OTR Tires Market Size, Share & Growth Forecast to 2032

 The global OTR tires market is projected to grow from USD 3.66 billion in 2025 to USD 5.58 billion by 2032 at a CAGR of 6.2% during the forecast period. Growing infrastructure development activities, increased mining activities, farm mechanization, and growing investments in new ports and extension of existing ports are expected to drive the demand for off-highway equipment, in turn driving the OTR tires market in the coming years.

The mold cure process is preferred for OTR tire retreading activity. It is the largest and most rapidly adopted retreading process, as it provides superior balance, uniformity, and performance characteristics with a close match to new tires. This process delivers a retreaded tire with increased heat dissipation, uniform wear patterns, and enhanced load-carrying capacity. In addition, mold cure technology achieves the cosmetic appearance of new tires and benefits fleet operators with significant cost reduction compared to the purchase of new tires. Due to this, this process is particularly suited for large, heavy-duty tires used in construction, mining, and off-road applications. Retreading companies in developed regions like North America and Europe predominantly use the mold cure process and focus more on advanced computerized inspection systems and advanced rubber compounds to provide high-quality retreads for off-highway vehicles. Alternatively, players in the Asia Pacific market are shifting from pre-cure technology to mold cure technology as infrastructure growth speeds up. Initially, retreading of tires was done by local players; however, considering the massive potential in the retreading tires market, Continental AG (Germany), Michelin (France), and Pirelli (Italy) have established their respective business units for retreading. Hence, the increased deployment of this retreading approach enables regional manufacturers to increase business revenue by reducing the turnaround time during the retreading process.

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Radial tires are the fastest-growing tire type segment for construction equipment. Radial OTR tires offer superior load-carrying capacity, durability, and efficiency compared to bias tires, making them ideal for grading, earthmoving, and construction operations. Their advanced design reduces heat generation during long-distance hauls at a high speed, enhances traction, and minimizes fuel consumption. These tires increase the road-to-surface contact area, imparting improved stability to the vehicle. They also absorb shocks and bumps efficiently due to their flexibility, making them suitable for vehicles designed for off-road areas. These features align with the performance needs of modern construction equipment, supporting safer and more productive practices. While bias tires have held a larger share in some of the equipment categories within cost-sensitive markets like the Asia Pacific due to their affordability, the demand for radial tires will flourish as industries prioritize efficiency and sustainability. Chinese manufacturers' low-cost radial tires further accelerate this shift in the construction equipment segment.

Rigid dump truck is the fastest-growing equipment type segment of the OTR tires market.

Rigid dump trucks, or haul trucks, are built to move a massive amount of materials across rugged terrain in mining and construction. These rigid dump trucks are mostly offered with radial tires, designed to dissipate heat, and are crucial for heavy-duty applications that involve high loads and intense operating conditions. Rigid dump trucks are typically offered with rim sizes ranging from 320/85R24 to 800/70R38. The demand for these trucks is increasing due to large-scale mining (critical minerals for EV batteries) and infrastructure projects globally, particularly in regions like Asia Pacific, Latin America, Australia, and Africa. Due to the increase in infrastructure and mining projects, high-capacity rigid dump trucks, such as Caterpillar 797 and Komatsu HD785, are used in many projects that rely on large-diameter, heavy-duty radial OTR tires.

Key Market Players:

Key players in the OTR tires market are Continental AG (Germany), Bridgestone Corporation (Japan), Michelin (France), Pirelli (Italy), The Yokohama Rubber Co., Ltd. (Japan), Trelleborg AB (Sweden), Balkrishna Industries Limited (India), Magna Tyres (Netherlands), and The Carlstar Group, LLC. (US).

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