Forklift Tire Market Report: Trends, Forecast and Competitive Analysis to 2030

Forklift Tire Trends and Forecast

The future of the global forklift tire market looks promising with opportunities in the retail/ wholesale, food/ pharma, transport/ logistics, manufacturing, automotive, ports/ terminal, mining & construction, chemical/ energy, and forestry/ wood markets. The global forklift tire market is expected to reach an estimated $2.0 billion by 2030 with a CAGR of 3.0% from 2024 to 2030. The major drivers for this market are an increase in e-commerce and large-scale storage, growth of infrastructure and building projects, as well as, technological advancements enhancing tire durability, and a focus on safety and efficiency in material handling processes.

A more than 150-page report is developed to help in your business decisions.

Forklift Tire by Segment

The study includes a forecast for the global forklift tire by tire type, material, class, application, and region.

Forklift Tire Market by Tire Type [Shipment Analysis by Value from 2018 to 2030]:

• Pneumatic Tires
• Solid Tires
• Cushion Tires
• Polyurethane Tires

Forklift Tire Market by Material [Shipment Analysis by Value from 2018 to 2030]:

• Less Than 4"
• 6"
• 8"
• 9"
• 10"
• 12"
• 13"
• 15"
• More Than 15"

Forklift Tire Market by Class [Shipment Analysis by Value from 2018 to 2030]:

• Class 1
• Class 2
• Class 3
• Class 4
• Class 5

Forklift Tire Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Retail/ Wholesale
• Food/ Pharma
• Transport/ Logistics
• Manufacturing
• Automotive
• Ports/ Terminals
• Mining & Construction
• Chemical/ Energy
• Forestry/ Wood

Forklift Tire Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Forklift Tire Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies forklift tire companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the forklift tire companies profiled in this report include-

• LARK
• Yokohama Off-Highway Tires
• Balkrishna Industries
• Bridgestone
• Camso
• China National Tire & Rubber
• Continental
• Hankook Tire & Technology
• IRC Tyre Industrial Rubber Company
• Magna Tyres

Forklift Tire Market Insights

Lucintel forecasts that polyurethane tire is expected to witness the highest growth over the forecast period because the tires are significantly more durable and resistant to punctures than other types of forklift tires.

APAC is expected to witness highest growth over the forecast period due to the rapid rise in the automotive industry in nations like China, South Korea, India, and Japan, as well as the strict regulations governing employee health and safety at work.

Features of the Global Forklift Tire Market

Market Size Estimates: Forklift tire market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Forklift tire market size by various segments, such as by tire type, material, class, application, and region in terms of value ($B).

Regional Analysis: Forklift tire market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different tire type, material, class, application, and regions for the forklift tire market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the forklift tire market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the forklift tire market size?

Answer: The global forklift tire market is expected to reach an estimated $2.0 billion by 2030.

Q2. What is the growth forecast for forklift tire market?

Answer: The global forklift tire market is expected to grow with a CAGR of 3.0% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the forklift tire market?

Answer: The major drivers for this market are an increase in e-commerce and large-scale storage, growth of infrastructure and building projects, as well as, technological advancements enhancing tire durability, and a focus on safety and efficiency in material handling processes.

Q4. What are the major segments for forklift tire market?

Answer: The future of the global forklift tire market looks promising with opportunities in the retail/ wholesale, food/ pharma, transport/ logistics, manufacturing, automotive, ports/ terminal, mining & construction, chemical/ energy, and forestry/ wood markets.

Q5. Who are the key forklift tire market companies?

Answer: Some of the key forklift tire companies are as follows.

• LARK
• Yokohama Off-Highway Tires
• Balkrishna Industries
• Bridgestone
• Camso
• China National Tire & Rubber
• Continental
• Hankook Tire & Technology
• IRC Tyre Industrial Rubber Company
• Magna Tyres

Q6. Which forklift tire market segment will be the largest in future?

Answer: Lucintel forecasts that polyurethane tire is expected to witness the highest growth over the forecast period because the tires are significantly more durable and resistant to punctures than other types of forklift tires.

Q7. In forklift tire market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to the rapid rise in the automotive industry in nations like China, South Korea, India, and Japan, as well as the strict regulations governing employee health and safety at work.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the forklift tire market by tire type (pneumatic tires, solid tires, cushion tires, and polyurethane tires), material (less than 4", 6", 8", 9", 10", 12", 13", 15", and more than 15"), class (class 1, class 2, class 3, class 4, and class 5), application (retail/ wholesale, food/ pharma, transport/ logistics, manufacturing, automotive, ports/ terminals, mining & construction, chemical/ energy, and forestry/ wood), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?