The Global Mining Tyres Market Size was 4593.6 million USD in 2020 and it is projected to reach 4959.2 million USD in 2027, growing at a CAGR of 1.1% during 2021-2027. 2020 has been considered as the base year and 2021 to 2027 as the forecast period to estimate the market size for mining tyres.
Despite supply chain constraints, the North American OTR tyre market made a dramatic rebound in 2021. Infrastructure projects, elevated commodity prices and other factors will help ensure that demand for OTR tyres remains robust in the new year 2022, according to OTR tyre manufacturers.
Jaye Young, mining business line marketing director, Michelin Group: Tyre demand was very strong in both the quarry and mining sectors, driven by recovery-focused infrastructure investments, increased energy consumption and demand for commodities like copper, iron ore and nickel needed to support the transition to sustainable energy sources like batteries, windmills and solar panels.
Bruce Besancon, vice president, marketing and strategy, Yokohama Off-Highway Tires America Inc.: The 2021 OTR tyre business was like a gold rush and tyres were the gold. After losing 20% to 30% of their sales in 2020, dealers and original equipment manufacturers came back strong in 2021 — gaining back what they’d lost and continuing to build strength right through the end of the year and into 2022. While customers were calling for tyres, manufacturers were working hard to increase capacity, meet demand and shore up their partner-dealer relationships.
Mining Tough Task Should Be Supported by Tough Mining Tyres
TOGMAX GROUP focus on high performance OTR tyres, OTR wheels and mining trucks supplying and aftersale service to maintain the construction sites, quarries and mining sites truck fleets run well smoothly.