Automotive Industry Today
Off The Road Tire Market To Perceive Huge Accretions | CAGR of 6% By 2023
Global Off-the-road tire market Information 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 - Forecast To 2023
Published 07 February 2018
Market Research Future published a research report on “Off The Road Tire Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Global Off-the-road tire market Information 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 - Forecast To 2023
Apollo Tyres (India), Balkrishna Industries (BKT) (India), Bridgestone (Japan), Cheng Shin Rubber Industry Co (Taiwan), Continental AG (Germany), Giti Tire (Singapore), The Goodyear Tire & Rubber Company (U.S.), JK Tyre & Industries Ltd (India), Michelin (France), Nokian Tyres plc (Finland), Pirelli & C. S.p.A. (Italy), The Titan Tire Corporation (U.S.), Toyo Tire & Rubber Co., Ltd. (Japan), Trelleborg AB (Sweden) and The Yokohama Rubber Company (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Off-the-road tire market.
Off-the-road tire market – Overview
The global Off-the-road tire market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of Off-the-road tire market is influenced by the implementation of stringent vehicular emission and fuel economy norms. Government of various countries have taken initiatives to promote the manufacturing and adoption of tires by the manufacturers for controlling such harmful emissions. Therefore, the introduction of stringent vehicular emission and fuel economy norms drive the growth of the off-the-road tire market. Tires are important for the energy required to operate vehicles. The resistive forces experienced by the vehicle in motion are due to rolling resistance of tires. Tires with lower rolling resistance result in less vehicle fuel consumption. Also, the growth in the construction and mining sector along with the increase in the production of off-the-road vehicles is expected to spur the growth of the market. The growth of this market can be attributed to the enhanced properties of the tire for offering substantial support to the machinery which is being used in various civil engineering sites, which includes earth and gravel at mining and dam construction sites, ultra-large dump trucks and even bulldozers and graders for road construction and snow removal.
The global off-the-road tire market is projected to grow at the CAGR of ~6%.
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Off-the-road tire market – Competitive Analysis
The Off-the-road tire market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality Off-the-road tires, in order to survive and succeed in an intensely competitive market environment.
The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services. The international players may strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecast that improvement of the global economic scenario combined with efforts to enhance infrastructure in emerging nations, is fueling the market growth.
Industry/ Innovation/ Related News:
March 2017- Continental Commercial Specialty Tires (CST) is presenting its first solid Off-The-Road (OTR) tire at the 2017 CONEXPO-CON/AGG trade show. The TeleMaster was developed for the specific demands of Telehandlers used in a variety of environments such as commercial and residential construction sites.
Nov 2014- Bridgestone opens off-road giant tire plant in Aiken County, where the company will manufacture heavy-duty tires for earthmover vehicles. The new tire plant is a $1.2 billion local investment the company announced three years ago.
June 2013- Apollo Tyres Ltd and Cooper Tire & Rubber Company announced the execution of a definitive merger agreement under which a wholly-owned subsidiary of Apollo will acquire Cooper in an all-cash transaction valued at approximately Rs 14,500 crores.
June 2012- The Goodyear Tire & Rubber Company demonstrated its commitment to its global Off-The-Road (OTR) tire business by announcing a major expansion in Japan. The company has acquired 100 percent ownership of its Nippon Giant Tire (NGT) subsidiary in Tatsuno, Japan. Goodyear, the majority shareholder of NGT since 1985, has purchased the shares owned by its joint venture partners, Toyo Tire & Rubber Co., Ltd. and Mitsubishi Corporation, for an undisclosed amount.
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Off-the-road tire market – Segmentation
The Off-the-road tire market can be segmented in three key dynamics for the convenience of the report and enhanced understanding
Segmentation by Construction Type - Bias, Belted bias and Radial
Segmentation by Vehicle Type- Mining, Agriculture Vehicles, Construction and Industrial Equipment and Others
Segmentation by distribution channel- OEM and Aftermarket
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Off-the-road tire market – Regional Analysis
Asia Pacific region is expected to dominate the global off-the-road tire market. The region is expected to grow with the rise in adoption of the off-the-road vehicles and tires in the developing countries such as China, Japan and South Korea among others. All these factors are contributing to the growth of the Off-the-road tires market in the region. In Asia Pacific region, China is expected to account for the largest market share. Many international tire manufactures have established there manufacturing base in the country, which is also leading to the decreased price of tires in the region. The region of North America and Europe are also expected to experience significant growth over the forecast period.
Ask for your specific company profile and country level customization on reports.
