According to the business intelligence report titled ‘Middle East Off the Road (OTR) Tire Market Analysis, 2020’ available with Market Study Report, Middle East off the road (OTR) tire market is slated to grow with a compound annual growth rate of 9% during the period 2020-2025.
 

Factors such as soaring prices of crude oil, increasing investments in the construction sector, and favorable government initiatives and funding towards the construction of mega infrastructure aimed at societal development are augmenting the expansion of Middle East off the road (OTR) tire market.
 

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Additionally, rising mining activities in the region, expanding fleet size of Off the Road vehicles coupled with growing focus towards massive construction for economic diversification are stimulating the overall market outlook.
 

Technological advancements in the business sphere, innovative product launches, and strategic alliances by industry participants are furthering business development during the analysis timeframe.
 

Based on vehicle type, Middle East off the road (OTR) tire market is bifurcated into material handling vehicles, agricultural vehicles, and earthmoving & construction equipment.
 

Among these, the earthmoving & construction equipment segment is anticipated to amass lucrative gains through 2025, owing to widespread applications of dump trucks, graders, loaders, and excavators.
 

With regards to sales channel, the overall industry is segmented into authorized dealers/distributors, executive stores, and others. Moving on to price category, the market is divided into premium, economy, and budget.
 

As per the country-level analysis of the report, the market is fragmented into Turkey, Kuwait, Qatar, UAE, Iran, Saudi Arabia, and rest of Middle East.
 

Among these, Turkey, Saudi Arabia, and Iran dominated the overall business in terms of market share and are expected to emerge as major revenue generators over the stipulated timeframe.
 

Leading companies which define the Middle East off the road (OTR) tire industry trends are Triangle Group, Trelleborg AB, Yokohama Rubber Co. Ltd., Toyo Tire Corporation, Kumho Tire Co., Zhongce Rubber Group Co., Ltd., Continental AG, Bridgestone Corporation, Goodyear Tire & Rubber Company, and Michelin.