Off The Road Tire Market: 2018 Global Forecast To 2023 Research Report

Posted by Abhijeet Bendre on November 1st, 2018

Off The Road Tire Market Analysis 2018 to 2023 Report. Global Off The Road Tire Market To Grow at highest CAGR By 2023. Global Off-the-road tire market Information by Construction Type (Bias, Belted bias and Radial), by Vehicle type (Mining, Agriculture Vehicles, Construction and Industrial Equipment and Others), by distribution channel (OEM and Aftermarket) And Region - Forecast To 2023        

Market Scenario:

Global off-the-road tire market is a very dynamic market and is expected to witness high growth over the forecast period. The global Off-the-road tire market is driven with the continuous growth of various sectors such as agricultural and logistics, mining and construction. The growth of the market is further driven by the increase in the use of the off-the-road vehicles such as cranes, wheel loaders, telescopic handlers, tractors and special purpose vehicles. The increasing use of technology for achieving attributes such as increased durability including heat resistance, and reduced rolling resistance, are expected to generate opportunities for the manufacturers in the global market. The increase in the use of heavy machineries and equipment in the agriculture, mining and industrial sectors, also increases the use of agricultural, mining and industrial tires.

The market experienced a downturn in the past few years, majorly, due to challenges in the coal mining segment. The increasing cost of coal mining due to the introduction of various government regulations, hinders the growth of the off-the-road tire market. The decline in the prices of crude oil has led to a weak construction and mining activities. This slowdown in the growth of the construction and mining sector, is also expected to restrict the growth of the off-the-road tire market. Despite the hindrances, the global off-the-road tire market is projected to grow at the CAGR of ~6%.

Of all construction types, the bias segment is projected to account for the largest market share. The construction of the bias tires is cross ply and the cords are used such that they stretch from bead to bead. Bias tires possess an advantage over radial tires as it facilitates the entire body of the tire to flex. This flexibility facilitates a comfortable and smooth ride on uneven and rough terrains. However, the disadvantages of using these tires is that they have less traction and control at higher speed.

Browse more details on “Off The Road Tire Market Research Report - Global Forecast To 2023” at: https://www.marketresearchfuture.com/reports/off-the-road-tire-market-5029

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