The global off-the-road tire market exhibited moderate growth during 2015-2020.
Off-the-road (OTR) tires refer to the deep treaded tires that provide high traction over unlevelled surfaces, including rock, mud, loose dirt, or gravel. Various off-the-road vehicles include cranes, wheel loaders, telescopic handlers, tractors, all-terrain vehicles (ATVs), military trucks, and specialized purpose vehicles. OTR tires provide high heat and rolling resistance, better durability, enhanced vehicular performance, optimum stability, easy mobility, and reduced contact patch area. As a result, these tires are widely adopted across various sectors, including construction, mining, recreation, and agriculture.
The expanding construction industry coupled with rising infrastructural development across diverse geographic locations is augmenting the demand for OTR vehicles. Rising construction activities such as bridges, highways, dams, power supply grids, etc., are further bolstering the OTR tire market. Moreover, the market is also driven by the increasing adoption of automated machinery for several industrial processes. The prevalent trend of farm mechanization along with the rising demand for off-the-road tractors in the agriculture sector is also driving the market. The increasing adoption of OTR tires in dirt bikes and quads for several recreational purposes is also driving the market. The market is also being catalyzed by technological advancements. For instance, the rising integration of various sensor-based technologies with OTR tires helps in monitoring tire pressure and temperature and proactively addresses any potential hazards by providing real-time data analysis.
The COVID-19 pandemic outbreak in early 2020, however, has negatively impacted the growth of the off-the-road tire market. Several industrial and construction activities were temporarily halted due to national lockdowns across the globe. Lockdowns also resulted in raw material supply disruption and temporary shutdown of plants manufacturing OTR tires. From 2021, however, we expect the global off-the-road tire market to recover and to grow at a CAGR of around 5% during 2021-2026.
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 Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa Saudi Arabia UAE South Africa Others
Competitive Landscape: The competitive landscape of the industry has also been examined with some of the key players being Apollo Tyres, Balkrishna Industries Limited, Bridgestone Corporation , Cheng Shin Rubber Ind. Co. Ltd., China National Tire & Rubber Co. Ltd. (China National Chemical Corporation Limited), Continental AG, Double Coin Holdings ( Shanghai Huayi Group Corporation Limited), JK Tyre & Industries Ltd., Michelin, Pirelli & C. S.p.A., The Goodyear Tire & Rubber Company, Titan International Inc., Trelleborg Ab, and Yokohama Rubber Co. Ltd. Key Questions Answered in This Report:
How has the global off-the-road tire market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global-off-the-road tire market? What are the key regional markets? What is the breakup of the market based on the vehicle type? What is the breakup of the market based on the tire type? What is the breakup of the market based on the end-use? What is the breakup of the market based on the distribution channel? What is the breakup of the market based on the rim size? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global off-the-road tire market and who are the key players? What is the degree of competition in the industry?
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