2024 GCC Off the Road (OTR) Tire Market Forecast: Growth Drivers & Outlook to 2030

GCC Off the Road (OTR) Tire Market Report – 2024 Outlook, Trends, Share, Size & Forecast

MarkNtel Advisors has unveiled its latest research report on the GCC Off the Road (OTR) Tire Market, providing an in-depth analysis of market dynamics, growth prospects, and competitive landscape. This report serves as a valuable resource for stakeholders aiming to capitalize on emerging opportunities and navigate potential challenges in the GCC Off the Road (OTR) Tire industry.

GCC Off the Road (OTR) Tire Market Size: 2024 Outlook

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 market growth imputes the surging focus of government bodies in GCC countries on infrastructure development as a means of diversifying their economies away from oil and gas. The government is investing in several construction projects in countries such as Saudi Arabia, the UAE, Qatar, Oman, and other nations. The increase in construction is driving up demand for vehicles such as trucks, excavators, bulldozers, and so on, raising demand for OTR tires. Furthermore, governments are implementing favorable regulations to encourage international investments and leading manufacturers to construct OTR tire production plants to meet the increasing demand, hence fueling market growth & expansion.

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📘 Scope of the Report

• Forecasts till 2030 with year-wise market breakdown
• Geographical and segment-level analysis
• Company profiles and strategic insights
• Key market drivers and restraints
• Analysis of market trends and investment opportunities

Which prominent factor is expected to drive the GCC Off the Road (OTR) Tire Market during 2024-30?

Surging Residential & Commercial Infrastructure Projects to Augment OTR Tire Demand – Rapid urbanization and population expansion have increased demand for new housing, commercial spaces, and infrastructure development projects in the Gulf Cooperation Council (GCC) countries. Additionally, government efforts such as Saudi Vision 2030, UAE Vision 2021, and Qatar National Vision 2030, which prioritize infrastructure development, have resulted in a surge in construction projects across the region. For Instance,

• In 2022, the Dubai Municipality announced the construction of a housing structure for about 8,000 people in the city under a project named Al Quoz Creative Zone.

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GCC Off the Road (OTR) Tire Market Segmentation

By Type of Equipment

• Earth Moving 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 & Exclusive Outlets– Market Size & Forecast, 2019-2030 (Thousands)

By Country

• Saudi Arabia
• The UAE
• Qatar
• Kuwait
• Bahrain
• Oman

Industry Leaders: Who’s Dominating the GCC Off the Road (OTR) Tire Market?

The market is highly competitive, with players launching innovation-driven products and investing in strategic partnerships. Key participants include:

• 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

These companies are focused on health-based R&D, expansion, and functional ingredient diversification.

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Frequently Asked Questions (FAQs)

1. What are the main drivers of the GCC Off the Road (OTR) Tire market?
2. Which segment leads the GCC Off the Road (OTR) Tire industry?
3. What regulatory challenges impact product development?
4. Who are the top players in the GCC Off the Road (OTR) Tire industry?

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