Off-the-Road (OTR) Tires Market with COVID-19 Impact Analysis, By Product (Radial Tires Bias Tires Non-Pneumatic Tires), By Vehicle Types (Tractors and Agricultural Equipment Material Handling Equipment Loader and Dozers Graders Earthmovers), By Distribution Channel (OEMs (Original Equipment Manufacturers) Aftermarket), and by Region (NA, EU, APAC, LA, MEA) Analysis, Size, Share, Trends, & Forecast from 2021-2027
REPORT HIGHLIGHT
The global Off-the-Road (OTR) Tire market was valued at USD 6,118.6 Million in 2020, growing with 5.2% CAGR during the forecast period, 2021-2027.
In the agriculture logistics, mining, and housing industries, off-the-road (OTR) tires are commonly used in larger trucks for off-road operations. Off-the-road (OTR) tires are made to increase stability and performance while providing grip on a variety of unpaved conditions, such as sand, mud, and dirt. The development of the housing sector in emerging nations has spurred demand for construction and material handling equipment, which is likely to drive considerable growth in the off-road tires market.
Market Dynamics
Because of the effect of globalization, most emerging countries have seen significant expansion in infrastructure construction. Infrastructure comprises a developing transportation network, significant investments in roads, bridges, and tunnels to make commuting easier, an enhanced supply chain network to facilitate commerce, expanding industrial sectors, and construction projects. With rising labor costs, the need for improved productivity, and making the most use of resources, demand for sophisticated machinery is likely to fuel demand for construction and mining equipment. According to the Global Infrastructure Outlook, infrastructure development investments would be valued at USD 2.8 trillion in 2021. Infrastructure investments by both the private sector and the government are expected to expand, resulting in increased demand for mining and construction equipment.
The rise of the OTR tires industry in recent years has been fueled by increasing demand for tires as a result of increased sales and use of off-highway vehicles. It has also prompted the development of environmentally friendly tires that can be readily recycled. Tire producers are focusing on the creation of eco-friendly or green tires as a result of rigorous emission laws in Europe and America, such as Euro VI and CAFE. Green tires have a reduced ride quality and offer improved safety, grip, durability, mileage, abrasion resistance, and noise reduction.
Segmentation Analysis:
The Off-the-Road (OTR) Tires market is segmented on the basis of Product, Vehicle Type, Distribution Channel, Vehicle Type, and region.
The sector of OTR tires for agricultural tractors is expected to lead the OTR tires market. The agricultural tractors market is predicted to take the lead in OTR tires demand because of an increased need for farm automation.
Over the projected period, the radial tires category is expected to increase at the quickest rate. Radial tires' advantages in numerous applications are driving the upward trend. Radial off-road tires offer low fuel consumption, excellent traction, increased cut resistance inside the tread region, and flocculation. Radial tires also provide high thermal stability, allowing them to run much cooler than solid or bias tires. Bias tires, on the other hand, are expected to increase at a faster rate than radial off-road tires due to their lower cost and higher load-carrying ability.
Over the projected period, the aftermarket category is predicted to grow at the quickest rate. The segment's growth is fueled by rising demand for tyre replacement in the agricultural, construction, mining, and other industries. Furthermore, the segment's growth is likely to be aided by the need for machinery maintenance in these industries. Increased sales of agricultural tractors and heavy industrial vehicles with mounted off-the-road tires are likely to boost the OEM category significantly.
In 2020, Asia Pacific had the greatest market share of off-road tires, and this trend is likely to continue throughout the forecast timeframe. During the projected period, the fast expansion of the industrial, construction, and agricultural sectors in rising Asian nations such as China, India, Japan, and others is expected to promote market growth. In addition, the increased automation of these industries is driving up demand for off-road tires in Asia. Due to technical advancements in the off-the-road tires sector and the existence of strong major players throughout the region, Europe had a considerable market share in 2020.
Competitive Landscape:
The key players include MICHELIN, Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Sumitomo Tires, YOKOHAMA Rubber CO. Ltd., Nokian Tires, Apollo Tires Ltd., Prometeon Tyre, China Rubber Tire & Rubber Co. Ltd, BKT Tire, Group S.R.L., Titan, Qingdao Rhino Tyre Co., Trelleborg AB, International, Inc., and Triangle Group Co. Ltd.
