Dublin, May 20, 2024 (GLOBE NEWSWIRE) -- The "India Off-the-Road Tire Market Report by Vehicle Type, Tire Type, End Use, Distribution Channel, Rim Size, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The India off-the-road tire market size reached 11.3 Million Units in 2023 and looking forward, the market is projected to reach 20 Million Units by 2032, exhibiting a growth rate (CAGR) of 6.55% during 2023-2032.
Off-the-road (OTR) tires refer to the deeply treaded tires that provide high traction over uneven surfaces, including rock, mud, loose dirt, or gravel. These tires are widely installed in numerous vehicles, including cranes, wheel loaders, telescopic handlers, tractors, all-terrain vehicles (ATVs), military trucks, specialized purpose vehicles, etc. OTR tires provide high heat and rolling resistance, better durability, enhanced vehicular performance, optimum stability, easy mobility, and reduced contact patch area. As a result, they are widely adopted across various sectors, including construction, mining, recreation, agriculture, etc.
In India, a significant growth in the construction industry has led to increasing infrastructural development activities across diverse geographic locations. Owing to this, there is a growing demand for heavy-duty construction vehicles which is further catalyzing the market for OTR tires. Additionally, the Indian government is heavily investing in the development of various commercial infrastructures across the country, such as highways, power supply grids, bridges, dams, etc., thereby augmenting the demand for OTR tires.
In line with this, the elevating levels of urbanization are also driving the adoption of OTR-based cranes, lorries, trucks, etc., in the construction of modern housing complexes, corporate offices, educational facilities, retail centers, etc. Moreover, the expanding agriculture industry in the country has led to the increasing penetration of automated machinery and farm mechanization solutions. The growing adoption of OTR tire-based tractors and loaders in agricultural farms is positively influencing the market in India.
Apart from this, a significant growth in the recreational sector has led to the rising deployment of OTR tires in dirt bikes, quads, ATVs, etc. Moreover, the increasing integration of advanced sensor-based technologies with OTR tires for monitoring tire pressure and temperature is further expected to drive the market growth in India over the forecast period.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the India off-the-road tire market report, along with forecasts at the country and regional level from 2024-2032. The report has categorized the market based on vehicle type, tire type, end use, distribution channel and rim size.
Breakup by Vehicle Type:
- Mining Vehicles
- Construction & Industrial Vehicles
- Agricultural Vehicles
- Others
Breakup by Tire Type:
- Radial Tire
- Bias Tire
Breakup by End Use:
- OEM
- Replacement
Breakup by Distribution Channel:
- Online
- Offline
Breakup by Rim Size:
- Below 24 inches
- 24-30 inches
- 31-35 inches
- 36-39 inches
- 40-50 inches
- 51-55 inches
- Above 56 inches
Breakup by Region:
- North India
- South India
- East India
- West & Central India
Competitive Landscape
The competitive landscape of the industry has also been examined with some of the key players being Apollo Tyres Limited, Balkrishna Industries Limited, Bridgestone Corporation, CEAT Limited, Continental AG, JK Tyre & Industries Limited, Michelin, MRF Limited, The Goodyear Tyre & Rubber Company and The Yokohama Rubber Co. Ltd.
Key Questions Answered in This Report
- How big is the India off-the-road tire market?
- What is the expected growth rate of the India off-the-road tire market during 2024-2032?
- What are the key factors driving the India off-the-road tire market?
- What has been the impact of COVID-19 on the India off-the-road tire market?
- What is the breakup of the India off-the-road tire market based on the vehicle type?
- What is the breakup of the India off-the-road tire market based on the tire type?
- What is the breakup of the India off-the-road tire market based on the end use?
- What is the breakup of the India off-the-road tire market based on the rim size?
- What are the key regions in the India off-the-road tire market?
- Who are the key players/companies in the India off-the-road tire market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 118 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $11.3 Billion |
| Forecasted Market Value (USD) by 2032 | $20 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | India |
Companies Featured
- Apollo Tyres Limited
- Balkrishna Industries Limited
- Bridgestone Corporation
- CEAT Limited
- Continental AG
- JK Tyre & Industries Limited
- Michelin
- MRF Limited
- The Goodyear Tyre & Rubber Company
- The Yokohama Rubber Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/kep5ip
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