Forklift Truck Tire Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027
Report Description
The global Forklift Truck Tire market size is estimated at USD 70,400.8 million in 2020, expanding at a CAGR of 6.6% from 2021-2027 to reach 78,006.6 million USD in 2027.
Market Dynamics
Tires are an essential component of a forklift; many types of tires, such as pneumatic tires, cushion tires, solid tires, and polyurethane tires, are utilized in forklifts. Increase the industry's utilization of cutting-edge technologies and new methods for the handling of materials, supply chain, warehousing, and transportation. A forklift is among the most prevalent types of material-handling equipment used in industry across the world. As a result, increased demand for forklifts in businesses is propelling the forklift tire market forward.
The anti-static tire technology is receiving a lot of attention in the forklift tire industry. Camso, a maker of material handling and construction tires, for example, presented its anti-static tire technology to reduce the occurrence of static shocks to users. The static shock of up to many thousand volts are dangerous for forklift fleet managers in a variety of end industries. As a result, players in the forklift tire industry are boosting their R&D strength in anti-static tire technology in order to overcome this safety concern for forklift operators.
The global expansion of e-Commerce and retailing firms is increasing the demand for warehouses that need forklifts to properly store merchandise. The increase in supply for forklifts from the e-Commerce and retail industries is increasing the forklift tire industry substantially. The growing number of warehouses throughout the world is boosting the use of forklifts and boosting the worldwide forklift tire industry.
The growing popularity of online shopping has boosted the demand for sophisticated material handling technology in warehouses. Forklifts are rapidly being used in warehouses and distribution centers by e-commerce and third-party logistics organizations in the market to enable speedy delivery of items to clients, which is driving the forklift tire market.
Regional Insights
Due to the widespread use of forklifts in Japan, China, and South Korea, Asia Pacific accounted for a sizable portion of the worldwide forklift tire market. North America is a developed economic area with a strong industrial sector. Because forklifts are widely used in the region, North America is a significant global market for forklift tires. The COVID19 epidemic has had a significant influence on the United States, resulting in widespread output cutbacks. Following the COVID19 economic tailwinds, the North American forklift tire industry is expected to increase at a steady rate.
Segment Insights
The market for Forklift Truck Tires is segmented into three segments: Type, Applications, and Others. In 2019, the electric category dominated the worldwide forklift tire market. Electric forklifts offer minimal running costs, need little maintenance, are environmentally benign, and can be used indoors. As a result, they have earned a lot of popularity. Electric forklifts are popular in regions with a developed industrial sector, such as North America, Europe, and the Asia Pacific. Developing areas such as South Asia, Latin America, the Middle East, and Africa have a large proportion of IC engine forklifts; nevertheless, they are likely to be quickly displaced by electric forklifts throughout the projection period.
Competitive Insights
Major market players are constantly involved in various strategies such as mergers, acquisitions, partnerships, and others. For example, Toyota Material Handling stated in March 2020 that it will offer short-term leases of its Toyota forklift to tackle extraordinary issues encountered by end customers. As a result, players in the forklift tire industry are capitalizing on this trend and expanding their production capacity to ensure tire supply.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses the market size and forecast of Forklift trucks by type, application, and region. In addition, this report introduces the market competition situation among the vendors, and the company profile, besides, market price analysis and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):
- Camso
- Advance
- Trelleborg
- Titan
- Mitas
- Continental
- Aichi
- Michelin
- Hankook
- The Yokohama Rubber Co. Ltd
- CEAT Ltd.
- NEXEN TIRE Corporation
- TVS Srichakra Ltd.
