Industry Background:
Off-road tires refer to vehicle tires with a deep tread to deliver more traction on unpaved surfaces such as sand, mud, and loose dirt. Manufacturers are focusing on the new product launch in the off-road tire market. For instance, JK Tyre launches a new variant for off-the-road tire, my Champion for the Wheel loaders and tipper trucks used in mining applications. Moreover, rising demand from the end-use industries including construction, mining, agricultural, and others further propelling the market demand.
This growth is primarily driven by Increasing Demand for Electric Warehouse Truck and Growing Demand for Agricultural Tractors and Equipment.
Globally, a noticeable market trend is evident Rise in Adoption of Radial Tires
. Major Vendors, such as Bridgestone Corporation (Japan), Continental AG (Germany), Pirelli & C. S.p.A (Italy), Michelin (France), The Goodyear Tire & Rubber Co. (United States), Sumitomo Rubber Industries, Ltd. (Japan), Madras Rubber Factory Limited (India), The Yokohama Rubber Co. Ltd. (Japan), JK Tire & Industries Ltd. (India), CEAT Ltd. (India), Sumitomo Rubber Industries (Japan), Zhongce Rubber Group Co., Ltd. (China) and Nokian Tyres (Finland) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
27th May 2019, Mitas Tyres Ltd. launched mousse, an alternative to inner tubes, for its off-road racing tires to expand its off-road tire product portfolio.
Market Drivers
- Increasing Demand for Electric Warehouse Truck
- Growing Demand for Agricultural Tractors and Equipment
Market Trend
- Rise in Adoption of Radial Tires
- Emphasizing On the Development of Manufacturing Process of Tyres
Restraints
- Fluctuating Raw Material Prizes
Opportunities
Increasing Demand from Mining and Construction Industries and Rising Demand from the Developing Economies
Challenges
Bulging Sidewalls of Tyres
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Off Road Tires Study Sheds Light on
The Off Road Tires Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Off Road Tires industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Off Road Tires industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.