Report Overview

UAE OTR Tire Market - Industry Trends & Forecast Report, 2029

UAE OTR tire market size was estimated at USD 91.79 million in 2022. During the forecast period between 2023 and 2029, UAE OTR tire market size is expected to grow at a CAGR of 6.26% reaching a value of USD 139.08 million by 2029. The demand for medium-sized and heavy commercial vehicles is expected to rise due to the increase in initiatives taken by the top authorities to promote the infrastructure development of the nation, such as the Abu Dhabi Metro project to improve the economic situation. The UAE OTR tire market is expanding as a result of the government's efforts to diversify its revenue streams and create new sources of income to stabilize the nation's financial situation. The increased efforts being made by market participants to expand dealerships and the introduction of novel tires to draw in more customers are expected to have an impact on market growth. The demand for tractors and agricultural vehicle equipment is rising as the agricultural sector expands. the expanding

UAE OTR Tire Market - Overview

OTR tires are a type of off-road tire that is used to provide more traction on unpaved surfaces, such as loose dirt, mud, sand, or gravel. These tires, which are typically radial with thick, deep treads, are intended for use in both on- and off-road vehicles. OTR tires that can perform in harsh conditions without sacrificing safety, quality, or performance are required for heavy-duty equipment and vehicles. OTR tires have been used in a wide range of industrial applications, including aircraft tow vehicles, articulated dump trucks, container handlers, container handler reach stackers, gantry cranes, graders, loaders, mobile cranes, pavers, rigid frame haul trucks, rubber tire dozer, rubber tire gantry crane, scraper, special purpose vehicle, straddle carrier, and many others. Off-road tires are also specifically designed to improve performance and dependability while also providing traction on a variety of unpaved surfaces such as sand, mud, and soil, among others.

Growth Drivers

Increasing Demand for OTR Tires

Infrastructure includes a growing transportation network, significant investments in highways, bridges, and tunnels for convenience, a strengthened supply chain network for better trade, expanding manufacturing industries, and building construction. Rising labor costs, the need for greater efficiency, and the need to make the best use of resources are all likely to drive up demand for mining and construction equipment.

Growth in Agriculture and Related Activities

The surge in demand for agricultural products brought on by the population's rapid growth and rising levels of rural and urban income has boosted farming activity and advanced the agricultural industry. Due to an increase in farming activities, there will be a corresponding rise in the ownership of OTR vehicles, which will increase demand for OTR tires globally as well as for replacement tires. The factors driving the demand for OTR tires in the agricultural sector are the increase in farm income and the variety of agricultural products.

Restraints

Recycling of Plastics Used in Electric Vehicle Manufacturing

Technology advancements and commercialization aided in the advancement and optimal utilization of OTR tires throughout their life cycle. Sensors that are small and easy to install are typically installed inside the pneumatic tire cavity in OTR tires as part of the tire condition monitoring system (TCMS) or Tire Pressure Monitoring System (TPMS). These electronic devices measure and transmit inflation pressure, cavity air temperature, tire belt stress and strain, normal load, traction force, acceleration, and tire wear to the driver cabin's digital device. These measurements enable the driver to determine the status of the tire and take appropriate preventive and corrective actions to avoid downtime due to flat tires.

Impact of COVID-19 on the UAE OTR Tire Market

Nearly every industry was impacted by the unprecedented global public health emergency known as COVID-19, and the long-term effects are expected to have an impact on the expansion of several end-use industries throughout the forecast period. To ensure the inclusion of underlying COVID-19 issues and potential future directions, this ongoing research expands the research framework.

UAE OTR Tire Market

Segmental Coverage

UAE OTR Tire Market - By Type

On basis of the type, UAE OTR tire market is divided into Bias, Radial, and Solid. The bias tire segment dominates the UAE OTR tire market. When compared to spiral tires, bias tires provide a smoother ride on rough surfaces. In addition, bias tires are less expensive than other spiral tires. Following the bias tire segment, the radial tire segment is expected to hold a significant portion of the UAE OTR tire market.

UAE OTR Tire Market - By Rim Size

On basis of rim size, UAE OTR tire market is divided into <25’’, 29’’– 41’’, and 51’’ – 63’. Among these, the <25’’ rim size segment holds the highest market share currently, and this trend is expected to last during the forecast period (2023–2029). The use of small to medium-sized tractors in agriculture and construction equipment in the mining and construction industries is primarily to blame for this. During the projected period, all of these factors will contribute to the growth of the UAE OTR tire market.

UAE OTR Tire Market - By Application

On basis of the application, UAE OTR tire market is divided into Loader Tires, Compactor Tires, Earth Moving Tires, Grader Tires, and other segments. L-type tires are categorized for use on wheeled loaders and dozers; they are built to handle heavy loads, cover short distances at a slow speed, and put stability first. To specify tread depth and application, L-classified tires also have a numerical designation. Earth-moving tires refer to all tires used on large machinery. Where hardened roads are scarce, such equipment is primarily used in the construction, road building, and mining industries. In these conditions, resistance, grip, and durability are put under more stress.

UAE OTR Tire Market - By End User

On basis of the end user, UAE OTR tire market is divided into Construction & Mining, Agriculture, and Industrial. The agriculture sector accounted for a sizable portion of the UAE OTR tire market. As horticulture farm vehicles become more popular around the world, interest in OTR tires will likely grow, as they have a high load-carrying capacity, which will likely move the market around the world.

