Makers of OTR tires faced a downturn in 2015, a downturn due in part to events taking place in the overall global Mining industry. After all, nearly all Otr Tires are used in mining equipment, meaning whatever happens to the mining community directly affects the makers and purveyors of OTR tires.

Since 2016 is still a fairly fresh year, it’s not possible yet to predict exactly how the markets will react. There seems to be evidence, however, that the downturn won’t follow us all the way through to 2017. High-ranking executives from top tire companies have weighed in, and the consensus seems to be positive overall.

The mining segment is cyclical. We are optimistic about the future of this market and expect Demand for off-road tires to increase steadily as the need for mineral resources grows with a measured economic expansion across the globe,” says Bridgestone’s Cole (Tire Review).

We know that the markets are driven by supply and demand, and when demand drops there must be a corresponding drop in supply to bring the market and prices back into balance.  At some point, the industry self-corrects and brings supply back into balance with current demand. Of course, sometimes the Mining Industry and their suppliers overshoot and cut production too much, or demand picks up much faster than industry forecasts predicts and the market flips to the opposite imbalance and excess demand drives up prices and calls forth more supply.

Here at BuyBigTires.com, we’ve seen these cycles in the past. We see no reason to assume that they won’t be part of our future, and we look forward to seeing the turn around with our own eyes. And as we’ve seen in the past, the turn around could just be on your doorstep much soon than you were expecting!

Remember that we carry a full line of OTR tires for all of your mining needs. Feel free to contact us with questions you might have or to hear about our current deals.

Image credit: By SilverStar at English Wikipedia, CC BY 2.5

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