What Has Been The Historical And Current Growth Of The Port & Industrial Tire Market?
The port & industrial tire market has seen considerable growth due to a variety of factors.
• In recent years, there has been a substantial expansion in the size of the port and industrial tire market. The market value, which was $8.52 billion in 2024, is predicted to increase to $9.08 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.6%. Factors contributing to this growth during the historic period include the enlargement of global trade, the boost in industrialization and infrastructure, the growth of the automotive industry, optimizations made in supply chains, and cyclical replacements and maintenance activities.
What Are The Predictions for The Port & Industrial Tire Market Size Evolve over the Forecast Period?
The Port & Industrial Tire market is expected to maintain its strong growth trajectory in upcoming years.
• Strong development is projected for the port & industrial tire market in the upcoming years, with its value expected to climb to $12.11 billion by 2029, marking a compound annual growth rate (CAGR) of 7.5%.
This growth during the forecast period is anticipated to be fuelled by factors such as the surge in e-commerce, a concentrated focus on sustainability, advancements in material handling automation, international infrastructure development, trade and tariff regulations, and recovery from the pandemic. The principal trends in the forecast period are anticipated to include global trade dynamics, advancements in tire design technology, the introduction of automation and robotics in material handling, strengthened focus on safety and environmental guidelines, the continuous growth of e-commerce, and the expansion of last-mile delivery services.
Which Drivers Are Accelerating Growth In The Port And Industrial Tire Market?
The boost in import and export operations is predicted to drive the future expansion of the port & industrial tire market. Exports involve selling products and services to a foreign nation, while imports are the process of acquiring goods from overseas and introducing them into one's own country. Port and industrial tires are primarily employed in material management and the shipment exchange between locations within a port environment, necessitating robust tires for global trade activities. For example, the Government of Canada reported that in August 2024, domestic pharmaceutical exports elevated to 12.79 in 2022, up from 10.71 in 2021, while imports ascended to 30.21 from 26.63 in 2021. This indicates growth in both export and import sectors, showcasing an expanding pharmaceutical trade industry. Hence, the escalated import and export operations are propelling the growth of the port & industrial tire market.
What Are The Core Segments Of The Global Port And Industrial Tire Market?
The port & industrial tire market covered in this report is segmented –
1) By Tire Type: Solid Tire, PU Tires, Cushion Tires, Pneumatic Tires
2) By Vehicle Type: Stacker, Lift Truck, Terminal Tractor, Electric Forklift, IC Engine Forklift, IC Engine Industrial Trucks
3) By Sales Channel: OEM, After market
4) By Application: Forklift, Large Industrial Trucks, Hand Trucks, Pallet Trucks, Dump Trucks
Subsegments:
1) By Solid Tire: Non-Marking Solid Tires, Heavy-Duty Solid Tires
2) By PU Tires (Polyurethane Tires): Standard PU Tires, Specialty PU Tires
3) By Cushion Tires: Rubber Cushion Tires, Foam-Filled Cushion Tires
4) By Pneumatic Tires: Industrial Pneumatic Tires, Forklift Pneumatic Tires
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Which Emerging Trends Are Reshaping The Port And Industrial Tire Market Size?
The introduction of new products is a rising trend in the port and industrial tire market. The primary corporations in this field are concentrating on producing unique, innovative solutions to consolidate their market stature. For instance, in March 2022, The Goodyear Tire & Rubber Company, a tire manufacturer based in the US, unveiled the Endurance RSA ULT and Fuel Max RSA ULT - specialist tires designed for last-mile delivery fleets and other commercial and industrial operations. The Fuel Max RSA ULT, a premium 19.5-inch tire equipped with Goodyear's Fuel Max Technology, offers a low rolling resistance tread compound that ensures increased fuel efficiency, extended wear, and a reduced cost per mile. Additionally, the Endurance RSA ULT is enhanced with IntelliMax Rib Technology, which reinforces the tire tread, augmenting its durability for delivery purposes.
Who Are the Key Players In The Port And Industrial Tire Market?
Major companies operating in the port & industrial tire market include:
• Continental AG
• Cheng Shin Rubber Industry Co. Ltd.
• Camso Tire Inc.
• The Goodyear Tire and Rubber Company
• Nokian Tyres PLC
• Bridgestone Corporation
• Balkrishna Industries Limited
• Michelin & Cie Cie en Commandite par Actions
• ATG Tires Inc.
• Firestone Tire and Rubber Company
• Xuzhou Armor Rubber Company Limited
• Maxxis International Co. Ltd.
• Sumitomo Rubber Industries Ltd.
• Titan Company Limited
• Trelleborg AB
• Advance Tire Co. Ltd.
• Hankook Tire & Rubber Co. Ltd.
• Cooper Tire & Rubber Company
• Yokohama Rubber Co. Ltd.
• Pirelli & C. S.p.A.
• Toyo Tire & Rubber Co. Ltd.
• Kumho Tire Co. Inc.
• Giti Tire Co. Ltd.
• Linglong Tire Co. Ltd.
• Double Coin Holdings Ltd.
What Are The Regional Insights Into The Port And Industrial Tire Market?
Asia-Pacific was the largest region in the port and industrial tires market in 2024. The regions covered in the port & industrial tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
