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Dublin, April 15, 2021 (GLOBE NEWSWIRE) -- The "OTR Tires Market based on Types (Radial Tires and Bias Tires), Vehicle Types (Loaders, Dump Truck, Graders, Cranes, Dumpers, Tractors Forklifts, and Others), End-Use (Construction & Mining, Industrial, Agricultural and Others) and Geography - Global Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering. Increasing preference for utilizing advanced and modern equipment in agricultural activities has significantly favored tractors' adoption, which boosts the OTR tires market demand. With the rising population globally, food production has increased, which is a factor fueling the demand for tractors and agriculture equipment vehicles, therefore driving the market growth of OTR tires. The OTR Tires Market is expected to grow at the rate of 3.4% CAGR by 2026. The OTR tires or off-the-road tires are made up of resistant compounds to provide proper grip on rough surfaces, including mud, stones, or sand. The tires have in-depth and strong treads which can be deployed to any vehicle. These tires are mainly designed to be used in extreme situations and provide safety, high performance, and quality. In the mining and construction areas, the surface is uneven and rough since the OTR tires are considered compatible with the vehicles. However, the vast expenditure incurred in research and development is likely to hamper the OTR tires market. OTR Tires Market based on Types Radial TiresBias Tires OTR Tires Market based on Vehicle Types LoadersDump TruckGradersCranesDumpersTractorsForkliftsOthers OTR Tires Market based on End Use Construction and MiningIndustrialAgriculturalOthers OTR Tires Market based on Geography North AmericaEuropeAsia PacificRest of the World As in the market for types, the market is furcated into radial tires and bias tires. The radial tires are mainly used and dominate the market due to their benefits, including higher service life than bias tires, improved handling, and improved ride. Moreover, the radial type of tires has a significant application in farming. It can increase crop production by minimizing compaction, which further boosts the radial tires segment's growth.The market is segmented into loaders, dump trucks, graders, cranes, dumpers, tractors, forklifts, and others based on the vehicle types. Among all segments, the tractors segment is expected to hold the highest share in the market. There is an increasing demand for the tractor in the agriculture sector as these tires reduce soil damage and yield-robbing.Based on the end-use segment, the market is bifurcated into construction and mining, industrial, agricultural, and others. The construction and mining segment is having a significant share in the OTR tires market growth. This is because of an increasing number of construction and advancements in construction and mining equipment such as automation and electrification, which have supported the fleet operation to use equipment in many shifts.Based on the geographical analysis, the Asia Pacific region will have the highest share in the market. The significant share is due to the increased purchase of off-road vehicles in this region's few major countries. Moreover, in few countries such as China and India, agriculture is the backbone of the economies since agriculture machinery procurement is also a significant factor to support the growth of the market in this region.The rapid increase in off-road vehicles such as tractors, agricultural machinery, and others worldwide is projected to fuel the global market growth rate. The rise in heavy vehicle usage in the agriculture and construction sectors also influences the market's growth. The deployment of tire monitoring systems among the commercial sectors also escalates the OTR tires market growth rate. The key vendors operating in the OTR tires market are Bridgestone Corporation MICHELIN, Prometeon Tyre Group SRL, YOKOHAMA Rubber CO. Ltd., China Rubber Tire & Rubber Co. Ltd, The Goodyear Tire & Rubber Company, Apollo Tyres Ltd., Sumitomo Tires, Continental AG, BKT Tire, Qingdao Rhino Tyre Co., Ltd., and Triangle Group Co. Ltd.As observed, majorly the OTR tires have a prominent role in the agricultural and construction & mining sectors since agriculture is the backbone of the few countries and owing to the increasing demand for construction and mining from the developing countries. This report for the OTR tires market includes the complete quantitative analysis of the market, which helps the shareholders capitalize on the present market trends.Again, the research will help understand the market vendors' capabilities and strategies such as innovations, mergers and acquisitions, and expansions.This research of the OTR tires market also includes comprehensive insights regarding the technical innovations in the products.Additionally, this research will elucidate the OTR tires market's geographical analysis to understand the market penetration across the world. Key Topics Covered: 1. Executive Summary2. Industry Outlook2.1. Industry Overview2.2. Industry Trends3. Market Snapshot3.1. Market Definition3.2. Market Outlook3.2.1. Porter Five Forces3.3. Related Markets4. Market characteristics4.1. Market Overview4.2. Market Segmentation4.3. Market Dynamics4.3.1. Drivers4.3.2. Restraints4.3.3. Opportunities4.4. DRO - Impact Analysis5. Types: Market Size & Analysis5.1. Overview5.2. Radial Tires5.3. Bias Tires6. Vehicle Types: Market Size & Analysis6.1. Overview6.2. Loaders6.3. Dump Truck6.4. Graders6.5. Cranes6.6. Dumpers6.7. Tractors6.8. Forklifts6.9. Others7. End-Use: Market Size & Analysis7.1. Overview7.2. Construction and Mining7.3. Industrial7.4. Agricultural7.5. Others8. Geography: Market Size & Analysis8.1. Overview8.2. North America8.3. Europe8.4. Asia Pacific8.5. Rest of the World9. Competitive Landscape9.1. Competitor Comparison Analysis9.2. Market Developments9.2.1. Mergers and Acquisitions, Legal, Awards, Partnerships9.2.2. Product Launches and execution10. Vendor Profiles10.1. Bridgestone Corporation MICHELIN10.1.1. Overview10.1.2. Financial Overview10.1.3. Product Offerings10.1.4. Developments10.1.5. Business Strategy10.2. Prometeon Tyre Group S.R.L.10.2.1. Overview10.2.2. Financial Overview10.2.3. Product Offerings10.2.4. Developments10.2.5. Business Strategy10.3. YOKOHAMA Rubber CO. Ltd.10.3.1. Overview10.3.2. Financial Overview10.3.3. Product Offerings10.3.4. Developments10.3.5. Business Strategy10.4. China Rubber Tire & Rubber Co. Ltd10.4.1. Overview10.4.2. Financial Overview10.4.3. Product Offerings10.4.4. Developments10.4.5. Business Strategy10.5. The Goodyear Tire & Rubber Company10.5.1. Overview10.5.2. Financial Overview10.5.3. Product Offerings10.5.4. Developments10.5.5. Business Strategy10.6. Apollo Tyres Ltd.10.6.1. Overview10.6.2. Financial Overview10.6.3. Product Offerings10.6.4. Developments10.6.5. Business Strategy10.7. Sumitomo Tires10.7.1. Overview10.7.2. Financial Overview10.7.3. Product Offerings10.7.4. Developments10.7.5. Business Strategy10.8. Continental AG10.8.1. Overview10.8.2. Financial Overview10.8.3. Product Offerings10.8.4. Developments10.8.5. Business Strategy10.9. BKT Tire10.9.1. Overview10.9.2. Financial Overview10.9.3. Product Offerings10.9.4. Developments10.9.5. Business Strategy10.10. Qingdao Rhino Tyre Co., Ltd.10.10.1. Overview10.10.2. Financial Overview10.10.3. Product Offerings10.10.4. Developments10.10.5. Business Strategy11. Companies to Watch11.1. Triangle Group Co. Ltd11.1.1. Overview11.1.2. Products & Services11.1.3. Business Strategy12. Analyst Opinion13. Annexure13.1. Report Scope13.2. Market Definitions13.3. Research Methodology13.3.1. Data Collation and In-house Estimation13.3.2. Market Triangulation13.3.3. Forecasting13.4. Report Assumptions13.5. Declarations13.6. Stakeholders13.7. Abbreviations For more information about this report visit https://www.researchandmarkets.com/r/eimnei CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900