Dublin, Oct. 04, 2021 (GLOBE NEWSWIRE) -- The "Off-the-Road Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global off-the-road tire market exhibited moderate growth during 2015-2020.
The expanding construction industry coupled with rising infrastructural development across diverse geographic locations is augmenting the demand for OTR vehicles. Rising construction activities such as bridges, highways, dams, power supply grids, etc., are further bolstering the OTR tire market.
Moreover, the market is also driven by the increasing adoption of automated machinery for several industrial processes. The prevalent trend of farm mechanization along with the rising demand for off-the-road tractors in the agriculture sector is also driving the market. The increasing adoption of OTR tires in dirt bikes and quads for several recreational purposes is also driving the market.
The market is also being catalyzed by technological advancements. For instance, the rising integration of various sensor-based technologies with OTR tires helps in monitoring tire pressure and temperature and proactively addresses any potential hazards by providing real-time data analysis.
The COVID-19 pandemic outbreak in early 2020, however, has negatively impacted the growth of the off-the-road tire market. Several industrial and construction activities were temporarily halted due to national lockdowns across the globe. Lockdowns also resulted in raw material supply disruption and temporary shutdown of plants manufacturing OTR tires.
From 2021, however, we expect the global off-the-road tire market to recover and to grow at a CAGR of around 5% during 2021-2026.
Key Questions Answered in This Report
How has the global off-the-road tire market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global-off-the-road tire market?
What are the key regional markets?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the tire type?
What is the breakup of the market based on the end-use?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the rim size?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global off-the-road tire market and who are the key players?
What is the degree of competition in the industry?
The competitive landscape of the industry has also been examined with some of the key players being
Balkrishna Industries Limited
Cheng Shin Rubber Ind. Co. Ltd.
China National Tire & Rubber Co. Ltd. (China National Chemical Corporation Limited)
Double Coin Holdings ( Shanghai Huayi Group Corporation Limited)
JK Tyre & Industries Ltd.
Pirelli & C. S.p.A.
The Goodyear Tire & Rubber Company
Titan International Inc.
Yokohama Rubber Co. Ltd
Breakup by Vehicle Type
Construction & Industrial Vehicles
Breakup by Tire Type
Breakup by End-use
Breakup by Distribution Channel
Breakup by Rim Size
Below 29 inches
Above 45 inches
Breakup by Region
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/dd5in6
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