Global OTR (Off-the-Road) Tires Market Outlook 2024: Opportunity & Growth Analysis-Sample

1
Global OTR (Off-the-Road) Tires Market Outlook
Global OTR (Off-the-Road) Tires Market Outlook
2024 Opportunity Growth Analysis, 2016-2024
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Global OTR (Off-the-Road) Tires Market Outlook
Table OF Contents
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• Global OTR (Off-the-Road) Tires Market Outlook
• Global OTR (Off-the-Road) Tires Market
• Market Size (USD Billion)
• Forecast Analysis (2017-2025)
• Market Share CAGR ()
• Regional Share Distribution ()
• Target Markets (Countries)
• Macroeconomic Trends
• Technological Trends and Developments
• Merger and Acquisition Activities
• Market Dynamics
• Growth Drivers
• Market Restraints
• Risk Analysis (Supply Demand)
• Economic Variations
• Opportunities
• OTR (Off-the-Road) Tires Market Segmentation

4

• End Users Analysis
• Construction
• Industrial
• Mining
• Agriculture
• Ports
• Other (Defense etc.)
• BPS Analysis Attractiveness
• Target Market Analysis
• OEMs (Original Equipment Manufacturers)
• Aftermarket
• BPS Analysis Attractiveness
• Global OTR (Off-the-Road) Tires Market
  Regional Segmentation
• North America OTR (Off-the-Road) Tires Market
  Outlook
• Macroeconomic Indicators
• Demand and Adoption Analysis in End-Use
  Industries

5

• Country-Wise Outlook
• Mexico Market Outlook
• Brazil Market Outlook
• Rest of Latin America Market Outlook
• BPS Analysis Market Attractiveness
• Europe OTR (Off-the-Road) Tires Market Outlook
• Macroeconomic Indicators
• Demand and Adoption Analysis in End-Use
  Industries
• Investments/Developments
• Recent Historical Trends
• Demand
• Production
• International Trade
• Country-Wise Outlook
• UK Market Outlook
• Germany Market Outlook
• France Market Outlook
• Italy Market Outlook

6

• Country-Wise Outlook
• China Market Outlook
• Japan Market Outlook
• India Market Outlook
• Singapore Market Outlook
• Malaysia Market Outlook
• Thailand Market Outlook
• Australia Market Outlook
• New Zealand Market Outlook
• Rest of APAC Market Outlook
• BPS Analysis Market Attractiveness
• Middle East Africa OTR (Off-the-Road) Tires
  Market Outlook
• Macroeconomic Indicators
• Demand and Adoption Analysis in End-Use
  Industries
• Investments/Developments
• Recent Historical Trends
• Demand
• Production

7

• MRF
• Cheng-Shin Rubber
• Eurotire
• Linglong Tire
• BKT
• Alliance Tire Group
• Apollo
• Pirelli
• Dunlop
• PESTLE Analysis and Value Chain Analysis of OTR
  (Off-the-Road) Tires Market
• Porters Five Force Model
• Market Landscape Competition and Beyond
• Market outlook for business players and entry
  level players to ascertain their business in
  dynamic ecosystem
• Expert Analysis

8
Global OTR (Off-the-Road) Tires Market Outlook
Executive Summary
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Global OTR (Off-the-Road) Tires Market Outlook
Global OTR (Off-the-Road) Tires Market Share(),
By Region-2016-2024
Global OTR (Off-the-Road) Tires Market Size USD
(Billion). 2016-2024
Sample
Source Goldstein Research
Source Goldstein Research
In 2016, Mining Sector accounted for the highest
market share XX in global OTR (Off-the-Road)
Tires market
With XX share in 2016, Asia Pacific dominated
the global OTR (Off-the-Road) Tires market
Global OTR (Off-the-Road) Tires Market Share (),
By End Users- 2016
Global OTR (Off-the-Road) Tires Market Share (),
By Vehicle Type-2016
Global OTR (Off-the-Road) Tires Market Share(),
By Product Type-2016
Source Goldstein Research
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Global OTR (Off-the-Road) Tires Market Outlook

