According to IMARC Group’s latest report, titled “Off-The-Road Tire Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global off-the-road tire marketexhibited moderate growth during 2015-2020. Looking Forward the market is expected to grow at a CAGR of around 5% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Off-the-road (OTR) tires are deep-treaded tires that provide firm grip over unlevelled surfaces, including rock, mud, loose dirt, or gravel. Few off-the-road vehicles include cranes, wheel loaders, telescopic handlers, tractors, all-terrain vehicles (ATVs), military trucks, and specialized purpose vehicles. OTR tires in vehicles offer high heat and rolling resistance, improved durability, enhanced vehicular performance, optimum stability, easy mobility, and lesser contact patch area. As a result, these tires are widely used across various sectors, including construction, mining, recreation, and agriculture.
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Market Trends
The expanding construction industry, along with the growing infrastructural development, including the construction of bridges, highways, dams, power supply grids, etc., is fostering the demand for OTR vehicles. Moreover, the market is also catalyzed by the growing application of automated machinery in various industrial processes. The increasing trend of farm mechanization and elevating demand for off-the-road tractors in the agriculture sector is also driving the OTR tire market. These tires are also being used widely in dirt bikes and quads for recreational purposes. Furthermore, several advancements have led to the integration of various sensor-based technologies with OTR tires for monitoring tire pressure and temperature, along with addressing potential hazards by providing real-time data analysis.
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List of Key Companies Covered in this Market Report:
- Apollo Tyres (NSE: APOLLOTYRE)
- Balkrishna Industries Limited (NSE: BALKRISIND)
- Bridgestone Corporation (OTCMKTS: BRDCY)
- Cheng Shin Rubber Ind. Co. Ltd. (TPE: 2105)
- China National Tire & Rubber Co. Ltd. (China National Chemical Corporation Limited)
- Continental AG (OTCMKTS: CTTAY)
- Double Coin Holdings (Shanghai Huayi Group Corporation Limited) (SHA: 600623)
- JK Tyre & Industries Ltd (NSE: JKTYRE)
- Michelin (OTCMKTS: MGDDY)
- Pirelli & C. S.p.A. (OTCMKTS: PLLIF)
- The Goodyear Tire & Rubber Company (NASDAQ: GT)
- Titan International Inc.(NYSE: TWI)
- Trelleborg Ab (STO: TREL-B)
- Yokohama Rubber Co. Ltd (OTCMKTS: YORUY)
The report has segmented the market on the basis of vehicle type, tire type, end use, distribution channel, rim size and geography.
Breakup by Vehicle Type:
- Mining Vehicles
- Construction & Industrial Vehicles
- Agricultural Vehicles
- Others
Breakup by Tire Type:
- Radial Tire
- Bias Tire
Breakup by End-Use:
- OEM
- Replacement
Breakup by Distribution Channel:
- Online
- Offline
Breakup by Rim Size:
- Below 29 inches
- 29-45 inches
- Above 45 inches
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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