Global OTR Tires Market Set to Soar with Construction and Mining Boom
The global OTR tires market is experiencing a clear upswing as demand from mining, construction, and agricultural sectors drives deeper consumption of heavy-duty tyres. According to recent research, the global OTR tires market is projected to grow at a compound annual growth rate (CAGR) of about 6.1% through 2034.
In 2024, the market was valued at roughly USD 4.8 billion and is expected to rise to USD 8.4 billion by 2034. Key drivers include large-scale infrastructure investments, expansion of mining operations in Africa and Latin America, plus modernisation of agricultural fleets in the Asia-Pacific. As more equipment enters service with greater load and tougher terrain, the need for tyres engineered for harsh conditions grows substantially.
Technological evolution is shaping the OTR tires market as well. Radial tyres, which offer improved durability and fuel efficiency compared with older bias models, are gaining share. Smart tyre technologies with sensors and monitoring systems are increasingly adopted to reduce downtime and maintenance costs in heavy-duty operations. Regionally, Asia-Pacific remains dominant, accounting for nearly 40%-plus of volume share, driven by rapid mechanisation in countries such as India and China.
From a product-strategy perspective, tyre manufacturers and suppliers should note that the aftermarket segment is becoming increasingly important. As heavy-duty vehicles accumulate hours in demanding environments, replacement cycles tighten and service opportunities increase. For tyre makers focusing on heavy vehicle tyres, aligning product durability, service networks, and replacement support with fleet-based demand is vital.
Editor’s View
For the tyre industry, the growth of the OTR tires market is a major signal: heavy-vehicle tyres are no longer a niche but a strategic growth front. As construction, mining, and agriculture ramp up globally, manufacturers supplying heavy-duty tyres have a chance for scale and premium pricing. For India’s tyre makers and Asian-region suppliers, this means aligning with sectors beyond passenger cars. Heavy vehicle tyres, earthmoving equipment tyres, and specialised OTR segments should be on the radar. Building strong aftermarket, retread options, and service capabilities will be as important as the initial sale.
