OTR Tire Market Set to Grow at 8% CAGR till 2021
Anticipated growth in
mining, agriculture, infrastructure and logistics sectors to drive global OTR
tire market through 2021
According to TechSci Research
report, “Global OTR Tire Market By Vehicle
Type, By Demand Category, By Region, Competition Forecast and Opportunities, 2011 - 2021”, the global OTR tire market is projected to grow
at a CAGR of 8% during 2016-2021. Growth in the market is anticipated on account of global
construction industry forecast to increase at a CAGR of more than 7% over the
next five years, coupled with continuing growth being witnessed in the infrastructure
sector, globally.
Browse 103 market data Tables and 182 Figures
spread through 441 Pages and an in-depth TOC on "Global OTR Tire Market"
http://www.techsciresearch.com/report/global-otr-tire-market-by-vehicle-type-mining-construction-and-industrial-equipment-agriculture-vehicles-and-others-by-demand-category-oem-vs-replacement-by-region-competition-forecast-and-opportunities-2011-2021/637.html
During 2011-2015,
the global OTR tire market grew at a moderate pace owing to the Eurozone crisis
in 2012 and decline in global oil prices during 2013 and 2014. Consequently, a
decline in the production and sales of OTR vehicles was also registered during the
same period. However, the production and sales of OTR vehicles are anticipated
to grow at a healthy rate over the next five years, thereby positively
influencing demand for OTR tires in both OEM as well as replacement tire
segments, globally.
Download Sample Report @ http://www.techsciresearch.com/sample-report.aspx?cid=637
Customers can
also request for 10% free customization on this report.
In 2015, mining, construction & industrial
equipment captured the largest share in the global OTR tire market, due to growing
construction, industrial and infrastructure activities in various countries
across the world. In 2015, Asia-Pacific
grabbed more than half of the total OTR tire sales, globally, with India, China, Japan, Australia, Malaysia and South Korea
being the leading OTR tire markets in the region. Few of the major companies
operating in global OTR tire market include Yokohama, Pirelli, Alliance, BKT,
Continental, Goodyear, and Bridgestone, among others.
“According to the Food &
Agriculture Organization (FAO), the world average per capita food consumption stood
at around 3,000 kcal/person/day in 2015, and this figure is projected to grow
in the coming years. In order to address the growing demand for food, governments
in various countries are focussing towards modernising agriculture sector, which
is expected to augment demand for agriculture vehicles as well as OTR tires
over the course of next 5-10 years.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global OTR Tire Market By Vehicle Type, By Demand Category, By Region,
Competition Forecast and Opportunities, 2011 – 2021” has analyzed the potential
of global OTR tire market, and provides statistics and information on market
sizes, shares and trends. The report will suffice in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by the industry.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium market research
reports. Serving 700 global clients with more than 600 premium market research studies,
TechSci Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research based consulting assignments in high growth and
emerging markets, leading technologies and niche applications. Our workforce of
more than 100 fulltime Analysts and Consultants employing innovative research
solutions and tracking global and country specific high growth markets helps
TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]