Europe OTR Tire Market Demand, Analysis, Growth rate, Revenue and Research Report

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According to the latest report by IMARC Group, titled “Europe Off-the-Road (OTR) Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” offers a comprehensive analysis of the industry, which comprises insights on the Europe off-the-road (OTR) tire market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The Europe off-the-road (OTR) tire market to grow at a CAGR of around 4.5% during 2021-2026.

Industry Overview and Application:

OTR tires are deep-treaded tires that are widely utilized with heavy-duty equipment and vehicles. They are designed to lift heavy weights, travel on difficult terrains, including mud, gravel and loose dirt, and perform well in rough conditions. They provide excellent durability, optimum stability, and easy mobility while enhancing the overall vehicular performance. As a result, they are commonly equipped with earthmovers, bulldozers, loaders, graders, military trucks and telescopic handlers.

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Market Trends and Drivers:

The OTR tire market in Europe is primarily driven by significant growth in the construction industry. This is supported by the increasing investments by the governments of numerous countries across the region in infrastructural development projects.
Along with this, significant growth in the mining sector has led to the rising adoption of large haul trucks across the region, which has provided a boost to the market growth.

Other factors, such as the shifting preference from manual farming methods to farm mechanization in an attempt to enhance overall productivity and reduce labor costs across the agriculture sector, are contributing to the market growth further.
Europe Off-the-Road (OTR) Tire Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the Europe off-the-road tire market has been studied in the report with the detailed profiles of the key players operating in the market.

Competitive Landscape with Key Players:

• Balkrishna Industries Limited
• Bridgestone Corporation
• Continental AG
• Double Coin Tyre Group Ltd.
• Michelin
• Nokian Tyres
• Pirelli
• The Goodyear Tyre & Rubber Company
• Trelleborg
• Triangle Tires
• Yokohama Rubber Company Limited

Market Segmentation:

The report has segmented the Europe OTR tire market on the basis of vehicle type, tire type, end use, distribution channel, rim size and country.

Breakup by Vehicle Type:

• Mining Vehicles
• Construction & Industrial Vehicles
• Agricultural Vehicles
• Others

Breakup by Tire Type:

• Radial Tire
• Bias Tire

Breakup by End Use:

• OEM
• Replacement

Breakup by Distribution Channel:

• Online
• Offline

Breakup by Rim Size:

• Below 24 inches
• 24-30 inches
• 31-35 inches
• 36-39 inches
• 40-50 inches
• 51-55 inches
• Above 56 inches

Breakup by Country:

• Germany
• France
• Russia
• United Kingdom
• Italy
• Spain
• Others

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