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India Off-the-Road Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

March 2023 | 118 pages | ID: I22005A55AB2EN
IMARC Group

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The India off-the-road tire market size reached 10.5 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 16.0 Million Units by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.

Off-the-road (OTR) tires refer to the deeply treaded tires that provide high traction over uneven surfaces, including rock, mud, loose dirt, or gravel. These tires are widely installed in numerous vehicles, including cranes, wheel loaders, telescopic handlers, tractors, all-terrain vehicles (ATVs), military trucks, specialized purpose vehicles, etc. OTR tires provide high heat and rolling resistance, better durability, enhanced vehicular performance, optimum stability, easy mobility, and reduced contact patch area. As a result, they are widely adopted across various sectors, including construction, mining, recreation, agriculture, etc.

In India, a significant growth in the construction industry has led to increasing infrastructural development activities across diverse geographic locations. Owing to this, there is a growing demand for heavy-duty construction vehicles which is further catalyzing the market for OTR tires. Additionally, the Indian government is heavily investing in the development of various commercial infrastructures across the country, such as highways, power supply grids, bridges, dams, etc., thereby augmenting the demand for OTR tires. In line with this, the elevating levels of urbanization are also driving the adoption of OTR-based cranes, lorries, trucks, etc., in the construction of modern housing complexes, corporate offices, educational facilities, retail centers, etc. Moreover, the expanding agriculture industry in the country has led to the increasing penetration of automated machinery and farm mechanization solutions. The growing adoption of OTR tire-based tractors and loaders in agricultural farms is positively influencing the market in India. Apart from this, a significant growth in the recreational sector has led to the rising deployment of OTR tires in dirt bikes, quads, ATVs, etc. Moreover, the increasing integration of advanced sensor-based technologies with OTR tires for monitoring tire pressure and temperature is further expected to drive the market growth in India over the forecast period.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India off-the-road tire market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on vehicle type, tire type, end use, distribution channel and rim size.

Breakup by Vehicle Type:

Mining Vehicles
Construction & Industrial Vehicles
Agricultural Vehicles
Others

Breakup by Tire Type:

Radial Tire
Bias Tire

Breakup by End Use:

OEM
Replacement

Breakup by Distribution Channel:

Online
Offline

Breakup by Rim Size:

Below 24 inches
24-30 inches
31-35 inches
36-39 inches
40-50 inches
51-55 inches
Above 56 inches

Breakup by Region:

North India
South India
East India
West & Central India

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Apollo Tyres Limited, Balkrishna Industries Limited, Bridgestone Corporation, CEAT Limited, Continental AG, JK Tyre & Industries Limited, Michelin, MRF Limited, The Goodyear Tyre & Rubber Company and The Yokohama Rubber Co. Ltd.

Key Questions Answered in This Report:
How has the India off-the-road tire market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the India off-the-road tire market?
What are the key regional markets?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the tire type?
What is the breakup of the market based on the end use?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the rim size?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the India off-the-road tire market and who are the key players?
What is the degree of competition in the industry?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 INDIA OFF-THE-ROAD TIRE MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY VEHICLE TYPE

6.1 Mining Vehicles
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Construction & Industrial Vehicles
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Agricultural Vehicles
  6.3.1 Market Trends
  6.3.2Market Forecast
6.4 Others
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY TIRE TYPE

7.1 Radial Tire
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Bias Tire
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY END USE

8.1 OEM
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Replacement
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY DISTRIBUTION CHANNEL

9.1 Online
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Offline
  9.2.1 Market Trends
  9.2.2 Market Forecast

10 MARKET BREAKUP BY RIM SIZE

10.1 Below 24 inches
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 24-30 inches
  10.2.1 Market Trends
  10.2.2 Market Forecast
10.3 31-35 inches
  10.3.1 Market Trends
  10.3.2 Market Forecast
10.4 36-39 inches
  10.4.1 Market Trends
  10.4.2 Market Forecast
10.5 40-50 inches
  10.5.1 Market Trends
  10.5.2 Market Forecast
10.6 51-55 inches
  10.6.1 Market Trends
  10.6.2 Market Forecast
10.7 Above 56 inches
  10.7.1 Market Trends
  10.7.2 Market Forecast

