Rise of Off-The-Road (OTR) Tires Fueled by Increased Sales and Use of Off-Highway Vehicles

In the agriculture logistics, mining, and housing industries, off-the-road (OTR) tires are commonly used in larger trucks for off-road operations. Off-the-road (OTR) tires are made to increase stability and performance while providing grip on a variety of unpaved conditions, such as sand, mud, and dirt. The development of the housing sector in emerging nations has spurred demand for construction and material handling equipment, which is likely to drive considerable growth in the off-road tires market. The global Off-the-Road (OTR) Tire market was valued at USD 6,118.6 Million in 2020, growing with 5.2% CAGR during the forecast period, 2021-2027. The rise of the OTR tires industry in recent years has been fueled by increasing demand for tires as a result of increased sales and use of off-highway vehicles. It has also prompted the development of environmentally friendly tires that can be readily recycled. Tire producers are focusing on the creation of eco-friendly or green tires as a result of rigorous emission laws in Europe and America, such as Euro VI and CAFE. Green tires have a reduced ride quality and offer improved safety, grip, durability, mileage, abrasion resistance, and noise reduction. The key players include MICHELIN, Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Sumitomo Tires, YOKOHAMA Rubber CO. Ltd., Nokian Tires, Apollo Tires Ltd., Prometeon Tyre, China Rubber Tire & Rubber Co. Ltd, BKT Tire, Group S.R.L., Titan, Qingdao Rhino Tyre Co., Trelleborg AB, International, Inc., and Triangle Group Co. Ltd. Bridgestone Corporation launched the Bridgestone MasterCore Tire Line in August 2020. The MasterCore Tire Range is resistant to load pressure, heat, separation, wear, and cutting. The MasterCore technology is used to make these tires, which comprises a different type of iron cord and other sophisticated materials, increased adhesion between both the steel and rubber cord, new rubber compositions that are more durable, and strengthened casing for more reliable performance. Read More: https://www.giiresearch.com/report/anvi1057411-off-road-otr-tires-market-covid-impact-analysis-by.html

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