Off-The-Road (OTR) tires are used on heavy machinery at construction, mining, and other sites where roads are unavailable. They are essential for navigating rough terrains like sand, boulders, dirt, rocks, mud, snow, and other uneven surfaces. These tires have specifically designed tread patterns that help in improving traction. Additionally, off-road tires feature reinforced sidewalls to provide excellent resistance to punctures. OTR tires are particularly efficient for equipment utilized in ports and terminals. Solid tires are a type of tire that does not require air, making them non-pneumatic. They are commonly used in industrial applications and are well-suited for use on forklifts, heavy-duty transport vehicles, platform trucks, and other industrial vehicles. On the other hand, solid tires are designed explicitly for slow-moving industrial machinery that involves heavy lifting.
The increasing demand for OTR vehicles is driven by the expanding construction industry and infrastructure development in diverse locations. Notably, the construction of bridges, highways, power supply grids, dams, and other projects contributes to the growth of the OTR tire market. Additionally, the market is stimulated by the growing use of automated machinery in various industrial processes. The agricultural sector's trend towards farm mechanization and the rising need for OTR tractors also propel the market. Moreover, the market experiences a boost from the rising usage of OTR tires in recreational activities such as dirt bikes and quads.
The companies are investing in research and development of the OTR tires and launching new series. For instance, in April 2023, Maxam Tire announced advancements in OTR tires used in the construction industry. It added four all-steel radial series, MS901R, MS907R, MS906R, and MS917R, to its product portfolio. These tires are constructed using all-steel radial materials, performing better than the standard bias series. Additionally, in April 2023, Yokohama Off-Highway Tires (YOHT) announced a new partnership with one of the leading wholesalers, Norgesdekk, to supply one of the strongest off-highway tire brands in the Norwegian market. This partnership is in addition to NDI Group A/S, the brand's long-standing strategic partner in the Nordics for almost 40 years.
Asia Pacific is anticipated to be one of the leading regions in the OTR market. The region has two of the highest populated and many developing countries undergoing extensive construction. Hence, the demand for OTR tires is high in the region and is expected to rise exponentially. For instance, the Indian government has invested USD 122 billion in infrastructure development for 2023-24. It is expected to drive the OTR tires market significantly, owing to the need for OTR tires for infrastructural developments.
Off-the-Road Tires Market Segmentation
By Thread Pattern
By Distribution Channel
By Vehicle Type
Loaders and Dozers
Middle East & Africa (MEA)
The Goodyear Tire & Rubber Company
JK TYRE & INDUSTRIES LTD
Continental Reifen Deutschland GmbH
Bridgestone Americas Tire Operations, LLC.
Balkrishna Industries Limited (BKT).
Triangle Tire USA
MAGNA TYRES GROUP
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