IMARC Group, a leading market research company, has recently releases report titled “Europe Off-the-Road (OTR) Tire Market Report by Vehicle Type (Mining Vehicles, Construction & Industrial Vehicles, Agricultural Vehicles, and Others), Tire Type (Radial Tire, Bias Tire), End Use (OEM, Replacement), Distribution Channel (Online, Offline), Rim Size (Below 24 inches, 24-30 inches, 31-35 inches, 36-39 inches, 40-50 inches, 51-55 inches, Above 56 inches), and Country 2024-2032”. The study provides a detailed analysis of the industry, including the Europe Off-the-Road (OTR) tire market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Europe Off-the-Road (OTR) Tire Market?
The Europe Off-the-Road (OTR) tire market size is projected to exhibit a growth rate (CAGR) of 4.03% during 2024-2032.
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Europe Off-the-Road (OTR) Tire Market Trends and Drivers:
The Europe off-the-road (OTR) tire market is experiencing significant growth, primarily driven by the increasing demand in various sectors, including construction, mining, and agriculture. Moreover, the growing number of Infrastructure and commercial construction projects are further increasing the uptake of OTR tires, which is creating a positive outlook for the overall market. Furthermore, advancements in tire technology, focusing on enhancing durability, efficiency, and environmental sustainability, are also propelling market growth. Additionally, various manufacturers are investing in R&D activities to produce tires that offer better traction, a longer life, and are capable of operating in diverse terrains and harsh conditions.
Apart from this, the emerging preference for eco-friendly materials in tire manufacturing is further propelling the growth of the Europe off-the-road (OTR) tire market. Moreover, the introduction of smart tires equipped with sensors for real-time monitoring of tire health, pressure, and temperature, enabling predictive maintenance and enhancing safety, is also contributing to the market growth. Furthermore, stringent regulations and standards related to safety, emissions, and environmental sustainability in Europe are augmenting the demand for technologically advanced OTR tires that meet these requirements. Additionally, the integration of digital technologies and IoT (Internet of Things) into tire management systems to provide fleet operators with valuable insights for optimizing operations and reducing downtime is anticipated to drive the growth of the Europe off-the-road (OTR) tire market in the coming years.
Leading Companies Operating in the Europe Off-the-Road (OTR) Tire Industry:
- 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
Europe Off-the-Road (OTR) Tire Market Report Segmentation:
The report is organized into distinct sections as follows:
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
- United Kingdom
- Italy
- Spain
- Others
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Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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