According to a recent study titled ‘North America Off the Road (OTR) Tire Market Analysis, 2020’, available with Market Study Report, North America off the road tire market is anticipated to accrue notable returns during 2020-2025, registering a CAGR of 6.42% throughout.
 

As per the findings of the report, North America off the road tire market is witnessing a strong growth, attributable to surging use of off-road vehicles due to robust growth of the construction industry, boasting investments exceeding USD 1.2 trillion as of 2019. Rapid expansion of road and highways, expansion of hostels and leisure industry, and establishment of power plants are the major areas necessitating the use off-road, which are consequently raising the demand for off the tires.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3114625/
 

North America off the road tire market from radial segment is anticipated to grow tremendously in the upcoming years, creditable to increasing R&D of radial tires for enhancing grip across all terrain. The adoption of these tires are comparatively higher in the US as compared to Canada and Mexico.
 

Based on season, North America off the road tire market is divided into all season, winter, and summer, among which, the foremost segment leads the industry growth. However, the demand for winter OTR tires is rising in the northern parts of the region but the application remains limited.
 

In terms of rim diameter, the industry is categorized into 20”-25”, 26”-35”, 36”-48, above 48”. Trusted records cite that OTR tires with rim size between 26”-35” and 36”-48 grabbed significant industry share in 2019 and are likely to witness strong demand in the coming years.
 

The vehicle segmentation of North America off the road tire market includes earthmoving & construction equipment (backhoe loaders, excavator, crawler loaders, motor graders, bulldozers, dump trumps), agricultural vehicles (combined harvester, tractors, farm trucks, others), and material handing (forklifts, cranes, tippers, others).
 

Based on sales channel, the market is divided into authorized dealers or distributors, exclusive stores and others. Speaking of the price category, the industry is fragmented into budget, economy, and premium.
 

With respect to country geographical bifurcation, United States, Mexico, and Canada are the key contributors to the overall market remuneration. Among these countries, US accounted for the highest sales of OTR tires and is likely to follow a similar growth trend over the forecast period.
 

Key players influencing North America off the road tire market trends are Triangle Group, Trelleborg AB, Yokohama Rubber Co., Toyo Tire Corp., Kumho Tire Co., Inc., Zhongce Rubber Group Co., Ltd., Continental AG, Bridgestone Corp., Goodyear Tire and Rubber Co., Michelin Group.