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The North America OTR tire market reached a volume of 405.0 thousand units in 2021.
We expect the North America OTR tire market to exhibit a CAGR of 6.5% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the region resulting in the temporary closure of numerous manufacturing units for OTR tires.
The rising development of roads, highways, power plants, etc., along with the increasing awareness towards the numerous benefits of OTR tires, such as high heat and rolling resistance, better durability, easy mobility, etc., is primarily driving the North America OTR tire market.
Based on the demand, the North America OTR tire market has been segmented into original equipment market and replacement market. Currently, replacement market holds the majority of the total market share.
Based on the tire size, the North America OTR tire market can be divided into top tire sizes in 24’’-30’’, top tire sizes in 31’’-35’’, top tire sizes in 36’’-39’’, top tire sizes in 40’’-50’’, top tire sizes in 51’’-55’’, and top tire sizes in 56’’-63’’. Among these, top tire sizes in 24’’-30’’exhibits a clear dominance in the market.
Based on the tire type, the North America OTR tire market has been categorized into radial tire and bias tire, where bias tire currently accounts for the largest market share.
What is the breakup of the North America OTR tire market based on the vehicle type?
Based on the vehicle type, the North America OTR tire market can be segregated into mining vehicles, construction and industrial vehicles, agriculture vehicles, and others. Currently, agriculture vehicles exhibit a clear dominance in the market.
On a regional level, the market has been classified into United States and Canada, where United States currently dominates the market.
Some of the major players in the North America OTR tire market include Bridgestone Corporation, CMA, LLC, Continental AG, Cooper Tire & Rubber Company, Titan International, Inc., Michelin, Nokian Tyres plc, The Yokohama Rubber Co, Ltd., Toyo Tire Corporation, Trelleborg AB, Triangle Tyre Co., Ltd, and Pirelli & C. S.p.A.
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