• With approximately half of today's construction
  fleets running on bias-ply tires and the other
  half shod with radials, it's important to
  understand the benefits and impact on operating
  costs of each type. While North American
  construction fleets lag Europeans in the adoption
  of radial tires, their market share continues to
  grow.
• The larger the equipment, the higher the
  percentage of radials. "It continues to go toward
  radials. It's just a matter of how long will it
  take to completely change over.
• The replacement market demonstrates the different
  adoption rates by size. "For the smaller machines
  that have a 23.5 R 25 or smaller, the market is
  about XX percent radials, but it's climbing. "You
  get into the bigger machines with a 26.5 or a
  29.5 and it's about XX percent. The large mining
  trucks are XX-percent plus.This trend is being
  driven by the advantages of radials in many
  applications. "While the upfront purchase price
  of a radial is slightly more than a bias, in the
  end the total cost of ownership is almost always
  lower. "Radials offer lower fuel consumption,
  better traction and flotation and improved cut
  resistance in the tread area, and run much cooler
  than bias."
• Work tools such as wheel loaders and scrapers are
  now moving toward radials. "The work tool tires
  have taken longer to switch over. "In Europe,
  loaders are XX percent on radials due to longer
  tread wear and ultimately operator comfort. In
  North America, the changeover has been much
  slower, we think due to the fact that the
  stability is not the same.
• Demand for a new off-the-road tire size is
  contributing to the growth of the market for
  small OTR tires, which defines as tires on 25-
  inch and smaller rims.
• The trend in tire sizes depends on the specific
  machine or application. The tire segment is
  evolving with several different solutions to
  meet the various demands of this segment. Radial
  tires continue to grow, airless options continue
  to evolve and track machines are also becoming
  widely accepted for some uses. The tread designs
  also continue to evolve from the standard R-4.

Increase in Mining Activity
Sample
Environmental Concerns
Product Innovation
Growing Agricultural Tractors Demand
Global OTR (Off-the-Road) Tires Market Size (USD
Billion)
North America
Europe
Asia-Pacific
USD XX Billion
2016
USD XX Billion
USD XX Billion
2024
USD XX Billion
USD XX Billion
USD XX Billion
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Global OTR (Off-the-Road) Tires Market Outlook
Research methodology
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Research Methodology
Goldstein Research follows a comprehensive and
rigorous research methodology to provide you
accurate estimates and forecast of a particular
market. We provide estimates, forecast and
analysis primarily based on secondary research,
primary interviews, in-house database and other
free as well paid sources. Our company follows
simultaneous top down and bottom approach in
order to provide you the accurate market sizing.
Data triangulation method is strictly followed
where we triangulate the data from all the
aspects, be it Function Type, application,
industry verticals, material, product type or
geography. In addition, the research methodology
we follow is a systematic approach in order to
estimate and project the market sizing keeping in
mind all the on-going and upcoming trends of the
market. We conduct both primary and secondary
research in order to estimate a market and
validate our key findings. We put together our
effort and prepare an inclusive questionnaire
depending on the title of the market we are
tracking and extract the important information we
require to validate our findings. Our team of
Analysts and experts dedicatedly put their effort
to provide you the best possible and accurate
data and analysis. Adding to that technological,
economic, cultural and social aspects along with
the regulatory barriers are completely analyzed
to understand the comprehensive market scenario
across different geographies. Understanding the
market from both buyer and seller point of view
is important to track a market and provide
analysis on the same. We not only provide the
market data of the four geographies as a whole,
namely, North America, Europe, Asia-Pacific,
Latin America, Middle East Africa and Rest of
the World (RoW) but we also provide you
qualitative as well we qualitative information on
country level bifurcation. We at Goldstein
Research provide you Precise Estimates and
Forecast Authentic Analysis In-depth Data and
Analysis Authentic Sources Reliable Data
and Analysis
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Global OTR (Off-the-Road) Tires Market Outlook
Competitors Regional Analysis
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Major Players Presence-Regional Analysis
Major Players/ Industries North America APAC Europe Latin America Middle East Africa
Michelin
Goodyear
Yokohama Tire
Continental
MRF
Dunlop
BKT
Sample
Low Penetration
High Penetration
Medium Penetration
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Global OTR (Off-the-Road) Tires Market Outlook
Global OTR (Off-the-Road) Tires Market Analysis,
2016-2024
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Global OTR (Off-the-Road) Tires Market Size (USD
Billion)-2016-2024
Sample
Source Goldstein Research

