Middle East and Africa OTR Tire Market, By Tires Type ; By Vehicle Type ; By Application ; By Sales Channel ; By Country, Trend Analysis, Competitive Landscape & Forecast, 2022-2028

List of Tables

Middle East and Africa OTR Tire Market Set to Grow at a Steady CAGR of 4.3% during 2022-2028

Middle East and Africa OTR (off-the-road) tire market is growing because of rising construction and mining activity, mega infrastructure development projects, rising government funding for agriculture machinery, and surging demand for affordable and sustainable tires.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Middle East and Africa OTR (Off-The-Road) tire market size to grow at a CAGR of 4.3% during the forecast period between 2022 and 2028. The expansion of Middle East and Africa OTR tire market is driven by increasing number of large construction, mining, and industrial activities; growing infrastructure development to facilitate economic diversification; and rising government investments in agricultural machinery and non-oil industries. Additionally, the growth of the real estate sector in emerging economies has expanded the market for construction and material handling equipment due to increasing labor costs, the need for improved productivity, and the need to maximize resource utilization, which is expected to significantly boost the growth of the OTR tire market in the region. Agricultural operations, such as crop plotting and scouting as well as irrigation purposes, necessitate the use of utility OTR vehicles to carry out major day-to-day tasks. The use of farm machinery necessitates the replacement or retreading of OTR tires at regular intervals. As a result, these factors could drive the overall market growth. Moreover, innovations that coincide with the emergence of end-use industries, such as smart tire integration for improving industrial fleets and connecting on-tire sensors to patent data analytics to expedite maintenance and other operations, are expected to fuel the growth of Middle East and Africa OTR tire market during the period in analysis. However, high-cost R&D activities and low-cost tire alternatives are anticipated to limit the growth of Middle East and Africa OTR tire market.

Middle East and Africa OTR Tire Market - Overview

OTR tires are a type of off-road tire that is designed to provide additional grip on unpaved terrains, such as loose dirt, mud, sand, or gravel. These tires, normally radial with thick deep treads, are intended to be utilized in both on-and off-road vehicles. OTR tires that can function in tough conditions without compromising on safety, quality, or efficiency are necessary for heavy-duty equipment and automobiles. OTR tires market is comprised of manufacturers, sole traders, and partnerships that distribute OTR tires for heavy duty vehicles, such as rigid dump trucks, loaders, and reach stackers, for ports, construction sites, and surface or underground mining. The OTR tire market serves various industries and organizations, such as agriculture, mining and quarrying, and construction. OTR tires are developed for cars that routinely drive on rough surface. They support significant amount of mass and steer the vehicles through difficult terrains.

Middle East and Africa OTR Tire Market - By Application

Based on application, Middle East and Africa OTR tire market is divided into Construction & Mining, Agriculture, and Industrial segments. The construction and mining segment is expected to hold the highest market share in the Middle East and Africa OTR tire market owing to the presence of countries, such as the UAE, Saudi Arabia, and South Africa, where a substantial number of development projects are underway, increasing the demand for heavy vehicles, which in turn increases the demand for OTR tires in the Middle East and Africa region. Furthermore, OTR tires enable flexibility, a comfortable ride, and stability at high speeds on construction sites, enhancing productivity and efficiency and thereby increasing the necessity for OTR tires for construction applications.

Impact of COVID-19 on Middle East and Africa OTR Tire Market

COVID-19 had a detrimental impact on the Middle East and Africa OTR tire market. Construction had come to a halt in the initial half of 2020 due to the pandemic. Industry closure, reverse labor migration in the Middle East, and inadequate logistics support for construction equipment made an impact on the entire construction industry. Furthermore, the decline of crude oil prices and supply during the same period restricted the construction activities in several Middle Eastern and African economies, adversely affecting the new orders for OTR tires. This, in turn, hampered the growth of Middle East and Africa OTR tire market.

Competitive Landscape

Middle East and Africa OTR Tire Market is fiercely competitive. Prominent players in the market include Bridgestone Middle East & Africa FZE, Promoteon Tire Group S.R.L., Triangle Tire Co. Ltd., Petlas Lastik San. Tic. Inc., MRF Limited, The Goodyear Tire & Rubber Co., Balkrishna Industries Limited, Yokohama Rubber Company, JK Tires and Industries, and Compagnie Generale des Etablissements Michelin SCA (Michelin SCA). To further enhance their market share, these players are primarily focused on the development of innovative and efficient products, new product releases, mergers and acquisitions, collaborations, partnerships, and joint ventures.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Middle East and Africa OTR Tire Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Middle East and Africa OTR Tire Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC22522

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Middle East and Africa OTR Tire Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Increasing number of construction and mining activities
  - 3.2.1.2. Government subsidies for agricultural machinery
  - 3.2.1.3. Increasing need for affordable and sustainable tires
- 3.2.2. Restraints
  - 3.2.2.1. Expensive research and development activities
  - 3.2.2.2. Low-cost tires from unorganized markets
- 3.2.3. Opportunities
  - 3.2.3.1. Increasing technology advancements
  - 3.2.3.2. Environmental protection programs
- 3.2.4. Challenges
  - 3.2.4.1. Volatile raw material prices
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Middle East and Africa OTR Tire Market Overview

