The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Southeast Asia Off the Road (OTR) Tire Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Southeast Asia Off the Road (OTR) Tire Industry (2024-2030):
According to the latest report, The Southeast Asia Off the Road (OTR) Tire Market size is estimated to grow at a CAGR of around 4.3% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the Southeast Asia Off the Road (OTR) Tire industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2019-22
- Base Year: 2023
- Forecast Period: 2024-30
- CAGR: 4.3%
What are the major Challenge Facing the Southeast Asia Off the Road (OTR) Tire industry?
High Competition from Retreaded OTR Tries to Impede Market Growth Development – The increasing awareness of environmental concerns and regulations regarding tire disposal and waste among Southeast Asian countries such as Thailand, Malaysia, etc. has surged the production of retreaded tires in the region. Moreover, the presence of retreaded tire manufacturers such as Lean Wah Tyre Retreads, Indra Machinery, etc. providing a vast variety of OTR tires to consumers further boosts the growth of retreaded tires in the region. Additionally, the cost of the retreaded OTR tires is comparatively less than the original OTR tires manufactured by market players like Bridgestone Michelin. Therefore, the end-users with financial constraints are inclined towards low-priced tires, impeding the market growth.
Further, end-users are increasingly seeking conveniently accessible options. Therefore, there is a growing preference among end users to use retreaded tires for their OTR vehicles, negatively impacting the industry's growth development.
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Southeast Asia Off the Road (OTR) Tire Market Segmentation
The Southeast Asia Off the Road (OTR) Tire Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Type of Equipment
- Earthmoving 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)
- 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)
- By Sales Channel
- Direct Sales– Market Size Forecast, 2019-2030 (Thousands)
- Online– Market Size Forecast, 2019-2030 (Thousands)
- Multi Brand Stores – Market Size Forecast, 2019-2030 (Thousands)
- Exclusive Outlets– Market Size Forecast, 2019-2030 (Thousands)
- By Country
- Malaysia
- Indonesia
- Singapore
- Cambodia
- Vietnam
- Thailand
- Philippines
- Rest of Southeast Asia
As per the regional aspect, the Southeast Asia Off the Road (OTR) Tire Market is expected to be dominated by North America by capturing the potential market share.
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Top Companies in the Southeast Asia Off the Road (OTR) Tire Market
Pirelli Tyre S.p.A., Goodyear Southeast Asia Pvt. Ltd., Bridgestone Tire Co., Ltd., Continental AG, Titan International Inc., The Yokohama Rubber Co., Ltd., Trelleborg Thailand Company Limited, Triangle Group, Balkrishna Industries Limited (BKT), MRF tires, and others
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