DUBLIN--(BUSINESS WIRE)--The "North America OTR Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The North America OTR tire market reached a volume of 405.0 thousand units in 2021. Looking forward, the publisher expects the market to reach 580.7 thousand units by 2027, exhibiting a CAGR of 6.5% during 2022-2027. 7

Off-the-road (OTR) tires refer to the deeply tramped tires that provide high traction over unlevelled surfaces, including rock, mud, loose dirt, or gravel. These tires are designed for usage across ports, construction sites, agricultural lands, mining areas, etc. Some of the common off-the-road vehicles include cranes, wheel loaders, telescopic handlers, tractors, all-terrain vehicles (ATVs), military trucks, specialized purpose vehicles, etc.

OTR tires provide good handling and high tread life, better durability, enhanced vehicular performance, optimum stability, and reduced contact patch area. As a result, these tires are widely adopted across various sectors, including construction, mining, recreation, agriculture, etc.

North America OTR Tire Market Trends:

In North America, the expanding construction sector, along with the increasing development of numerous infrastructural projects, including housing facilities, industrial complexes, road and railway networks, etc., is primarily driving the OTR tire market.

In line with this, rising investments in the upgradation of several commercial structures, such as bridges, highways, dams, power supply grids, etc., across different terrains are also augmenting the OTR tire market. Additionally, the growing deployment of forklifts, cranes, bulldozers, etc., for enhancing the safety and security of workers during heavy-duty construction activities is further propelling the demand for OTR tires in the region.

Besides this, the expanding mining industry, coupled with the extensive utilization of fully mechanized equipment for quarrying activities, is positively influencing the growth of the North America OTR tire market. Moreover, the escalating adoption of integrated farm machinery for numerous labor-intensive tasks in the agriculture sector is also bolstering demand for OTR tires.

Apart from this, the increasing popularity of All-terrain vehicles (ATVs), such as dirt bikes and quads, for various recreational purposes is acting as another significant growth-inducing factor.

Furthermore, the emergence of advanced product variants that are integrated with sensor-based technologies for monitoring tire pressure and temperature and minimizing the risk of potential hazards by providing real-time data analysis is expected to drive the North America OTR tire market in the coming years.

Key Questions Answered in this Report:

  • How has the North America OTR tire market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the North America OTR tire market?
  • What are the key regional markets?
  • What is the breakup of the market based on the demand?
  • What is the breakup of the market based on the tire size?
  • What is the breakup of the market based on the tire type?
  • What is the breakup of the market based on the vehicle type?
  • What is the breakup of the market based on the distribution channel?
  • What are the various stages in the Volume chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the North America OTR tire market and who are the key players?
  • What is the degree of competition in the industry?

Companies Mentioned

  • Bridgestone Corporation
  • CMA, LLC
  • Continental AG
  • Cooper Tire & Rubber Company
  • Titan International, Inc.
  • Michelin
  • Nokian Tyres plc
  • The Yokohama Rubber Co, Ltd.
  • Toyo Tire Corporation
  • Trelleborg AB
  • Triangle Tyre Co., Ltd
  • Pirelli & C. S.p.A.

For more information about this report visit https://www.researchandmarkets.com/r/65fohz

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