OTR Demand Will Explode in An All-round Way

In 2022, the global OTR tire market size will reach 23 billion US dollars, and it is expected that the global OTR tire market size will reach 30 billion yuan in 2028.
Off-road tires (OTR) mainly include agricultural tires and engineering tires. After the epidemic, global agriculture, mining, and infrastructure continued to recover, and the global demand for off-highway tires continued to rise.
The demand for overseas construction machinery is improving. Taking the United States as an example, driven by the 1.2 trillion infrastructure bill, the growth rate of infrastructure investment in the United States has steadily increased, and the cumulative growth rate in the first half of 2023 will be about 16%.
For the world, infrastructure investment is still an important starting point for stabilizing the economy. In addition, thanks to the rapid development of the new energy industry, investment in mineral exploration and mining has further increased, and the substantial growth of construction machinery brought about by the dual drive of mining and infrastructure is bound to drive the growth of demand for downstream OTR tires.
The OTR tire market has great potential.