Global Construction Tire Market Segments 2024, Forecast To 2033
5 Mar, 2024
The construction tire market size has grown steadily, expanding from $1.65 billion in 2023 to $1.72 billion in 2024, with a CAGR of 4.3%. The historical growth is linked to economic conditions, infrastructure development, regulatory standards, and global trade dynamics. The 2028 forecast estimates a market size of $2.05 billion, driven by sustainable practices, autonomous vehicles in construction, global economic outlook, and climate change considerations, maintaining a CAGR of 4.5%. Major trends include digital transformation and demand for specialty tires.
Global Construction Tire Market Key Driver
The proliferation of smart city projects globally is fueling the growth of the construction tire market. Smart cities leverage information and communication technology for enhanced efficiency and infrastructure development. Government initiatives, such as the U.S. Investment and Jobs Act allocating $500 million, indicate a strong push towards smart city development. This surge in smart city projects contributes to the growth of the construction tire market, particularly in applications related to landfill and smart building construction.
Get A Free Sample Of The Global Construction Tire Market ReportGlobal Construction Tire Market Segments
The construction tire market covered in this report is segmented –
1) By Tire Type: Radial, Bias, Solid, Other Tire Type
2) By Equipment Type: Excavators, Backhoe, Bulldozers, Graders, Wheel Tractor Scraper, Trenchers, Loaders, Tower Cranes, Compactors, Other Construction Equipment
3) By Tire Size: Less than 20”, 21” to 30”, 31” to 40”, 41” to 50”, 51” to 60”, More than 61”
4) By Sales Channel: Original Equipment Manufacturer(OEM), Aftermarket
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the construction tires market in 2023. The regions covered in the construction tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Construction Tire Industry Players
Bridgestone Corporation; Apollo Tyres Ltd.; China National Tire & Rubber Co. Ltd.; CEAT Ltd.; Cooper Tire & Rubber Company; Continental AG; Hangzhou Zhongce Rubber Co. Ltd.; Giti Tire; Kumho Tire Co.Inc.; Hankook Tire & Technology Co. Ltd.; Nexen Tire Corporation; Michelin; Pirelli & C. S.p.A.; Nokian Tyres Plc.; Sumitomo Rubber Industries Ltd.; Qingdao Fullrun Tyre Corp. Ltd.; Balkrishna Industries Limited; Double Coin Tyre Group Ltd.; Prometeon Tyre Group S.R.L.; The Goodyear Tire & Rubber Company; Titan International Inc.; Trelleborg AB; Triangle Group Co. Ltd.; Yokohama Tire Corporation; Otani Tire Co. Ltd.; Linglong Tire Co. Ltd.; Guizhou Tyre Co. Ltd.; Shandong Linglong Tire Co. Ltd.; Sailun Group Co. Ltd.; Kenda Rubber Industrial Co. Ltd.; Techking Tires Ltd.; Birla Tyres
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AIOps Construction Tire Market Overview
A construction tire refers to a tire made of rubberized fabric piles over a rubber liner, with the piles' edges wrapped around a wire bead that holds the tire to the wheel rim. These tires provide traction, can self-clean, and reduce slippage, and can also help to prevent a machine from getting stuck and costing operation’s valuable time and money.
Construction Tire Global Market Report 2023 provides data on the global construction tire market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The construction tire market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.