Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) — The “United States OTR Tire Market, By Region, Competition, Forecast & Opportunities, 2019-2029F” report has been added to ResearchAndMarkets.com’s offering.
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, rising at a CAGR of 6.30%
The United States Off-the-Road (OTR) tire market is experiencing significant growth, driven by the expanding construction, mining, and agricultural sectors. As infrastructure projects increase across the nation, the demand for heavy machinery equipped with durable OTR tires has risen steadily. The agriculture industry, with its reliance on high-performance tractors, harvesters, and other machinery, contributes substantially to the market. Similarly, the mining sector’s need for robust, long-lasting tires capable of enduring extreme conditions bolsters market growth. Innovations in tire design, including enhanced traction, longer lifespan, and greater efficiency, further enhance the market’s trajectory.
Key trends shaping the OTR tire market include the rise in demand for radial tires, which offer improved durability, comfort, and fuel efficiency compared to bias tires. The growing adoption of automation and advanced machinery in industries like mining and agriculture also fuels the need for specialized tires designed for heavy-duty operations. Technological advancements, such as the integration of real-time tire…
