Global Off-highway Tire Market 2018-2022

The global off-highway tire market size will grow by USD 3.21 billion during 2018-2022. This report offers an analysis of the market based on product (pneumatic tires and non-pneumatic tires) and geography (the Americas, APAC, and EMEA). The report analyzes the market’s competitive landscape and offers information on several companies including Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Toyo Tire & Rubber Co Ltd., Continental, and JK Tyre & Industries Ltd.

Below are some of the key findings from the off-highway tire market research report

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Global off-highway tire industry overview

A key factor driving the growth of the off-highway tire market is the rising demand for ATVs. ATV is basically a quadricycle or quad bike that has a low seat for the operator to straddle. They travel on low-pressure tires and have handlebars for steering control. These vehicles are equipped with off-highway tires that are specifically designed to be ridden over multiple terrains, that are inaccessible by other vehicles. ATV production has increased significantly due to a significant rise in recreational off-roading activities.

The increasing implementation of the tire-pressure monitoring system is identified as one of the key emerging trends in the global off-highway tire market. A tire-pressure monitoring system is an electronic system that gauges the air pressure in the tires to determine whether the tires are under-inflated. Uneven tire pressure in vehicles can lead to loss of control. Thus, when a TPMS detects that the air pressure in any one or more tires is low, it alerts the driver through a warning signal, i.e., a blinking indicator on the dashboard. TPMS was developed to reduce traffic accidents, parasitic power losses from rotating underinflated tires, and wear on tires. Indirect and direct are the two types of TPMS. The indirect TPMS gauges loss of air pressure in the tires by using the wheel sensors to measure the rate of a wheel revolution. It compares it with the revolution of other wheels and uses the rate of revolution to determine the size of the tire. Variations in tire sizes due to low air pressure causes the system to warn the driver. The direct TPMS integrates monitoring devices in individual tires to gauge the air pressure and temperature. Such factors will trigger the off-highway tire market to grow at a CAGR of over 5% during 2018-2022.

Top off-highway tire companies covered in this market research report

The off-highway tire market is highly concentrated. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this off-highway tire industry analysis report will aid clients to identify new growth opportunities and design new growth strategies.

The report offers a complete analysis of various companies including:

• Michelin
• Bridgestone Corporation
• The Goodyear Tire & Rubber Company
• Toyo Tire & Rubber Co Ltd.
• Continental
• JK Tyre & Industries Ltd.

Off-highway tire market segmentation based on geographic regions

• Americas
• APAC
• EMEA

With a complete study of the growth opportunities for the companies, the APAC region will account for the highest growth of this market throughout the forecast period. APAC led the market in 2017 with an off-highway tire market share of nearly 41%.

Off-highway tire market segmentation based on product

• Pneumatic
• Non-pneumatic

The pneumatic segment will account for the highest growth in the market. The pneumatic segment held the largest market share in 2017, accounting for nearly 99% of the market. Additionally, the report also provides an accurate prediction of the contribution of the various products segments to the growth of the off-highway tire market size.

Key highlights of the global off-highway tire market for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the off-highway tire market during the next five years
• Precise estimation of the global off-highway tire market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the off-highway tire industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on the factors that will challenge the growth of off-highway tire companies

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