11 MARKET BREAKUP BY REGION

11.1 North India
  11.1.1 Market Trends
  11.1.2 Market Breakup by State
  11.1.3 Market Forecast
11.2 South India
  11.2.1 Market Trends
  11.2.2 Market Breakup by State
  11.2.3 Market Forecast
11.3 East India
  11.3.1 Market Trends
  11.3.2 Market Breakup by State
  11.3.3 Market Forecast
11.4 West & Central India
  11.4.1 Market Trends
  11.4.2 Market Breakup by State
  11.4.3 Market Forecast

12 SWOT ANALYSIS

12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats

13 VALUE CHAIN ANALYSIS

13.1 Overview
13.2 Raw Material Procurement
13.3 Inbound Logistic
13.4 Manufacturing
13.5 Outbound Logistic
13.6 Distribution
13.7 After Sale Services

14 PORTERS FIVE FORCES ANALYSIS

14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes

15 PRICE ANALYSIS

16 COMPETITIVE LANDSCAPE

16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
  16.3.1 Apollo Tyres Limited
    16.3.1.1 Company Overview
    16.3.1.2 Product Portfolio
    16.3.1.3 Financials
  16.3.2 Balkrishna Industries Limited
    16.3.2.1 Company Overview
    16.3.2.2 Product Portfolio
    16.3.2.3 Financials
  16.3.3 Bridgestone Corporation
    16.3.3.1 Company Overview
    16.3.3.2 Product Portfolio
    16.3.3.3 Financials
    16.3.3.4 SWOT Analysis
  16.3.4 CEAT Limited
    16.3.4.1 Company Overview
    16.3.4.2 Product Portfolio
    16.3.4.3 Financials
  16.3.5 Continental AG
    16.3.5.1 Company Overview
    16.3.5.2 Product Portfolio
    16.3.5.3 Financials
  16.3.6 JK Tyre & Industries Limited
    16.3.6.1 Company Overview
    16.3.6.2 Product Portfolio
    16.3.6.3 Financials
  16.3.7 Michelin
    16.3.7.1 Company Overview
    16.3.7.2 Product Portfolio
    16.3.7.3 Financials
    16.3.7.4 SWOT Analysis
  16.3.8 MRF Limited
    16.3.8.1 Company Overview
    16.3.8.2 Product Portfolio
    16.3.8.3 Financials
  16.3.9 The Goodyear Tyre & Rubber Company
    16.3.9.1 Company Overview
    16.3.9.2 Product Portfolio
    16.3.9.3 Financials
    16.3.9.4 SWOT Analysis
  16.3.10 The Yokohama Rubber Co. Ltd.
    16.3.10.1 Company Overview
    16.3.10.2 Product Portfolio
    16.3.10.3 Financials
    16.3.10.4 SWOT Analysis

LIST OF TABLES

Table 1: India: Off-the-Road Tire Market: Key Industry Highlights, 2022 and 2028
Table 2: India: Off-the-Road Tire Market Forecast: Breakup by Vehicle Type (in Thousand Units), 2023-2028
Table 3: India: Off-the-Road Tire Market Forecast: Breakup by Tire Type (in Thousand Units), 2023-2028
Table 4: India: Off-the-Road Tire Market Forecast: Breakup by End Use (in Thousand Units), 2023-2028
Table 5: India: Off-the-Road Tire Market Forecast: Breakup by Distribution Channel (in Thousand Units), 2023-2028
Table 6: India: Off-the-Road Tire Market Forecast: Breakup by Rim Size (in Thousand Units), 2023-2028
Table 7: India: Off-the-Road Tire Market Forecast: Breakup by Region (in Thousand Units), 2023-2028
Table 8: India: Off-the-Road Tire Market: Competitive Structure
Table 9: India: Off-the-Road Tire Market: Key Players