- Toyota Group
Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Pneumatic Forklift Tires
- Solid Forklift Tires
- Polyurethane Forklift Tires
Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Electric Forklift
- Internal Combustion (IC) Forklift
Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain, etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina, etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)
Table Of Content
1. Forklift Truck Tire Market Overview
1.1. Product Overview and Scope of Forklift Truck Tire
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Forklift Truck Tire Market Size Growth Rate Analysis by Type 2020 VS 2027
1.3.1. Pneumatic Forklift Tires
1.3.2. Solid Forklift Tires
1.3.3. Polyurethane Forklift Tires
1.4. Global Forklift Truck Tire Consumption Comparison by Application: 2020 VS 2027
1.4.1. Electric Forklift
1.4.2. Internal Combustion (IC) Forklift
1.5. Global Forklift Truck Tire Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.5.1. North America Forklift Truck Tire Estimates
1.5.2. Europe Forklift Truck Tire Estimates
1.5.3. China Forklift Truck Tire Estimates
1.5.4. Japan Forklift Truck Tire Estimates
2. Market Competition by Manufacturers
2.1. Global Forklift Truck Tire Revenue Market Share by Manufacturers (2020)
2.2. Forklift Truck Tire Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Forklift Truck Tire Average Price by Manufacturers (2016-2021)
2.4. Manufacturers Forklift Truck Tire Production Sites, Area Served, Product Types
2.5. Forklift Truck Tire Market Competitive Situation and Trends
2.5.1. Forklift Truck Tire Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Forklift Truck Tire Consumption by Region (2016-2021)
3.1. Global Forklift Truck Tire Consumption by Region
3.2. Global Forklift Truck Tire Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Forklift Truck Tire Consumption Growth Rate (2016-2021)
3.2.3. North America Forklift Truck Tire Consumption, Price and Gross Margin (2016-2021)
3.2.4. North America Forklift Truck Tire Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Forklift Truck Tire Consumption Growth Rate (2016-2021)
3.2.7. Europe Forklift Truck Tire Consumption, Price and Gross Margin (2016-2021)
3.2.8. Europe Forklift Truck Tire Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Forklift Truck Tire Consumption Growth Rate (2016-2021)
3.2.11. Asia Pacific Forklift Truck Tire Consumption, Price and Gross Margin (2016-2021)
3.2.12. Asia Pacific Forklift Truck Tire Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Forklift Truck Tire Consumption Growth Rate (2016-2021)
3.2.15. South America Forklift Truck Tire Consumption, Price and Gross Margin (2016-2021)
3.2.16. South America Forklift Truck Tire Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Forklift Truck Tire Consumption Growth Rate (2016-2021)
3.2.19. Middle East and Africa Forklift Truck Tire Consumption, Price and Gross Margin (2016-2021)
3.2.20. Middle East and Africa Forklift Truck Tire Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Forklift Truck Tire Consumption by Type (2016-2021)
4.1. Global Forklift Truck Tire Price by Type (2016-2021)
4.2. Global Forklift Truck Tire Revenue Market Share by Type (2016-2021)
4.2.1. Pneumatic Forklift Tires
4.2.2. Solid Forklift Tires
4.2.3. Polyurethane Forklift Tires
5. Global Forklift Truck Tire Consumption by Application (2016-2021)
5.1. Global Forklift Truck Tire Price by Application (2016-2021)
5.2. Global Forklift Truck Tire Revenue Market Share by Application (2016-2021)
5.2.1. Electric Forklift
5.2.2. Internal Combustion (IC) Forklift
6. Key Companies Profiled
6.1. Camso
6.1.1. Camso Forklift Truck Tire Corporation Information
6.1.2. Camso Forklift Truck Tire Product Portfolio
6.1.3. Camso Forklift Truck Tire Consumption, Price and Gross Margin (2016-2021)
6.1.4. Camso Main Business and Markets Served
6.1.5. Camso Recent Developments/Updates
6.2. Advance
6.3. Trelleborg
6.4. Titan
6.5. Mitas
6.6. Continental
6.7. Aichi
6.8. Michelin
6.9. Hankook
6.10. The Yokohama Rubber Co. Ltd
6.11. CEAT Ltd.
6.12. NEXEN TIRE Corporation
6.13. TVS Srichakra Ltd.
6.14. Toyota Group
7. Marketing Channel, Distributors and Customers
7.1. Marketing Channel
7.2. Forklift Truck Tire Distributors List
7.3. Forklift Truck Tire Customers
8. Market Dynamics
8.1. Forklift Truck Tire Industry Trends
8.2. Forklift Truck Tire Growth Drivers
8.3. Forklift Truck Tire Market Challenges
8.4. Forklift Truck Tire Market Restraints
9. Global Forklift Truck Tire Consumption and Demand Forecast, by region (2022-2027)
9.1. Global Forecasted Demand Analysis of Forklift Truck Tire, by Regions and Country
9.1.1. North America Forecasted Consumption of Forklift Truck Tire by Country
9.1.2. Europe Market Forecasted Consumption of Forklift Truck Tire by Country
9.1.3. Asia Pacific Market Forecasted Consumption of Forklift Truck Tire by Region
9.1.4. Latin America Forecasted Consumption of Forklift Truck Tire by Country
9.1.5. Middle East and Africa Forecasted Consumption of Forklift Truck Tire by Country
10. Research Finding and Conclusion
11. Methodology and Data Source
11.1. Methodology/Research Approach
11.1.1. Research Programs/Type
11.1.2. Market Size Estimation
11.1.3. Market Breakdown and Data Triangulation
11.2. Data Source
11.2.1. Secondary Sources
11.2.2. Primary Sources
11.3. Author List
11.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
Enquire Before Purchase
Frequently Asked Questions
Why Choose Market Research Strategy?
We utilize market analysis/information from verified authenticated data sources to scoop accurate research reports
We understand the urgency of our clients and their clients' in the competitive space thus, deliver the report in minimum turnaround
Without further ado, choose us and get instant access to reliable analysis to help you make the right business decisions.
We abide by the information security policy and adheres to keep your private and business information confidential and secure.