Press Release

United States OTR Tire Market to Grow with a CAGR of 6.30% Through 2029

The increasing adoption of advanced machinery in the agricultural industry, driven by the need for higher productivity and efficiency, is a key factor in the United States OTR tire market in the forecast period 2025-2029.


According to TechSci Research report, “United States OTR Tire Market - By Region, Competition, Forecast & Opportunities, 2019-2029F”,  the United States OTR Tire market was valued at USD 2.89 Billion in 2023 and is expected to reach USD 4.17 Billion by 2029 with a CAGR of 6.30% during the forecast period.

As sectors like oil and gas and agriculture continue to expand, along with the rising demand for replacement OTR tires, the market is positioned for sustained growth. Advancements in tire technology and the need for durable, cost-effective solutions in these industries will continue to support the market's growth through 2025-2029.

The growth of the United States OTR tire market is driven by the rising demand from the oil and gas industry, where specialized equipment, including drilling rigs, trucks, and heavy-duty machinery, requires durable, high-performance tires to withstand extreme conditions. The sector’s reliance on OTR tires that can handle rough terrain, heavy loads, and long hours of operation is increasing, with tires specifically engineered to endure the harsh environments of oilfields. As exploration and extraction activities intensify, demand for OTR tires to ensure optimal equipment efficiency continues to grow.

The agricultural industry also significantly contributes to OTR tire demand, with mechanization in farming operations becoming increasingly critical for improved productivity. Tires for agricultural machinery, including tractors, plows, and harvesters, must offer specialized features such as reduced soil compaction, better traction on soft ground, and enhanced durability under heavy workloads. With the ongoing expansion of smart farming technologies and autonomous vehicles, the need for advanced OTR tire solutions for agriculture is set to rise. Furthermore, tire replacement needs in agriculture remain high due to the continuous wear from regular usage in demanding field conditions.

The growing emphasis on tire replacements is another key trend in the market. As the performance of OTR tires degrades over time due to extensive usage, industries in construction, mining, and agriculture increasingly rely on replacement tires to avoid costly equipment downtime and maintain productivity. This trend is bolstered by improvements in retreading technologies, which extend tire life and offer cost savings to businesses. However, challenges such as fluctuating raw material prices, high manufacturing costs, and the growing need for specialized tires add complexity to market growth.

 

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The United States OTR Tire Market is segmented into Application, Tire Construction, Demand Category, and Region.

Based on demand category, The United States OTR tire market is segmented by demand category into Original Equipment Manufacturer (OEM) and replacement tires, each serving distinct needs within various industries. OEM tires are essential for newly manufactured equipment in sectors like agriculture, construction, and mining, where high-quality tires are crucial for ensuring optimal performance from the outset. Manufacturers focus on providing tires that align with the specific requirements of new machinery, including durability, traction, and load-bearing capacity. These tires are typically incorporated into the equipment during the manufacturing process, ensuring that the machinery is ready for operation once it reaches the customer.

On the other hand, the replacement tire segment is driven by the continuous need for tire swaps due to wear and tear from regular use. Industries such as construction and agriculture, where machinery runs for extended hours in demanding environments, require frequent tire replacements to maintain equipment efficiency and reduce downtime. The demand for replacement tires is amplified by the wear characteristics of OTR tires, which are subjected to harsh conditions that shorten their lifespan, necessitating timely replacements to avoid operational disruptions.

Based on region, The South region emerged as the fastest-growing for OTR tires in the United States in 2023. This growth is driven by the increasing demand for construction and agriculture machinery as urbanization expands and the agricultural industry continues to evolve. The South's rapid infrastructure development and the adoption of advanced farming techniques have resulted in higher machinery usage, thereby increasing the need for both OEM and replacement OTR tires. The region’s significant agricultural production, combined with a growing construction sector, places greater demand on durable, high-performance tires capable of handling challenging environments. This trend is expected to continue, further contributing to the region's growth in the OTR tire market.


Major market players operating in the United States OTR Tire market are:

  • Bridgestone Americas, Inc.
  • Balkrishna Industries Limited (BKT)
  • Toyo Tire U.S.A. Corp
  • Zhongce Rubber Group Co. Ltd
  • Michelin North America, Inc.,
  • Continental AG
  • Yokohama Tire Corporation
  • Pirelli North America, Inc.
  • Kumho Tire U.S.A. Corp.
  • Mickey Thompson Tires & Wheels


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"As construction and oil and gas activities keep growing across the United States, we’re seeing a bigger need for durable OTR tires. With more infrastructure projects and oil exploration taking place, industries are looking for tires that can handle the tough conditions that come with heavy machinery. Both new tires for equipment and replacement tires are in high demand to keep everything running smoothly. As tire technology improves, we're excited to see how this market continues to grow". said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

"United States OTR Tire Market By Application (Agriculture, Construction, Mining and Material Handling), By Tire Construction (Radial, Bias), By Demand Category (OEM, Replacement), By Region, Competition, Forecast & Opportunities, 2019-2029F”, evaluates the future growth potential of United States OTR Tire market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States OTR Tire market.

 

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