Mud Tire (MT) Market Size, Share, and Industry Report [2030]

Segments - Mud Tire (MT) Market by Types (Radial Tires and Bias-ply Tires), Applications (Aftermarket and Original Equipment Manufacturer (OEM)), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021–2028

Author : Akash Vedpathak

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

Global mud tire (MT) market is expected to expand at a CAGR of 7% during 2021-2028. The market growth is attributed to rising demand for off-road vehicles across the globe.

Mud tires, also known as mud terrain tires, are tires used for off-road vehicles (ORVs). These tires typically have aggressive track pattern and lugs with self-cleaning bars to discharge mud and other materials on tires. These tires are made from elastic compound and are primarily designed and produced to suit rough terrain, unpaved, and mud or gravel surfaces. An off-road vehicle is a type of vehicle used to climb on or drive off gravel surface and zigzag terrains. The vehicles, equipped with large tires and high capacities of flexible suspension, are widely used in traveling off-street tracks of mountains and deserts.

Market Drivers, Restraints, Trends, and Opportunities

Rapid growth of the automotive industry and the rising number of ORVs owners across the globe are the key factors that boost market growth.
Increasing adoption of the ORVs for the military and defense purposes in areas such as deserts is another key driver for the market growth.
Growing sports activities related to ORVs, rising inclination towards travel and expeditions to mountains or deserts, and exploring terrains of less travel areas especially mountains are some key factors driving the market expansion.
High cost of mud tire acts a major restraining factor that can hamper the market expansion during the forecast period.
The production of mud tire has been hampered during 2020 owing to the negative impact of the COVID-19 pandemic. This can be a major challenge expected to restrict the market growth.
Large R&D investment from key manufacturing players and technological advancement that helps the development of innovative ORVs tires are offering lucrative opportunities for the market development in the coming years.

Scope of the Report

The report on the global mud tire (MT) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Mud Tire (MT) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Types (Radial Tires and Bias-ply Tires), Applications (Aftermarket and Original Equipment Manufacturer (OEM)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Mainland, Goodyear, Sumitomo Rubber, Bridgestone, Pirelli Tire, Yokohama Rubber, Goodrich Tires, Attar Tire, Nitto Tire, Cooper, Mickey Thompson, Lexani Wheels, and Government Tires

Global Mud Tire (MT) Segment Insights

In terms of types, the market is divided into radial tires and bias-ply tires. The radial tires segment dominated the market in 2020 accounting for a market share over 40% and is expected to witness a substantial growth rate in the coming years. The segment growth can be attributed to certain advantages of the tires such as mud discharging surface and high contraction. On the other hand, the bias-ply tires segment is projected to expand at a CAGR of 4.6% during the estimate period, 2021 to 2027 owing to rising demand for the tire type among the ORVs owners.

Based on applications, the global mud tire (MT) market is segmented into aftermarket and original equipment manufacturer (OEM). The aftermarket segment held a key share of the market in 2020 and is expected to dominate the market during the forecast period owing to rising adoption of aftermarket tires sue to its easy availability and cheaper price. However, the OEM segment is projected to witness a healthy growth rate owing to the production of new style, innovative and durable, and energy costs.

On the basis of regions, the market is classified as North America, Europe, Asia Pacific, Latin America and Middle East and Africa (MEA). North America held a dominate market share in 2020 and is expected to account for a large market share in the coming years owing to the wide organization of ORVs-based sports and presence of key global players in the region. Meanwhile, the market in Asia Pacific is projected to expand at a significant CAGR during the forecast period owing to the rising recreational events as well as growing preference for travel and expedition.

Segments

The global mud tire (MT) market has been segmented on the basis of

Types

Radial Tires
Bias-ply Tires

Applications

Aftermarket
Original Equipment Manufacturer (OEM)

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Competitive Landscape

Key companies in global mud tire (MT) market include Mainland, Goodyear, Sumitomo Rubber, Bridgestone, Pirelli Tire, Yokohama Rubber, Goodrich Tires, Attar Tire, Nitto Tire, Cooper, Mickey Thompson, Lexani Wheels, and Government Tires.