4.1. Market Size & Forecast by Value, 2018-2028
- 4.1.1. By Value (USD Billion)
4.2. Market Share & Forecast
- 4.2.1. By Tires Type
  - 4.2.1.1. Radial
  - 4.2.1.2. Bias
  - 4.2.1.3. Solid
- 4.2.2. By Vehicle Type
  - 4.2.2.1. Loader
  - 4.2.2.2. Dump Truck
  - 4.2.2.3. Excavator
  - 4.2.2.4. Grader
  - 4.2.2.5. Cranes
  - 4.2.2.6. Others
- 4.2.3. By Application
  - 4.2.3.1. Construction & Mining
  - 4.2.3.2. Agriculture
  - 4.2.3.3. Industrial
  - 4.2.3.4. Others
- 4.2.4. By Sales Channel
  - 4.2.4.1. OEM
  - 4.2.4.2. Aftermarket
- 4.2.5. By Country
  - 4.2.5.1. Saudi Arabia
  - 4.2.5.2. UAE
  - 4.2.5.3. Turkey
  - 4.2.5.4. Qatar
  - 4.2.5.5. Oman
  - 4.2.5.6. Bahrain
  - 4.2.5.7. Kuwait
  - 4.2.5.8. South Africa
  - 4.2.5.9. Egypt
  - 4.2.5.10. Nigeria
  - 4.2.5.11. Kenya
  - 4.2.5.12. Rest of Middle East and Africa

5. Saudi Arabia OTR Tire Market Overview

5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Billion)
5.2. Market Share & Forecast
- 5.2.1. By Tires Type
- 5.2.2. By Vehicle Type
- 5.2.3. By Application
- 5.2.4. By Sales Channel

6. UAE OTR Vehicle Market Overview

6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Billion)
6.2. Market Share & Forecast
- 6.2.1. By Tires Type
- 6.2.2. By Vehicle Type
- 6.2.3. By Application
- 6.2.4. By Sales Channel

7. Turkey OTR Vehicle Market Overview

7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
- 7.2.1. By Tires Type
- 7.2.2. By Vehicle Type
- 7.2.3. By Application
- 7.2.4. By Sales Channel

8. Qatar OTR Vehicle Market Overview

8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
- 8.2.1. By Tires Type
- 8.2.2. By Vehicle Type
- 8.2.3. By Application
- 8.2.4. By Sales Channel

9. Oman OTR Vehicle Market Overview

9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
- 9.2.1. By Tires Type
- 9.2.2. By Vehicle Type
- 9.2.3. By Application
- 9.2.4. By Sales Channel

10. Bahrain OTR Vehicle Market Overview

10.1. Market Size & Forecast by Value, 2018-2028
- 10.1.1. By Value (USD Billion)
10.2. Market Share & Forecast
- 10.2.1. By Tires Type
- 10.2.2. By Vehicle Type
- 10.2.3. By Application
- 10.2.4. By Sales Channel

11. Kuwait OTR Vehicle Market Overview

11.1. Market Size & Forecast by Value, 2018-2028
- 11.1.1. By Value (USD Billion)
11.2. Market Share & Forecast
- 11.2.1. By Tires Type
- 11.2.2. By Vehicle Type
- 11.2.3. By Application
- 11.2.4. By Sales Channel

12. South Africa OTR Vehicle Market Overview

12.1. Market Size & Forecast by Value, 2018-2028
- 12.1.1. By Value (USD Billion)
12.2. Market Share & Forecast
- 12.2.1. By Tires Type
- 12.2.2. By Vehicle Type
- 12.2.3. By Application
- 12.2.4. By Sales Channel

13. Egypt OTR Vehicle Market Overview

13.1. Market Size & Forecast by Value, 2018-2028
- 13.1.1. By Value (USD Billion)
13.2. Market Share & Forecast
- 13.2.1. By Tires Type
- 13.2.2. By Vehicle Type
- 13.2.3. By Application
- 13.2.4. By Sales Channel

14. Nigeria OTR Vehicle Market Overview

14.1. Market Size & Forecast by Value, 2018-2028
- 14.1.1. By Value (USD Billion)
14.2. Market Share & Forecast
- 14.2.1. By Tires Type
- 14.2.2. By Vehicle Type
- 14.2.3. By Application
- 14.2.4. By Sales Channel

15. Kenya OTR Vehicle Market Overview

15.1. Market Size & Forecast by Value, 2018-2028
- 15.1.1. By Value (USD Billion)
15.2. Market Share & Forecast
- 15.2.1. By Tires Type
- 15.2.2. By Vehicle Type
- 15.2.3. By Application
- 15.2.4. By Sales Channel

16. Competitive Landscape

16.1. List of Key Players and Their Offerings
16.2. Market Share Analysis, 2021
16.3. Competitive Benchmarking, By Operating Parameters
16.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)

17. Impact of Covid-19 on Middle East and Africa OTR Tire Market

18. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

18.1. Bridgestone Middle East & Africa FZE
18.2. Promoteon Tire Group S.R.L.
18.3. Triangle Tire Co. Ltd.
18.4. Petlas Lastik San. Tic. Inc.
18.5. MRF Limited
18.6. The Goodyear Tire & Rubber Co.
18.7. Balkrishna Industries Limited
18.8. Yokohama Rubber Company
18.9. JK Tires and Industries
18.10. Compagnie Generale des Etablissements Michelin SCA (Michelin SCA)
18.11. Other Prominent Players

19. Key Strategic Recommendations

20. Research Methodology

20.1. Qualitative Research
- 20.1.1. Primary & Secondary Research
20.2. Quantitative Research
20.3. Market Breakdown & Data Triangulation
- 20.3.1. Secondary Research
- 20.3.2. Primary Research
20.4. Breakdown of Primary Research Respondents, By Region
20.5. Assumption & Limitation

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

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