Bridgestone Corporation launched the Bridgestone MasterCore Tire Line in August 2020. The MasterCore Tire Range is resistant to load pressure, heat, separation, wear, and cutting. The MasterCore technology is used to make these tires, which comprises a different type of iron cord and other sophisticated materials, increased adhesion between both the steel and rubber cord, new rubber compositions that are more durable, and strengthened casing for more reliable performance.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL OFF-THE-ROAD (OTR) TIRES MARKET KEY PLAYERS
- MICHELIN
- Bridgestone Corporation
- Continental AG
- The Goodyear Tire & Rubber Company
- Sumitomo Tires
- YOKOHAMA Rubber CO. Ltd.
- Nokian Tires
- Apollo Tires Ltd.
- Prometeon Tyre
- China Rubber Tire & Rubber Co. Ltd
- BKT Tire
- Group S.R.L.
- Titan
- Qingdao Rhino Tyre Co.
- Trelleborg AB
- International, Inc.
- Triangle Group Co. Ltd.
GLOBAL OFF-THE-ROAD (OTR) TIRES MARKET, BY PRODUCT
- Radial Tires
- Bias Tires
- Non-Pneumatic Tires
GLOBAL OFF-THE-ROAD (OTR) TIRES MARKET, BY VEHICLE TYPES
- Tractors and Agricultural Equipment
- Material Handling Equipment
- Loader and Dozers
- Graders
- Earthmovers
GLOBAL OFF-THE-ROAD (OTR) TIRES MARKET, BY DISTRIBUTION CHANNEL
- OEMs (Original Equipment Manufacturers)
- Aftermarket
GLOBAL OFF-THE-ROAD (OTR) TIRES MARKET, BY END-USER
- Ports
- Mining
- Industrial
- Construction
- Agriculture
- Other
GLOBAL OFF-THE-ROAD (OTR) TIRES MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Singapore
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
1. Off-the-Road (OTR) Tires Market Overview
1.1. Study Scope
2. Executive Summary
2.1. Market Snippet
2.1.1. Market Snippet by Product
2.1.2. Market Snippet by Vehicle Type
2.1.3. Market Snippet by Distribution Channel
2.1.4. Market Snippet by End User
2.1.5. Market Snippet by Region
2.2. Competitive Insights
3. Off-the-Road (OTR) Tires Key Market Trends
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. Off-the-Road (OTR) Tires Industry Study
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Off-the-Road (OTR) Tires Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Off-the-Road (OTR) Tires Market Landscape
6.1. Market Share Analysis, 2020
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. Off-the-Road (OTR) Tires Market – By Product
7.1. Overview
7.1.1. Segment Share Analysis, By Product, 2020 & 2027 (%)
7.2. Radial Tires
7.3. Bias Tires
7.4. Non-Pneumatic Tires
8. Off-the-Road (OTR) Tires Market – By Vehicle Type
8.1. Overview
8.1.1. Segment Share Analysis, By Vehicle Type, 2020 & 2027 (%)
8.2. Tractors and Agricultural Equipment
8.3. Material Handling Equipment
8.4. Loader and Dozers
8.5. Graders
8.6. Earthmovers
9. Off-the-Road (OTR) Tires Market – By Distribution Channel
9.1. Overview
9.1.1. Segment Share Analysis, By Distribution Channel, 2020 & 2027 (%)
9.2. OEMs (Original Equipment Manufacturers)
9.3. Aftermarket
10. Off-the-Road (OTR) Tires Market – By End User
10.1. Overview
10.1.1. Segment Share Analysis, By Distribution Channel, 2020 & 2027 (%)
10.2. Ports
10.3. Mining
10.4. Industrial
10.5. Construction
10.6. Agriculture
10.7. Other
11. Off-the-Road (OTR) Tires Market– By Geography
11.1. Introduction
11.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
11.2. North America
11.2.1. Overview
11.2.2. Key Manufacturers in North America
11.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.2.4. North America Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.2.5. North America Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.2.6. North America Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.2.7. North America Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.2.8. U.S.
11.2.8.1. Overview
11.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.2.8.3. U.S. Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.2.8.4. U.S. Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.2.8.5. U.S. Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.2.8.6. U.S. Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.2.8.7.
11.2.9. Canada
11.2.9.1. Overview
11.2.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
1.1.1.1. Canada Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
1.1.1.2. Canada Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
1.1.1.3. Canada Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
1.1.1.4. Canada Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3. Europe
11.3.1. Overview
11.3.2. Key Manufacturers in Europe
11.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.3.4. Europe Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.3.5. Europe Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.3.6. Europe Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.3.7. Europe Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.8. Germany
11.3.8.1. Overview
11.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.8.3. Germany Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.3.8.4. Germany Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.3.8.5. Germany Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.3.8.6. Germany Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.9. Italy
11.3.9.1. Overview
11.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.9.3. Italy Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.3.9.4. Italy Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.3.9.5. Italy Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.3.9.6. Italy Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.10. United Kingdom
11.3.10.1. Overview
11.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.10.3. United Kingdom Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.3.10.4. United Kingdom Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.3.10.5. United Kingdom Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.3.10.6. United Kingdom Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.11. France
11.3.11.1. Overview
11.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.11.3. France Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.3.11.4. France Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.3.11.5. France Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.3.11.6. France Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.3.12. Rest of Europe
11.3.12.1. Overview
11.3.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.3.12.3. Rest of the Europe Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.3.12.4. Rest of the Europe Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.3.12.5. Rest of the Europe Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.3.12.6. Rest of the Europe Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4. Asia Pacific (APAC)
11.4.1. Overview
11.4.2. Key Manufacturers in Asia Pacific
11.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.4.4. Asia Pacific Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.4.5. Asia Pacific Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.4.6. Asia Pacific Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.4.7. Asia Pacific Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.8. India
11.4.8.1. Overview
11.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.8.3. India Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.4.8.4. India Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.4.8.5. India Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.4.8.6. India Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.9. China
11.4.9.1. Overview
11.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.9.3. China Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.4.9.4. China Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.4.9.5. China Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.4.9.6. China Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.10. Japan
11.4.10.1. Overview
11.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.10.3. Japan Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.4.10.4. Japan Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.4.10.5. Japan Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.4.10.6. Japan Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.11. South Korea
11.4.11.1. Overview
11.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.11.3. South Korea Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.4.11.4. South Korea Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.4.11.5. South Korea Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.4.11.6. South Korea Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.4.12. Rest of APAC
11.4.12.1. Overview
11.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.4.12.3. Rest of APAC Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.4.12.4. Rest of APAC Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.4.12.5. Rest of APAC Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.4.12.6. Rest of APAC Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5. Latin America
11.5.1. Overview
11.5.2. Key Manufacturers in Latin America
11.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.5.4. Latin America Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.5.5. Latin America Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.5.6. Latin America Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.5.7. Latin America Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.8. Brazil
11.5.8.1. Overview
11.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.5.8.3. Brazil Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.5.8.4. Brazil Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.5.8.5. Brazil Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.5.8.6. Brazil Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.9. Mexico
11.5.9.1. Overview
11.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.5.9.3. Mexico Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.5.9.4. Mexico Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.5.9.5. Mexico Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.5.9.6. Mexico Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.10. Argentina
11.5.10.1. Overview
11.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.5.10.3. Argentina Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.5.10.4. Argentina Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.5.10.5. Argentina Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.5.10.6. Argentina Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.11. Rest of LATAM
11.5.11.1. Overview
11.5.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.5.11.3. Rest of LATAM Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.5.11.4. Rest of LATAM Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.5.11.5. Rest of LATAM Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.5.11.6. Rest of LATAM Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.6. Middle East and Africa
11.6.1. Overview
11.6.2. Key Manufacturers in Middle East and Africa
11.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
11.6.4. Middle East and Africa Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.6.5. Middle East and Africa Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.6.6. Middle East and Africa Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.6.7. Middle East and Africa Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.6.8. Saudi Arabia
11.6.8.1. Overview
11.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.6.8.3. Saudi Arabia Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.6.8.4. Saudi Arabia Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.6.8.5. Saudi Arabia Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.6.8.6. Saudi Arabia Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
11.6.9. United Arab Emirates
11.6.9.1. Overview
11.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
11.6.9.3. United Arab Emirates Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
11.6.9.4. United Arab Emirates Market Size and Forecast, By Vehicle Type, 2016 - 2027 (US$ Million)
11.6.9.5. United Arab Emirates Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Million)
11.6.9.6. United Arab Emirates Market Size and Forecast, By End User, 2016 - 2027 (US$ Million)
12. Key Vendor Analysis
12.1. Competitive Dashboard
12.2. Company Profiles
12.2.1. MICHELIN
12.2.2. Bridgestone Corporation
12.2.3. Continental AG
12.2.4. The Goodyear Tire & Rubber Company
12.2.5. Sumitomo Tires
12.2.6. YOKOHAMA Rubber CO. Ltd.
12.2.7. Nokian Tires
12.2.8. Apollo Tires Ltd.
12.2.9. Prometeon Tyre
12.2.10. China Rubber Tire & Rubber Co. Ltd
12.2.11. BKT Tire
12.2.12. Group S.R.L.
12.2.13. Titan
12.2.14. Qingdao Rhino Tyre Co.
12.2.15. Trelleborg AB
12.2.16. International, Inc.
12.2.17. Triangle Group Co. Ltd.
13. 360 Degree AnalystView
14. Appendix
14.1. Research Methodology
14.2. References
14.3. Abbreviations
14.4. Disclaimer
14.5. Contact Us
