Off-road Tires Market Size to surpass $705bn by 2025
Published Date: September 27, 2019 Authors: Kiran Pulidindi, Sayan Mukherjee
Off-road Tires Market size is set to surpass USD 705 billion by 2025; according to a new research report by Global Market Insights, Inc.
Shifting consumer preferences for utilizing ATVs and UTVs for superior driving performance over multiple terrains will support the off-road tires market growth. Ongoing technological advancements in tires with enhanced tread patterns and performance attributes will provide higher durability and heat resistance. Expansion of distributor & dealership network across the globe is expected to fuel the product demand over the study timeline.
Technological advancements including Self-Supporting Runflat (SSR) tire and self-sealing tires will positively influence industry growth. The SSR system prevents tire sidewall damage in accidental situations, thereby enhancing the vehicle safety. Industry players including Continental AG, Michelin, and Pirelli Tyre S.p.A. produce consumer centric products utilizing advanced technologies to strengthen their foothold.
Fluctuating raw material prices owing to the changing government trade policies across the globe will limit the off-road tires market demand. Higher import tariffs on rubber raw materials will restrict the industry expansion. For instance, in April 2018, China imposed higher duties on synthetic rubber imported from the U.S., Singapore, and the European Union.
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Synthetic rubber shall foresee above average industry growth over 7.5% by 2025. Considerable growth in off-road tires market share owing to superior resistance provided against heat and abrasion during vehicle operations. It exhibits longer product life of vehicle tires owing to lesser wear and tear. Properties including flexibility in variable temperature and strong hold against grease and oil are supporting the segment penetration over the forecast timeframe. Moreover, superior flame-resistivity of the tires promotes their suitability for extreme motor sports and off-roading activities, augmenting the product penetration.
Above 45 inches will register significant growth with rising preference of large diameter tires in vehicles including OTR equipment, tractors and combine harvesters for agricultural activities. Industry participants involved in new product launches for increasing their revenue generation will drive the product demand. For instance, in April 2018, Alliance Tire Group introduced new galaxy brand radial tires for off-the-road (OTR) applications.
Browse key industry insights spread across 451 pages with 615 market data tables & 16 figures & charts from the report, “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 (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), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Dirt Bikes & Quad will showcase substantial growth in the market owing to rising recreational activities and dirt bike events across the globe. Availability of several recreational parks and tracks for ATV riding in the North America is escalating the product demand. Tire manufacturers are investing to expand the service portfolio. For instance, in April 2016, Speedways Rubber Co. announced to invest around USD 68 million to manufacture tires for quads.
Original equipment segment will account for a considerable growth in off-road tires market share owing to reliable performance and extended service life. Industry participants are primarily engaged in long term agreements with off-road vehicle manufacturers to strengthen their industry foothold. Surging off-road vehicles product is prominently contributing towards increasing the segment share over the study timeframe.
Europe off-road tires market is likely to exceed USD 15 billion by 2025. Consumer inclination towards adventure activities including forest and camping adventures. Wide presence of adventure trails and racing events will significantly propel the adoption of advanced off-road vehicles, further escalating the product demand.
Key industry participants are Michelin, Continental AG, JK Tyre & Industries Ltd., and Sumitomo Rubber Industries, Ltd. The increasing demand for off-road tires provides potential opportunities for the expansion of production facilities for serving a large consumer base. For instance, in February 2016, Bridgestone Canada Inc announced the expansion of its manufacturing facility (Canada) for producing large diameter tires for 4-WD HDT and SUVs.
The Off-road tires market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD million from 2014 to 2025, for the following segments:
By Material (Kilo Tons) (USD Million)
- Synthetic Rubber
- Natural Rubber
- Fabrics & Wire
- Carbon Black
By Tire Height (Thousand Units) (USD Million)
- Below 31 Inches
- 31-40 Inches
- 41-45 Inches
- Above 45 Inches
By Vehicle (Thousand Units) (USD Million)
- 4WD HDT
- Dirt Bikes & Quad
By Distribution Channel (Thousand Units) (USD Million)
- Original equipment
- Distributor/dealer equipped
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa