Off-road Tires Market (By Material: Synthetic Rubber, Natural Rubber, Fabrics & Wire, and Carbon Black; By Tire Height: Below 31 inches, 31-40 inches, 41-45 inches, and Above 45 inches; By Vehicle: 4WD, HDT, SUV, UTV, Dirt Bikes & Quad, and OTR; and By Distribution Channel: Original Equipment Manufacturer (OEM), Secondary/Replacement, and Distributor/Dealer Equipped) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030


The global off-road tires market was valued at US$ 469.3 billion in 2021 and is expected to reach over US$ 882.2 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 7.3% from 2021 to 2030.

Off-road Tires Market Size 2020 to 2030

Growth Factors

The off-road tires are commonly used in heavy duty vehicles for off-road applications in the agriculture, mining, and logistics industries, as well as in the housing industry. The development of the housing industry in emerging nations has increased demand for construction and material handling equipment, which is likely to drive the significant growth in the off-road tires market. The increased use of off-road vehicles such as wheel loaders, cranes, telescopic handlers, special purpose vehicles, and tractors is further driving the off-road tires market expansion.

The increased sales of off-highway vehicles and increased farm mechanization are driving the global off-road tires market growth during the forecast period. Furthermore, the global off-road tires market’s growth is hampered by adverse weather conditions and low-cost tires from an unorganized sector. However, the development of environmentally friendly off-road tires is expected to present a lucrative growth opportunity for the industry.

The key market players are diversifying their portfolios in the off-road tires market, as agriculture is expected to generate the highest revenue among all industrial types. The harvester and floater tires, among others, were introduced by Michelin to help maximize harvests.

The off-road tires manufacturers are increasing production capacity for high performance radial tires with long service life and excellent year-round traction. They’re ramping up research and development to include strong and flexible sidewalls as well as self-cleaning connectors for maximum pulling force. In addition, harvester tires are being developed that deliver less pressure, resulting in reduced soil compaction.

The increased in medium-sized farms around the world is driving up demand for agricultural equipment, which in turn is driving up demand for agriculture tires. The transportation activities have increased as a result of increased industrialization around the world. Intercity transportation operations, such as business to business (B2B) and business to consumer (B2C) trade, are increasing, resulting in a demand for compact and rapid transport vehicles to get around the cities efficiently. The global off-road tires market is propelled by aforementioned factors.

The growing global population and increased consumer affluence are expected to push the agriculture sector toward mechanization, boosting the off-road tires market. Increasing technological advancements in tires, such as connected tires and the TeadStat rim management system, which provides information prior to a vehicle breakdown. The off-road tires market is expected to grow as a result of this.

The costing of bias tire is heavily influenced by rawmaterial price volatility. The natural rubber and synthetic rubber prices fluctuate due to a lack of natural rubber cultivation or a surge in the price of crude oil.

Scope of the Off Road Tires Market

Report Coverage Details
Market Size in 2021 US$ 469.3 Billion
Growth Rate from 2021 to 2030 7.3%
Largest Market Asia Pacific
Fastest Growing Market Europe
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Material, Tires Height, Vehicle, Region
Companies Mentioned Hengfeng Rubber, Continental AG, GITI Tire, Triangle Group, Nokian Tires, Toyo Tire, Michelin, Hankook, Yokohama, Maxxis

 

Material Insights

Synthetic rubber is the most extensively utilized material in off-road manufacturing, thus it’s a major source of revenue. The synthetic rubber segment accounted for huge revenue share in 2021, and it is expected to expand at a significant rate until 2030. The widespread of butadiene rubber and styrene-butadiene rubber in mining and agricultural vehicles is a major element is the high market capturing ability. The material’s high strength and abrasion resistance, as well as its low cost, are driving its adoption.

OTR Tires Market Share, By Material, 2021 (%)

Tires Height Insights

By 2030, revenue from tires with a height of more than 45 inches is expected to grow at a significant rate. The growing demand for off-road tires and agricultural vehicles is the main driver of the market growth. Various trends, such as farming mechanization and automation, increasing adoption of heavy machinery, and growing mining activities, are expected to drive the segment penetration. This can also be seen in the steps taken by product manufacturers to meet the rising demand. 

Vehicle Insights

The off-road tires market’s UTV segment has a huge amount of potential and is expected to produce greater demand by 2030. UTV’s functional adaptability when compared to heavier machinery like trucks and tractors is promoting their popularity for a variety of farm operations. The off-road tires market revenue will be driven by a movement in preference toward UTV vehicles because to their simplicity and mobility for completing different chores. Furthermore, the off-road tires market’s growth will be aided by the increasing use of drones in adventure events and racing championships.

Region Insights

Due to various infrastructure development efforts in the region, Asia-Pacific accounts for the largest share in the off-road tires market in 2020. The China and India are leading countries of the Asia-Pacific off-road tires market. China and India’s economic expansion, combined with China’s significant investments in road and other infrastructure development, will fuel the Asia-Pacific regional market demand. However, rising demand from developing nations and strategic measures from key market players are expected to boost the off-road tires market’s growth.

OTR Tires Market Share, By Region, 2021 (%)

Key Developments

  • In 2019, Yokohama’s Galaxy brand produced off-road tire versions for mining vehicles. These tires have cut and heat resistance materials, perhaps attracting more customers looking for long lasting off-road tires.
  • Apollo Tires introduced the nGR bias tire line in 2019. These new tires are fuel-efficient. The company is replacing not just its bias tires but also its PCR tires in light of the new BS-VI rule implemented in developing nations, which necessitated the launch of the new fuel-efficient tires.
  • MICHELIN bought PT Multistrada Arah Sarana TBK, an Indonesian bias tire producer and two-wheeler tires and has a capacity of 250,000 truck tires per year.

The market revenue, market shares, business strategies, recent developments, and growth rates of major businesses holding substantial market shares in the worldwide off-road tires market are all examined. Recent events for these firms, such as new solution, product launches, acquisitions, research activities, geographic expansions, and technological advancements, are taken into account when determining their position in the off-road tires market. All important stakeholders in the off-road tires value chain and technological ecosystem are expected to benefit the growth of the off-road tires market.

The key market players concentrate on developing new technologies that can be used to improve the off-road tires market’s product portfolio. The market players are adopting various marketing strategies for the growth and development of the market during the forecast period. 

Some of the prominent players in the global off-road tires market include:

  • Hengfeng Rubber
  • Continental AG
  • GITI Tire
  • Triangle Group
  • Nokian Tires
  • Toyo Tire
  • Michelin
  • Hankook
  • Yokohama
  • Maxxis

 

Segments Covered in the Report

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

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 Manufacturer (OEM)
  • Secondary/ Replacement
  • Distributor/ Dealer Equipped

By Application

  • Agriculture
  • Construction
  • Material Handling
  • Mining

By Construction Type

  • Solid
  • Radial
  • Belted Bias Tire
  • Bias Tire
  • Non-Pneumatic Tires

By Process

  • Pre-Cure
  • Mold Cure

By Industrial Equipment

  • Forklifts
  • Aisle Trucks
  • Tow Tractors
  • Container Handlers

By Agriculture Tractors

  • <30 HP
  • 31-70 HP
  • 71-130 HP
  • 131-250 HP
  • >250 HP

By Geography

 

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

What is the current size of off-road tires market?
According to Precedence Research, the global off-road tires market size was reached at US$ 469.3 billion in 2021 and is projected to surpass US$ 882.2 billion by 2030.
The global off-road tires market is expected to drive growth at a CAGR of 7.3% from 2021 to 2030.
The development of the housing industry in emerging nations has increased demand for construction and material handling equipment, which is likely to drive the significant growth in the off-road tires market.
The leading players operating in the global off-road tires market are Hengfeng Rubber, Continental AG, GITI Tire, Triangle Group, Nokian Tires, Toyo Tire, Michelin, Hankook, Yokohama, Maxxis.
Asia-Pacific is the largest segment for off-road tires market in terms of region. The increased government investment in construction operations is expected to boost demand for construction vehicles, boosting the off-road tires market across the Asia-Pacific region.

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