North America OTR tire market to grow at 6.50% during 2017 – 2022.

According to TechSci Research report, “North America OTR Tire Market By Vehicle Type, By Country, Competition Forecast and Opportunities, 2022,” the OTR tire market in North America is forecast to grow at a CAGR of around 6.50% during 2017 – 2022.

The report explains how increased demand for construction equipment throughout North America is boosting demand for OTR tires for construction vehicles. Growing mechanization of agriculture farms is also aiding the OTR tire market.

“North American countries are among the major mineral producing countries of the world, and have considerable share in global mineral production. Therefore, the demand for mining equipment tires in this region is high, and the same trend is expected to continue over the next five years as well,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.