GCC Off the Road (OTR) Tire Market to Grow at 4.2% CAGR by 2030

Overview of the GCC Off the Road (OTR) Tire Market: Key Statistics and Trends:

According to the latest report by MarkNtel Advisors, titled “GCC Off the Road (OTR) Tire Market By Type of Equipment (Earth Moving Equipment, Material Handling Equipment, Agriculture Equipment), By Type of Tire (Radial, Bias), By Demand Type (OEMs, Aftermarket), By Price Category (Budget, Premium, Economy), By Tire Size (Tire Size 1, Tire Size 2, Tire Size 3, Tire Size 4, Tire Size 5), By End Users (Construction, Industrial, Mining, Agriculture, Ports), By Sales Channel (Direct Sales, Online, Multi Brand & Exclusive Outlets) and others, 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. The report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.

GCC Off the Road (OTR) Tire Market Growth and Scope:

Base Year: 2023

Forecast Period: 2024-30

Historical Data: 2019-22

CAGR (2024-30): 4.2%

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The GCC Off the Road (OTR) Tire Market Opportunity:

Increasing Government Initiatives for the Agriculture Sector Offering Lucrative Opportunities – Governments across the region are fostering various initiatives to promote agricultural production in the region. The shifting focus of the GCC countries towards self-sufficiency in food production is leading them to launch various programs and initiatives for boosting the agriculture sector. The government bodies have been providing substantial investments in modernizing agricultural infrastructure, including irrigation systems, greenhouses, and storage facilities, to increase productivity and mitigate the impact of water scarcity on crop yields.

A Comprehensive Analysis of Leading Companies of GCC Off the Road (OTR) Tire Market by MarkNtel Advisors:

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
Others

Key GCC Off the Road (OTR) Tire Market Segmentation:

Explore Our Comprehensive Study: https://www.marknteladvisors.com/research-library/gcc-otr-tire-market.html

-By End Users

Construction
Industrial
Mining
Agriculture
Ports

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
Online
Multi Brand & Exclusive Stores

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.

-By Type of Equipment

Earth Moving Equipment – Market Size & Forecast, 2019-2030 (Thousands)
Material Handling Equipment– Market Size & Forecast, 2019-2030 (Thousands)
Agriculture Equipment

-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)

Geographical Analysis

-By Country

Saudi Arabia
The UAE
Qatar
Kuwait
Bahrain
Oman

The UAE is expected to hold a significant share of the GCC Off the Road (OTR) Tire Market in the coming years owing to the UAE's strategic geographic location as a global trade hub, which fosters easy access to international markets and facilitates efficient import and export of OTR tires.

Key Reports Highlights:

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

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Key Advantages of the Report by MarkNtel Advisors:

Accurate Revenue Projections: The report provides precise revenue estimates for the market and its key sub segments, benefiting both market leaders and new entrants.
Strategic Insights for Stakeholders: By understanding the competitive landscape, stakeholders can strategically position their businesses and develop effective go-to-market strategies.
Comprehensive Market Dynamics Analysis: The report offers valuable insights into the key drivers, restraints, challenges, and opportunities within the market, helping stakeholders make well-informed decisions.

Note: If you need additional information not included in the report, we can customize it to suit your requirements.

About Us –

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 4.20+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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