Off-road Tires Market Size By Material (Synthetic Rubber, Natural Rubber, Fabrics & Wire, Carbon Black), By Tire Height (Below 31 Inches, 31-40 Inches, 41-45 Inches, Above 45 Inches), By Vehicle (4WD HDT, SUV, UTV, Dirt Bikes & Quad, OTR), By Distribution Channel (Original Equipment, Secondary/Replacement, Distributor/Dealer Equipped), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Sep 2019  |  Report ID: GMI4367  |  Authors: Kiran Pulidindi, Sayan Mukherjee

Report Format: PDF   |   Pages: 451   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Off-road Tires Market size valued at over USD 435 billion in 2018 and is estimated to exhibit around 7% CAGR from 2019 to 2025.
 

Off-road Tires Market

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Growing infrastructure development activities across the globe will support the off-road tires market growth over the study timeframe. Emerging economies are investing considerably in construction activities thereby generating demand for construction vehicles. Government initiatives and policies targeted towards improving public infrastructure and building projects is supporting the adoption of heavy-duty vehicles.
 

Rising off-road trailing activities will drive the market growth over the forecast timeframe. Improving economic conditions coupled with growing recreational spending and credit availability are positively influencing the industry size. Introduction of next generation ORVs are providing a positive outlook for the market expansion. For instance, in August 2019, Jeep launched its upgraded Wrangler off-road SUV.
 

Integration of several sensor systems in off-road tires offering real time data analysis for vehicle users are supporting the demand for such advanced tires. Technologies including TreadStat, Rim Management, and B-Tag Systems for monitoring tire pressure, temperature, for real time data enables the customers to make informed decisions and proactively address potential issues, thereby reducing the operational downtime. Additionally, development of real time data analysis systems such as smart tire and two tire technology will support the industry expansion over the study timeframe.
 

R&D investments in developing new tire materials along with usage of advanced technologies including nanotechnology will provide potential opportunities for the off-road tires market expansion. Introduction of materials including silica provides around 30% reduction in heat built up and 40% lower rolling resistance that enhances the durability of products. Industry players such as Bridgestone Corporation have developed NanoPro-Tech concept that improves fuel efficiency and wet grip performance of tires.
 

Industry participants are expanding their production facilities to meet the product demand along with reduction in the demand supply gap. For instance, in November 2014, Bridgestone Corporation established the manufacturing facility in the U.S. with an investment of around USD 970 million. Additionally, in July 2018, the company announced expansion of OTR production facility at its Bloomington, Ill., plant in the U.S. with an investment of around USD 12 million.
 

Off-road Tires Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 435 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 7% 2025 Value Projection: 705 Billion (USD)
Pages: 451 Tables, Charts & Figures: 630
Geographies covered (21): U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Kuwait, South Africa
Segments covered: Material, Tire Height, Vehicle, Distribution Channel and Region
Companies covered (17): Interco Tire Corporation, The Yokohama Rubber Co. Ltd., JK TYRE & INDUSTRIES LTD., Continental AG, Michelin, Nortec, Maxxis International, Bridgestone Corporation, Sumitomo Rubber Industries, Ltd., Nokian Heavy Tyres Ltd., Omni United, Nexen Tire Corporation, Hankook Tire & Technology Co. Ltd., Cooper Tire & Rubber Company, Toyo Tire Corporation, Pirelli & C. S.p.A., HengFeng Tires
Growth Drivers:
  • North America
  • Increasing AWD/4WD vehicles and off-roading recreational activities
  • Europe
  • Technological advancements in products for enhanced safety
  • Asia Pacific
  • Initiatives to strengthen the agriculture and forestry sector
  • Latin America
  • Improving economic conditions along with increasing off-road endurance racing activities
  • MEA
  • Proliferating construction and mining sector
Pitfalls & Challenges:
  • High initial investment and fluctuating raw material prices

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By Material

In 2018, the synthetic rubber accounted for around 28% share in off-road tires market size owing to usage of styrene butadiene rubber (SBR) and butadiene rubber (BR) in agriculture and mining equipment vehicles. Synthetic rubber offers a cost-effective solution with considerable abrasion resistance. Manufacturers are continuously focusing to develop new raw materials for enhancing the vehicle performance. For instance, in February 2015, LANXESS showcased an innovative solution styrene butadiene rubber (SSBR) including Buna VSL 3038-2HM and Buna FX 3234A-2HM for producing energy-efficient tires.
 

Natural rubber will register a significant growth owing to high strength and the ability to withstand heavy weight under extreme conditions. Increasing preference of natural rubber tires in off-road vehicles offering enhanced performance and stability will escalate the segment penetration over the forecast timeframe. Natural rubber provides increased durability and high flexibility in tough terrains, further influencing the segment growth.
 

