Global OTR Tire Cords Market Growth 2024-2030

Global OTR Tire Cords Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global OTR Tire Cords market size was valued at US$ 3913 million in 2023. With growing demand in downstream market, the OTR Tire Cords is forecast to a readjusted size of US$ 4781.4 million by 2030 with a CAGR of 2.9% during review period.

The research report highlights the growth potential of the global OTR Tire Cords market. OTR Tire Cords are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of OTR Tire Cords. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the OTR Tire Cords market.

Tire fabric cords provide dimensional stability and help support the vehicle weight. These textiles are polyester cord fabrics, rayon cord fabric, nylon cord fabric, and aramid cord fabric. They are used to make the tire plies in passenger tires.

According to our “Construction Machinery” research center, sales of construction machinery in Europe increased by 24% in 2021, and in 2022 the construction machinery revenue in Europe was about US$ 22 billion, while the US market sold about $36 billion in construction machinery in 2022. China's construction machinery has complete categories and outstanding advantages, with 20 categories, 109 groups, 450 models, 1090 series and tens of thousands of models of product equipment. By the end of 2021, the number of major products of construction machinery in China was about 5.61 million to 6.08 million units. According to our “Construction Machinery” research center, the total sales of the top 50 global construction machinery manufacturers in 2022 reached US$ 220 billion. And Asian companies occupied an absolute advantage, accounting for 50% of revenue, followed by Europe and North America, accounting for 26% and 23%.

Key Features:

The report on OTR Tire Cords market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the OTR Tire Cords market. It may include historical data, market segmentation by Type (e.g., Steel Cords, Polymer Cords), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the OTR Tire Cords market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the OTR Tire Cords market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the OTR Tire Cords industry. This include advancements in OTR Tire Cords technology, OTR Tire Cords new entrants, OTR Tire Cords new investment, and other innovations that are shaping the future of OTR Tire Cords.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the OTR Tire Cords market. It includes factors influencing customer ' purchasing decisions, preferences for OTR Tire Cords product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the OTR Tire Cords market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting OTR Tire Cords market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the OTR Tire Cords market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the OTR Tire Cords industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the OTR Tire Cords market.

Market Segmentation:

OTR Tire Cords market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
Steel Cords
Polymer Cords

Segmentation by application
Bias Tire
Radial Tire

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Bekaert
Jiangsu Xingda Steel Cord
Kiswire
Hyosung
Shandong SNTON Steel Cord
Bridgestone
Shougang Century
Tokusen
Tokyo Rope MFG
Hubei Fuxing New Material
BMZ
Henan Hengxing
Junma Tyre Cord
Sumitomo Electric Industries
Sodetal
Kordsa Global

Key Questions Addressed in this Report

What is the 10-year outlook for the global OTR Tire Cords market?

What factors are driving OTR Tire Cords market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do OTR Tire Cords market opportunities vary by end market size?

How does OTR Tire Cords break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.