Report Overview

Australia and New Zealand OTR Tire Market – Industry Trends & Forecast Report, 2030

Australia and New Zealand OTR Tire Market size by value was estimated at USD 454.17 million in 2023. During the forecast period between 2024 and 2030, the Australia and New Zealand OTR Tire Market size is expected to expand at a CAGR of 5.97% reaching a value of USD 782.89 million by 2030. The Australia and New Zealand OTR (Off-The-Road) Tire Market is primarily driven by the booming mining and construction industries in these regions. Both countries have rich mineral resources, leading to a robust mining sector that demands heavy-duty machinery and equipment, including OTR tires. The continuous investment in mining projects, particularly in coal, gold, and iron ore, necessitates durable and reliable OTR tries to ensure operational efficiency and safety. Additionally, the construction industry, fueled by urbanization and infrastructure development, further propels the demand for OTR tires. Large-scale construction projects, including roads, bridges, and commercial buildings, require substantial use of heavy machinery that relies on high-performance OTR tries to navigate challenging terrains.

By volume, the Australia and New Zealand OTR Tire Market size was estimated at 245,020 units in 2023. During the forecast period between 2024 and 2030, the Australia and New Zealand OTR Tire Market size is projected to grow at a CAGR of 5.55% reaching a volume of 262,745 units by 2030. Another significant factor influencing the OTR tire market in Australia and New Zealand is the advancements in tire technology and the growing emphasis on sustainability. Manufacturers are increasingly focusing on developing tires with better durability, fuel efficiency, and environmental performance. Innovations such as tire pressure monitoring systems (TPMS), retreadable tires, and the use of eco-friendly materials are becoming more prevalent. These technological advancements enhance the lifespan and efficiency of OTR tires and also align with the global push towards reducing carbon footprints and promoting sustainable practices. This shift towards eco-friendly and technologically advanced OTR tires is attracting more consumers and businesses, thereby driving market growth.

OTR (Off-the-Road) Tires – Overview

OTR (Off-the-Road) tires are specialized tires designed for vehicles that operate in rugged, off-the-road environments, such as mining, construction, and agriculture. OTR tires are built to withstand extreme conditions, providing durability, high load capacity, and enhanced traction on uneven terrains. OTR tires come in various sizes and treads to suit different types of heavy machinery, including loaders, graders, and dump trucks. Key manufacturers in this segment include Bridgestone, Michelin, and Goodyear. Their development focuses on improving performance, safety, and lifespan to meet the demanding needs of off-road operations.

Australia and New Zealand OTR Tire Market

Growth Drivers

Increasing Number of Infrastructure Development Projects

The surge in infrastructure projects across Australia and New Zealand is a significant growth driver for the OTR (off-the-road) tire market. Both countries are experiencing increased investments in the construction, mining, and transportation sectors, leading to higher demand for robust and durable OTR tires. Major projects, including new highways, rail systems, and mining operations, require heavy-duty vehicles equipped with reliable OTR tries to ensure operational efficiency and safety. This infrastructure boom is fueling the expansion of the OTR tire market, as manufacturers respond to the growing need for specialized, high-performance tires.

Challenges

Low Rate of OTR Tire Recycling in Australia

Australia and New Zealand OTR (Off-The-Road) Tire Market is grappling with alarmingly low recycling rates. Despite the significant environmental impact, the region struggles to implement effective recycling programs for these large, industrial tires. High processing costs, logistical challenges, and insufficient regulatory incentives contribute to this issue. As the demand for OTR tires continues to grow, addressing the recycling inefficiencies becomes crucial to mitigate environmental harm and promote sustainability within the industry. Collaborative efforts between government bodies, manufacturers, and recycling firms are essential to improve these rates and ensure responsible tire disposal.

