According to Future Market Insights, the global off highway tires market will be valued at US$ 9,405.4 Million in 2023 and will increase at a CAGR of 7.9% from 2023 to 2033. The top 3 countries are predicted to account for 25-30% of the market by the end of 2023.
Off-highway tires manufacturing is currently undergoing a significant transition on a global scale. The rising use of off-road vehicles for military and recreational purposes is a key factor fueling the off-road vehicle industry’s expansion. Off-road vehicles are used in military operations to transfer supplies and ammunition. These trucks are also used to transport heavy, loaded weapons during times of war. Additionally, new technology, such as GPS on these trucks, allows for reduced soil compaction and time savings while planting by mapping the lines. This technology is used to establish field borders and mark field lines.
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Off-road machinery is used in the farming and agricultural sectors to do crucial daily activities. Among other agricultural jobs, utility off-road vehicles are used for crop planning and scouting, irrigation, and rock picking. The majority of farm work is now done by machines, which requires regular tyre replacement, fueling the growth of the global off-highway tyres market during the course of the forecast period.
In an upcoming market research study, Future Market Insights (FMI) lays bare undercurrents and opportunities prevailing in the global Off Highway Tires market. The report provides in-depth insights on the Off Highway Tires market through a detailed analysis of key growth drivers, restraints, trends, challenges, and revenue growth based on historical data. Valuable information and forecast statistics covered in the Off Highway Tires market report will help existing and potential new market players to craft long-term strategies as well as maintain business continuity during a crisis.
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Off Highway Tires Market: Competition Analysis
The FMI’s study presents an extensive analysis of global, regional, and country-level players operating in the Off Highway Tires market based on their innovative launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Off Highway Tires market report.
Key Companies Profiled
- Bridgestone
- Michelin
- Goodyear
- Yokohama Tire
- China National Tire & Rubber
- MRF
- Continental AG,
- Belshina
- Cheng-Shin Rubber
- Eurotire
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Key Segments Profiled in the Off Highway Tires Market
By Sales Channel, Off Highway Tires Market is segmented as:
- Replacement Tires
- OEM
By End Use, Off Highway Tires Market is segmented as:
- Industrial
- Agriculture
- Mining
- Construction
By Region, Off Highway Tires Market is segmented as:
- North America
- Latin America
- Eastern Europe
- Western Europe
- East Asia
- South Asia and Pacific
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- The Middle East and Africa
Crucial Questions Answered in the Report
- Which end-use industry remains the top consumer of Off Highway Tires in different regional markets?
- At what rate has the global Off Highway Tires market been expanding during the forecast period?
- How will the global Off Highway Tires market look like by the end of the forecast period?
- What innovative technologies are the Off Highway Tires market players adopting to stay ahead of the pack?
- What are the restraints affecting the growth of the global Off Highway Tires market?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Off Highway Tires market
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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