Construction and Mining to Spur Big Growth in Off the Road Tire Market

According to the latest research, the North America off-the-road (OTR) tire market is poised for big growth over the next few years.

Consider the numbers from TechSci Research: The industry stood at $ 3.22 billion in 2016, and is projected to reach $ 4.68 billion by 2022, exhibiting a compound annual growth rate (CAGR ) of 6.76%, in value terms, during 2017-2022.

Spurring the surge will be large-scale development activities in the region, especially in construction, mining and industrial sectors. Naturally, supportive government policies can help — especially tax subsidies and incentive policies for infrastructure development and megaprojects in North America.

Major players in the OTR tire market segment include Titan Tire Corporation, Cooper Tire & Rubber Company, Bridgestone Corporation, The Yokohama Rubber Co., Ltd, Sumitomo Rubber Industries, Ltd, Toyo Tire & Rubber Company., Triangle Tyre Co. Ltd, CEAT Limited, etc.

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