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Global Off The Road Tire Market is segmented Construction Type (Bias, Belted bias and Radial), by Vehicle type (Mining, Agriculture Vehicles, Construction and Industrial Equipment and Others), by distribution channel (OEM and Aftermarket) And Region.Off The Road Tire Market Key Companies Analyzed:
Apollo Tyres (India), Balkrishna Industries (BKT) (India), Bridgestone (Japan), Cheng Shin Rubber Industry Co (Taiwan), Continental AG (Germany), Giti Tire (Singapore), The Goodyear Tire & Rubber Company (U.S.), JK Tyre & Industries Ltd (India), Michelin (France), Nokian Tyres plc (Finland), Pirelli & C. S.p.A. (Italy), The Titan Tire Corporation (U.S.), Toyo Tire & Rubber Co., Ltd. (Japan), Trelleborg AB (Sweden) and The Yokohama Rubber Company (Japan) among others.
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Global Off The Road Tire Market Highlights:
Global Off The Road Tire Market Growth is attributed to factors such as increased the demand for material handling and construction equipment. This is likely to drive the growth of OTR tires market globally. Further, national governments and several regional organizations are focusing on magnifying the benefits from the mining sector, which is resulting in increased mining activities globally.
The market experienced a downturn in the past few years, majorly, due to challenges in the coal mining segment. The increasing cost of coal mining due to the introduction of various government regulations, hinders the growth of the off-the-road tire market. The decline in the prices of crude oil has led to a weak construction and mining activities. This slowdown in the growth of the construction and mining sector, is also expected to restrict the growth of the off-the-road tire market. Despite the hindrances, the global off-the-road tire market is projected to grow at the CAGR of ~6%.
Regional Analysis:
Asia Pacific region, of all regions, is expected to dominate the global off-the-road tire market. In Asia Pacific region, China is a leading manufacturer of off-the-road vehicles and it also has the maximum amount of sales, thereby driving the growth of the market in the region. Countries such as India, Japan, Thailand, and Malaysia, are also experiencing a boom in the sales of off-the-road tires and vehicles. Also, the booming agriculture and construction industry in the region, is expected to contribute growth in the global market. The growth of off-the-road tire market will be followed by the North America and Europe.
Market Segments Analysis:
Globally, the off-the-road tire market can be segmented on the basis of construction type, vehicle type, distribution channel and by regions.
On the basis of construction type, the market can be segmented into bias, belted bias and radial. Among these, the bias segment is expected to hold the largest market share. Bias tires are constructed using cross ply and the cords stretch from bead to bead. Bias tires are preferred over radial tires as it facilitates the entire tire to flex. The flexibility offers a smooth and comfortable ride on rough and uneven terrains. However, these tires have less traction and less control at higher speed.
On the basis of vehicle type, the market can be segmented into mining, agriculture vehicles, construction and industrial equipment and others. The commercial vehicles are expected to witness a prominent growth during the forecast period due to the rise in demand for OTR tires in vehicles used for tractor applications and off-road construction.
Based on distribution channel, the market can be segmented into OEM and aftermarket. The OEM segment is anticipated to expand at a fast pace since these tires are used in bad weather conditions and do not require frequent replacement. OTR tires require to be replaced only when they are damaged or worn out after prolonged use.
The market can also be segmented into North America, Europe, Asia Pacific and Rest-of-the-World.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Researc
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter's Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
List Of Tables:
Table 1 Global Off The Road Tire Market: By Region, 2017-2023
Table 2 North America Off The Road Tire Market: By Country, 2017-2023
Table 3 Europe Off The Road Tire Market: By Country, 2017-2023
Table 4 Asia Pacific Off The Road Tire Market: By Country, 2017-2023
Table 5 RoW Off The Road Tire Market: By Country, 2017-2023
Table 6 Global Off The Road Tire Market, By Technology, By Regions, 2017-2023
Continued…
List Of Figures:
FIGURE 1 RESEARCH INSULATION TYPE
FIGURE 2 GLOBAL OFF THE ROAD TIRE MARKET: BY TYPE (%)
FIGURE 3 GLOBAL OFF THE ROAD TIRE MARKET: BY END USER (%)
FIGURE 4 GLOBAL OFF THE ROAD TIRE MARKET: BY REGIO
FIGURE 5 NORTH AMERICA OFF THE ROAD TIRE MARKET, BY TYPE (%)
FIGURE 6 NORTH AMERICA OFF THE ROAD TIRE MARKET, BY END USER (%)
FIGURE 7 EUROPE OFF THE ROAD TIRE MARKET, BY TYPE (%)
FIGURE 8 EUROPE OFF THE ROAD TIRE MARKET, BY END USER (%)
FIGURE 9 ASIA-PACIFIC OFF THE ROAD TIRE MARKET, BY TYPE (%)
FIGURE 10 ASIA-PACIFIC OFF THE ROAD TIRE MARKET, BY END USER (%)
FIGURE 11 ROW OFF THE ROAD TIRE MARKET, BY TYPE (%)
FIGURE 12 ROW OFF THE ROAD TIRE MARKET, BY END USER (%)
Continued…
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