Smithers study tracks changing demand in OTR tires
Market growth for $34.4 billion OTR tire industry in 2024, according to a new study from Smithers, the worldwide authority for the tire industry.
Key facts
The Smithers methodology
This report is based on extensive primary and secondary research. Primary research consisted of targeted interviews with material suppliers, tire OEMs and experts drawn from key markets. This was supported by secondary research in the form of extensive literature analysis of published data, official government statistics, domestic and international trade organisation data, company websites, industry reports, trade press articles, presentations, and attendance at trade events.
Who should buy the report?
Arthur Mayer has many years of experience in the tire industry, working in a variety of roles at Dealer Tire and as a contract writer and consultant covering a wide range of non-technical tire topics for Smithers and its clients. He was a speaker at Smithers’s recent Traction conferences, covering the fast-emerging area of sensors and intelligent tires.
- The global off-the-road (OTR) tire market is forecast to be worth $34.4 billion in 2024
- With ongoing recovery from recent market disruptions, the market is set to grow by 4.9% CAGR to 2029
- The mining sector will be the lead end-use sector, with value growth forecast at 5.6%.
- How the general shift away from conventional energy will help drive tire demand and development in the key end-use market of mining
- How sustainability is becoming a greater theme in terms of materials, manufacturing, and end-use operations
- How increasing technology and tire management expertise requirements will favour major players
- How the industry will respond to risks posed by global financial and geopolitical challenges.
- This report examines global market performance and opportunities for OTR tires by end use (mining/construction [including ports and handling], agriculture [including forestry] and the industrial sector) and geographic region
- Current and emerging tire technology trends affecting tire design (e.g. size, radial or cross-ply, pneumatic or solid) and performance attributes (e.g. durability, heat resistance, flexion), related value-added technologies (such as sensor and performance monitoring and data analytics) and sustainability (e.g. retreading and recycling) are discussed.
The Smithers methodology
This report is based on extensive primary and secondary research. Primary research consisted of targeted interviews with material suppliers, tire OEMs and experts drawn from key markets. This was supported by secondary research in the form of extensive literature analysis of published data, official government statistics, domestic and international trade organisation data, company websites, industry reports, trade press articles, presentations, and attendance at trade events.
Who should buy the report?
- Tire makers
- Producers of tire materials
- Equipment suppliers to the tire industry
- Industry analysts and researchers
Arthur Mayer has many years of experience in the tire industry, working in a variety of roles at Dealer Tire and as a contract writer and consultant covering a wide range of non-technical tire topics for Smithers and its clients. He was a speaker at Smithers’s recent Traction conferences, covering the fast-emerging area of sensors and intelligent tires.