Global Construction Tire Market: Robust Growth, Significant Players, and Emerging Trends Explored for the Forecast Period 2024-2025

Rapid strides in infrastructure development across nations propel the expanding construction tire market, projected to grow from $1.71 billion in 2024 to $1.78 billion in 2025 at a compound annual growth rate (CAGR) of 4.3%.

What Is The Projected Market Size Of The Global Construction Tire Market And Its Growth Rate?
The construction tire market has been experiencing steady growth in recent years and is segmented based on:
• Tire Type: Radial, Bias, Solid, Other
• Equipment Type: Excavators, Backhoe, Bulldozers, Graders, Wheel Tractor scraper*, Trenchers, Loaders, Tower Cranes, Compactors, Other Construction Equipment
• Tire Size: Less Than 20", 21" To 30", 31" To 40", 41" To 50", 51" To 60", More Than 61"
• Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket

The market size is expected to grow from $1.71 billion in 2024 to $1.78 billion in 2025 at a compound annual growth rate (CAGR) of 4.3%.

What Is Driving The Growth In The Construction Tire Market?
The surge in smart city projects contributes significantly to the growth of the construction tire market. Infrastructure development projects, such as the construction of roads, bridges, airports, and other public facilities, lead to increased construction activity, subsequently raising the demand for construction equipment and tires. For instance, the UK-governed organization, Office for National Statistics, reported in July 2024 that total market sector investment in infrastructure reached £13.8 billion in 2023, a 3.9% increase from 2022. Therefore, the increasing infrastructure development is the key driver for growth in the construction tire market.

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Who Are the Key Players Driving Construction Tire Market Growth?
The significant players contributing to the global construction tire market include:
• Titan International, Inc.
• Carlstar Group LLC

Their active involvement in the manufacturing, acquisition, diversification, and distribution leads to an upswing in the construction tire market.

What Are The Key Trends In The Construction Tire Market?
Key trends steering the construction tire market include:
• The surge in demand for Intelligent Tire Solutions for Connected Mobility
• Steady historic growth due to economic conditions, infrastructure development, regulatory standards, raw material prices, and global trade dynamics

What Are The Segments Of The Global Construction Tire Market?
• Tire Types: Radial, Bias, Solid, and others
• Equipment Types: Excavators, Backhoes, Bulldozers, Graders, Wheel Tractor Scrapers, Trenchers, Loaders, Tower Cranes, Compactors, and others
• Tire Sizes: Less than 20, 21 to 30, 31 to 40, 41 to 50, 51 to 60, and more than 61
• Sales Channels: Original Equipment Manufacturer (OEM), and Aftermarket

Which Region Leads The Construction Tire Market?
In February 2024, Titan International, Inc., a US-based manufacturing company, acquired Carlstar Group LLC to strengthen and diversify its product portfolio and distribution channels. With this acquisition, Titan International positioned itself as a one-stop-shop in the specialty wheel and tire market. Carlstar Group LLC, a US-based manufacturing company, specializes in producing specialty tires and wheels.

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