Global Material Handling Equipment Tire Market Size By Tire Type, By Equipment Type, By End-use Industries, By Geographic Scope And Forecast

Material Handling Equipment Tire Market Size And Forecast

Material Handling Equipment Tire Market size was valued at USD 1,378,597 Million in 2023 and is projected to reach USD 2,241,398 Million by 2030, growing at a CAGR of 9.01% during the forecast period 2024-2030.

Global Material Handling Equipment Tire Market Drivers

Numerous factors impact the Material Handling Equipment Tire Market, fostering its expansion and advancement. Here are a few major factors influencing the material handling equipment tire market

• Growth in the Material Handling IndustryThe need for material handling equipment tires is driven by the industry’s general expansion, which includes the construction of warehouses, distribution centers, and manufacturing facilities.
• Industrial AutomationSpecialized tires made for automated guided vehicles (AGVs) and other automated material handling equipment are required due to the growing use of automation and robotics in material handling processes.
• Warehousing and LogisticsThe need for material handling equipment tires to support the flow of items is fueled by the growing significance of effective warehousing and logistics operations, which is driven by globalization and supply chain optimization.
• Construction and Manufacturing ActivitiesForklifts and telehandlers are two examples of the material handling equipment that is essential to these industries. The demand for tires used in such equipment is directly impacted by the expansion of these sectors.
• Emphasis on Efficiency and SafetyTires are essential to the effectiveness and safety of material handling machinery. High-performance and long-lasting tires are always in demand as sectors place a premium on productivity and safety.
• Technological Developments in TiresAs businesses look for tires that satisfy particular operating requirements, advances in tire technology, such as the creation of high-traction, non-marking, and puncture-resistant tires, are helping to improve adoption.
• Growing Use of Electric ForkliftsThe need for tires appropriate for electric material handling equipment is driven by the growing use of electric forklifts, which are quieter and more ecologically friendly.
• Economic Growth and IndustrializationAs a result of increased manufacturing and infrastructure investments brought about by economic growth and industrialization in emerging economies, there is a need for material handling equipment and related tires.
• Emphasis on SustainabilityEco-friendly tires that minimize environmental effect through lower emissions and longer lifespans are becoming more popular as environmental responsibility and sustainability gain traction.
• Global Trade and Supply Chain ComplexityThe need for dependable tires that can endure a range of operating situations is fueled in part by the complexity of global supply chains and the requirement for effective material handling.
• Regulatory ComplianceThe market for tires that satisfy regulatory criteria is driven by adherence to environmental and safety regulations, particularly occupational health and safety standards.

Global Material Handling Equipment Tire Market Restraints

There are several obstacles that the material handling equipment tire market must overcome in order to continue growing and developing. The following are some typical market limitations for tires used in material handling equipment

• High Replacement CostsBusinesses may be reluctant to invest in new tires due to budgetary constraints, particularly during economic downturns, as the cost of replacing material handling equipment tires can be substantial.
• Maintenance DifficultiesPoor maintenance techniques, like incorrect tire inflation, infrequent inspections, and a delay in addressing wear problems, can cause premature tire failure and raise the frequency of replacements.
• Limited LifespanThe load capacity, operational circumstances, and frequency of usage of material handling equipment tires all affect how long they will last. This short lifespan may require replacements more often.
• Operational DowntimeThe machinery involved in tire replacement on material handling equipment must take a break. In an effort to minimize interruptions, businesses could be hesitant to carry out replacements during crucial operational times.
• Compatibility IssuesOrganizations may need to replace or alter their current tire inventory to accommodate material handling equipment that has changed in model or specification.
• Competition from Alternative MaterialsTraditional pneumatic or cushion tires may face competition from alternative materials such as solid or foam-filled tires. Alternatives may be investigated by businesses in light of things like improved durability or less maintenance requirements.
• Global Economic UncertaintyBusinesses may delay capital expenditures, such as purchases of new tires for material handling equipment, in response to economic uncertainties and downturns, which may have an impact on market demand.
• Limited AwarenessSome companies might not understand how important it is to choose the proper tires for their material handling equipment, which could result in less-than-ideal tire selections and possible performance problems.
• Environmental ImpactThe effects of tire disposal on the environment may come under more and more scrutiny from businesses and legislation. This emphasis might cause people to think about tire disposal and recycling expenses, which would affect their purchase selections.
• Disruptions in the Supply ChainVariations in tire availability and cost can result from disruptions in the supply chain for the components used in tire manufacture, such as shortages of rubber or problems with shipping.
• Preference for Used EquipmentSome companies may put cost savings ahead of all else and choose to buy used material handling equipment that still has its original tires, postponing buying new ones until absolutely essential.

Global Material Handling Equipment Tire Market Segmentation Analysis

The Global Material Handling Equipment Tire Market is Segmented on the basis of Tire Type, Equipment Type, End-use Industries, and Geography.

Material Handling Equipment Tire Market, By Tire Type

• Pneumatic Tires Filled with air, providing a cushioning effect and suitable for outdoor and rough terrain applications.
• Cushion Tires Solid rubber or polyurethane tires designed for indoor and smooth surface use, offering durability and stability.
• Solid Pneumatic Tires Solid tires with a similar appearance to pneumatic tires, providing durability and resistance to punctures.

Material Handling Equipment Tire Market, By Equipment Type

• Forklift Tires Tires designed specifically for forklift trucks, including counterbalance forklifts, reach trucks, and pallet jacks.
• Telehandler Tires Tires suitable for telehandlers used in construction and agricultural applications.
• AGV Tires Tires for Automated Guided Vehicles (AGVs) used in material handling and logistics automation.

Material Handling Equipment Tire Market, By End-use Industries

• Manufacturing Tires for material handling equipment used in manufacturing facilities and production environments.
• Warehousing and Distribution Tires designed for equipment used in warehouses and distribution centers.
• Construction Tires suitable for material handling equipment used in construction sites and infrastructure projects.
• Retail and E-commerce Tires for material handling equipment used in retail stores, fulfillment centers, and e-commerce distribution.

Material Handling Equipment Tire Market, By Geography

• North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
• EuropeAnalysis of the Material Handling Equipment Tire Market in European countries.
• Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
• Middle East and AfricaExamining market dynamics in the Middle East and African regions.
• Latin AmericaCovering market trends and developments in countries across Latin America.

Key Players

The major players in the Material Handling Equipment Tire Market are

• Camso
• Titan
• Continental
• Trelleborg
• Michelin
• Aichi
• Mitas
• Advance
• Hankook

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