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.

Northbrook, IL -- (SBWire) -- 01/22/2018 --The report "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"

The OTR tires market, by value, is projected to grow at a CAGR of 4.64% from 2017 to 2025 to reach USD 7.68 Billion by 2025 from USD 5.34 Billion in 2017.

The market is projected to grow due to key reasons such as increasing demand for agriculture tractors and construction & mining equipment caused by mechanization and high infrastructural development in developing countries. The increase in manufacturing activities in developing economies is projected to drive the market for industrial equipment tires.

Download PDF Brochure to Know More @ https://www.marketsandmarkets.com/pdfdownload.asp?id=205158802

Browse 99 market data Tables and 56 Figures spread through 183 Pages and in-depth TOC 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"

Early buyers will receive 10% customization on reports.

"OTR tires for Agriculture tractors accounts to have the largest market"

Among all the applications agriculture tractors segment is expected to account for the largest market share in 2017. The <30 hp tractors segment is estimated to have the largest demand for OTR tires during the forecast period. China and India are estimated to be the key markets for tractors in the power output range up to 100 hp. The growth in the Chinese market can be attributed to the significant rise in the agricultural mechanization level; whereas, in India, factors such as small farm sizes and price sensitivity play a vital role.

"Construction and Mining Equipment segment to grow at the fastest pace in the OTR tires retreading market"

The construction and mining equipment tires are expected to have a major share in the retreading market compared with agriculture and industrial equipment tires. The fleet operators are choosing retreading of tires over replacement as the cost of retreaded tires is significantly lower than that of newly replaced tires. The OTR tire retreading market is estimated to grow at the fastest rate owing to the increase in mechanization and the average working hours of machine. This leads to the wear and tear of tires.

"Infrastructure development and government subsidies on equipment would drive the Asian Oceania OTR tires market"

According to Global Property Guide, the number of residential and commercial buildings in Asia Oceania is expected to increase over the next decade due to the boom in the real estate market. Infrastructural activities are also projected to increase as they form a critical part in improving connectivity and promoting sustainable growth. Due to these factors, the market in Asia Oceania is expected to be the largest during the forecast period.

The key companies profiled in the study are as Continental (Germany), Bridgestone (Japan), Michelin (France), Goodyear (US), Pirelli (Italy), Sumitomo (Japan), Yokohama (Japan), Hankook Tire (South Korea), Nokian Tyres (Finland), and CEAT (India)

Request for a Customization @ https://www.marketsandmarkets.com/requestCustomization.asp?id=205158802

About MarketsandMarkets™
MarketsandMarkets™ is the world's largest revenue impact company, serving over 5000 customers including 80% of the top 2000 companies in the industries that we track. In the face of constant technology innovation and market disruption we help organizations plan & operationalize their future revenue mix decisions by identifying over 30,000 high growth opportunities ranging from $1B to $500B. Our revenue impact methodology provides actionable & quantified insights on converged, granular and networked market eco-systems that result from disruptive technologies and high-growth markets. We provide an extended lens on not only what will impact our client's revenue but also what will impact their clients' revenues, thus uncovering latent opportunities.

Organizations choose MarketsandMarkets™ to stay ahead of the curve and accelerate their hot-bet revenue decisions and implementations by 6 – 12 months giving them a unique fast-mover innovation advantage. We work across all major B2B industries with the C-level executives in functions such as Strategy, Marketing, Sales, R&D, Product, M&A etc.

MarketsandMarkets™ brings exclusive high-growth markets intelligence generated by over 850 SMEs and analysts along with its proprietary Revenue Impact platform (Knowledge Store) to support decision making. Over 70% of our intelligence is exclusive and we advise our clients on areas such as - What revenues can you expect from newer innovations? Where are the explicit and latent opportunities, markets, technologies, products, and use cases? What is the opportunity for your client in $ terms by adopting your new products and offerings? Our engagement model ensures ongoing contextual deep-dives and operationalization of revenue impact decisions

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
USA: 1-888-600-6441
UK: 44-800-368-9399
sales@marketsandmarkets.com
Visit our Blog @ http://mnmblog.org/market-research/automotive-transportation
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets