Market Overview: Off the Road Tire Market FY24-30

This reports provides an essential and dependable overview of the Off the Road Tire Market, serving as a guide for stakeholders navigating the industry's future trajectory. It covers critical aspects, guiding through challenges and opportunities, shedding light on the market landscape, key insights, driving forces, major competitors, regulatory framework, potential growth, ongoing trends, supply chain dynamics, evolving policies, segments and prominent players.

Off the Road Tire Market Report Coverage Details:

• Base Year: 2023
• Historical Data: 2019-22
• Forecast Period: 2024-2030
• CAGR: 8% (2024-2030)

The Global Off-the-Road (OTR) Tire Market size was valued at around USD 24.5 billion in 2023 & is projected to grow at a CAGR of around 4.8% during 2024-30.

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Off the Road Tire Market Opportunity:

Booming Construction Sector to Offer Lucrative Growth Opportunities – The speedy growth in the construction sector in rural and urban areas offers enormous growth opportunities for the Global Off-the-Road (OTR) Tire Market. In diverse infrastructure tasks, there is a need for heavy equipment utilized in construction, including bulldozers, excavators, and loaders. These heavy vehicles require long-lasting and high-performance OTR tires so an organization can function efficaciously under the hard conditions of construction sites. The demand for specialized OTR tires is rising with massive-scale infrastructure developments like roads and bridges as these tires provide improved traction, balance, and durability. This fast urbanization and continued construction work create the robust possibility for OTR tire manufacturers to innovate tires that could cater to the present-day needs of the construction projects, as a result fuelling the growth & expansion of the OTR tire industry. For instance,

• In July 2024, The Yokohama Rubber Co., Ltd. announced plans to establish a new passenger car tire manufacturing facility in China. Situated in the Qiantang New District of Hangzhou City, Zhejiang Province. This new plant will initially boast an annual production capacity of 9 million tires, with potential for future expansion.

Off the Road Tire Market Segmentation Analysis - FY24-30

Discover a comprehensive evaluation of every segment and its subdivisions, allowing our clients to gain a deep understanding of the Off the Road Tire Market (2024-30). We prioritize uncovering the pivotal factors that presently drive and will shape the industry's growth moving forward. Our goal is to empower our esteemed clients by optimizing their end-user positioning and revenue generation through a thorough analysis of market size, share and all the latest market scope across diverse segmentation categories.

The Off the Road Tire Market segmentation is enlisted below:

By End-Users

• Construction
• Industrial
• Mining
• Agriculture
• Ports

By Type of Equipment

• Earth Moving Equipment
  • Excavator
  • Roller
  • Bulldozer
  • Cranes
  • Grader
  • Loader
  • Others
• Material Handling Equipment
  • Tipper
  • Forklift
• Agricultural Equipment
  • Tractor
  • Farm Trucks
  • Harvester
  • Others

By Type of Tire

• Radial
• Bias
• Non-Pneumatic Tires

By Demand Type

• OEMs
• Aftermarket

By Price Category

• Budget
• Premium
• Economy

By Rim Size

• Up to 20"
• 1" to 26"
• 1" to 35"
• 1" to 47"
• Above 47"

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By Region

• North America
• South America
• Europe
• Middle East
• Africa
• Asia-Pacific

Off the Road Tire Market Competitive Landscape

Yokohama Rubber Co., Goodyear Tire and Rubber Company, Apollo Tyres Ltd., Bridgestone Corporation, Prometeon Tyres Group S.R.L, China National Tyre and Rubber, Michelin, Hankook Tyre Co. Ltd., Toyo, Continental, Balkrishna Industries Limited, Triangle.

Off the Road Tire Industry News:

• February 2024: The Goodyear Tire & Rubber Company launched the RL-5K off-road (OTR) tire, featuring a three-star load capacity rating specifically for heavy-duty loaders and wheel dozers. This new tire enhances the load-carrying capabilities of larger wheel loaders, boasting a deep tread design for improved cut resistance and traction in challenging terrains.

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Key Report Highlights   

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

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