Access Full Report @ https://www.marketresearchfuture.com/reports/off-the-road-tire-market-5029
About Us:
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.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for , regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Global Off-the-road tire market Information 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 - Forecast To 2023
Apollo Tyres (India), Balkrishna Industries (BKT) (India), Bridgestone (Japan), Cheng Shin Rubber Industry Co (Taiwan), Continental AG (Germany), Giti Tire (Singapore), The Goodyear Tire & Rubber Company (U.S.), JK Tyre & Industries Ltd (India), Michelin (France), Nokian Tyres plc (Finland), Pirelli & C. S.p.A. (Italy), The Titan Tire Corporation (U.S.), Toyo Tire & Rubber Co., Ltd. (Japan), Trelleborg AB (Sweden) and The Yokohama Rubber Company (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Off-the-road tire market.
Off-the-road tire market – Overview
The global Off-the-road tire market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of Off-the-road tire market is influenced by the implementation of stringent vehicular emission and fuel economy norms. Government of various countries have taken initiatives to promote the manufacturing and adoption of tires by the manufacturers for controlling such harmful emissions. Therefore, the introduction of stringent vehicular emission and fuel economy norms drive the growth of the off-the-road tire market. Tires are important for the energy required to operate vehicles. The resistive forces experienced by the vehicle in motion are due to rolling resistance of tires. Tires with lower rolling resistance result in less vehicle fuel consumption. Also, the growth in the construction and mining sector along with the increase in the production of off-the-road vehicles is expected to spur the growth of the market. The growth of this market can be attributed to the enhanced properties of the tire for offering substantial support to the machinery which is being used in various civil engineering sites, which includes earth and gravel at mining and dam construction sites, ultra-large dump trucks and even bulldozers and graders for road construction and snow removal.
The global off-the-road tire market is projected to grow at the CAGR of ~6%.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/5029
Off-the-road tire market – Competitive Analysis
The Off-the-road tire market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality Off-the-road tires, in order to survive and succeed in an intensely competitive market environment.
The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services. The international players may strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecast that improvement of the global economic scenario combined with efforts to enhance infrastructure in emerging nations, is fueling the market growth.
Industry/ Innovation/ Related News:
March 2017- Continental Commercial Specialty Tires (CST) is presenting its first solid Off-The-Road (OTR) tire at the 2017 CONEXPO-CON/AGG trade show. The TeleMaster was developed for the specific demands of Telehandlers used in a variety of environments such as commercial and residential construction sites.
Nov 2014- Bridgestone opens off-road giant tire plant in Aiken County, where the company will manufacture heavy-duty tires for earthmover vehicles. The new tire plant is a $1.2 billion local investment the company announced three years ago.
June 2013- Apollo Tyres Ltd and Cooper Tire & Rubber Company announced the execution of a definitive merger agreement under which a wholly-owned subsidiary of Apollo will acquire Cooper in an all-cash transaction valued at approximately Rs 14,500 crores.
June 2012- The Goodyear Tire & Rubber Company demonstrated its commitment to its global Off-The-Road (OTR) tire business by announcing a major expansion in Japan. The company has acquired 100 percent ownership of its Nippon Giant Tire (NGT) subsidiary in Tatsuno, Japan. Goodyear, the majority shareholder of NGT since 1985, has purchased the shares owned by its joint venture partners, Toyo Tire & Rubber Co., Ltd. and Mitsubishi Corporation, for an undisclosed amount.
Enquiry before Buying @ https://www.marketresearchfuture.com/enquiry/5029
Off-the-road tire market – Segmentation
The Off-the-road tire market can be segmented in three key dynamics for the convenience of the report and enhanced understanding
Segmentation by Construction Type - Bias, Belted bias and Radial
Segmentation by Vehicle Type- Mining, Agriculture Vehicles, Construction and Industrial Equipment and Others
Segmentation by distribution channel- OEM and Aftermarket
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Off-the-road tire market – Regional Analysis
Asia Pacific region is expected to dominate the global off-the-road tire market. The region is expected to grow with the rise in adoption of the off-the-road vehicles and tires in the developing countries such as China, Japan and South Korea among others. All these factors are contributing to the growth of the Off-the-road tires market in the region. In Asia Pacific region, China is expected to account for the largest market share. Many international tire manufactures have established there manufacturing base in the country, which is also leading to the decreased price of tires in the region. The region of North America and Europe are also expected to experience significant growth over the forecast period.
Ask for your specific company profile and country level customization on reports.
Access Full Report @ https://www.marketresearchfuture.com/reports/off-the-road-tire-market-5029
About Us:
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.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for , regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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