TA News Bureau

What we see on the roads is not really the whole story about tyres and the vehicles that run on them. A large part of the global industry is occupied, and actually run, by Off The Road (OTR) Tyres, which also make up the Off Highway Tyres (OHT). They play a major role in the economic growth of nations as they engage in sectors key to development, as in Agriculture, Industry – like mining, construction etc, and Infrastructure developments. The growth of OTR tyre industry thus reflects to a large extent the status of a country’s economic growth and development.

The size of the industry is as large as the size of some of the OTR tyres – huge. Naturally, the technology that goes into the making of such tyres is also huge and complicated. It calls for a lot more investment than, say, Passenger Car tyres or CV tyres. Higher investment and delayed returns are the core features of OTR segment. Only those tyre manufacturers who are focused on the long-term growth of the segment enter this market.

India and China hold the largest share of global OTR tyre market. According to a Smithers Rapra study report, says the global OTR tyre market, which is estimated to be nearly 3.9 million tonnes in 2018 valued at over $26.1 billion, is projected to grow in volume and value terms through 2024.

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