North America OTR Tire Market to Grow at 6.50% during 2017 – 2022
Increasing per capita
income, growing construction and agriculture industries, and continuous
infrastructure-based developments to drive North America OTR tire market
through 2022
According to TechSci Research report, “North
America OTR Tire Market By Vehicle Type, By Country,
Competition Forecast and Opportunities, 2022”, the OTR tire market in North America is forecast to grow
at a CAGR of around 6.50% during 2017 – 2022. Garnering support from surging
demand for construction equipment to meet growing infrastructural developments
in North America, the demand for OTR tires for construction vehicles is
increasing in the continent. Moreover, owing to projects such as National
Infrastructure Plan of Mexico, America 2050 and New Building Canada Plan, the
government of respective countries are investing heavily in cooperation with
private partners to build a sustainable infrastructure in the country. This, in
turn, is contributing to growing demand for OTR tires in the region.
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https://www.techsciresearch.com/report/north-america-otr-tire-market-by-vehicle-type-mining-construction-industrial-equipment-agriculture-vehicles-and-others-by-country-competition-forecast-and-opportunities/1109.html
Growing
mechanization of agriculture farms is also aiding the region’s OTR tire market.
In terms of agriculture output, North American countries are considered
advanced in comparison to other countries across the globe. Growing output
coupled with rapid mechanization of farms are also boosting the demand for OTR tires
in North America.
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“North American countries are among the
major mineral producing countries of the world, and have considerable share in
global mineral production. Therefore, the demand for mining equipment tires in
this region is high, and the same trend is expected to continue over the next
five years as well.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“North
America OTR Tire Market By Vehicle Type, By Country, Competition Forecast and
Opportunities, 2022” has
analyzed the potential of North America 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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