Middle East OTR Tire Market to Grow at 10% during 2017 – 2022
Increasing
investments in construction activities and continuously expanding
infrastructure and industrial sectors to drive the Middle East OTR tire market
through 2022
According to TechSci Research report, “Middle
East OTR Tire Market By Vehicle Type, By Company, By Demand
Category Competition Forecast & Opportunities, 2022”, the OTR
tire market in the Middle East is projected to grow at a CAGR of over 10% during
2017 – 2022. On the basis of vehicle type, Europe OTR
tire market has been broadly classified into three categories, namely, Mining,
Construction & Industrial Equipment; Agriculture Vehicles; and Others.
Among these categories, mining, construction & industrial equipment
dominated the region’s OTR tire market in 2016, and the segment is expected to
maintain its dominance over the next five years as well.
Browse 4 market data Tables and 15 Figures spread
through 43 Pages and an in-depth TOC on "Middle East OTR Tire Market"
https://www.techsciresearch.com/report/middle-east-otr-tire-market-by-vehicle-type-agriculture-equipment-industrial-equipment-s-atvs-etc-by-company-by-demand-category-oem-vs-replacement-forecast-opportunities/1165.html
Growing per capita income and continuous launch of new
OTR vehicle models are some of the key factors expected to drive Middle East
OTR tire market during forecast period. Demand for OTR tires is growing with
large-scale development activities in construction, mining and industrial
sectors in Middle East region. Moreover, government
support in the form of tax subsidies & incentive policies for
infrastructure development and megaprojects is expected to aid the region’s OTR
tire market during 2017 – 2022.
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“Over
the years, Middle East OTR tire industry has witnessed considerable increase in
demand for mining, construction & industrial equipment, resulting in an increase
in demand for OTR tires. This trend is expected to prevail with continuing
growth in mining, construction & industrial equipment production as well as
demand over the next five years.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Middle East OTR Tire Market By Vehicle Type, By
Company, By Demand Category Competition Forecast & Opportunities, 2022”
has
analyzed the potential of Middle East OTR tire market, and provides information
and statistics on market structure, imports and trends. The report intends in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. The report also identifies and
analyzes emerging trends along with essential drivers and key challenges faced
by the industry.
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