Impact of Escalating Geopolitical Tensions on Australia and New Zealand OTR Tire Market

Escalating geopolitical tensions can significantly impact the Australia and New Zealand Off-the-Road (OTR) Tire Market. These nations heavily rely on imports for their tire needs, with China being a major supplier. Tensions affecting trade relations with China could lead to disruptions in the tire supply chain, causing shortages and price hikes. Moreover, heightened geopolitical instability may deter foreign investment in the region, impacting economic growth and infrastructure projects, which are major consumers of OTR tires. For instance, strained relations between Australia and China over trade disputes or security concerns could lead to retaliatory measures affecting various industries. Consequently, the Australia and New Zealand OTR tire market could face challenges in terms of supply, pricing, and market growth amidst escalating geopolitical tensions.

Australia and New Zealand OTR Tire Market

Segmental Coverage

Australia and New Zealand OTR Tire Market – By Demand

Based on demand, Australia and New Zealand OTR Tire Market is divided into OEMs (Original Equipment Manufacturers) and Replacement segments. The replacement segment holds a major share in the Australia and New Zealand OTR Tire Market. The segment encompasses the aftermarket demand for OTR tires, catering to the replacement needs of various industries, such as mining, construction, and agriculture. With a robust demand for tire replacements driven by wear and tear, as well as maintenance requirements, the replacement segment holds significant importance in the regional OTR tire market landscape.

Australia and New Zealand OTR Tire Market – By Tire Type

On the basis of tire type, Australia and New Zealand OTR Tire Market is bifurcated into Radial Tire and Bias Tire segments. Radial tires, known for their durability and performance, are increasingly popular due to their construction using radial ply layers. They offer enhanced stability and longer tread life, ideal for heavy-duty applications. Conversely, bias tires feature diagonal ply layers, providing strength and flexibility suitable for rough terrains. While both segments cater to distinct needs, the radial tire segment dominates the market due to its superior attributes, reflecting evolving preferences and technological advancements in tire manufacturing.

Australia and New Zealand OTR Tire Market – By Tire Size

By tire size, Australia and New Zealand OTR Tire Market is divided into 24’’–30’’, 31’’–35’’, 36’’–39’’, 40’’–50’’, 51’’–55’’, and 56’’–63’’ segments. The 40’’–50’’ segment holds the largest share in the Australia and New Zealand OTR Tire Market by tire size. OTR tires of 40’’–50’’ size range represent a significant portion of the market demand, indicating a preference or necessity for tires in the specific diameter range. Factors such as the prevalence of machinery and vehicles requiring tires in this size range, along with industry standards and common applications, could contribute to the prominence of the segment in the market landscape.

Australia and New Zealand OTR Tire Market – By Vehicle Type

Based on vehicle type, Australia and New Zealand OTR Tire Market is divided into Agriculture Vehicles, Construction & Industrial Vehicles, and Mining Vehicles segments. The mining vehicles segment is the largest vehicle type in the Australia and New Zealand OTR (Off-the-Road) Tire Market. The mining sector dominates the OTR tire market due to the extensive use of OTR tires in mining operations, where robust tires are crucial for heavy-duty vehicles traversing rugged terrains. Mining activities demand durable tires capable of withstanding harsh conditions, making the segment a significant contributor to the regional market. While agriculture vehicles and construction & industrial vehicles segments also play essential roles, it is the demand from the mining sector that likely stands out as the most substantial driving force behind the OTR tire market in the region.

Competitive Landscape

Major players in the Australia and New Zealand OTR Tire Market include Bridgestone Corporation, Goodyear Tire & Rubber Company, Michelin, Continental AG, Yokohama Rubber Co., Ltd, Pirelli & C. S.p.A., Trelleborg AB, and Apollo Tyres Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Demand

• • OEMs (Original Equipment Manufacturers)

  • Replacement

By Tire Type

• • Radial Tire

  • Bias Tire

By Tire Size

• • 24’’–30’’

  • 31’’–35’’

  • 36’’–39’’

  • 40’’–50’’

  • 51’’–55’’

  • 56’’–63’’

