MarkNtel Advisors recently published a detailed industry analysis of the GCC Off the Road (OTR) Tire Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
GCC Off the Road (OTR) Tire Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The GCC Off the Road (OTR) Tire Market size is estimated to grow at a CAGR of around 4.2% during the forecast period, i.e., 2024–30.
What are the major Driver the GCC Off the Road (OTR) Tire industry?
Surging Residential & Commercial Infrastructure Projects to Augment OTR Tire Demand – Rapid urbanization and population expansion have increased demand for new housing, commercial spaces, and infrastructure development projects in the Gulf Cooperation Council (GCC) countries. Additionally, government efforts such as Saudi Vision 2030, UAE Vision 2021, and Qatar National Vision 2030, which prioritize infrastructure development, have resulted in a surge in construction projects across the region. For Instance,
- In 2022, the Dubai Municipality announced the construction of a housing structure for about 8,000 people in the city under a project named Al Quoz Creative Zone.
With increased construction and infrastructure development activities, the need for construction vehicles such as road rollers, bulldozers, and other machinery that runs on OTR tires is surging significantly. Owing to the tough and rough terrain on these construction sites, the OTR tires suffer frequent wear and tear and exterior damage, necessitating tire changes. As a result, with the increase in construction, demand for OTR tire replacements increases, consequently boosting the revenue growth of the GCC Off the Road (OTR) Tire Market.
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What segments define the GCC Off the Road (OTR) Tire market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
- By Type of Equipment
- Earth Moving Equipment – Market Size & Forecast, 2019-2030 (Thousands)
- Excavator– Market Size & Forecast, 2019-2030 (Thousands)
- Grader– Market Size & Forecast, 2019-2030 (Thousands)
- Loader– Market Size & Forecast, 2019-2030 (Thousands)
- Bulldozer– Market Size & Forecast, 2019-2030 (Thousands)
- Road Roller– Market Size & Forecast, 2019-2030 (Thousands)
- Material Handling Equipment– Market Size & Forecast, 2019-2030 (Thousands)
- Forklifts– Market Size & Forecast, 2019-2030 (Thousands)
- Agriculture Equipment
- Tractor– Market Size & Forecast, 2019-2030 (Thousands)
- Combines– Market Size & Forecast, 2019-2030 (Thousands)
- Others (Harvester, etc.) – Market Size & Forecast, 2019-2030 (Thousands)
- Earth Moving Equipment – Market Size & Forecast, 2019-2030 (Thousands)
- By Type of Tire
- Radial– Market Size & Forecast, 2019-2030 (Thousands)
- Bias– Market Size & Forecast, 2019-2030 (Thousands)
- By Demand Type
- OEMs– Market Size & Forecast, 2019-2030 (Thousands)
- Aftermarket– Market Size & Forecast, 2019-2030 (Thousands)
- By Price Category
- Budget– Market Size & Forecast, 2019-2030 (Thousands)
- Premium– Market Size & Forecast, 2019-2030 (Thousands)
- Economy– Market Size & Forecast, 2019-2030 (Thousands)
- By Tire Size
- Tire Size 1– Market Size & Forecast, 2019-2030 (Thousands)
- Tire Size 2– Market Size & Forecast, 2019-2030 (Thousands)
- Tire Size 3– Market Size & Forecast, 2019-2030 (Thousands)
- Tire Size 4– Market Size & Forecast, 2019-2030 (Thousands)
- Tire Size 5– Market Size & Forecast, 2019-2030 (Thousands)
- By End Users
- Construction– Market Size & Forecast, 2019-2030 (Thousands)
- Industrial– Market Size & Forecast, 2019-2030 (Thousands)
- Mining– Market Size & Forecast, 2019-2030 (Thousands)
- Agriculture– Market Size & Forecast, 2019-2030 (Thousands)
- Ports– Market Size & Forecast, 2019-2030 (Thousands)
According to report, Out of them all, the ports segment is leading the market and is anticipated to hold a major share of the market during the forecast period, owing to increased investments in port expansion and an increase in cargo traffic.
- By Sales Channel
- Direct Sales– Market Size & Forecast, 2019-2030 (Thousands)
- Online– Market Size & Forecast, 2019-2030 (Thousands)
- Multi Brand & Exclusive Outlets– Market Size & Forecast, 2019-2030 (Thousands)
According to report, Sales through multi-brand and exclusive outlets have been steadily increasing, as people prefer to buy tires from these stores since they offer a diverse selection of options from brands such as Goodyear, Bridgestone, and others at a single point of sale.
Explore the Complete GCC Off the Road (OTR) Tire Market Analysis Report –
https://www.marknteladvisors.com/research-library/gcc-otr-tire-market.html
Geographical Analysis: GCC Off the Road (OTR) Tire Market
- By Country
- The UAE
- Saudi Arabia
- Kuwait
- Qatar
- Oman
- Bahrain
GCC Off the Road (OTR) Tire Market Share & Competitive Landscape:
The GCC Off the Road (OTR) Tire Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the GCC Off the Road (OTR) Tire Market are:
- Pirelli Tyre S.p.A.
- Goodyear Middle East & Africa
- Bridgestone MEA
- Continental Middle East DMCC
- Titan International Inc.
- Michelin
- The Yokohama Rubber Co., Ltd.
- JK Tire & Industries Ltd
- Trelleborg
- Triangle Group
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Questions Addressed in this Study
1.What factors are driving the GCC Off the Road (OTR) Tire Market growth?
2.How is the GCC Off the Road (OTR) Tire Market expected to grow over the next five years?
3.What are the key insights into the current trends in the GCC Off the Road (OTR) Tire Market?
4.What is the current size of the GCC Off the Road (OTR) Tire Market, and how is it projected to change in the future?
6.What is the future outlook for the GCC Off the Road (OTR) Tire Market in terms of technological advancements and market expansion?
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