Off The Road Tire Market Analysis, Growth by Top Companies, Trends by Types and Forecast to 2028

According to our latest market study on "Off The Road Tire Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Vehicle Type (Mining, Agricultural Vehicle, Construction and Industrial Equipment, Others); Construction Type (Radial, Bias, Belted Bias); Distribution Channel (Aftermarket, OEM) and Geography"

The off the road tire support greater traction in unpaved surfaces with loose dirt, mud, gravel, or sand. The tire is integrated with deep tread patterns which help in the vehicle traction on high terrains or off-road conditions. The off-road tire includes tire casing, tire tread, inner liner, and sidewall, which play a significant role in product design and quality. Off the Road Tire Market is expected to grow considerably all over the in coming years.

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Companies Profiled in this report includes: Bridgestone Corporation,  CEAT Ltd.,  Continental AG,  Hankook Tire,  MICHELIN,  Nokian Tyres plc,  Pirelli and C. S.p.A,  Sumitomo Rubber Industries, Ltd,  The Goodyear Tire and Rubber Company,  THE YOKOHAMA RUBBER CO.,LTD.

MARKET SEGMENTATION

  Based on vehicle type, the global off the road tire market is segmented into mining, agricultural vehicle, construction and industrial equipment and others.

  On the basis of construction type, the market is segmented into radial, bias and belted bias.

  Based on distribution channel, the market is bifurcated into aftermarket and OEM.

MARKET DYNAMICS

Drivers:

  Growing construction and industrial activities in many developing nations.

  Rising urbanization and increasing per disposable income to boost market growth of off the road tire.

Restraints:

  Unorganized retail sector in some developing countries of the Middle East and Africa region.

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IMPACT OF COVID-19 ON OFF THE ROAD TIRE MARKET

The outbreak of the COVID-19 has severely impacted the automotive, transportation and other related industries adversely. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption of global supply chain has left an adverse impact on the automotive industry. This pandemic restricted movement of people from one place to another. Many non-essential activities were prohibited during this period. Restrictions of limited workforce at production site affected the market from supply side. All the mentioned factors have impacted the off the road tire market negatively.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.