January 02, 2020
According to the research report titled ‘Off-road Tires Market Size By Material (Synthetic Rubber, Natural Rubber, Fabrics & Wire, Carbon Black), By Tire Height (Below 31 Inches, 31-40 Inches, 41-45 Inches, Above 45 Inches), By Vehicle (4WD HDT, SUV, UTV, Dirt Bikes & Quad, OTR), By Distribution Channel (Original Equipment, Secondary/Replacement, Distributor/Dealer Equipped), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Kuwait, South Africa), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global off-road tires market is expected to cross USD 705 billion by the year 2025.
Rising adoption of radial tires with low roll resistance and flexible side walls are driving the off-road tires market growth. Various governments across the globe are promoting the benefits of product through tire labelling regulations. This factor, coupled with growing consumer awareness regarding safety, service life and vehicle efficiency is also aiding the expansion of the market. Increasing deployment of heavy-duty trucks in mining and construction sector is augmenting the demand for off-road tires across the globe.
As per material type, carbon black material segment is expected to register considerable growth during the estimated timeframe. The material plays a crucial role in improving the performance of off-road tires by providing abrasion resistance and lowering treadwear. Carbon black also improves the handling aspect of the vehicle, thereby stimulating the segmental growth.
The report cites that off-road tires segment with height between 31-40 inches will witness significant growth during the forecast period. The product offers enhanced performance in all riding conditions and is extensively used for mountain bikes. Moreover, these tires offer triple layer compounding, high-volume casting and fast rolling tread design which play a vital role during off-road cycling competitions. Thus, rising adoption of mountain bikes for various sports activities is fueling the growth of the segment.
Speaking of type of vehicles, increasing racing and motor sport activities is contributing towards the popularity of dirt bikes and quads. Easy availability of these vehicle through a wide network of distributors and dealers, coupled with growing inclination towards high-performance tires is aiding the segmental outlook.
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Based on distribution channel, secondary/replacement segment is expected to grow substantially due to surging need for frequent replacements and upgrades of tires. Furthermore, secondary tires offer improved safety, performance, and traction control, thereby facilitating the segmental growth.
Considering geographical landscape, North America off-road tires market will expand significantly owing to rising adoption of 4WD vehicles in recreational and off-roading activities. Shifting trend of outdoor events, in tandem with growing need for 4WD vehicles in forest lands and adventure parks are driving the North America market.
The prominent companies operating in off-road tires market are Sumitomo Rubber Industries, Bridgestone, Michelin, Continental AG, JK Tyre, and Yokohama Rubber among others.
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