• Global OTR (Off-the-Road) Tires Market is
  anticipated to expand at a compound annual growth
  rate of XX during the forecast period i.e.
  2016-2024. Demand for Off-the Road Tires is
  expected to improve due to the increase in metal
  production, construction activities, and upsurge
  in new mines. Further, demand is also expected to
  come from regions such as India, China and
  Africa. For instance, iron ore output in India
  increased by XX percent in 20152016 compared to
  same period a year ago. This trend is expected to
  continue in the upcoming years which will augment
  the mining activities in the region and demand
  for OTR tires.
• In compact construction some sizes reappear on
  different machines. For instance, some skid steer
  tires can go on the front axle of a backhoe
  loader. Original equipment manufacturers are
  adopting and adapting common tire sizes to fit
  different machines. The same tire sizes can fit
  on different compact construction equipment. For
  instance, multipurpose or MPT tires (which are
  more popular in Europe) refer to a range of
  compact construction equipment using mostly the
  same tires but handling a range of different
  jobs agriculture, road building, residential and
  commercial construction, scrap yards,
  landscaping, snow removal and more. Were talking
  about compact telehandlers, compact wheel loaders
  and mini-dumpers, backhoe loaders, concrete truck
  mixers and rough terrain forklifts.

17
Market Dynamics
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Growth Drivers
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• Growing Research and Development Activities by
  Major Players
• Increased Versatility Through Improved
  Load-Bearing Capabilities and Driving
  Performance. Companies are further optimizing the
  spoke structure by using high-strength but
  flexible high-performance resin as a material and
  employing finite element method (FEM) simulations
  in the design to reduce stress and deformation in
  the inner part of the tire. By doing so, the
  second generation of "Air Free Concept tire" has
  increased versatility through improved
  load-bearing capabilities and driving performance
  compared with the first generation . High-speed
  travel (maximum 60 km/h) in ultralight vehicles
  has also become possible.
• Pursuing Low Rolling Resistance to Reduce
  CO2 Emissions About 90 of energy loss from tire
  rolling resistance comes from repeated changes in
  the shape of tires as they roll. In the second
  generation of airless tires, many companies have
  succeeded in making a significant reduction in
  energy loss by using proprietary materials
  technologies and simplifying the structure of the
  tires. As a result, these "Air Free Concept tire"
  have achieved the same level of low rolling
  resistance as our pneumatic fuel-efficient tires,
  making possible a contribution to reductions in
  CO2 emissions.

Capital Spending Trends Fiscal 2016
Bridgestone USD XXX million to expand capacity at
plants in Pune and Indore, India, over the coming
five years. The projects will boost daily
capacity nearly 60 percent by 2022 to about
41,000 tires and enable Bridgestone India Pvt.
Ltd. to enhance the product mix.
COMPANY Capital Spending (USD Million) Change vs. 2015 of sales
Continental AG XXX XX XX
Group Michelin XXX XX XX
Bridgestone Corp. XXX XX XX
Goodyear Tires XXX XX XX
Apollo Tyres XXX XX XX
Sumitomo Rubber XXX XX XX
Pirelli XXX XX XX
Sample
CONTINENTAL USD XXX million to boost capacity at
its 6-year-old car tire plant in Hefei, China, by
XX percent to XX million tires a year. The Phase
4 project will add 6 million units of annual
capacity for passenger tires, Conti said. The new
manufacturing area will cover more than a quarter
of the Hefei site's XX million sq.-ft. area. The
factory's annual capacity will reach XX million
passenger tires and XX million two-wheeler tires
by 2022.
Source Goldstein Research

• Impact Analysis-
• The world's leading tire makers committed more
  than USD XX Billion in the past year (2016-17)
  toward new plants and capacity expansions, a
  measurable drop from record spending of USD XX
  Billion-plus in 2015-16 but still ahead of the
  annualized average for the past decade.
• The expansion projects collectively represent
  more than XX million units of new passenger and
  light truck tire capacity and XX million units of
  truck, bus and OTR tires per year.

