Usually, Off-the-Road (OTR) tires are used in heavy-duty vehicles that are not only useful for sectors like agricultural, construction, logistics, and mining industry, but can also offer traction on unpaved surfaces like gravel, loose dirt, mud, or sand. Market Research Future (MRFR) has published a research report about the global off the road tire market that ciphers aggrandizement for this market at 6% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The climacteric factor for the global off the road tire market is continuous growth of various sectors such as agricultural & logistics, mining & construction. Other factors contributing to the growth are the increase in the use of the off-the-road vehicles (including special purpose vehicles), and increasing use of technology for achieving attributes like increased durability. The increase in the use of heavy machinery and equipment in agriculture, mining, and industrial sectors is boosting the market. However, increasing the cost of coal mining due to the introduction of various government regulations can hamper market growth. The falling prices of crude oil have resulted in weak construction and mining activities.
Get a FREE Report Sample – https://www.marketresearchfuture.com/sample_request/5029
The global off the road tire market has been segmented on the basis of construction type, distribution channel, vehicle type, and lastly, region. Based on construction type, this market has been segmented into bias, belted bias and radial. Among these, the bias segment is being projected to hold the largest market share during the forecast period.
As per the distribution channel, the market has been segmented into the original equipment manufacturer (OEM) and aftermarket. During the forecast period, the OEM segment is anticipated to rise at rapid speed because these tires are useful in bad weather conditions and they do not require frequent replacement. OTR tires require replacement only when they are damaged or worn out after prolonged use. By vehicle type, the market can be segmented into agriculture vehicles, construction & industrial equipment, mining vehicles, and others.
The regional segmentation of the global off the road tire market segments the market into the regional markets namely Europe, North America, Asia Pacific, and rest of the world (RoW). During the forecast period, the Asia Pacific region has been anticipated to dominate the global market. In this region, China is a leading manufacturer of off-the-road vehicles, and it also has the maximum amount of sales. Other important country-specific markets in this region are India, Japan, Malaysia, and Thailand, followed by the remaining countries of the Asia Pacific region. Vital factors pushing the market growth in this region include the presence of many key market players in this region and the growing agriculture & construction industry in this region.
North America is the second largest regional market due to the established automotive sector, developed infrastructure, and the presence of many key market players. The key country-specific markets in this region are USA and Canada.
Europe is the third largest regional market whose primary reasons for growth are the same as in North America. The decisive country-specific markets in this region are France, Germany, Italy, and the UK, followed by the remaining countries of Europe.
Key Players
The key players in the global off the road tire market include Apollo Tyres (India), Bridgestone (Japan), Balkrishna Industries (BKT) (India), Continental AG (Germany), Cheng Shin Rubber Industry Co (Taiwan), The Goodyear Tire & Rubber Company (USA), Giti Tire (Singapore), Michelin (France), JK Tyre & Industries Ltd (India), Pirelli & C. S.p.A. (Italy), Nokian Tyres plc (Finland), Toyo Tire & Rubber Co., Ltd. (Japan), The Titan Tire Corporation (USA), Trelleborg AB (Sweden) and The Yokohama Rubber Company (Japan).
Latest Industry News
Get a FREE Report Sample – https://www.marketresearchfuture.com/sample_request/5029
Key Questions Addressed by the Report
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 RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
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
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com
Browse Complete Report – https://www.marketresearchfuture.com/reports/off-the-road-tire-market-5029