Luton, Bedfordshire, United Kingdom, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the OTR Tires Market.
The global OTR Tires market size is USD 8.27 billion in 2020 and is expected to grow till USD 14.02 billion by 2029, at a Compounded annual growth rate (CAGR) of 6.25%.
OTR tires are used in various commercial off-the-road vehicles for construction, mining, agriculture, and industrial applications. These tires are engineered and customized to work at extreme conditions such as high load-bearing, rough surface, different weather conditions, and traction. Compositions of materials tread patterns, and several other parameters of the OTR tire change as per vehicle types and requirements.
OTR tire design, production, and testing are all R&D processes that take into account all of the needs and regulations. Large customized press machines are used in the production of OTR tires, where processes such as vulcanization and curing take place. The cost of raw materials used in the production of OTR tires, as well as the cost of press machines, is both expensive. As a result, no market participant can afford to invest heavily in research and development.
Download Report (150 Pages PDF with Insights, Charts, Tables, Figures) at:
https://exactitudeconsultancy.com/reports/9962/otr-tires-market/#request-a-sample
Industry News:
- In March 2021, The EV-4M Port Handler was introduced by Goodyear. The new tire has a high-strength bead bundle, sidewall inserts, a stronger wedge, and a durable casing. Improved treadwear, durability, comfort, and stability, as well as higher efficiency and operating efficiency, are all benefits of these qualities. Container handlers, reach stackers, straddle carriers, shuttle sprinter carriers, and other equipment may use the new EV-4M Port Handler, which comes in new 450/95R25 sizes.
- In May 2021, Michelin has added the TRAILXBIB to its line of agricultural OTR tires. The tire is built with farm equipment capability and revolutionary technology to retain soil, guarantee uniform weight distribution, and provide high levels of soil protection through the tire contact patch.
Product Portfolio: The Company has a product portfolio of OTR Tires Market that includes:
OTR Tires Market: Growing competition among key players, increasing horizontal and vertical expansion is further expected to fuel the growth of OTR Tires Market.
Key players operating the global Continental AG, Bridgestone Corporation, Michelin, Goodyear Tire & Rubber Company, and Pirelli & C. S.p.A.
OTR Tires Market Scope: Discount on report
| OTR Tires Market | |||
| Report Coverage of OTR Tires Market | Details | ||
| Base Year: | 2021 | Forecast Period: | 2020 |
| Historical Data: | 2017-2021 | 2020 | US$ 8.27 billion |
| Forecast Period 2022 to 2029 CAGR: | 6.25% | Market Size in 2029: | US$ 14.02 Billion |
| Key Market Segments: | Equipment Type |
| |
| By Application |
| ||
| by Industrial Equipment |
| ||
Browse Detailed Research Insights with TOC:
https://exactitudeconsultancy.com/reports/9962/otr-tires-market/
Regional Dominance: Asia Pacific is expected to hold the largest share of the global OTR Tires market.
Increased Urbanization in APAC countries will drive the OTR tires market. Growing urbanization in Asia’s growing economies, such as China and India, will certainly need the development of critical infrastructure to meet rising transportation, electricity, and water demands. Government efforts such as the creation of Smart Cities in India and the growth of megacities in Japan and South Korea are expected to stimulate regional infrastructure development. The Asian Infrastructure Investment Bank (AIIB), which offers finance to construction and mining enterprises for capital goods investments and other inventory at reduced lending rates, is also driving the expansion of the construction and mining equipment market in Asia Pacific.
Key questions answered in this report:
- What is the current market size of this high growth market?
- What is the overall growth rate?
- What are the key growth areas, applications, end uses and types?
- Key reasons for growth
- Challenges for growth
- What technological developments are happening in this area?
Click here to avail lucrative discounts on our latest report:
https://exactitudeconsultancy.com/reports/9962/otr-tires-market/#inquire-for-discount
Explore Trending Automotive Industry Research Reports:
Autonomous Ships Market
The global autonomous ships market is expected to grow at 7% CAGR from 2019 to 2028. It is expected to reach above USD 9.97billion by 2028 from USD 5.42 billion in 2019.
Autonomous ships are refereed as crewless ships. These types of ships are equipped with the software & hardware without human interference. Autonomous ship contains various types of devices like sensors, automated navigation, propulsion & auxiliary systems, GPS tracker, and so on. These devices help to make decision in accordance with the environment. Automated ships are controlled & monitored by using the off-board control centers with the interference of humans.
In-Vehicle Infotainment Market
The global In-Vehicle Infotainment Market is projected to reach USD 41.05 billion by 2029 from USD 21.41 billion in 2020, at a CAGR of 7.5 % from 2022 to 2029.
In-Vehicle Infotainment Market refers to a comprehensive set of advanced features that are built into automobiles to provide entertainment, information, connectivity, and communication services. To provide entertainment and information to drivers and passengers, the entire system employs audio/video (A/V) interfaces, touchscreens, keypads, and other types of devices. Bluetooth, Wi-Fi connectivity, interactive voice recognition services, live media streaming, and smart technology for mobile integration are all possible with advanced infotainment systems.
Exhaust System Market
The global exhaust system market is expected to grow at a 2.60% CAGR from 2020 to 2029. It is expected to reach above USD 48.21 billion by 2029 from USD 38.85 billion in 2020.
Exhaust gases emitted by engine cylinders are gathered and cooled by the exhaust manifold before being sent to the catalytic converter through the downpipe. The catalytic converter and after-treatment devices function as exhaust gas purifiers, removing hazardous elements from the gases. Automotive Diesel engines include a diesel particulate filter a diesel oxidation catalyst, a low NOx trap, and a selective catalytic converter; gasoline engines have a gasoline particulate filter.
3D Sewing Robots Market
The Global 3D Sewing Robots Market is expected to grow at more than 6.2% CAGR from 2019 to 2026. It is expected to reach above USD 135 million by 2026 from a little above USD 97 million in 2019.
The producers of 3D sewing robots point to the fact that even an automated line will still need a certain number of workers. According to their point of view, once companies relocate production back home, they will contribute to boosting their local economy. It must be noted, in any case, that the number of labourers needed to manage an automated line are considerably less than what is currently needed. Therefore, even if a local economy benefits from the new technology, on a global scale there will be a loss of jobs.
