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The off-road tires market is expected to showcase robust growth through 2027 due to mounting popularity of recreational off-roading activities across the globe. Moreover, technological advancements and innovations in product design are likely to further support market growth through the forecast period.
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Industry Insights • A research study conducted by Global Market Insights, Inc., suggests that Off-road Tires Market is likely to exceed the $ 709.76 billion mark by 2027, in terms of revenue. • The off-road tires market is expected to showcase robust growth through 2027 due to mounting popularity of recreational off-roading activities across the globe. Moreover, technological advancements and innovations in product design are likely to further support market growth through the forecast period. • Off-road tires can carry vehicles over rough terrains like boulders, rocks, mud, dirt, sand, snow, and other uneven surfaces. These tires have specifically designed tread patterns, wherein the grooves between these tread blocks are broader than conventional tires. Their structure makes them more resistant to punctures, which has played a vital role in boosting business growth in recent years.
The off-road tires market has been segregated on the basis of material, tire height, vehicle, distribution channel, and region. In terms of material, the market has further been divided into natural rubber, synthetic rubber, carbon black, fabrics & wire, and others. The fabrics & wire sub-segment held a considerable share in the market in 2020 and is anticipated to register a CAGR of approximately 6.6% over the assessment timeframe. • With respect to tire height, the market has been categorized into below 31 inches, 41-45 inches, 31-40 inches, and above 45 inches. The off-road tires industry size from the 31-40 inches sub-segment is slated to exhibit strong growth at a CAGR of around 7.2% through the analysis period. The 41-45 inches sub-segment accounts for a nominal share in the market and is likely to observe a slower growth rate through 2027 than the other segments. • By distribution channel, the off-road tires market has been categorized into secondary/replacement, original equipment, and distributor/dealer equipped. The distributor/dealer equipped sub-segment is set to acquire over 24% share in terms of volume in the market by the end of 2027.
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Regional Analysis • In the regional landscape, the Latin America off-road tires market accounted for more than 8% of the overall industry revenue in 2020 and is speculated to exhibit significant growth through the forecast timeline. • Competitive Analysis • Yokohama Tire Corp. • Nokian Heavy Tyres Ltd. • Bridgestone Corporation • JK Tyre & Industries Ltd. • Nortec
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