20
Market Restraints
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• Lack of Effective System and Infrastructure to
  Recycle Tires
• End-of-life tires (ELT) or waste tires are a
  chronic environmental issue in western countries
  and so now in developing countries. The only
  difference is that these countries have started
  tackling this issue recently, but not effectively
  as its western counterparts. As BRIC nations are
  riding on robust growth, more and more vehicles
  are hitting the roads, so are tires. In the last
  five fiscals (FY10 to FY15), the tire industry in
  these countries has grown at a CAGR of 12. On
  the flip side, the impressive growth has brought
  in its wake more challenges to the environment.
• Knowing the impact of waste tires on environment
  and cumbersome processes to dispose them of,
  developed countries have not only banned imports
  of waste tires, but also are aggressively pushing
  exports of such tires to developing countries
  such as China, India, Southeast Asian countries,
  Middle-East and some African nations. Countries
  which are less serious about waste tires impact
  are the preferred destination for disposal of
  waste tires.

Waste Collection Rates () by Regions, 2016
Sample

• Impact Analysis-
• By their very nature, off-the-road tires and
  large mining tires are difficult to manage and
  recycle. But new initiatives and technologies are
  making non-pneumatic tires processing and
  recycling both more feasible and more profitable,
  increasing sustainability within that market.
• The OTR tire market is a fast-growing sector in
  the tire market, OTR sales totaled USD 5.34
  billion globally in 2017, and are expected to
  grow to USD 7.68 billion in 2025.

Impact on Global OTR (Off-the-Road) Tires Market
22
Global OTR (Off-the-Road) Tires Market
Segmentation Analysis, 2016-2024
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Global OTR (Off-the-Road) Tires Market Share (),
By Product Type, 2016-2024

• By value, the listed 15 countries shipped almost
  three-quarters (XX) of global rubber tires
  exports in 2017. Three top exporters grew their
  international sales of new tires since 2013
  namely Thailand (up XX), Slovakia (up XX) and
  the Netherlands.
• Among continents, Asian countries accounted for
  the highest dollar worth of tires exports during
  2017 with shipments amounting to USD XX billion
  or XX of exported tire sales. European exporters
  shipped XX of the global total, while XX of the
  value of new rubber tire shipments came from
  North America.
• An increasing number of mining projects, a
  growing demand for mining vehicles and an
  expanding vehicle fleet are expected to drive the
  global mining tire market as well through 2024.
  Reinforcement of mining activities across the
  globe is the key growth factor of the global
  mining tire market and providing significant
  growth opportunities for non-pneumatic tires in
  mining industry.

Sample
Source Goldstein Research
Global OTR (Off-the-Road) Tires Market Y-O-Y
Growth, By Product Type, 2016-2024
Source Goldstein Research
Global OTR (Off-the-Road) Tires Market Size (USD
Billion), By Product Type, 2016-2024
Source Goldstein Research
24
Global OTR (Off-the-Road) Tires Market Size (USD
Billion), By Radial Tires, 2016-2024

• The ranking of the worlds largest tire
  manufacturers is dominated by European and Asian
  manufacturers. Thirdranked Goodyear Tire and
  Rubber Co. and twelfthranked Cooper Tire and
  Rubber Co. were the key tire makers with
  headquarters in the United States. Since labor
  costs are the second largest driver of tire
  production costs, Asian manufacturers are able to
  benefit from low wages in the majority of their
  plants. In terms of tire-related sales revenue,
  Japan's Bridgestone continues to be the main
  player in the tire manufacturing business, while
  Germany's Continental is the major player based
  on overall revenue.
• In North America the forklift industry is
  really, really solid, based on shipment data.
  Sales of new forklift trucks surged about a year
  ago, and now those vehicles are requiring
  replacement tires. So the aftermarket is very
  healthy going forward as well.

