Europe Off-the-Road (OTR) Tire Market

Market Overview 2023-2028:

The Europe off-the-road (OTR) tire market is expected to exhibit a growth rate (CAGR) of 4.52% during 2023-2028.

Off-the-road (OTR) tires refer to deeply treaded tires that offer high traction over unlevelled surfaces, including rock, mud, loose dirt, gravel, etc. Various off-the-road vehicles include cranes, wheel loaders, telescopic handlers, tractors, all-terrain vehicles (ATVs), military trucks, specialized purpose vehicles, etc. OTR tires provide improved heat and rolling resistance, better durability, enhanced vehicular performance, optimum stability, easy mobility, and reduced contact patch area. As a result, these tires are widely adopted across various sectors, including construction, mining, recreation, agriculture, etc.

Europe Off-the-Road Tire Market Trends:

In Europe, the increasing development of various infrastructural projects, including the construction of road & railway networks, housing facilities, industrial complexes, etc., is primarily driving the OTR tire market. In line with this, the continuous upgradation of numerous commercial structures, such as bridges, dams, highways, power supply grids, etc., across diverse geographical locations is also propelling the market growth. Additionally, the expanding mining sector has led to the growing demand for large haul trucks in numerous mining and quarrying applications. Furthermore, the European market is also catalyzed by the increasing prominence of radial OTR tires that offer several benefits, such as better mileage, lesser fuel consumption, improved road grip, etc. Besides this, a significant growth in the agriculture sector along with the rising adoption of farm mechanization trends is further augmenting the market growth. Moreover, the introduction of numerous government policies for ensuring labor safety across heavy-duty industries is also propelling the demand for forklifts, cranes, backhoes, bulldozers, etc. In the coming years, the growing integration of OTR tires with several advanced technologies, such as tire pressure and temperature monitoring systems, cut and chip resistance sensors, real-time data analysis systems, etc., will continue to bolster the market growth across Europe.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Europe off-the-road (OTR) tire market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, tire type, end use, distribution channel and rim size.

Breakup by Vehicle Type:

• Mining Vehicles
• Construction & Industrial Vehicles
• Agricultural Vehicles
• Others
   

Breakup by Tire Type:

• Radial Tire
• Bias Tire
   

Breakup by End Use:

• OEM
• Replacement
   

Breakup by Distribution Channel:

• Online
• Offline
   

Breakup by Rim Size:

• Below 24 inches
• 24-30 inches
• 31-35 inches
• 36-39 inches
• 40-50 inches
• 51-55 inches
• Above 56 inches
   

Breakup by Country:

• Germany
• France
• Russia
• United Kingdom
• Italy
• Spain
• Others

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Balkrishna Industries Limited, Bridgestone Corporation, Continental AG, Double Coin Tyre Group Ltd, Michelin, Nokian Tyres, Pirelli, The Goodyear Tyre & Rubber Company, Trelleborg, Triangle Tires and Yokohama Rubber Company Limited.

Report Coverage: