Off-road Tires Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

The Global Off-road Tires Market size was registered at USD 459.6 Billion in 2021 and is expected to reach the value of USD 849.3 Billion by 2030, growing at a CAGR of 7.3% during the forecast period from 2022 to 2030.

Off-Road tires are generally thought to be useful for stability and grip on unpaved terrains such as sand, mud, dirt, and others. Off-road tires are widely used in structural engineering, gravel and gravel mining, agriculture, dam construction, and a variety of other industries. Off-road tires are designed with a heavy-duty traction pattern, blocky sidewalls, and puncture-resistant partition walls to withstand rock smashing while maintaining a grip on mud and other debris. However, the expansion of the construction and mining industry in emerging nations has increased demand for building and handling of materials machinery, which is predicted to significantly boost the growth of the off-road tire market.

Off-road Tires Market Dynamics

Drivers

• Higher sales for AWD/4WD and UTV vehicles
• Rising individual attention in off-road leisure activities
• Technological innovations in products for improved reliability
• Initiatives to improve the agriculture and forestry sectors

Restraints

• Price fluctuations in raw materials
• High initial outlay

Opportunity

• Better economic conditions, as well as increased off-road endurance racing activity
• Experiencing exponential growth construction and mining industry

Report Coverage

The off-road tire market has significant potential and is expected to increase over the forecast period, owing to the advancement of industrialization and increasing urbanization, particularly in emerging nations such as India and China. Furthermore, increased global demand for modern agricultural vehicles, as well as advancements in farm mechanization, particularly in emerging economies, are influencing the growth of the off-road tire market. Furthermore, the increase in government expenditures on various agricultural items of machinery and machinery, resulting in high consumption of off-road tires globally, is predicted to fuel the off-road tires market expansion. Furthermore, increased demands for off-highway vehicles in advanced and emerging nations, as well as an increase in worldwide construction activity, are expected to boost the growth of the off-road tires market during the forecast period.

However, the market for off-road tires has certain constraints that are expected to stymie the market's potential growth, such as fluctuating raw material availability and an increase in the gap between OTR tires producers and consumers, while extreme weather events and customization options are expected to challenge the market's growth during the forecast period.

Off-road TiresMarket Segmentation

The global off-road tires market segmentation is based on the material, tire height, vehicle, distribution channel and geography.

Market by Material

• Synthetic Rubber
• Carbon Black
• Fabrics & Wire
• Natural Rubber
• Others

Based on the material, the synthetic rubber segment is predicted to develop the fastest in the coming years. The synthetic segment is further segmented into butadiene rubber and styrene-butadiene rubber. Furthermore, synthetic rubber benefits tire in a variety of ways, including control, hold, safety, and convenience. Similarly, having additional features such as friction resistance, impact resistance, fuel efficiency, course stability, puncture resistance, steering response, wet traction, and weather resistance allows such tires to operate in difficult settings. On the other hand, the widespread usage of styrene-butadiene and butadiene polymers in agricultural and mining vehicles considerably adds to the high market capture ability. The material's superior compressive and flexural tolerances, as well as its affordable cost, are driving its widespread adoption.

Market by Tire Height

• Below 31 Inches
• 31-40 Inches
• 41-45 Inches
• Above 45 Inches

In terms of tire height, the above 45-inch segment will dominate the market in 2021. The primary growth driver is the rising demand for Industrial and commercial trucks. Various developments, such as agribusiness mechanization and automation, increasing mining and infrastructure development activity, growing technology in agricultural applications, and higher use of heavy machinery, are likely to promote segment penetration.

Market by Vehicle

• 4WD HDT
• Dirt Bikes & Quad
• UTV
• SUV
• OTR
• Others

In terms of vehicles, the UTV segment is predicted to dominate the off-road tire market in 2021. Utility terrain vehicles (UTVs) are driven primarily by their potential to serve as off-road vehicles and transit equipment. The off-road tire must be capable of maneuvering past obstacles and traversing rough terrain. Handling equipment must be sturdy enough to transport cargo while remaining above softer soil. These vehicles are usually equipped with a roll-over protection mechanism.  Utility terrain vehicles are mostly used for leisure and recreation. These are also used in many industries, including forestry, military and defense, and agriculture. However, the growing customer preference for offload recreational activities is propelling the utility terrain vehicle segment forward. 

Market by Distribution Channel

• OEMs
• Aftermarket

Based on the distribution channel, the aftermarket segment is predicted to have considerable market shares in the coming years. Off-road tires have a shorter lifespan than other types of tires. As a result, the aftermarket segment holds a larger share of the market. Consumers' rising spending power, a better understanding of vehicle maintenance, and a rise in aftermarket dealers are all helping the aftermarket tire business. Furthermore, increased agricultural mechanization and significant development in professional farm operations are driving increasing demand for aftermarket tires.

Off-road Tires Market Regional Overview

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Latin America

• Mexico
• Brazil
• Rest of Latin America

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

The Middle East & Africa (MEA)

• Gulf Cooperation Council (GCC)
• South Africa
• Rest of the Middle East & Africa