Europe & CIS OTR Tire Market is set to Reach $ 3 Billion in 2017
Growing construction, mining and agriculture
industries and continuous expanding infrastructure and industrial sectors to
drive Europe & CIS OTR tire market through 2022
According to TechSci Research report, “Europe & CIS OTR Tire Market By Vehicle Type, By
Country, Competition Forecast and Opportunities,
2022”, the OTR tire market in Europe is estimated
to reach $ 3 billion in 2017. On the basis of vehicle type, Europe & CIS OTR tire
market has been broadly classified into three categories, namely, Mining,
Construction & Industrial Equipment; Agriculture Vehicles; and Others. Among
these categories, mining, construction & industrial equipment dominated the
region’s OTR tire market in 2016, and the segment is expected to maintain its
dominance over the next five years as well.
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Growing per capita income and continuous launch
of new OTR vehicle models are some of the key factors expected to drive Europe &
CIS OTR tire market during forecast period. Demand
for OTR tires is growing with large-scale development activities in construction,
mining and industrial sectors in Europe & CIS region. Moreover, government support in the form
of tax subsidies & incentive policies for infrastructure development and
megaprojects is expected to aid the region’s OTR tire market during 2017 – 2022.
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“Over the past few years, demand for OTR
tires across the region witnessed moderate growth owing to rising demand for
OTR vehicles for mining and construction activities. This has been fueling OTR
tire sales in the region. Moreover, this trend is expected to continue in
coming years as well.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Europe & CIS OTR
Tire Market By Vehicle Type, By Country, Competition Forecast and Opportunities, 2022” has analyzed the potential of Europe
& CIS OTR tire market, and provides information and statistics on market
structure, imports and trends. The report intends in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. The report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by the industry.
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