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Off-road Tires Market Share

Report ID: GMI4367
Published Date: Oct 2021
Report Format: PDF

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Off-road Tires Market Share

Prominent participants of the off-road tires industry include :

Yokohama Tire Corp
Nokian Heavy Tyres Ltd
Bridgestone Corporation
JK Tyre & Industries Ltd
Nortec

Many players are engaged in strategic initiatives and research & development activities to incorporate off-road tires with new technologies in order to reinforce their market foothold. For instance, Galaxy, a brand of Yokohama, released new variants of off-road tires for mining vehicles in 2019. These tires consist of cut and heat resistance compounds, thus generating prospects for attracting more consumers seeking durable off-road tires.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of off-road tires accounted for USD 420.5 billion in 2020 and will exhibit a CAGR of 7.5% between 2021 and 2027, says this GMI report.

The synthetic rubber products held around 30% of the revenue share in 2020 and will grow with the extensive usage of BR and SBR in agricultural and mining vehicles.

The above 45-inch off-road tires segment is set to record more than USD 445 billion up to 2027 driven by the surging product requirement in agricultural and OTR vehicles.

The Asia Pacific market accounts for more than 50% share in 2020 and will expand with increasing infrastructure development projects in China, India, and Japan.

Key participants across the industry comprise JK Tyre & Industries Ltd., Nokian Heavy Tyres Ltd., Nortec, Bridgestone Corporation, Yokohama Tire Corp., and others.