Global OTR Tires Market Growth Opportunity 2018-2025

The global OTR Tires market is valued at 8410 million USD in 2017 and is expected to reach 12200 million USD by the end of 2025, growing at a CAGR of 4.8% between 2018 and 2025.

This press release was orginally distributed by SBWire

City of Industry, CA -- (SBWIRE) -- 06/27/2018 -- This report studies the global OTR Tires industry status, China market entry and growth opportunity, focuses on the Chinese local and International manufacturers, analyzes the China market competition landscape, market size (value and volume), opportunity and challenge, risk and entry barriers.

OTR Tires (Off-the-road tires) are utilized for large-scale machinery at construction and mining and other sites with no roads. These tires mainly made with premium casings and 

durable compounds. Off-the-road tires offer substantial support for machinery used at various civil engineering sites, including ultra-large dump trucks, earth and gravel at mining and dam construction sites, bulldozers for earth removal and graders for road construction and snow removal.

As the global economy growth rate is forecasted to slow down, especially in China, which is one of the largest mark kets of OTR Tires; the market of OTR Tires in the following five years seems will not enjoy that fast growth. But as the market in India, Africa and some other developing regions is also promising, the industry of OTR tires is forecasted to recovery after 2016, though it will not grow as fast as what happens before 2012.

Currently, the global production capacity of OTR Tires is much higher than what is really needed. The capacity utilization rate of OTR tires manufacturers is not satisfactory. And 

as there are more than a hundred manufacturers of OTR Tires worldwide, the market competition is quite fierce. But it is forecasted that the number of OTR Tires worldwide may be reduced, as some enterprises may not be able to struggle to survive.

The global OTR Tires market is valued at 8410 million USD in 2017 and is expected to reach 12200 million USD by the end of 2025, growing at a CAGR of 4.8% between 2018 and 2025.