Global off the road tire market is expected to experience a compound annual growth rate (CAGR) of 7.1% from 2019 to 2026. Rise in the growth of construction equipment and material handling is one of the primary factors boosting the demand for off the road tire industry. Increase in mining activities globally is supporting the growth of the global off the road tire market. The focus of governments across different countries in the benefits related to the mining sector is resulting in the increased demand for such tires. However, off the road tires market has experienced slow growth in the last few years due to challenges associated with the coal mining sector. However, mining equipment and the sector itself is experiencing significant growth at present; thereby expected to boost the growth of off the road tires market too.
By geography, Asia Pacific is expected to experience substantial growth during the forecast period primarily due to the presence of China in the region. China is the world-leading manufacturer of off the road vehicles; thereby experiencing maximum sales globally. Countries such as Japan, Malaysia, Thailand, and India are also expected to see a surge in the demand for off the road vehicles during the forecast period. The construction industry, as well as the agriculture industry, are expected to contribute to the growth of off the road tires market in the regions. The Asia Pacific is followed by North America and Europe.
Global Off the Road Tire Market is segmented into construction type, by vehicle type, by distribution channel, and by geography. Further, by construction type, the market is segmented into bias, belted bias and radial. By vehicle type, the market is sub-segmented into mining, agriculture vehicles, construction, and industrial equipment and others. By distribution channel, the market is segmented into Original Equipment Manufacturer (OEM) and aftermarket.
By geography, the Off the Road Tire Market is distributed across the various geographical regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The country-wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico while Europe covers Germany, Italy, UK, & Rest of Europe. Japan, China, India, Australia, and Rest of Asia-Pacific have been analyzed under the Asia-Pacific market. Rest of the world includes Central & South America, the Middle East, and Africa.
The scope of the report covers in-depth analysis of the market in terms of both qualitative and quantitative analysis across the segments as well as cross-sectional analysis of the segments including the geographies and its countries. The market has been analyzed both from demand as well as supply side to come to an accurate scenario. Products across application and application across geographies have been mapped to provide you a precise competitive scenario to have a leading edge in the market.
Key companies operating in this market and their company profile along with the market share analysis and competitive scenario is also part of the report. Top players are Cheng Shin Rubber Industry Co (Taiwan), Continental AG (Germany), Apollo Tyres (India), Balkrishna Industries (BKT) (India), Bridgestone (Japan),Giti Tire (Singapore), The Goodyear Tire & Rubber Company (U.S.), JK Tyre & Industries Ltd (India), Toyo Tire & Rubber Co., Ltd. (Japan), Trelleborg AB (Sweden), Michelin (France), Nokian Tyres plc (Finland), Pirelli & C. S.p.A. (Italy), The Titan Tire Corporation (U.S.), and The Yokohama Rubber Company (Japan) among others.
The highlight of the report
Scope of the Global Off the Road Tire Market
Vehicle End Use Segments
Distribution Channel Segments