By Tire Height

The below 31 inches tire will showcase strong growth owing their usage in SUVs, dirt bikes & quads, and UTVs. Regions including Europe and North America are showcasing higher demand of SUVs along with shifting consumer preferences for vehicles offering higher torque. Continuous introduction of tires with enhanced stability and durability characteristics will support the off-road tires market expansion. For instance, in January 2016, JK Tyre & Industries Ltd launched ranger A/T and H/T premium SUV tires.
 

In 2018, above 45 inches tire was valued over USD 270 billion owing to rising demand of agricultural and OTR vehicles. Mechanization of farming sector, growing mining sector and rising demand for earthmoving machinery will support the product adoption. Industry players are expanding their production facilities to support the growing demand of heavy-duty tires. For instance, in June 2019, Nokian Heavy Tyres Ltd. announced an investment of around USD 82 million for expansion of commercial tire production in Finland. Additionally, industry participants are engaged in agreements with tractor manufacturer to supply tires as OEM fitments.
 

By Vehicle

U.S. Off-road Tire Market by Vehicle, 2018 (USD Million)
U.S. Off-road Tire Market by Vehicle, 2018 (USD Million)

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UTV will foresee significant growth in off-road tires market size owing to the deployment of easily accessible utility vehicles on construction sites. The shifting consumer preference toward utilizing tires offering maximum comfort and long tread life will significantly drive the segment penetration. Further, increasing adoption of UTVs for racing championships and adventure activities is contributing towards product demand.
 

Others segment including mountain bikes and agricultural vehicles leads the industry size owing to the shifting consumer inclination towards utilizing advanced mobility solutions for agriculture applications. New generation tires offer improved load carrying capacity with increased efficiency and lower environmental impacts providing a positive outlook for the segment share over the study timeframe. The growing prominence of advanced mountain bike tires, featuring dual-rubber compounds for enhanced traction will support the industry expansion.
 

By Distribution Channel

The original equipment dominates the off-road tire market size owing to rising off-road vehicle production across the globe. Growing disposable income along with availability of easy financing are attracting potential vehicle buyers to adopt off-road vehicles. Additionally, increasing vehicle launches along with multiple discounts offered by vehicle manufacturers are supporting the vehicle demand. Industry players are working closely with the vehicle manufacturers to understand consumer requirement and develop customized solutions for vehicle manufacturers.
 

Secondary/replacement segment will showcase considerable growth of over 7% over the forecast timeframe due to assertive expansion strategies adopted by several industry players. The manufacturers are establishing retail channels that provide enhanced tire buying experience to customers with improved reliability, and safety. For instance, in June 2015, Bridgestone Corporation inaugurated their third concept store in India to showcase several tire brands including Dueler as off-road tire brand.
 

By Region

Asia Pacific Off-road Tires Industry Size, By Country, 2025, (USD Million)
Asia Pacific Off-road Tires Industry Size, By Country, 2025, (USD Million)

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Asia Pacific holds significant share in the off-road tires market size owing to several infrastructure development projects along with strong agricultural growth. China and India account for major share of global agriculture tractors across the globe and thereby offer lucrative opportunities for the industry expansion. Manufacturers are establishing production facilities in the region for cater to the increasing off-road tires demand and thereby supporting the industry growth. For instance, in May 2018, Yokohama Tire Corp. announced that its subsidiary ATG is investing around USD 300-400 million in establishing its fourth off-road tire production plant in India.
 

North America will witness substantial growth with high inclination towards off-road vehicles including quads and dirt bikes for trailing activities. Rising demand for green vehicles along with presence of several off-road vehicle manufactures are supporting the product demand. Further, strong distribution network across the region will further support the market growth over the forecast timeframe.
 

Competitive Market Share

Key market participants in the off-road tires industry include Bridgestone Corporation, Yokohama Tire Corp, JK Tyre & Industries Ltd., Nokian Heavy Tyres Ltd., and Nortec. Industry players focus on embedding off-road tires with innovative technologies to strengthen their industry foothold. For instance, in July 2015, Michelin introduced tires with comfort casing technology (CCT). The technology provides high shock absorption and reduces driver fatigue. The design optimizes the contact patch size of tire, resulting in improved vehicle performance.
 

Manufacturers are expanding their product portfolio to serve larger consumer base. For instance, in January 2019, Bridgestone Corporation introduced Battlax Adventurecross AX41 to its line-up for off-road driving motorcycles. The strategy will expand their product portfolio, further escalating the off-road tires volume share over the projected timeframe.
 

Industry Background

Regulatory bodies including American Society of Testing & Materials (ASTM), European Tyre & Rubber Manufacturers Association (ETRMA), and Japan Automobile Tyre Manufacturers Association (JATMA) govern off-road tire manufacturing and process safety. Organizations including Automotive Tyre Manufacturer’s Association (ATMA) and Tire and Rubber Association of Canada (TRAC) are specifying guidelines for enhancing product efficiency and quality.


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