OTR Tires Industry: rise in production of OTC tyres for mining and loading vehicles in future.
The OTR tyre is the short form for Off-The-Road tyre. These tires are called as OTR tires, since they are not used for regular vehicles but for special vehicles that are used in mining, construction and other industries. These tires are huge and very tough for working in difficult surfaces. The Earthmover tyres, mining tires and other construction or industrial vehicles have these OTC tires. There is high scope for the OTR Tires Industry across the globe in the upcoming years.
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Scope and Regional Forecast of the OTR Tires Industry:
North America is one of the prominent regions for the OTR Tires Industry. The high development in the industrial sector, mining sector and construction sector drives the demand for the OTC tires in this region. The US has high investment in this industry owing to high use of OTR tires. Discount tire is often used for emergency usage.
Europe is expected to witness high demand in the OTR Tires Industry owing to the rising industrialization and urbanization in this region. Germany, France and Italy are the major countries for this industry in the European region.
Asia Pacific is expected to be the fastest growing region in the OTR Tires Industry owing to the emerging economies China, India and Japan which are actively participating in the growth of constructional and mining activities in this region. MRF tyres of India and Bridgestone of Japan are some of the notable players of this industry in Asia Pacific.
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Segmentation and Key Players of the OTR Tires Industry:
The OTR Tires Industry is segmented into various categories by application, by country and by region as follows:
By application: mining, construction, defense, aircrafts and others
By country: United States, Germany, Japan and China
By region: North America, Europe and Asia
Some of the key players in the OTR Tires Industry that manufactures tough and durable tyres are as follows:
- Good Year
- Pirelli & C. S.p.A
The OTR Tires Industry is a rapidly growing market owing to the high use of radial tires, gateway tires, earthmover tires and other industrial tire applications in various end user sectors across the globe. This market is expected to witness high growth owing to the tire ratings given to the big tires based on their durability and usability for tough industrial and mining works in the upcoming years.
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