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Off-the-road tires Market 2018 Global Industry Forecast To 2

Europe -
Tuesday, August 7th, 2018
by Abhijeet Bendre

Off The Road Tire Market - Forecast To
2023”, is latest Global Off-the-road tire
Market Trends, Size, Share, Sales and
Regional And Industry ****ysis Report,
include historic data, with forecast data to
2023. Off-the-road tire Market research
report is helpful for future strategy
development, and to know about Market
Drivers, Restraints, Opportunities, and key
player’s outlook.

Global Off-the-road tire Market is growing
at growth rate of 6% during forecast period
of four years from 2018. Off-the-road tire
Market is segmented by Construction Type
(Bias, Belted bias and Radial), by Vehicle
type (Mining, Agriculture Vehicles,
Construction and Industrial Equipment and
Others), by distribution channel (OEM and
Aftermarket) And Region in this report.

Get Sample Copy of Report at:
https://www.marketresearchfuture.com/sample_
request/5029

Competitive Landscape

The global Off-the-road tire Market is
highly competitive. The market players are
leveraging various strategies such as
acquisitions, partnerships, and investments
to stay ahead of the competition in the
global Off-the-road tire Market. The market
participants are trying to come up with
advancements in the Off-the-road tire.

Off-the-road tire Market Key Players
****yzed in Report:

Balkrishna Industries (BKT) (India), Apollo
Tyres (India), Bridgestone (Japan), Cheng
Shin Rubber Industry Co (Taiwan),
Continental AG (Germany), and more.

Market Scenario:

Off-the-Road (OTR) tires are usually used in
heavy-duty vehicles such as construction,
agricultural, logistics, and mining industry
and offer traction on unpaved surfaces like
gravel, mud, sand or loose dirt. These tires
are specially built to roll through tough
roads and carry a considerable amount of
load. OTR tires differ in composition and
size depending on the requirement of the job
site environment. They are designed for
large construction vehicles that include
haul trucks, wheel loaders, backhoes,
graders, and trenchers. According to a new
report by Market Research Future (MRFR), the
global OTR tire market is expected to grow
at 6 % CAGR.

There has been a notable growth of the
construction industry in developing
countries that have increased the demand for
material handling and construction
equipment. This is likely to drive the
growth of OTR tires market globally.
Further, national governments and several
regional organizations are focusing on
magnifying the benefits from the mining
sector, which is resulting in increased
mining activities globally. The growth of
construction and mining industry across the
globe is a prime factor driving the demand
for OTR tires.

Moreover, the growth of the market is driven
by the increased use of telescopic handlers,
tractors, wheel loaders, cranes, and special
purpose vehicles. The use of technology for
achieving increased longevity with heat
resistance and reduced rolling resistance
are sure to generate opportunities for the
manufacturers globally. Also, use of heavy
equipment and machinery in mining,
industrial and agricultural sectors
increases the use of mining, agricultural
and mining tires. Increased mechanization
and automation in developing countries along
with improvement in infrastructure in off-
road vehicles is sure to drive the market
during the forecasted period.

Meanwhile, the market also experienced a
drawback due to challenges in the coal
mining segment. With the increasing cost of
coal mining due to various government
regulations, the growth  of off-the-road
tires can be affected. Also, the decline in
crude oil prices has led to weak mining
activities and weak construction, which is
restricting the market growth.

Segmentation:

Globally, the off-the-road tire market can
be segmented on the basis of construction
type, vehicle type, distribution channel and
by regions.

On the basis of construction type, the
market can be segmented into bias, belted
bias and radial. Among these, the bias
segment is expected to hold the largest
market share. Bias tires are constructed
using cross ply and the cords stretch from
bead to bead. Bias tires are preferred over
radial tires as it facilitates the entire
tire to flex. The flexibility offers a
smooth and comfortable ride on rough and
uneven terrains. However, these tires have
less traction and less control at higher
speed.

On the basis of vehicle type, the market can
be segmented into mining, agriculture
vehicles, construction and industrial
equipment and others. The commercial
vehicles are expected to witness a prominent
growth during the forecast period due to the
rise in demand for OTR tires in vehicles
used for tractor applications and off-road
construction.

Based on distribution channel, the market
can be segmented into OEM and aftermarket.
The OEM segment is anticipated to expand at
a fast pace since these tires are used in
bad weather conditions and do not require
frequent replacement. OTR tires require to
be replaced only when they are damaged or
worn out after prolonged use. The market can
also be segmented into North America,
Europe, Asia Pacific and Rest-of-the-World.

Regional ****ysis:

Asia Pacific out of all regions is expected
to dominate the global market. In this
region, China is the leading manufacturer
and has the maximum number of sales, thereby
driving the market growth globally.
Countries like Malaysia, Japan, India, and
Thailand are experiencing a boom in the
sales. The growth in the construction and
agricultural industry in this region is
expected to contribute growth in the off-
the-road tire market globally.

The report for Global Off-the-road tire
Market of Market Research Future covers
extensive primary research. This is
accompanied with detailed ****ysis of
qualitative and quantitative aspects by
various industry experts and key opinion
leaders to gain deeper insights into the
market and industry performance.

Industry Updates:

Balkrishna Industries Ltd. (BKT) is boosting
up its production capabilities of off-the-
road tire plants in India to achieve a 10 %
share in the global market by the end of
2025.

Bridgestone has recently announced that
three of the company’s brand tire lines have
been mentioned as original equipment on the
all-new BMW X3. The company is also
supplying a range of tires in 14 sizes in
its Dueler H/P Sport AS, Blizzak and Alenza
001.

Browse more details on “Off-the-road tire
Market Research Report – Forecast to 2023”
at:
https://www.marketresearchfuture.com/reports
/off-the-road-tire-market-5029

About Market Research Future:

At Market Research Future (MRFR), we enable
our customers to unravel the complexity of
various industries through our Cooked
Research Report (CRR), Half-Cooked Research
Reports (HCRR), Raw Research Reports (3R),
Continuous-Feed Research (CFR), and Market
Research & Consulting Services.

Contact Us:

Amanora Chambers,

Magarpatta Road, Hadapsar

Pune - 411028

Maharashtra, India+1 646 845 9312

sales@marketresearchfuture.com

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