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(Transportation-News.com, December 13, 2018 ) The OTR tires market was valued at USD 4.91 Billion in 2016 and is projected to reach USD 7.68 Billion by 2025, growing at a CAGR of 4.64% during the forecast period. Increase in infrastructural activities, government subsidies, & rapid mechanization in agriculture are expected to boost OTR tires requirement.
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OTR tires market for construction & mining equipment is projected to grow at the fastest CAGR during the forecast period from 2017 to 2022. The growth of the infrastructure industry is expected to drive the construction equipment market and, hence, the requirement of tires. This growth can be attributed to major upcoming construction projects around the globe, primarily in developing nations.
Key Target Audience
• Aftermarket and tire retreading associations
• Automotive OEMs
• Governments’ national and regional environmental regulatory agencies or organizations
• Manufacturers of OTR tires
• Organized and unorganized aftermarket suppliers
• Raw material manufacturers of tires/tire components (suppliers for Tier I)
• Regional manufacturer associations
• Tire retreading companies
• Traders, distributors, and suppliers of tires, tire components, and raw materials
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Study segments the OTR tires market by application and region. Construction and mining equipment market is estimated to grow at highest rate during forecast period. Growth will be driven by increasing demand in Asia Oceania & North America. OTR tires for agriculture tractors segment is estimated to be largest market during forecast period due to increasing demand from developing countries and Asia Oceania region.
OTR Tires Market, By Construction and Mining Equipment & Country
• Articulated Dump Truck
• Rigid Dump Truck
• Backoe Loaders
• Asphalt Finisher
• Motor Grader
• Motor Scraper
• RTLT-Masted
• RTLT-Telescopic
• Skid- Steer Loaders
• Wheeled Excavators
• Wheeled Loaders < 80HP
• Wheeled Loaders > 80HP
• Crawler Dozer
• Crawler Excavators
• Crawler Loader
• Mini Excavators
More Information on “OTR Tires Market by Application (Construction & Mining Equipment, Industrial Equipment, Agriculture Tractor), Type (Wheeled, and Track), Retreading Market by Application, Process (Mold Cure and Pre-Cure), and Region - Global Forecast to 2025” research http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=1319048 .
The agriculture tractors segment is projected to be the largest segment of the OTR tires market, by application. The growth of this segment can be attributed to the increasing focus on mechanization and government subsidies in regions such as Asia Oceania and Europe.
The study contains insights provided by various industry experts. The break-up of the primaries is as follows:
• By Company Type: Tier-1 - 70%, Tier-2 - 20%, andTier-3/OEM - 10%
• By Designation: Manager level –60%,C level - 25 % Other- 15%
• By Region: Asia Oceania–35%,North America - 30%, Europe - 20%, and RoW – 15%
The use of tractors has significantly increased in developing and farming countries such as China and India. The agriculture tractors segment is estimated to lead the OTR tires retreading market as well, by volume. On other hand, major factors hindering growth of OTR Tires market for organized players are high cost of R&D & low-cost tires offered in unorganized market.
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Source: EmailWire.Com 
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