Sample
Source Goldstein Research
Global OTR (Off-the-Road) Tires Market Y-O-Y
Growth, By Radial Tires, 2016-2024
Source Goldstein Research
The world's largest tire manufacturers in 2017,
based on tire-related sales (in billion U.S.
dollars)
Source Goldstein Research
25
Global OTR (Off-the-Road) Tires Market
Attractiveness-By Product Type, 2016-2024
CAGR ()
Market Size (USD Billion)
Source Goldstein Research
Water based adhesive segment holds the largest
revenue share in the global OTR (Off-the-Road)
Tires market as this segment constitutes which is
impacted by the rising cognizance among the
household users and thus it is likely to expand
at XX CAGR during the forecast period. OTR
(Off-the-Road) Tires market is relying on the
adoption of EHR (Electronic health record)
software by various healthcare facility providers
in order to stand ahead in future. Behavioral
health EHR creates a world of difference to the
staff and patients and goes the extra mile giving
advanced capabilities such as it include support
for documenting violence risk factors, suicide
risk factors, or sadness scales.
Sample
Global OTR (Off-the-Road) Tires Market BPS
Analysis- By Product Type, 2016-2024
Source Goldstein Research
26
North America OTR (Off-the-Road) Tires Market
Analysis, 2016-2024
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North America OTR (Off-the-Road) Tires Market
Size (USD Billion)-2016-2024
Sample
Source Goldstein Research
North America OTR (Off-the-Road) Tires Market
Size (USD Billion), By Product Type-2016-2024
North America OTR (Off-the-Road) Tires Market
Size (USD Billions), By Country-2016-2024
Source Goldstein Research
Source Goldstein Research
28
North America OTR (Off-the-Road) Tires Market
Analysis, By Country-2016-2024
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United States OTR (Off-the-Road) Tires Market
Size (USD Billion), Compound Annual Growth Rate
(), Y-O-Y Growth Rate (), 2016-2024
Sample
Source Goldstein Research
Key Insights
Projected Tire Shipments (in millions of tires)
2017 Final 2018 Forecast Change
OEMs
Passenger XX XX XX
Light Truck XX XX XX
Truck XX XX XX
Replacement Tires
Passenger XX XX XX
Light Truck XX XX XX
Truck XX XX XX
Total Shipments XX XX XX
We are also typically seeing that the machines
entering the market are have higher horsepower
than previous models as well as increased
weights. Because of higher horsepower machines,
there is some trending to see larger tires
becoming more standard on some machines, i.e.,
seeing more 17.5R25 tires than 14.00R24 than in
the past and new dimensions becoming more popular
on some loader models such as the 875/65R29 vs
29.5R25 this allows higher carrying capacity as
well as some stability enhancements for the
machine. Small OTR has been the slowest segment
of OTR tires to convert to radials, and even
today the figure is less than half - around 45
radial. That leaves a lot of room for growth,
especially as the radial options become better
and more competitive than ever.
Bridgestone Americas Inc. will spend USD XX
million to expand production at its Bloomington,
Ill., off-the-road tire plant. The expansion
means for the first time the company's 29-, 33-
and 35-inch OTR tires will be made outside of
Japan. This investment also includes increasing
the workforce at the Bloomington plant by XX
employees. The last major investment in the plant
was USD XX million for a radial and giant loader
expansion in 2011 and 2014. The facility makes
tires for mining and construction applications.
30
North America OTR (Off-the-Road) Tires Market
Attractiveness-By Country, 2016-2024
CAGR ()
Market Size (USD Billion)
Source Goldstein Research
Sample
According to the above graph, US OTR
(Off-the-Road) Tires market is anticipated to be
the most attractive market across the region, for
new entrants looking to enter in the market,
existing players looking for business expansion
and investors seeking investment opportunities
over the forecast period i.e. 2016-2024 With an
increased dependency on rental companies to
cost-effectively provide a greater variety of
equipment types to customers who will work the
equipment liberally and often aggressively,
having tires that avoid flats is key. Thats
where solid tire come into play. Solid tire have
been popular for skid steer loaders used in
puncture-prone and severe or environmentally
challenging applications for years, but thanks to
newer options, solid tires are now viable for
telescopic handlers, compact wheel loaders and
even full-sized wheel loaders. With the price now
similar to that of foam-filled tires, the rental
market is leading the shift to solid tires.
North America North America OTR (Off-the-Road)
Tires Market BPS Analysis- By Country, 2016-2024
Source Goldstein Research
31
Company Profiling
32
Michelin
33
Michelin (Company Overview Business Strategy)
Founded 1889
Website www.michelin.com
Employees 111,700
Headquarters France
Company Overview
Key Business Segments
Passenger car/Light truck tires related distribution
Truck tires related distribution
Specialty businesses

