Selbyville, Delaware Global Off-road Tires Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2025. Off-road Tires Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Off-road Tires market and provides information regarding the revenue for the period 2019 to 2025.
Regulatory authorities including U.S. Environmental Protection Agency (EPA), and Certification & Accreditation Administration (CNCA) of China enact laws pertaining to the manufacturing standards for off-road tires. The standards include permissible limits of hazardous pollutants emitted from rubber tire manufacturing. In May 2018, European Commission published a legislative proposal for tire labelling regulations to promote the product benefits to consumers escalating the off-road tires market.
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Off-road Tires Market is estimated to surpass USD 705 billion by 2025; according to a new research report.
Increasing adoption of radial tires featuring flexible side walls and reduced roll resistance will positively influence the off-road tires market growth. Utilization of heavy-duty trucks in construction and mining industries for efficient material handling will escalate the industry size. Further, increasing awareness related to vehicle efficiency, service life and safety will positively influence the integration of lightweight and fuel-efficient off-road tires.
Growing adoption of mountain bikes for off-road cycling competitions is prominently augmenting the off-road tires market size over the forecast timeframe. The introduction of highly durable and sturdy tires ranging from 31 to 40 inches standing height offers optimum performance in all riding conditions. Mountain bike tires featuring fast rolling tread design, high-volume casing, and triple layer compounding are anticipated to drive the segment growth.
Increasing adventure and motor sports racing activities is significantly contributing towards the demand for dirt bikes and quads. The easy availability of dirt bikes and quad tires in numerous sizes and brands is attributed to a wide network of dealers and distributors. The growing requirements for high-performance tires with enhanced traction and reduced wear will industry significant growth potential in the industry landscape.
Replacement segment will showcase a considerable growth owing to the increasing requirement for frequent upgrades and replacement by consumers. Increased wear at the tire sidewall areas is resulting into tire retirement before the intended service life. Secondary tires provide enhanced safety capabilities along with improved performance and traction.
North America will foresee substantial growth with increasing applications of 4WD vehicles in off-roading and recreational activities. Increasing preference for participation in outdoor events are anticipated to boost the industry share over the forecast timeframe. Moreover, the higher demand for 4WD vehicles in adventure parks and forest lands will spur the product demand.
Key off-road tires market participants include Yokohama Rubber, JK Tyre, Continental AG, Michelin, Bridgestone, Sumitomo Rubber Industries and others. Industry players are engaged in expanding their product portfolio to enhance revenue generation across the globe. For instance, in August 2019, Bridgestone Americas Inc. announced expansion of the Firestone TransForce product lineup for 4-WD HDTs to serve larger consumer base. Further, significant investments targeted towards production facility expansion and new product development to serve larger consumer base will drive the industry size.
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