UAE OTR Tire Market - By Sales Channel

On basis of the sales channel, the UAE OTR tire market is divided into OEM and Aftermarket segments. During the forecast period, the aftermarket segment is expected to grow at a faster rate. The growing demand for tire replacement in construction, agricultural, mining, and other industries drives segment growth. Maintenance requirements for machinery in these industries are expected to drive segment growth. The OEM segment is also expected to grow significantly as sales of agricultural tractors and heavy industrial vehicles with preinstalled off-road tires increase.

Competitive Landscape

Major companies in UAE OTR tire market include Michelin, Bridgestone, Goodyear, Continental, Pirelli, BKT (Balkrishna Industries Limited), JK Tyre, Nokian Tyres, Yokohama Tyres, Cheng Shin Rubber Industry, Maxam Tire, Belshina, Triangle Tyre, and Double Coin. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

• In February 2022 - Bridgestone Corporation and ENEOS Corporation launched a joint research and development project aimed at achieving the social implementation of chemical recycling technologies that enable precise pyrolysis of used tires. Through this project, Bridgestone and ENEOS aim to develop a recycling business that will convert used tires to raw materials, enabling a more sustainable society.

Scope of the Report

By Tire Type

• Bias

• Radial

• Solid

By Rim Size

• <25’’

• 29’’– 41’’

• 51’’– 63’

By Application

• Loader tires

• Compactor tires

• Earth Moving tires

• Grader tires

• Others

By End User 

• Construction & Mining

• Agriculture

• Industrial

By Sales Channel 

• OEM

• Aftermarket

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. UAE OTR Tires Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Surging demand for modern agriculture vehicles
         2. Growing concerns for safety on uneven surfaces
         3. Growing aftermarket sales
      2. Restraints
         1. Recycling of plastic material using electric vehicles
         2. High initial cost of initial investment
      3. Opportunities
         1. High demand for Off-highway vehicles in developed and developing countries
         2. Increase in construction activities across the globe
      4. Challenges
         1. Stringent regulations for emissions
   3. Product Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. UAE OTR Tires Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Tire Type
         1. Bias
         2. Radial
         3. Solid
      2. By Rim Size
         1. <25’’
         2. 29’’– 41’’
         3. 51’’– 63’
      3. By Application
         1. Loader tires
         2. Compactor tires
         3. Earth Moving tires
         4. Grader tires
         5. Others
      4. By End User 
         1. Construction & Mining
         2. Agriculture
         3. Industrial
      5. By Sales Channel 
         1. OEM
         2. Aftermarket
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. UAE OTR Tires Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
6. Impact of Covid-19 on UAE OTR Tires Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Michelin
   2. Bridgestone
   3. Goodyear
   4. Continental
   5. Pirelli
   6. BKT (Balkrishna Industries Limited)
   7. JK Tyre
   8. Nokian Tyres
   9. Yokohama Tyres
   10. Cheng Shin Rubber Industry
   11. Maxam Tire
   12. Belshina
   13. Triangle Tyre
   14. Double Coin
   15. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents
   5. Assumptions & Limitations

*Financial information in case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures                                                                                           

Figure 1       UAE OTR Tires Market Segmentation

Figure 2       UAE OTR Tires Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       UAE OTR Tires Market Size, By Value (USD Million), 2019–2029

Figure 5       UAE OTR Tires Market Share, By Tire Type, By Value, 2019–2029

Figure 6       UAE OTR Tires Market Share, By Rim Size, By Value, 2019–2029

Figure 7       UAE OTR Tires Market Share, By Application, By Value, 2019–2029

Figure 8       UAE OTR Tires Market Share, By End-User, By Value, 2019–2029

Figure 9       UAE OTR Tires Market Share, By Sales Channel, By Value, 2019–2029

List of Tables

Table 1          UAE OTR Tires Market Size, By Value (USD Million), 2019–2029

Table 2        UAE OTR Tires Market Size, By Tire Type, By Value, 2019–2029

Table 3        UAE OTR Tires Market Size, By Rim Size, By Value, 2019–2029

Table 4        UAE OTR Tires Market Size, By Application, By Value, 2019–2029

Table 5        UAE OTR Tires Market Size, By End-User, By Value, 2019–2029

Table 6        UAE OTR Tires Market Size, By Sales Channel, By Value, 2019–2029

Table 7        Michelin Company Overview

Table 8        Michelin Financial Overview

Table 9        Bridgestone Company Overview

Table 10      Bridgestone Financial Overview

Table 11      Goodyear Company Overview

Table 12      Goodyear Financial Overview

Table 13      Continental Company Overview

Table 14      Continental Financial Overview

Table 15      Pirelli Company Overview

Table 16      Pirelli Financial Overview

Table 17      BKT (Balkrishna Industries Limited) Company Overview

Table 18      BKT (Balkrishna Industries Limited) Financial Overview

Table 19      JK Tyre Company Overview

Table 20      JK Tyre Financial Overview

Table 21      Nokian Tyres Company Overview

Table 22      Nokian Tyres Financial Overview

Table 23      Yokohama Tyres Company Overview

Table 24      Yokohama Tyres Financial Overview

Table 25      Cheng Shin Rubber Industry Company Overview

Table 26      Cheng Shin Rubber Industry Financial Overview

Table 27      Maxam Tire Company Overview

Table 28      Maxam Tire Financial Overview

Table 29      Belshina Company Overview

Table 30      Belshina Financial Overview

Table 31      Triangle Tyre Company Overview

Table 32      Triangle Tyre Financial Overview

Table 33      Double Coin Company Overview

Table 34      Double Coin Financial Overview