Port & Industrial Tire Global Market Report 2023

“Port & Industrial Tire Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on port & industrial tire market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for port & industrial tire? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The port & industrial tire market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 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; Aftermarket

• 4) By Application: Forklift; Large Industrial Trucks; Hand Trucks; Pallet Trucks; Dump Trucks

• Companies Mentioned: Continental AG; Cheng Shin Rubber Industry Co.; Camso Tires; The Goodyear Tire and Rubber Company; Nokian Tyres PLC

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the port and industrial tire market are Continental AG, Cheng Shin Rubber Industry Co., Camso Tires, The Goodyear Tire and Rubber Company, Nokian Tyres PLC, Rovince Tire, Bridgestone Corporation, Balkrishna Industries Limited, Xuzhou Armour Rubber Company Ltd., Michelin, ATG tires, Firestone Tire and Rubber Company, Xuzhou Armor Rubber Company Limited, Maxxis, and Sumitomo Rubber Industries Ltd.

The global port and industrial tire market is expected to grow from $7.67 billion in 2022 to $8.25 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The port and industrial tire market is expected to reach $10.61 billion in 2027 at a CAGR of 6.5%.

The port and industrial tire market consists of sales of rubber tires, radial tires, bias tires, and press-on-band tires. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Port and industrial tires refer to tires that provide effective performance for shuttle sprinter carriers, straddle carriers, reach stackers, container handlers, and other comparable machinery. These industrial tires are intended for use in port and marina applications that need large loads and extensive cycle durations.

Asia-Pacific was the largest region in the port and industrial tires market in 2022. The regions covered in port and industrial tire report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of port and industrial tires are solid tires, PU (polyurethane) tires, cushion tires, and pneumatic tires. Solid tire refers to tires made of rubber or another elastic material that sustain loads without confined air. These tires are very cost-effective and have a high loading capability. It is used in several types of vehicles, such as stacker trucks, lift trucks, terminal tractors, electric forklifts, IC engine forklifts, and IC engine industrial trucks, that are sold through OEM (Original Equipment Manufacturer) and aftermarket. These are used in several applications, including forklifts, large industrial trucks, hand trucks, pallet trucks, and dump trucks.

The increased import and export activities are expected to propel the growth of the port & industrial tire market going forward. Exporting is the sale of goods and services to a foreign country. Importing, on the other hand, is the act of getting products from outside and bringing them into one's own country. Port and industrial tires are primarily used in material handling and the trading of shipments from one place to another in port area, that require strudy tires for global trading activities. For instance, in February 2022, according to the Global Trade report shared by the United Nations Conference On Trade And Development (UNCTAD), a Switzerland-based intergovernmental organization within the United Nations Secretariat, in 2021, global trade rebounded from the pandemic, increasing by more than $6 trillion from 2020 to a record high of more than $28 trillion. This represents a 25% increase over 2020 and a 13% increase over 2019. Therefore, the increased import and export activities are driving the growth of the port & industrial tire market.

Product innovations are a key trend gaining popularity in the port & industrial tire market. Major companies operating in the port & industrial tire market are focused on developing new innovative solutions to strengthen their position in the market. For instance, in March 2022, The Goodyear Tire & Rubber Company, a US-based tire manufacturing company, launched the new Endurance RSA ULT and Fuel Max RSA ULT, innovative specialized tires for last-mile delivery fleets and other commercial and industrial activities. Fuel Max RSA ULT is Goodyear's premium 19.5-inch with new features including Goodyear's Fuel Max Technology, a tread compound that provides low rolling resistance for increased fuel efficiency, longer wear, and a cheaper cost per mile. Endurance RSA ULT features IntelliMax Rib Technology, stiffens tire tread, giving it extra durability for deliveries.

In March 2022, The Yokohama Rubber Co., Ltd., a Japan-based tire manufacturing company, will be acquiring Trelleborg AB's Wheel Systems business for an undisclosed amount. This TWS acquisition will help Yokohama Rubber expand its OHT business, which YX2023 has identified as a future growth driver for the Company's commercial tire business. This deal would assist the tire division of Yokohama Rubber in achieving a more ideal sales composition. Trelleborg AB is a Sweden-based producer of industrial tires.

The countries covered in the port and industrial tire market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The port & industrial tire market research report is one of a series of new reports from The Business Research Company that provides port & industrial tire market statistics, including port & industrial tire industry global market size, regional shares, competitors with a port & industrial tire market share, detailed port & industrial tire market segments, market trends and opportunities, and any further data you may need to thrive in the port & industrial tire industry. This port & industrial tire market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.