Global Port and Industrial Tire Market Research Covers, Future Trends and Deep Analysis 2024-2032

Port and Industrial Tire Market Size And Forecast

Port and Industrial Tire Market size was valued at USD 8.27 Billion in 2024 and is projected to reach USD 12.88 Billion by 2031, growing at a CAGR of 5.70% from 2024 to 2031.

Port and industrial tyres are used in industrial equipment and vehicles. As the need for heavy-duty application industrial tyres grows, the tyres are particularly designed for usage in off-road settings such as ports and industrial floors. The Global Port and Industrial Tire Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Port and Industrial Tire Market Definition

A Port and Industrial Tire is a system used to improve command and control over a military unit by integrating information processing and information collecting. In addition, BMS is essential in contemporary warfare because it enables commanders at all levels to make decisions more quickly, more accurately, and quickly close the sensor to the shooter loop.

Moreover, this system provides all the advantages of BMS with the dependability and flexibility of seamless C4I connection at the lowest tactical levels, from deployed battalion/combat group headquarters to the fighting soldiers, gun tank/ICV. In order to guarantee connectivity in all battle conditions and to be able to serve users in the best locations with a higher quality of service, legacy combat net radio management and connection with a tactical internet service provider are required.

Global Port and Industrial Tire Market Overview

Port and industrial tyre demand has been met by rising material handling need together with expansion in maritime transportation and logistics. Global port & Industrial tyre market is growing as a result of new trade policies and globalisation policies established by several nations. In emerging nations like Brazil, Mexico, India, and several ASEAN nations, the demand for forklifts and port IC engine vehicles is significantly increasing. This demand is expected to propel the global port & industrial tyre market over the estimated period. The global port and industrial tyre market is being driven by rising industrialization, port logistics, and material handling operations, which raise the need for forklifts and vehicles. Port & Industrial Tires are made to be utilised in off-road situations and on industrial floors, thus they have great strength, can support huge loads, and perform well on uneven surfaces. The market for material handling vehicles and equipment is expanding, which is driving the global port and industrial tyre market. Premium tyre producers have the ability to withstand price swings and maintain competitive pricing. As a result, despite pricing volatility, small and medium-sized businesses are making data-driven decisions to designate enough funds for tyre manufacture. Small tyre manufacturers are forced to raise the price of their products to offset rising raw material costs. Raw material price volatility may hinder the port and industrial tyre market’s global expansion. The rapid spread of the COVID-19 pandemic has hampered the majority of enterprises throughout the world, thanks to compulsory lockdown, which has driven many to stay at home. The lockdown has resulted in a decrease in vehicle sales, which has slowed the growth pace of the worldwide port and industrial tyre industry. However, the worldwide port and industrial tyre market is predicted to grow beginning in 2021, owing to economic measures implemented by governments to recuperate from financial losses suffered by the forced suspension of corporate operations during the pandemic in 2020. Port and industrial tyre producers profit from key revenue-generating businesses such as manufacturing, construction, and increased import-export activity.

Global Port and Industrial Tire Market: Segmentation Analysis

The global port and industrial tire market is segmented into the type, application, sales channel, and geographical analysis.

Port and Industrial Tire Market, By Type

• Radial Tire
• Super Elastic Tires
• Treadless Tires
• Multilayer Tires

Based on the segment of type, the port and industrial tire market is classified into Radial Tire, Super Elastic Tires, Treadless Tires, and Multilayer Tires.

Port and Industrial Tire Market, By Application

• Port
• Terminal
• Airport

Based on application, On the basis of platform segment, the market is split into Port, Terminal, and Airport. In 2021, the port category accounted for a significant portion of the worldwide port & industrial tyre market. The Industrial Tire market is expanding as a result of the expansion of industrial applications, such as the use of vehicles to minimise labor-intensive tasks and rapid load transfers.

Port and Industrial Tire Market, By Sales Channel

• Aftermarket
• OEM

On the basis of sales channel, the market is segmented into Aftermarket and OEM. In 2021, the aftermarket category accounted for a significant portion of the worldwide port & industrial tyre market due to the wear and tear nature of tyres,

Port and Industrial Tire Market, By Geography

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

Based on Geography, the global port and industrial tire market is bifurcated into North America, Asia Pacific, Europe, and the Rest of the world. Asia Pacific accounts for a sizable portion of the global port and industrial tyre market. Asia Pacific’s big share is due to the vast number of port and industrial vehicles, which stimulate need for replacement tyres. Furthermore, the large presence of tyre manufacturers, rubber producers, and other enterprises promotes the expansion of the Asia Pacific tyre sector. Asia Pacific region’s natural rubber cultivation, cheap labour costs, and low land prices, manufacturing of port and industrial tyres in the Asia Pacific region is cost-effective. All of these factors are expected to enhance the Asia Pacific port and industrial tyre market over the projected period.

Key Players

The major players in the market are ATG, Armour, Balkrishna Industries, Bridgestone, Camso, Cheng Shin Rubber, Continental Tires, Cooper Tire and Rubber, Goodyear Tire and Rubber, Michelin, Nokian, and Rovince Tire, amongst others are a few major companies operating in the port and industrial tire market.

The competitive landscape section also includes a global study of the above-mentioned competitors’ primary development strategies, market share, and market ranking.

Key Developments

• In March 2021, Goodyear has revealed information on its newest tyre product, the EV-4M Port Handler, which is intended for use in the port and industrial handling sectors. The tire’s redesigned radial architecture is supposed to deliver a softer ride for higher driver comfort, as well as improved tread wear and durability over time. The tyre fulfils the industry’s current IND-4 grade, and its higher TKPH/TMPH (ton-kilometer-per-hour/ton-miles-per-hour) ratings allow for a faster operating speed over a longer distance.

Report Scope

Research Methodology of Market Research: