According to the latest report by IMARC Group, titled, “Off-the-Road Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global off-the-road tire market size reached US$ 27.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 37.9 Billion by 2027, exhibiting a growth rate (CAGR) of 5.2% during 2022-2027.
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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Off-the-Road Tire Market Trends and Drivers:
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.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- 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
- Yokohama Rubber Co. Ltd.
Off-the-Road Tire Market Report 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market based on vehicle type, tire type, end-use, distribution channel and rim size.
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
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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