Global OTR tire market to grow at 8% CAGR

摘要

The global off-the-road (OTR) tire market grew steadily during 2011-2015 despite negative factors, such as the Eurozone crisis in 2012 and slump in oil prices, according to a report from New Age TechSci Research Pvt. Ltd. Over the last few years, construction and infrastructure sectors across the globe have been registering healthy growing rate, driving up demand for OTR vehicles as well as OTR tires, the research firm said in its summary of the report. Moreover, increasing use of heavy machineries and equipment in agriculture, mining and industrial sectors has further swelled the demand for agricultural, mining and industrial tires, added TechSci.