Market Overview:
The global industrial truck tire market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for forklift trucks across various industries, owing to their ability to handle heavy loads efficiently. Additionally, the growing trend of warehouse automation is also contributing significantly towards the growth of this market. On the basis of type, pneumatic forklift tires are expected to account for a major share in terms of revenue in 2018 and beyond. This can be attributed primarily due their high durability and superior performance as compared with other types of tires available in this market.
Product Definition:
industrial truck tire refers to the large tires used on trucks in factories, warehouses, and other industrial settings. They are often called "forklift tires" because that is the most common type of vehicle that uses them. Industrial truck tires are important because they provide a lot of traction and durability for moving heavy objects around in a factory or warehouse setting.
Pneumatic Forklift Tires:
Pneumatic forklift tires are used in industrial trucks for the transportation of materials and goods. The growing demand for automation in industries is expected to drive the market over the forecast period. Automation helps increase productivity by reducing human intervention, which is expected to propel industry growth over the next seven years.
Solid Forklift Tires:
Solid forklift tires are used in industrial trucks for the transportation of heavy goods. These tires are made up of rubber and plastic materials, which make them strong enough to carry heavy loads over a longer distance without getting damaged or worn out. The material composition of solid forklift tires is designed in such a way that they can sustain punctures and tears from sharp metal edges or other road hazards without getting deflated.
Application Insights:
OEMs held around 69.0% of the global market share in terms of revenue in 2017. The high penetration is attributable to the fact that most OEMs have their manufacturing facilities at several locations globally, which enables them to locally source tires for replacement or refurbishment and also maintain control over price fluctuations.
The aftermarket segment is projected to expand at a CAGR of XX% from 2018 to 2030 owing to various benefits provided by it, such as cost-effective pricing and wide distribution network with presence across major economies worldwide.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a revenue share of more than 35% in 2017 owing to high demand from OEMs as well as aftermarket customers. China, India, Japan, South Korea are some of the major countries that contributed significantly towards regional growth.
The growing manufacturing sector across Asia Pacific has led to an increase in industrial activities such as metal processing, oil & gas exploration and production among others which resulted into increased sales of trucks across various industries thereby driving industry growth.
Europe was another significant contributor towards industry growth with a revenue share exceeding 20%. The presence of prominent players coupled with technological advancements have been responsible for regional market development over the past few years.
Growth Factors:
- Increasing demand for industrial trucks in the transportation and logistics sector
- Rising adoption of green technologies in industrial truck tires
- Growing demand for lightweight and fuel-efficient tires
- Proliferation of online retailing that is boosting the need for faster and efficient delivery services
- Increasing investments by tire manufacturers in research and development to develop innovative products
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Truck Tire Market Research Report
By Type
Pneumatic Forklift Tires, Solid Forklift Tires, Polyurethane Forklift Tires
By Application
OEM, Aftermarket
By Companies
Camso, Titan, Continental, Trelleborg, Michelin, Aichi, Mitas, Advance, Hankook
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
182
Number of Tables & Figures
128
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Truck Tire Market Report Segments:
The global Industrial Truck Tire market is segmented on the basis of:
Types
Pneumatic Forklift Tires, Solid Forklift Tires, Polyurethane Forklift Tires
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
OEM, Aftermarket
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Camso
- Titan
- Continental
- Trelleborg
- Michelin
- Aichi
- Mitas
- Advance
- Hankook
Highlights of The Industrial Truck Tire Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Pneumatic Forklift Tires
- Solid Forklift Tires
- Polyurethane Forklift Tires
- By Application:
- OEM
- Aftermarket
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Truck Tire Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Industrial truck tires are designed to provide a smooth, consistent ride over a variety of surfaces. They are also designed to be durable and able to withstand heavy loads.
Some of the key players operating in the industrial truck tire market are Camso, Titan, Continental, Trelleborg, Michelin, Aichi, Mitas, Advance, Hankook.
The industrial truck tire market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Truck Tire Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial Truck Tire Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Truck Tire Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial Truck Tire Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial Truck Tire Market Size & Forecast, 2018-2028
4.5.1 Industrial Truck Tire Market Size and Y-o-Y Growth
4.5.2 Industrial Truck Tire Market Absolute $ Opportunity
Chapter 5 Global Industrial Truck Tire Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Industrial Truck Tire Market Size Forecast by Type
5.2.1 Pneumatic Forklift Tires
5.2.2 Solid Forklift Tires
5.2.3 Polyurethane Forklift Tires
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Industrial Truck Tire Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Industrial Truck Tire Market Size Forecast by Applications
6.2.1 OEM
6.2.2 Aftermarket
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial Truck Tire Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Industrial Truck Tire Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Industrial Truck Tire Analysis and Forecast
9.1 Introduction
9.2 North America Industrial Truck Tire Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Industrial Truck Tire Market Size Forecast by Type
9.6.1 Pneumatic Forklift Tires
9.6.2 Solid Forklift Tires
9.6.3 Polyurethane Forklift Tires
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Industrial Truck Tire Market Size Forecast by Applications
9.10.1 OEM
9.10.2 Aftermarket
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Industrial Truck Tire Analysis and Forecast
10.1 Introduction
10.2 Europe Industrial Truck Tire Market Size 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 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Industrial Truck Tire Market Size Forecast by Type
10.6.1 Pneumatic Forklift Tires
10.6.2 Solid Forklift Tires
10.6.3 Polyurethane Forklift Tires
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Industrial Truck Tire Market Size Forecast by Applications
10.10.1 OEM
10.10.2 Aftermarket
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Industrial Truck Tire Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Industrial Truck Tire Market Size 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 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Industrial Truck Tire Market Size Forecast by Type
11.6.1 Pneumatic Forklift Tires
11.6.2 Solid Forklift Tires
11.6.3 Polyurethane Forklift Tires
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Industrial Truck Tire Market Size Forecast by Applications
11.10.1 OEM
11.10.2 Aftermarket
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Industrial Truck Tire Analysis and Forecast
12.1 Introduction
12.2 Latin America Industrial Truck Tire Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Industrial Truck Tire Market Size Forecast by Type
12.6.1 Pneumatic Forklift Tires
12.6.2 Solid Forklift Tires
12.6.3 Polyurethane Forklift Tires
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Industrial Truck Tire Market Size Forecast by Applications
12.10.1 OEM
12.10.2 Aftermarket
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Industrial Truck Tire Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Industrial Truck Tire Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Industrial Truck Tire Market Size Forecast by Type
13.6.1 Pneumatic Forklift Tires
13.6.2 Solid Forklift Tires
13.6.3 Polyurethane Forklift Tires
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Industrial Truck Tire Market Size Forecast by Applications
13.10.1 OEM
13.10.2 Aftermarket
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Industrial Truck Tire Market: Competitive Dashboard
14.2 Global Industrial Truck Tire Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Camso
14.3.2 Titan
14.3.3 Continental
14.3.4 Trelleborg
14.3.5 Michelin
14.3.6 Aichi
14.3.7 Mitas
14.3.8 Advance
14.3.9 Hankook
