North America OTR Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

North America OTR Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112024A5076
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Market Overview:

The North America OTR tire market size reached 430.5 Thousand Units in 2022. Looking forward, IMARC Group expects the market to reach 610.7 Thousand Units by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028. The increasing renovation projects, rising demand for minerals, and the growing use of OTR tires in tractors represent some of the key factors driving the market.

Off-the-road (OTR) tire, also known as mud terrain tire, is manufactured using materials, such as natural or synthetic rubber, steel, carbon black, wire, vulcanization accelerator, and silica. It requires high air pressure to support heavy loads and prevent sidewall damages. It also involves specialized rims that are designed to handle their weight and size. It provides high power on unpaved surfaces, including gravel, mud, rock, and loose dirt. It assists in improving durability, enhancing vehicle performance, rolling resistance, reducing tread, and offering stability. It is commonly used in various vehicles, such as all-terrain vehicles (ATVs), tractors, cranes, military trucks, wheel loaders, specialized purpose vehicles, and telescopic handlers. As it has a longer operational life, enhanced stability and reliability, and puncture resistance, the demand for OTR tire is escalating in ultra-high-performance vehicles across the North American region.

North America OTR Tire Market Trends:

There is an increase in the use of OTR tires in heavy equipment, such as bulldozers, excavators, and loaders. This, coupled with the rising number of remodeling and upgradation construction projects in residential and commercial areas, represents one of the major factors strengthening the market growth in the North American region. Moreover, the growing utilization of OTR tires in tractors, combines, sprayers, harvesters, and irrigation equipment for conducting farm-related activities like field plowing, weed controlling, animal handling, and material transporting is influencing the market positively. In addition, the increasing popularity of all-terrain vehicles (ATVs), such as dirt bikes, quads, and other off road vehicles, for various recreational activities and adventure sports is contributing to the market growth in the region. Apart from this, OTR tires are employed in haul trucks, loaders, drilling rigs, longwall machines, and shuttle vehicles of the mining industry on account of their numerous advantages, such as being capable of handling heavy loads, harsh operating conditions, and challenging terrains. This, along with the growing demand for minerals, such as copper, iron, ore, and coal, is creating a positive outlook for the market in North America. Furthermore, the advent of OTR tires that are incorporated with sensors for monitoring tire pressure and temperature and minimizing the risk of potential hazards by providing real-time data analysis is bolstering the growth of the market in the region.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the North America OTR tire market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on demand, tire size, tire type, vehicle type and distribution channel.

Demand Insights:

  • Original Equipment Market
  • Replacement Market
     

The report has provided a detailed breakup and analysis of the North America OTR tire market based on the demand. This includes original equipment market and replacement market. According to the report, replacement market represented the largest segment.

Tire Size Insights:

  • Top Tire Sizes in 24’’-30’’
  • Top Tire Sizes in 31’’-35’’
  • Top Tire Sizes in 36’’-39’’
  • Top Tire Sizes in 40’’-50’’
  • Top Tire Sizes in 51’’-55’’
  • Top Tire Sizes in 56’’-63’’
     

A detailed breakup and analysis of the North America OTR tire market based on the tire size has also been provided in the report. This includes top tire sizes in 24’’-30’’, top tire sizes in 31’’-35’’, top tire sizes in 36’’-39’’, top tire sizes in 40’’-50’’, top tire sizes in 51’’-55’’, and top tire sizes in 56’’-63’’. According to the report, top tire sizes in 24’’-30’’ accounted for the largest market share.

Tire Type Insights:

  • Radial Tire
  • Bias Tire
     

The report has provided a detailed breakup and analysis of the North America OTR tire market based on the tire type. This includes radial tire and bias tire. According to the report, bias tire represented the largest segment.

Vehicle Type Insights:

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

A detailed breakup and analysis of the North America OTR tire market based on the vehicle type has also been provided in the report. This includes mining vehicles, construction and industrial vehicles, agricultural vehicles, and others. According to the report, agricultural vehicles accounted for the largest market share.

Distribution Channel Insights:

  • Offline
  • Online
     

The report has provided a detailed breakup and analysis of the North America OTR tire market based on the distribution channel. This includes offline and online.

Country Insights:

  • United States
  • Canada
     

The report has also provided a comprehensive analysis of all the major regional markets, which include United States and Canada. According to the report, United States was the largest market for OTR tire in North America. Some of the factors driving the United States OTR tire market included increased renovation projects, product innovations, integration of advanced technologies, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the North America OTR tire market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Bridgestone Corporation, CMA, LLC, Continental AG, Cooper Tire & Rubber Company, Titan International, Inc., Michelin, Nokian Tyres plc, The Yokohama Rubber Co, Ltd., Toyo Tire Corporation, Trelleborg AB, Triangle Tyre Co., Ltd, Pirelli & C. S.p.A., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units ‘000 Units
Segment Coverage Demand, Tire Size, Tire Type, Vehicle Type, Distribution Channel, Country
Countries Covered United States, Canada
Companies Covered Bridgestone Corporation, CMA, LLC, Continental AG, Cooper Tire & Rubber Company, Titan International, Inc., Michelin, Nokian Tyres plc, The Yokohama Rubber Co, Ltd., Toyo Tire Corporation, Trelleborg AB, Triangle Tyre Co., Ltd, and Pirelli & C. S.p.A.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the North America OTR tire market from 2017-2028.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the North America OTR tire market.
  • The study maps the leading, as well as the fastest-growing, regional markets.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the North America OTR tire industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The North America OTR tire market reached a volume of 430.5 Thousand Units in 2022. 

We expect the North America OTR tire market to exhibit a CAGR of 5.9% during 2023-2028.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the region resulting in the temporary closure of numerous manufacturing units for OTR tires.

The rising development of roads, highways, power plants, etc., along with the increasing awareness towards the numerous benefits of OTR tires, such as high heat and rolling resistance, better durability, easy mobility, etc., is primarily driving the North America OTR tire market.

Based on the demand, the North America OTR tire market has been segmented into original equipment market and replacement market. Currently, replacement market holds the majority of the total market share.

Based on the tire size, the North America OTR tire market can be divided into top tire sizes in 24’’-30’’, top tire sizes in 31’’-35’’, top tire sizes in 36’’-39’’, top tire sizes in 40’’-50’’, top tire sizes in 51’’-55’’, and top tire sizes in 56’’-63’’. Among these, top tire sizes in 24’’-30’’exhibits a clear dominance in the market.

Based on the tire type, the North America OTR tire market has been categorized into radial tire and bias tire, where bias tire currently accounts for the largest market share.

Based on the vehicle type, the North America OTR tire market can be segregated into mining vehicles, construction and industrial vehicles, agricultural vehicles, and others. Currently, agricultural vehicles exhibit a clear dominance in the market.

On a regional level, the market has been classified into United States and Canada, where United States currently dominates the market.

Some of the major players in the North America OTR tire market include Bridgestone Corporation, CMA, LLC, Continental AG, Cooper Tire & Rubber Company, Titan International, Inc., Michelin, Nokian Tyres plc, The Yokohama Rubber Co, Ltd., Toyo Tire Corporation, Trelleborg AB, Triangle Tyre Co., Ltd, and Pirelli & C. S.p.A.

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North America OTR Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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