Companies in the Global Off-road Tires Market Embrace Technological Advancements to Stay at Forefront in the Market

The off-road tires market is expected to showcase robust growth through 2027 due to mounting popularity of recreational off-roading activities across the globe. Moreover, technological advancements and innovations in product design are likely to further support market growth through the forecast period.
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Off-road tires can carry vehicles over rough terrains like boulders, rocks, mud, dirt, sand, snow, and other uneven surfaces. These tires have specifically designed tread patterns, wherein the grooves between these tread blocks are broader than conventional tires. Their structure makes them more resistant to punctures, which has played a vital role in boosting business growth in recent years.
Following the COVID-19 outbreak, there has been a surge in consumer interest in traveling for leisure to remote and less crowded places in COVID bubbles with the aim of preventing the transmission of the novel coronavirus. Later, the spike in travel to off-road destinations has driven product uptake during the pandemic.
The off-road tires market has been segregated on the basis of material, tire height, vehicle, distribution channel, and region. In terms of material, the market has further been divided into natural rubber, synthetic rubber, carbon black, fabrics & wire, and others. The fabrics & wire sub-segment held a considerable share in the market in 2020 and is anticipated to register a CAGR of approximately 6.6% over the assessment timeframe.
With respect to tire height, the market has been categorized into below 31 inches, 41-45 inches, 31-40 inches, and above 45 inches. The off-road tires industry size from the 31-40 inches sub-segment is slated to exhibit strong growth at a CAGR of around 7.2% through the analysis period. The 41-45 inches sub-segment accounts for a nominal share in the market and is likely to observe a slower growth rate through 2027 than the other segments.
Based on vehicle, the off-road tires market has been segmented into SUV, 4WD HDT, UTV, OTR, dirt bikes & quad, and others. In 2020, the dirt bikes & quad sub-segment garnered a notable valuation and is estimated to grow at around 8.2% CAGR over the review period. Even though dirt bikes & quad generate low demand for off-road tires compared to other vehicles, the segment is likely to record substantial growth in the coming years.
By distribution channel, the off-road tires market has been categorized into secondary/replacement, original equipment, and distributor/dealer equipped. The distributor/dealer equipped sub-segment is set to acquire over 24% share in terms of volume in the market by the end of 2027.
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In the regional landscape, the Latin America off-road tires market accounted for more than 8% of the overall industry revenue in 2020 and is speculated to exhibit significant growth through the forecast timeline.
Report Content
Chapter 1   Methodology and Scope
1.1    Market definition
1.2    Market estimates & working
1.2.1    North America
1.2.2    Europe
1.2.3    Asia Pacific (APAC)
1.2.4    Latin America (LATAM)
1.2.5    Middle East & Africa (MEA)
1.3    Forecast calculations
1.3.1    Covid-19 impact calculations on industry forecast
1.4    Data sources
1.4.1    Primary
1.4.2    Secondary
1.4.2.1    Paid sources
1.4.2.2    Public sources
Chapter 2   Executive Summary
2.1    Off-road tires industry 3600 synopsis, 2017 - 2027
2.1.1    Business trends
2.1.2    Material trends
2.1.3    Tire height trends
2.1.4    Vehicle trends
2.1.5    Distribution channel trends
2.1.6    Regional trends
Chapter 3   Off-road Tires Industry Insights
3.1    Industry segmentation
3.2    Industry ecosystem analysis
3.2.1    Profit margin analysis
3.2.2    Value addition at each step
3.2.3    Distribution channel analysis
3.2.4    Value chain disruptions due to COVID-19
3.2.5    Vendor matrix
3.2.5.1    List of key raw material suppliers
3.2.5.2    List of manufacturers/distributors customers
3.2.5.3    List of key potential customers
3.3    Innovation & sustainability
3.3.1    Technology landscape
3.3.2    Future Trends
3.4    Industry impact forces
3.4.1    Growth drivers
3.4.2    Industry pitfalls & challenges
3.5    Regulatory Landscape
3.5.1    North America
3.5.2    Europe
3.5.3    Asia Pacific
3.5.4    Latin America
3.5.5    Middle East & Africa
3.6    Growth potential analysis, 2020
3.7    Price trends
3.7.1    Cost structure analysis
3.7.1.1    R&D cost
3.7.1.2    Manufacturing & equipment cost
3.7.1.3    Raw material cost
3.7.1.4    Distribution cost
3.7.1.5    Operating cost
3.7.1.6    Miscellaneous cost
3.7.2    Price by material
3.7.3    Price by tire height
3.7.4    Price by vehicle type
3.8    Porter's analysis
3.9    Competitive landscape, 2020
3.9.1    Company market share analysis, 2020
3.9.2    Strategy dashboard
3.10    PESTEL analysis
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