Forklift Tire Market to Witness Comprehensive Growth by 2030

Press Releases

The global forklift tire market is estimated to expand at a CAGR of ~5% and surpass US$ 3.3 Bn by 2030, driven by the increase in adoption of forklifts across industries to improve productivity and safety of workers. The forklift tire market is largely concentrated in East Asia, Europe, and North America, owing to the presence of large industries in the region. Increasing industrialization in Latin America and Middle East & Africa is anticipated to boost the adoption of forklifts in these regions and subsequently, drive the global forklift tire market during the forecast period.

Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=64607

Expansion of Forklift Tire Market

The advent of e-Commerce and rising digitalization have fueled the logistics sector boosting the demand for forklifts in warehouses. The expansion of retail and online shopping ventures is expected to drive the forklift tire market. Rise of industries in developing countries, owing to the availability of inexpensive land and labor is boosting the adoption of forklifts and in turn driving the forklift tire market. The adoption of forklifts is increasing across industries to improve productivity and reduce accidents and injuries on shop floors. Increased adoption of forklifts in manufacturing and logistics sectors is anticipated to drive the forklift tire market during the forecast period.

Based on forklift type, the electric segment held a major share of the global forklift tire market in 2019. Electric forklifts have dominant presence in the market in North America and Europe, and the segment held a significant share in East Asia and South APAC. Electric forklifts are being widely preferred in indoor applications, as they are noiseless and do not cause pollution. Consequently, they are suitable for warehouses and shop floors.

In terms of sales channel, the aftermarket segment held a leading share of the global forklift tire market during 2019, owing to the wear & tear nature of tires. Forklift tires are replaced periodically to optimize the working of forklifts and achieve higher work productivity. The OEM segment is projected to expand at a high growth rate, owing to the increase in adoption of forklifts across industries.

Request for Discount – https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=64607

Regional Analysis of Forklift Tire Market

In terms of region, the global forklift tire market has been segregated into North America, Europe, East Asia, South APAC, Middle East & Africa, and Latin America. In terms of volume, East Asia held a leading share of the global forklift tire market, owing to high usage of forklifts in China, Japan, and South Korea. The forklift tire market is projected to expand significantly in Latin America during the forecast period. Increase in trade at ports, particularly in Mexico and Brazil, owing to increased value of exports is driving the usage of the forklifts and in turn boosting the forklift tire market. The market in East Asia, Latin America, and Middle East & Africa is anticipated to expand at a high growth rate, owing to the entry of foreign manufacturers and expansion of the logistics network in these regions.

Prominent players operating in the global forklift tire market include Bridgestone Corporation, MICHELIN, Continental AG, BKT, China National Tire Rubber & Co., and Yokohoma Corporation.

Have any queries? Inquiry about report at: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=64607

Global Forklift Tire Market: Segmentation

  • Forklift Tire Market, by Tire Type
    • Pneumatic Tire
    • Solid Tire
    • Cushion Tire
    • Polyurethane Tire
  • Forklift Tire Market, by Forklift Type
    • Electric
    • IC Engine
  • Forklift Tire Market, by Sales Channel
    • OEM
    • Aftermarket
  • Forklift Tire Market, by Region
    • North America
    • Europe
    • East Asia
    • South APAC
    • Middle East & Africa
    • Latin America

Purchase our Premium Research Report at: https://www.transparencymarketresearch.com/checkout.php?rep_id=64607&ltype=S

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information. Now avail flexible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the unified market intelligence engine. Sign Up for a 7 day free trial!


Rohit Bhisey

Transparency Market Research

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com


Follow UsTwitter | LinkedIn

Read more: https://www.digitaljournal.com/pr/forklift-tire-market-to-witness-comprehensive-growth-by-2030#ixzz7Pm0jwXu0

Shubham Jamdade

I consult businesses as a Corporate Communicator where I help companies with the growth of the market and solve their companies' growth and research challenges through my creative marketing strategies. Reach out to me in case you have something I can help with.