Off-road tires market size to worth around US$ 888.2 Bn by 2030 – Challenges and reasons

The off-tire industry is predicted to have a turnaround of USD 888.2 billion by 2030. In 2021, the market was worth USD 469.3 billion, and the industry will continue to grow with high consumer demand and new technology.

Off-road tires are the kind of tires that let vehicles drive through mud and rocky areas. They have a deep tread pattern, which gives the vehicle the required friction to glide over rock and boulder riddled areas. One of the reasons for the predicted high demand for off-road tires, creating a high demand for companies like GRI Tires, is the agricultural industry. Farmers continue to welcome new technology and use off-road machines to get their daily work done more productively. Excavator tires, for instance, allow farmers to transport heavy loads without tampering with the soil compaction. However, meeting the demand might be a challenge for the industry as the raw materials and research incur a high cost.