Press release
Prominent Port & Industrial Tire Market Trend for 2025: Innovative Tires Set New Standards For Industrial Performance
Port & Industrial Tire Market Outlook
The boost in import and export operations is predicted to drive the future expansion of the port & industrial tire market. Exports involve selling products and services to a foreign nation, while imports are the process of acquiring goods from overseas and introducing them into one's own country. Port and industrial tires are primarily employed in material management and the shipment exchange between locations within a port environment, necessitating robust tires for global trade activities. For example, the Government of Canada reported that in August 2024, domestic pharmaceutical exports elevated to 12.79 in 2022, up from 10.71 in 2021, while imports ascended to 30.21 from 26.63 in 2021. This indicates growth in both export and import sectors, showcasing an expanding pharmaceutical trade industry. Hence, the escalated import and export operations are propelling the growth of the port & industrial tire market.
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What is the future CAGR of the port & industrial tire market, and how will it impact industry expansion?
In recent years, there has been a substantial expansion in the size of the port and industrial tire market. The market value, which was $8.52 billion in 2024, is predicted to increase to $9.08 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.6%. Factors contributing to this growth during the historic period include the enlargement of global trade, the boost in industrialization and infrastructure, the growth of the automotive industry, optimizations made in supply chains, and cyclical replacements and maintenance activities.
Strong development is projected for the port & industrial tire market in the upcoming years, with its value expected to climb to $12.11 billion by 2029, marking a compound annual growth rate (CAGR) of 7.5%. This growth during the forecast period is anticipated to be fuelled by factors such as the surge in e-commerce, a concentrated focus on sustainability, advancements in material handling automation, international infrastructure development, trade and tariff regulations, and recovery from the pandemic. The principal trends in the forecast period are anticipated to include global trade dynamics, advancements in tire design technology, the introduction of automation and robotics in material handling, strengthened focus on safety and environmental guidelines, the continuous growth of e-commerce, and the expansion of last-mile delivery services.
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What are the most significant trends transforming the port & industrial tire market today?
The introduction of new products is a rising trend in the port and industrial tire market. The primary corporations in this field are concentrating on producing unique, innovative solutions to consolidate their market stature. For instance, in March 2022, The Goodyear Tire & Rubber Company, a tire manufacturer based in the US, unveiled the Endurance RSA ULT and Fuel Max RSA ULT - specialist tires designed for last-mile delivery fleets and other commercial and industrial operations. The Fuel Max RSA ULT, a premium 19.5-inch tire equipped with Goodyear's Fuel Max Technology, offers a low rolling resistance tread compound that ensures increased fuel efficiency, extended wear, and a reduced cost per mile. Additionally, the Endurance RSA ULT is enhanced with IntelliMax Rib Technology, which reinforces the tire tread, augmenting its durability for delivery purposes.
Which key market segments comprise the port & industrial tire market and drive its revenue growth?
The port & industrial tire market covered in this report is segmented -
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, After market
4) By Application: Forklift, Large Industrial Trucks, Hand Trucks, Pallet Trucks, Dump Trucks
Subsegments:
1) By Solid Tire: Non-Marking Solid Tires, Heavy-Duty Solid Tires
2) By PU Tires (Polyurethane Tires): Standard PU Tires, Specialty PU Tires
3) By Cushion Tires: Rubber Cushion Tires, Foam-Filled Cushion Tires
4) By Pneumatic Tires: Industrial Pneumatic Tires, Forklift Pneumatic Tires
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What regions are at the forefront of port & industrial tire market expansion?
Asia-Pacific was the largest region in the port and industrial tires market in 2024. The regions covered in the port & industrial tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the port & industrial tire market?
Major companies operating in the port & industrial tire market include Continental AG, Cheng Shin Rubber Industry Co. Ltd., Camso Tire Inc., The Goodyear Tire and Rubber Company, Nokian Tyres PLC, Bridgestone Corporation, Balkrishna Industries Limited, Michelin & Cie Cie en Commandite par Actions, ATG Tires Inc., Firestone Tire and Rubber Company, Xuzhou Armor Rubber Company Limited, Maxxis International Co. Ltd., Sumitomo Rubber Industries Ltd., Titan Company Limited, Trelleborg AB, Advance Tire Co. Ltd., Hankook Tire & Rubber Co. Ltd., Cooper Tire & Rubber Company, Yokohama Rubber Co. Ltd., Pirelli & C. S.p.A., Toyo Tire & Rubber Co. Ltd., Kumho Tire Co. Inc., Giti Tire Co. Ltd., Linglong Tire Co. Ltd., Double Coin Holdings Ltd.
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What Is Covered In The Port & Industrial Tire Global Market Report?
• Market Size Forecast: Examine the port & industrial tire market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the port & industrial tire market for a structured understanding.
• Key Players Overview: Analyze major players in the port & industrial tire market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the port & industrial tire market.
• Segment Contributions: Evaluate how different segments drive overall growth in the port & industrial tire market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the port & industrial tire market.
• Industry Challenges: Identify potential risks and obstacles affecting the port & industrial tire market.
• Competitive Landscape: Review strategic developments in the port & industrial tire market, including expansions, agreements, and new product launches.
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