DUBLIN, November 30, 2021--(BUSINESS WIRE)--The "India Off-the-Road Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The India off-the-road tire market grew at a CAGR of around 7% in during 2015-2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
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 forecasted period.
Key Questions Answered in This Report:
How has the India off-the-road tire market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on India off-the-road tire market?
What are the key regional markets?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the tire type?
What is the breakup of the market based on the end use?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the rim size?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the India off-the-road tire Market and who are the key players?
What is the degree of competition in the industry?
The competitive landscape of the industry has also been examined with some of the key players being
Apollo Tyres Limited
Balkrishna Industries Limited
JK Tyre & Industries Limited
The Goodyear Tyre & Rubber Company
The Yokohama Rubber Co. Ltd.
Key Market Segmentation:
Breakup by Vehicle Type:
India Off-the-Road Tire Market Share, By Vehicle Type (in US$ Million)
Construction & Industrial
Mining Vehicles 40
Construction & Industrial Vehicles 30
Agricultural Vehicles 20
Construction & Industrial Vehicles
Breakup by Tire Type:
Breakup by End Use:
Breakup by Distribution Channel:
Breakup by Rim Size:
Below 24 inches
Above 56 inches
Breakup by Region:
West & Central India
For more information about this report visit https://www.researchandmarkets.com/r/h65g11
View source version on businesswire.com: https://www.businesswire.com/news/home/20211130005916/en/
Laura Wood, Senior Press Manager
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