• Michelin is a leading tire company in the world,
  dedicated in improving mobility, designing,
  sustainably and distributing the most suitable
  tires, services and solutions to its clients and
  producing high-technology materials that serve
  the industry. Michelin is headquartered in
  Clermont-Ferrand, France, operating in 170
  countries, operates through 68 production
  facilities in 17 countries which in total
  produced 187 million tires in 2016.
• Michelin has entered into TREC (tire recycling)
  initiative in 2014 that has a budget of USD 69
  million for over eight years, aiming to produce
  both chemical and mechanical recovery of scrap
  tires.
• The strength of its brand and its technological
  leadership helped to drive 2.6 growth and
  deliver historically high net income of USD
  1977.92 million, demonstrating the Groups
  agility in a more challenging business
  environment. Michelin is pursuing the
  acquisitions that will support its ambitions for
  growth and value creation

Sample
Business Strategy

• The European market rose by XX over the year,
  led by demand from the freight and construction
  industries. The overall gain reflected growth in
  France (up X), Turkey (up X) and Russia (up
  XX), flat demand in Germany and declines in
  Italy (down X) and Spain (down X).
• In terms of specialty businesses, the operating
  income from recurring activities in 2017 was up
  by more than XX and showed strong growth across
  each division.
• The strength and technological leadership of the
  company has helped to drive XX growth which is
  historically high net income of USD XXX million,
  showing the companys agility in challenging
  business environment.
• Replacement radial and bias tire markets in Asia
  (excluding India) leveled off during the year.
  Demand edged up just XX in China, held back by
  the robust OE market and by the impact of
  emissions controls.

34
Michelin (Revenue Financial Analysis)
Sample
Sample
Business Strategy
35
Michelin (Business Segments Recent News)
Sample
Business Strategy
Improves quality control structure and
globalization The company has adopted various
methods to enhance their manufacturing structure
which helps the company to improve the quality of
their automobile products. Moreover, the company
is looking forward towards expansion of
globalization. UPS Motors adopted Hertz
Corporation Global Vision in 2011 to improve the
quantitative expansion across the globe. The
company is investing a huge amount for research
and development activities to introduce the
future of material handling equipment such as
hydrogen powered forklifts and automated guided
vehicles. The company spend USD 588.11 Billion in
2016 for research and development of their
products and services. Hertz Corporation motors
is one of the largest automobile and mental
health software across the globe and expected to
lead other global companies in near future.
36
Sample

37
Expert Analysis
38

• In 2016, OTR (Off-the-Road) Tires dominated the
  market OTR (Off-the-Road) Tires segment
  accounted for nearly XX of the total
  Asia-Pacific Africa point of care testing
  (POCT) devices market and remaining XX went for
  different end-use segments such as homecare
  settings. The main reason for this despaired
  share is due to the rising demand for point of
  care testing devices in OTR (Off-the-Road) Tires
  on the back of their advantages such as faster
  and precise results
• However, as the medical device technology is on
  rise (especially in developing countries), the
  Africa therapeutic market is projected to reach
  USD XXXX Billion in 2023 from USD XXXX Billion in
  2016, registering a growth rate of XX. In
  addition to that, Africa pharmaceutical market
  touched USD XXXX Billion in 2016 and rising
  demand for prescription medicines in the region
  is expected to accelerate the market to USD XXXX
  Billion by the end of 2023
• As a result, if seen from the big market point
  of view, blood glucose monitoring devices demand
  is higher in homecare settings followed by OTR
  (Off-the-Road) Tires . Moreover, the rising
  healthcare expenditure in Africa on the back of
  new healthcare reforms and rising investment in
  healthcare sector is expected to bolster the
  growth of point of care testing devices in Africa
  Asia-Pacific region
• With USD XXXX Billion in 2016, blood glucose
  monitoring devices has the highest demand
  followed by located hemoglobin (HbA1c) testing
  devices and blood collection devices. The
  advancement in diagnostic devices are encouraging
  the hospitals and OTR (Off-the-Road) Tires to
  adopt the advanced devices to obtain accurate
  diagnosis data. The precise data would further
  help the physicians to provide better treatment
  to the patients
• Further, increasing spending by government
  authorities on research and development of
  innovative and advanced medical devices along
  with rising disease burden are some of the major
  reasons behind the spiked growth of Asia-Pacific
  Africa point of care testing (POCT) devices
  market
• Further, increasing spending by government
  authorities on research and development of
  innovative and advance connected devices along
  with rising disease burden are some of the major
  reasons behind the spiked growth of Middle East
  Africa OTR (Off-the-Road) Tires market.

Sample
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