Africa Off the Road (OTR) Tire Market Analysis, 2021 research report depicts a deep dive market analysis of statistics of Africa Off the Road (OTR) Tire market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Key Companies Profiled||Continental Aktiengesellschaft, Compagnie Générale des Établissements Michelin, Bridgestone Corporation, The Yokohama Rubber Co., Ltd, Sumitomo Rubber Industries, Ltd, Toyo Tire & Rubber Company, Hangzhou Zhongce Rubber Co. Ltd., Triangle Tyre Co. Ltd., CEAT Limited, BKT|
|Unit Denominations||USD Million/Billion|
According to MarkNtel Advisors’ research report “Africa Off the Road (OTR) Tire Market Analysis, 2021”, the Africa Off the Road (OTR) Tire market is anticipated to grow at a CAGR 6% during 2021-26. The growth of the market is accredited to rising inclination towards, increasing government investment on development of urban areas and surging infrastructure development activities along with launch of new truck tire in the market. Besides these, burgeoning demand for radial tire among agriculture industry, escalating government subsidies for farm equipment, and increasing investment in new radial tires plant are some of the factor placing a positive impact toward the growth of the market in the forecast period.
The COVID-19 pandemic adversely impacted the market of OTR tire in Africa due to disruption in supply chain, temporary shutdown of the manufacturing facilities and halt on various construction activities.