIDEN VENTURE IN SION
Will feature 3, 3.5, and 4-bed homes with decks
GODREJ JARDINIA HITS RS 2,000 CRORE BOOKING VALUE!
Sector 146 is a prominent upcoming residential corridor in Noida
TRIFECTA PROJECTS UNVEILS TRIFECTA VANTO
Is located in the prime area of Sarjapur Road
KANODIA GROUP TARGETS RS 1000 CR REVENUE
The location of the acquired land is considered prime