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.
Diese Geschichte stammt aus der January 2024-Ausgabe von Construction Week.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der January 2024-Ausgabe von Construction Week.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
ELEVATOR INDUSTRY GETS BOOST FROM GROWING METRO NETWORKS
The elevators and escalators industry is seeing a boom. Metro rail networks are one of the main reasons
NAVIGATING A CHANGING LANDSCAPE
How APL Apollo is adapting to meet the evolving needs of the steel tube industry
CASAGRAND CASABLANCA
The property is a sanctuary of indulgence
PURVA CLERMONT
The epitome of global living in Chembur, Mumbai
ELAN GROUP TRUSTS LEIGHTON ASIA WITH 2ND CONTRACT
Will begin work in November
MAHA GOVT SETS NEW RECORD IN INFRA DEVELOPMENT
The firm raise Rs 730 cr through its IPO
FINALLY! TWO ADDITIONAL RAILWAY LINES
With an estimated cost of Rs 2,184.02 crore
TWIN TOWERS COMING UP IN NOIDA SOON
The two towers will be juxtaposed In cosmic precision
RUSTOMJEE INTRODUCES 'VERDANT VISTAS' IN THANE
Expansive residences with uninterrupted creek views
A MEAN MACHINE
Backhoe loaders are one of the most versatile equipment, and why