Some of these companies are engaged in adopting several market strategies such as R&D activities, and capacity expansion to increase their market share and global presence.

Mud Tire (MT) Market By Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Mud Tire (MT) Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Mud Tire (MT) Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Mud Tire (MT) Market - Supply Chain
  4.5. Global Mud Tire (MT) Market Forecast
     4.5.1. Mud Tire (MT) Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Mud Tire (MT) Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Mud Tire (MT) Market Absolute $ Opportunity
5. Global Mud Tire (MT) Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Mud Tire (MT) Market Size and Volume Forecast by Types
     5.3.1. Radial Tires
     5.3.2. Bias-ply Tires
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Mud Tire (MT) Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Mud Tire (MT) Market Size and Volume Forecast by Applications
     6.3.1. Aftermarket
     6.3.2. Original Equipment Manufacturer (OEM)
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Mud Tire (MT) Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Mud Tire (MT) Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Mud Tire (MT) Demand Share Forecast, 2019-2026
8. North America Mud Tire (MT) Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Mud Tire (MT) Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Mud Tire (MT) Market Size and Volume Forecast by Types
     8.4.1. Radial Tires
     8.4.2. Bias-ply Tires
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Mud Tire (MT) Market Size and Volume Forecast by Applications
     8.7.1. Aftermarket
     8.7.2. Original Equipment Manufacturer (OEM)
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Mud Tire (MT) Demand Share Forecast, 2019-2026
9. Latin America Mud Tire (MT) Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Mud Tire (MT) Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Mud Tire (MT) Market Size and Volume Forecast by Types
     9.4.1. Radial Tires
     9.4.2. Bias-ply Tires
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Mud Tire (MT) Market Size and Volume Forecast by Applications
     9.7.1. Aftermarket
     9.7.2. Original Equipment Manufacturer (OEM)
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Mud Tire (MT) Demand Share Forecast, 2019-2026
10. Europe Mud Tire (MT) Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Mud Tire (MT) Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Mud Tire (MT) Market Size and Volume Forecast by Types
     10.4.1. Radial Tires
     10.4.2. Bias-ply Tires
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Mud Tire (MT) Market Size and Volume Forecast by Applications
     10.7.1. Aftermarket
     10.7.2. Original Equipment Manufacturer (OEM)
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Mud Tire (MT) Demand Share Forecast, 2019-2026
11. Asia Pacific Mud Tire (MT) Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Mud Tire (MT) Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Mud Tire (MT) Market Size and Volume Forecast by Types
     11.4.1. Radial Tires
     11.4.2. Bias-ply Tires
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Mud Tire (MT) Market Size and Volume Forecast by Applications
     11.7.1. Aftermarket
     11.7.2. Original Equipment Manufacturer (OEM)
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Mud Tire (MT) Demand Share Forecast, 2019-2026
12. Middle East & Africa Mud Tire (MT) Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Mud Tire (MT) Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Mud Tire (MT) Market Size and Volume Forecast by Types
     12.4.1. Radial Tires
     12.4.2. Bias-ply Tires
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Mud Tire (MT) Market Size and Volume Forecast by Applications
     12.7.1. Aftermarket
     12.7.2. Original Equipment Manufacturer (OEM)
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Mud Tire (MT) Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Mud Tire (MT) Market: Market Share Analysis
  13.2. Mud Tire (MT) Distributors and Customers
  13.3. Mud Tire (MT) Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Mainland
     13.4.2. Goodyear
     13.4.3. Sumitomo Rubber
     13.4.4. Bridgestone
     13.4.5. Pirelli Tire
     13.4.6. Yokohama Rubber
     13.4.7. Goodrich Tires
     13.4.8. Attar Tire
     13.4.9. Nitto Tire
     13.4.10. Cooper
     13.4.11. Mickey Thompson