Off-the-Road Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Off-the-Road Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global off-the-road tire market size reached US$ 29.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 39.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global off-the-road tire market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized 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

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?