By Vehicle Type

• • Agriculture Vehicles

  • Construction & Industrial Vehicles

  • Mining Vehicles

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Australia and New Zealand OTR Tire Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising Infrastructure Projects in Australia and New Zealand
         2. Increasing Demand for Heavy Mining and Construction Vehicles
      2. Restraints
         1. Low OTR Tire Recycling Rates in Australia
         2. Fluctuations in Global Commodity Prices
      3. Opportunities
         1. Technological Advancements in OTR Tire Design and Manufacturing
         2. Growing Focus on Sustainable OTR Tire Management
      4. Challenges
         1. Stringent Regulations on OTR Tire Waste Disposal
         2. Intense Competition from Global OTR Tire Manufacturers
   3. Technological 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. Australia and New Zealand OTR Tire Market: Marketing Strategies
5. Australia and New Zealand OTR Tire Market: Pricing Analysis
6. Australia and New Zealand OTR Tire Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Demand
         1. OEMs (Original Equipment Manufacturers)
         2. Replacement
      2. By Tire Type
         1. Radial Tire
         2. Bias Tire
      3. By Tire Size
         1. 24’’–30’’
         2. 31’’–35’’
         3. 36’’–39’’
         4. 40’’–50’’
         5. 51’’–55’’
         6. 56’’–63’’
      4. By Vehicle Type
         1. Agriculture Vehicles
         2. Construction & Industrial Vehicles
         3. Mining Vehicles
         4. Others
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Australia and New Zealand OTR Tire Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on Australia and New Zealand OTR Tire Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Bridgestone Corporation
   2. Goodyear Tire & Rubber Company
   3. Michelin
   4. Continental AG
   5. Yokohama Rubber Co., Ltd
   6. Pirelli & C. S.p.A.
   7. Trelleborg AB
   8. Apollo Tyres Ltd
   9. Other Prominent Players
10. Key Strategic Recommendations
11. 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, By Country
    5.   Assumptions & Limitations

*Financial information 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       Australia and New Zealand OTR Tire Segmentation

Figure 2       Australia and New Zealand OTR Tire Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Australia and New Zealand OTR Tire Market Size, By Value (USD Million), 2019–2030

Figure 5       Australia and New Zealand OTR Tire Market Share, By Demand, By Value, 2019–2030

Figure 6       Australia and New Zealand OTR Tire Market Share, By Tire Type, By Value, 2019–2030

Figure 7       Australia and New Zealand OTR Tire Market Share, By Tire Size, By Value, 2019–2030

Figure 8       Australia and New Zealand OTR Tire Market Share, By Vehicle Type, By Value, 2019–2030

List of Tables

Table 1        Australia and New Zealand OTR Tire Market Size, By Value (USD Million), 2019–2030

Table 2        Australia and New Zealand OTR Tire Market Size, By Demand, By Value, 2019–2030

Table 3        Australia and New Zealand OTR Tire Market Size, By Tire Types, By Value, 2019–2030

Table 4        Australia and New Zealand OTR Tire Market Size, By Tire Size, By Value, 2019–2030

Table 5        Australia and New Zealand OTR Tire Market Size, By Vehicle Type, By Value, 2019–2030

Table 6        Bridgestone Corporation Company Overview

Table 7        Bridgestone Corporation Financial Overview

Table 8        Goodyear Tire & Rubber Company Overview

Table 9        Goodyear Tire & Rubber Financial Overview

Table 10      Michelin Company Overview

Table 11      Michelin Financial Overview

Table 12      Continental AG Company Overview

Table 13      Continental AG Financial Overview

Table 14      Yokohama Rubber Co., Ltd Company Overview

Table 15      Yokohama Rubber Co., Ltd Financial Overview

Table 16      Pirelli & C. S.p.A. Company Overview

Table 17      Pirelli & C. S.p.A. Financial Overview

Table 18      Trelleborg AB Company Overview

Table 19      Trelleborg AB Financial Overview

Table 19        Apollo Tyres Ltd Company Overview

Table 19        Apollo Tyres Ltd Financial Overview