Africa Off the Road (OTR) Tire Market Analysis, 2020

Africa Off the Road (OTR) Tire Market Analysis, 2020 research report depicts a deep dive market analysis of statistics of Africa Off the Road (OTR) Tire market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.

According to this research report “Africa Off the Road (OTR) Tire Market Analysis, 2020”, the Africa Off the Road (OTR) Tire market is anticipated to grow at a CAGR 6% during 2021-26. The growth of the market is accredited to rising inclination towards, increasing government investment on development of urban areas and surging infrastructure development activities along with launch of new truck tire in the market. Besides these, burgeoning demand for radial tire among agriculture industry, escalating government subsidies for farm equipment, and increasing investment in new radial tires plant are some of the factor placing a positive impact toward the growth of the market in the forecast period.

The COVID-19 pandemic adversely impacted the market of OTR tire in Africa due to disruption in supply chain, temporary shutdown of the manufacturing facilities and halt on various construction activities.

Agricultural Vehicle Acquired the Significant Market Share

Based on Type of Vehicle, Agricultural Vehicle acquired the significant market share in the Africa Off the Road (OTR) tire market in 2019. Tractors accounted for the largest market share in the agricultural vehicle segment. This is due to rising government investment in agricultural mechanization, escalating number of medium-scale farmers owning tractors and increasing government subsidy rates on tractor. Moreover, snowballing demand for agricultural produce and significant rise in farm area under crop production are anticipated to strongly contribute towards the growth of Off the Road (OTR) Tire for online gaming in the coming years as stated by the research report “Africa Off the Road (OTR) Tire Market Analysis, 2020”.

According to the author, the key players with a considerable market share in the Africa Off the Road (OTR) Tire market include Continental Aktiengesellschaft, Compagnie Générale des Établissements Michelin, Bridgestone Corporation, The Yokohama Rubber Co., Ltd, Sumitomo Rubber Industries, Ltd, Toyo Tire & Rubber Company, Hangzhou Zhongce Rubber Co. Ltd., Triangle Tyre Co. Ltd., CEAT Limited etc.

Key Questions Answered in the Market Research Report:

1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Africa Off the Road (OTR) Tire Market?
2. What is the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations in the Africa Off the Road (OTR) Tire Market?
4. Who are the key competitors or market players and how they perform in Africa Off the Road (OTR) Tire Market based on competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Africa Off the Road (OTR) Tire Market study?