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OTR tires Market Analysis by Goldstein Research-Report Sample

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Global OTR tires market is largely dominated by the Asia Pacific, with a market share of 28.0%. Asia Pacific region is anticipated to be the fastest growing OTR tire market, which is likely to expand at a CAGR of 5.2% over the forecast period owing to huge government expenditure over mining sector and rapid urbanization in the region. – PowerPoint PPT presentation

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Title: OTR tires Market Analysis by Goldstein Research-Report 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
Global OTR (Off-the-Road) Tires Market Share(),
By Region-2016-2024
Global OTR (Off-the-Road) Tires Market Size USD
(Billion). 2016-2024
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Sample
Source Goldstein Research
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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
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3
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
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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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4
Global OTR (Off-the-Road) Tires Market Size (USD
Billion)-2016-2024
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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.

5
  • 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.

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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.

6
  • 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.

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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
7
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.

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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
8
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.

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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
9
Global OTR (Off-the-Road) Tires Market
Attractiveness-By Product Type, 2016-2024
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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
10
North America OTR (Off-the-Road) Tires Market
Size (USD Billion)-2016-2024
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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
11
United States OTR (Off-the-Road) Tires Market
Size (USD Billion), Compound Annual Growth Rate
(), Y-O-Y Growth Rate (), 2016-2024
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Sample
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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.
12
North America OTR (Off-the-Road) Tires Market
Attractiveness-By Country, 2016-2024
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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
13
Michelin (Company Overview Business Strategy)
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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.

14
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Our mission is simple to develop insightful
business solutions, help our clients make
powerful future decisions to keep them well ahead
of the game which is the market, and leave a mark
across businesses and communities through our
well-defined ideas and clear cut forecasts.
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