OTR Tires Market Insights and Growth by 2031
OTR tire denotes a precise category of tires that increase the traction in unpaved surfaces with gravel, mud, sand or loose dirt. These tires are equipped with profound tread patterns that help in the vehicle traction in off-road conditions or high terrains off road. The off-road tire can be further divided into different sections, such as tire tread, inner liner, tire casing, and sidewall. OTR tire market is anticipated grow remarkably all over the world in coming years.
MARKET SCOPE
The "Global OTR Tires Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the OTR tires market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading OTR tires market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global OTR tires market market is segmented into wheeled, and rubber tracks.
- On the basis of application, the market is segmented into agricultutral tractors, industrial equipment, construction and mining equipment, and others.
Drivers
- Increase in construction activities, government subsidies on agriculture equipment.
- Increasing farm mechanization are some of the major factors driving the growth of the off the road tires market.
- Vast expenditure incurred in research and development is likely to hamper the OTR tires market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The OTR tires market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the OTR tires market in these regions.
IMPACT OF COVID-19 ON OTR TIRES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The OTR tires market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the OTR tires market in these regions.
IMPACT OF COVID-19 ON OTR TIRES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the OTR tires market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from OTR tires market market are anticipated to lucrative growth opportunities in the future with the rising demand for OTR tires market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the OTR tires market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Continental
- Bridgestone
- Michelin
- Goodyear
- Pirelli
- Yokohama
- Sumitomo
- Hankook Tire
- Nokian
- CEAT
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 OTR Tires Market - By Type
1.3.2 OTR Tires Market - By Application
1.3.3 OTR Tires Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. OTR TIRES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. OTR TIRES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. OTR TIRES MARKET - GLOBAL MARKET ANALYSIS
6.1. OTR TIRES - GLOBAL MARKET OVERVIEW
6.2. OTR TIRES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OTR TIRES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. WHEELED
7.3.1. Overview
7.3.2. Wheeled Market Forecast and Analysis
7.4. RUBBER TRACKS
7.4.1. Overview
7.4.2. Rubber Tracks Market Forecast and Analysis
8. OTR TIRES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. AGRICULTURAL TRACTORS
8.3.1. Overview
8.3.2. Agricultural Tractors Market Forecast and Analysis
8.4. INDUSTRIAL EQUIPMENT
8.4.1. Overview
8.4.2. Industrial Equipment Market Forecast and Analysis
8.5. CONSTRUCTION AND MINING EQUIPMENT
8.5.1. Overview
8.5.2. Construction and Mining Equipment Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. OTR TIRES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America OTR Tires Market Overview
9.1.2 North America OTR Tires Market Forecasts and Analysis
9.1.3 North America OTR Tires Market Forecasts and Analysis - By Type
9.1.4 North America OTR Tires Market Forecasts and Analysis - By Application
9.1.5 North America OTR Tires Market Forecasts and Analysis - By Countries
9.1.5.1 United States OTR Tires Market
9.1.5.1.1 United States OTR Tires Market by Type
9.1.5.1.2 United States OTR Tires Market by Application
9.1.5.2 Canada OTR Tires Market
9.1.5.2.1 Canada OTR Tires Market by Type
9.1.5.2.2 Canada OTR Tires Market by Application
9.1.5.3 Mexico OTR Tires Market
9.1.5.3.1 Mexico OTR Tires Market by Type
9.1.5.3.2 Mexico OTR Tires Market by Application
9.2. EUROPE
9.2.1 Europe OTR Tires Market Overview
9.2.2 Europe OTR Tires Market Forecasts and Analysis
9.2.3 Europe OTR Tires Market Forecasts and Analysis - By Type
9.2.4 Europe OTR Tires Market Forecasts and Analysis - By Application
9.2.5 Europe OTR Tires Market Forecasts and Analysis - By Countries
9.2.5.1 Germany OTR Tires Market
9.2.5.1.1 Germany OTR Tires Market by Type
9.2.5.1.2 Germany OTR Tires Market by Application
9.2.5.2 France OTR Tires Market
9.2.5.2.1 France OTR Tires Market by Type
9.2.5.2.2 France OTR Tires Market by Application
9.2.5.3 Italy OTR Tires Market
9.2.5.3.1 Italy OTR Tires Market by Type
9.2.5.3.2 Italy OTR Tires Market by Application
9.2.5.4 United Kingdom OTR Tires Market
9.2.5.4.1 United Kingdom OTR Tires Market by Type
9.2.5.4.2 United Kingdom OTR Tires Market by Application
9.2.5.5 Russia OTR Tires Market
9.2.5.5.1 Russia OTR Tires Market by Type
9.2.5.5.2 Russia OTR Tires Market by Application
9.2.5.6 Rest of Europe OTR Tires Market
9.2.5.6.1 Rest of Europe OTR Tires Market by Type
9.2.5.6.2 Rest of Europe OTR Tires Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific OTR Tires Market Overview
9.3.2 Asia-Pacific OTR Tires Market Forecasts and Analysis
9.3.3 Asia-Pacific OTR Tires Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific OTR Tires Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific OTR Tires Market Forecasts and Analysis - By Countries
9.3.5.1 Australia OTR Tires Market
9.3.5.1.1 Australia OTR Tires Market by Type
9.3.5.1.2 Australia OTR Tires Market by Application
9.3.5.2 China OTR Tires Market
9.3.5.2.1 China OTR Tires Market by Type
9.3.5.2.2 China OTR Tires Market by Application
9.3.5.3 India OTR Tires Market
9.3.5.3.1 India OTR Tires Market by Type
9.3.5.3.2 India OTR Tires Market by Application
9.3.5.4 Japan OTR Tires Market
9.3.5.4.1 Japan OTR Tires Market by Type
9.3.5.4.2 Japan OTR Tires Market by Application
9.3.5.5 South Korea OTR Tires Market
9.3.5.5.1 South Korea OTR Tires Market by Type
9.3.5.5.2 South Korea OTR Tires Market by Application
9.3.5.6 Rest of Asia-Pacific OTR Tires Market
9.3.5.6.1 Rest of Asia-Pacific OTR Tires Market by Type
9.3.5.6.2 Rest of Asia-Pacific OTR Tires Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa OTR Tires Market Overview
9.4.2 Middle East and Africa OTR Tires Market Forecasts and Analysis
9.4.3 Middle East and Africa OTR Tires Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa OTR Tires Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa OTR Tires Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa OTR Tires Market
9.4.5.1.1 South Africa OTR Tires Market by Type
9.4.5.1.2 South Africa OTR Tires Market by Application
9.4.5.2 Saudi Arabia OTR Tires Market
9.4.5.2.1 Saudi Arabia OTR Tires Market by Type
9.4.5.2.2 Saudi Arabia OTR Tires Market by Application
9.4.5.3 U.A.E OTR Tires Market
9.4.5.3.1 U.A.E OTR Tires Market by Type
9.4.5.3.2 U.A.E OTR Tires Market by Application
9.4.5.4 Rest of Middle East and Africa OTR Tires Market
9.4.5.4.1 Rest of Middle East and Africa OTR Tires Market by Type
9.4.5.4.2 Rest of Middle East and Africa OTR Tires Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America OTR Tires Market Overview
9.5.2 South and Central America OTR Tires Market Forecasts and Analysis
9.5.3 South and Central America OTR Tires Market Forecasts and Analysis - By Type
9.5.4 South and Central America OTR Tires Market Forecasts and Analysis - By Application
9.5.5 South and Central America OTR Tires Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil OTR Tires Market
9.5.5.1.1 Brazil OTR Tires Market by Type
9.5.5.1.2 Brazil OTR Tires Market by Application
9.5.5.2 Argentina OTR Tires Market
9.5.5.2.1 Argentina OTR Tires Market by Type
9.5.5.2.2 Argentina OTR Tires Market by Application
9.5.5.3 Rest of South and Central America OTR Tires Market
9.5.5.3.1 Rest of South and Central America OTR Tires Market by Type
9.5.5.3.2 Rest of South and Central America OTR Tires Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. OTR TIRES MARKET, KEY COMPANY PROFILES
11.1. BRIDGESTONE CORPORATION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CEAT LTD.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CONTINENTAL AG
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. HANKOOK TIRE
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MICHELIN SCA
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NOKIAN HEAVY TYRES LTD
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. PIRELLI (PROMETEON TYRE GROUP)
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. TBC CORPORATION (SUMITOMO)
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. THE GOODYEAR TIRE AND RUBBER COMPANY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. YOKOHAMA RUBBER COMPANY
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Bridgestone Corporation
2. CEAT Ltd.
3. Continental AG
4. Hankook Tire
5. Michelin SCA
6. Nokian Heavy Tyres Ltd
7. Pirelli (Prometeon Tyre Group)
8. TBC Corporation (Sumitomo)
9. The Goodyear Tire and Rubber Company
10. Yokohama Rubber Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For