Off-road Tires Market Analysis and Industry Forecast Report Till 2025

By Ronak Bora

Off-road tires market growth will be driven by growing demand for construction vehicles. Ever-increasing construction activities across the globe will necessitate deployment of heavy-duty rock trucks and excavators further fueling product demand. Significantly rising investments toward residential and commercials buildings will support the industry trends throughout the forecast timeframe.
Off-road tires are also used for the ATVs and UTVs, which were previously considered for off-road sports or leisure travels only. But presently, these vehicles have started showing up just as commonly as regular vehicles owing to easy maneuverability, light weight structure, high fuel efficiency and low cost of ownership.
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Ongoing technological advancements in product manufacturing will stimulate off-road tires market trends. New generation tires will boast of enhanced tread patterns and performance attributes and will provide higher durability and heat resistance over the predecessor. Consistently expanding distributor & dealership network across the globe will also foster product penetration over the study timeline.
Furthermore, growing innovations to develop advanced product portfolio featuring self-sealing tires, and Self-Supporting Runflat (SSR) tire systems will positively influence business growth. The implementation of SSR system improves the safety of vehicle as it prevents the damage to side walls of tires in crunch situations. Rising adoption of advanced tire manufacturing techniques among the prominent Industry players including Michelin, Continental AG, and Pirelli will help expanding the consumer base for these specialty tires.
However, consistently changing regional trade policies and fluctuating raw material prices may negatively affect the product demand over the forecast timeframe. Some countries levy high import tariffs on rubber raw materials which should increase the product price, restricting the industry expansion. For instance, in 2018, China increased the import duties on synthetic rubber coming from the U.S., Singapore, and the European Union. Though the current scenario of global trade war may restrain off-road tires market demand, the expansion of production facilities across the globe will help countering this negativity.
Based on raw materials, synthetic rubber segment is projected to substantially grow over 7.5% CAGR through 2025. The growth is attributed to superior heat and abrasion resistance provided by the material during vehicle operations. Moreover, the tires built from synthetic rubber exhibits longer lifecycle owing to lesser wear and tear. The way these products withstand variable temperatures and permit strong hold over slippery surfaces, it will support the segment penetration over the forecast timeframe.
The product is utilized for several off road vehicle types such as SUV, UTV, 4WD, HDT, Dirt Bikes & Quad and OTR. Pertaining to rising recreational activities and dirt bike events hosted across the globe, the Dirt Bikes & Quad segment is presumed to witness substantial gains in the off-road tires market. The increasing development of recreational parks and tracks for ATV will escalate the product demand.
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Charts & Figures
FIG. 1    Off-road tires market segmentation
FIG. 2    Industry landscape, (Thousand Units) (USD Million), 2014 – 2025
FIG. 3    Industry ecosystem analysis
FIG. 4    Value addition
FIG. 5    Growth potential analysis, 2018
FIG. 6   Off-road tires market Price by material, 2014–2025 (USD/Kilo)
FIG. 7    Price by tire height, 2014–2015 (USD/Tire)
FIG. 8    Price by vehicle, 2014-2025, (USD/Tire)
FIG. 9    Company market share analysis, 2018
FIG. 10    Porter’s analysis
FIG. 11    PESTLE analysis
FIG. 12    Market volume share by material, 2018 & 2025
FIG. 13    Market volume share by tire height, 2018 & 2025
FIG. 14    Market volume share by vehicle, 2018 & 2025
FIG. 15    Market volume share by distribution channel, 2018 & 2025
FIG. 16    Off-road tires market share by region, 2018 & 2025
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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