For understanding Off-the-road tires Market is segmented by Material (Composite Plastic, Metal and Fiber), By Positioning (Front ends and Rear ends), By End Market (OEM and Aftermarket) and Region.
Off-the-road tires Industry Global Key Companies Market Analyzed In Report Are:
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 tires Market Highlights:
Off-the-Road (OTR) tires are usually used in heavy-duty vehicles such as construction, agricultural, logistics, and mining industry and offer traction on unpaved surfaces like gravel, mud, sand or loose dirt.
Market Research Future published research report on global Off-the-road tires industry. Report provides five-year annual trend analysis that highlights market size, volume, opportunities and share for North America, Asia-Pacific, Europe And Rest of The World. The global Off-the-road tires market is estimated to expand at highest CAGR during the forecast period.
The global Off-the-road tire market is driven with the continuous growth of various sectors such as agricultural and logistics, mining and construction. The growth of the market is further driven by the increase in the use of the off-the-road vehicles such as cranes, wheel loaders, telescopic handlers, tractors and special purpose vehicles.
OTR tires differ in composition and size depending on the requirement of the job site environment. They are designed for large construction vehicles that include haul trucks, wheel loaders, backhoes, graders, and trenchers.
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%.
Meanwhile, the market also experienced a drawback due to challenges in the coal mining segment. With the increasing cost of coal mining due to various government regulations, the growth of off-the-road tires can be affected. Also, the decline in crude oil prices has led to weak mining activities and weak construction, which is restricting the market growth.
This report includes a study of strategies, of major Off-the-road tires Market players. It includes the product portfolios and developments of leading major players. Off-the-road tires Market 2018 Market Segmentation, Application, Technology & Market Analysis Research Report.
Off-the-road tires Market Segmentation:
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.
Off-the-road tires Regional Market Analysis:
Geographically, the global Off-the-road tires market has been segmented into Americas, Europe, Asia Pacific and the Middle East and Africa.
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.
Major Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
Continued…
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