LIST OF FIGURES

Figure 1: India: Off-the-Road Tire Market: Major Drivers and Challenges
Figure 2: India: Off-the-Road Tire Market: Sales Volume (in Million Units), 2017-2022
Figure 3: India: Off-the-Road Tire Market: Sales Value (in Million US$), 2017-2022
Figure 4: India: Off-the-Road Tire Market Forecast: Sales Volume (in Million Units), 2023-2028
Figure 5: India: Off-the-Road Tire Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 6: India: Off-the-Road Tire Market: Breakup by Vehicle Type (in %), 2022
Figure 7: India: Off-the-Road Tire Market: Breakup by Tire Type (in %), 2022
Figure 8: India: Off-the-Road Tire Market: Breakup by End Use (in %), 2022
Figure 9: India: Off-the-Road Tire Market: Breakup by Distribution Channel (in %), 2022
Figure 10: India: Off-the-Road Tire Market: Breakup by Rim Size (in %), 2022
Figure 11: India: Off-the-Road Tire Market: Breakup by Region (in %), 2022
Figure 12: India: Off-the-Road Tire (Mining Vehicles) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 13: India: Off-the-Road Tire (Mining Vehicles) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 14: India: Off-the-Road Tire (Construction & Industrial Vehicles) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 15: India: Off-the-Road Tire (Construction & Industrial Vehicles) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 16: India: Off-the-Road Tire (Agricultural Vehicles) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 17: India: Off-the-Road Tire (Agricultural Vehicles) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 18: India: Off-the-Road Tire (Other Vehicle Types) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 19: India: Off-the-Road Tire (Other Vehicle Types) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 20: India: Off-the-Road Tire (Radial Tire) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 21: India: Off-the-Road Tire (Radial Tire) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 22: India: Off-the-Road Tire (Bias Tire) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 23: India: Off-the-Road Tire (Bias Tire) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 24: India: Off-the-Road Tire (OEM) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 25: India: Off-the-Road Tire (OEM) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 26: India: Off-the-Road Tire (Replacement) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 27: India: Off-the-Road Tire (Replacement) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 28: India: Off-the-Road Tire (Online) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 29: India: Off-the-Road Tire (Online) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 30: India: Off-the-Road Tire (Offline) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 31: India: Off-the-Road Tire (Offline) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 32: India: Off-the-Road Tire (Below 24 inches) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 33: India: Off-the-Road Tire (Below 24 inches) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 34: India: Off-the-Road Tire (24-30 inches) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 35: India: Off-the-Road Tire (24-30 inches) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 36: India: Off-the-Road Tire (31-35 inches) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 37: India: Off-the-Road Tire (31-35 inches) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 38: India: Off-the-Road Tire (36-39 inches) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 39: India: Off-the-Road Tire (36-39 inches) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 40: India: Off-the-Road Tire (40-50 inches) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 41: India: Off-the-Road Tire (40-50 inches) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 42: India: Off-the-Road Tire (51-55 inches) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 43: India: Off-the-Road Tire (51-55 inches) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 44: India: Off-the-Road Tire (Above 56 inches) Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 45: India: Off-the-Road Tire (Above 56 inches) Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 46: North India: Off-the-Road Tire Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 47: North India: Off-the-Road Tire Market: Breakup by State (in %), 2022
Figure 48: North India: Off-the-Road Tire Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 49: South India: Off-the-Road Tire Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 50: South India: Off-the-Road Tire Market: Breakup by State (in %), 2022
Figure 51: South India: Off-the-Road Tire Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 52: East India: Off-the-Road Tire Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 53: East India: Off-the-Road Tire Market: Breakup by State (in %), 2022
Figure 54: East India: Off-the-Road Tire Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 55: West & Central India: Off-the-Road Tire Market: Sales Volume (in Thousand Units), 2017 & 2022
Figure 56: West & Central India: Off-the-Road Tire Market: Breakup by State (in %), 2022
Figure 57: West & Central India: Off-the-Road Tire Market Forecast: Sales Volume (in Thousand Units), 2023-2028
Figure 58: India: Off-the-Road Tire Industry: SWOT Analysis
Figure 59: India: Off-the-Road Tire Industry: Value Chain Analysis
Figure 60: India: Off-the-Road Tire Industry: Porter’s Five Forces Analysis


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