Global Industrial Tires Market to Reach US$ 35.91 Billion by 2032, Growing at a Steady CAGR of 2.53%

According to the latest analysis by Persistence Market Research, the global Industrial Tires Market is projected to reach a valuation of US$ 30.14 billion in 2025 and is anticipated to expand to US$ 35.91 billion by 2032, registering a CAGR of 2.53% during the forecast period from 2025 to 2032. The comprehensive report delivers an in-depth understanding of the industry's growth trajectory, covering both qualitative and quantitative insights. It explores critical aspects such as market trends, drivers, restraints, emerging opportunities, government regulations, cost structures, and the competitive landscape. The report is designed to assist manufacturers, distributors, and investors in making well-informed strategic decisions in the evolving global industrial tire market.

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Scope of the Report

The Global Industrial Tires Market Report by Persistence Market Research offers a detailed examination of historical performance (2019-2024), current market conditions, and future projections (2025-2032). It encompasses technological innovations, industrial supply chain analysis, and product advancements influencing market dynamics. The report combines primary and secondary research methodologies, incorporating interviews with key industry participants, detailed company profiles, and market intelligence from reliable databases. Additionally, it provides regional insights, pricing trends, demand patterns, and future growth opportunities to help businesses capture potential revenue pockets across different markets.

Highlights and Key Insights of the Report

• The global industrial tires market size is expected to reach US$ 35.91 billion by 2032, up from US$ 30.14 billion in 2025, reflecting steady industrial demand.
• The market is projected to record a CAGR of 2.53% between 2025 and 2032.
• Construction and mining sectors remain the largest consumers of industrial tires, driven by infrastructure expansion and resource extraction activities.
• Radial tires dominate the market due to enhanced load-bearing capacity, fuel efficiency, and improved traction, though bias tires maintain strong adoption in heavy-duty, off-road applications.
• The report presents comprehensive SWOT and Porter's Five Forces analyses, detailing the competitive intensity and supply chain relationships across the global landscape.
• North America and Europe continue to represent mature markets, while East Asia and South Asia & Oceania show high growth potential due to rapid industrialization.
• Provides pricing and cost structure analysis, identifying key production hubs, import/export dynamics, and evolving trade regulations.
• Highlights the strategic moves of leading manufacturers, including product diversification, mergers, acquisitions, and sustainability-driven tire innovation.
• Offers customer behavior analysis, focusing on fleet operators, construction contractors, and agricultural equipment manufacturers.
• Identifies future revenue opportunities across niche applications such as forklifts, port handling equipment, and underground mining vehicles.

Key Players Highlighted in This Report

• Michelin
• Bridgestone Corporation
• Goodyear Tire & Rubber Company
• Continental AG
• Pirelli & C. S.p.A.
• Sumitomo Rubber Industries Ltd.
• Yokohama Rubber Company, Ltd.
• Hankook Tire & Technology Co., Ltd.
• Trelleborg AB
• MRF Limited
• Other Prominent Players

These industry leaders are consistently focusing on innovative tire compounds, enhanced durability, digital tire monitoring technologies, and strategic collaborations to maintain competitiveness and meet evolving industrial demands.

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Market Segmentation

The report categorizes the Industrial Tires Market into multiple segments for a clearer understanding of market dynamics and investment opportunities:

By Tire Type

• Radial Tires
• Bias Tires
• Belted-Bias Tires

Radial tires are expected to continue dominating the market due to superior performance characteristics and lifecycle benefits. However, bias and belted-bias tires remain vital in niche applications requiring high resistance to sidewall damage.

By Application

• Construction
• Mining
• Material Handling
• Agricultural
• Others

Construction and mining collectively account for the largest revenue share, driven by infrastructure development projects and the expansion of extraction operations in developing economies.

By Vehicle Type

• Earthmovers
• Loaders & Dozers
• Tractors
• Forklifts
• Others
Forklifts and material handling vehicles are projected to witness significant demand growth, particularly in logistics and warehousing industries worldwide.

By Region

• North America
• Europe
• East Asia
• South Asia & Oceania
• Latin America
• Middle East & Africa

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Regional Overview

North America

The North American industrial tires market remains stable due to the robust presence of established OEMs and the modernization of construction and logistics sectors. The U.S. and Canada continue to drive demand for high-performance radial and solid tires for material handling equipment and heavy machinery.

Europe

Europe holds a significant market share, propelled by the growing emphasis on sustainable tire production and circular economy principles. Leading European manufacturers are investing in eco-friendly compounds and retreadable tires, enhancing cost efficiency and environmental compliance.

East Asia

East Asia is projected to be the fastest-growing regional market, led by China, Japan, and South Korea. Expanding construction activities, mining operations, and industrial manufacturing in China are expected to stimulate strong demand for durable and high-load-bearing industrial tires.

South Asia & Oceania

This region is witnessing accelerated industrialization and infrastructure development, particularly in India and Australia. Growth is also driven by the agricultural sector's adoption of advanced machinery and increased mechanization.

Latin America

Latin America shows steady growth, fueled by mining activities in countries like Chile and Brazil and rising demand for agricultural tires. The increasing use of heavy-duty vehicles in forestry and material handling applications also supports regional expansion.

Middle East & Africa

The Middle East & Africa market benefits from mining exploration and large-scale construction projects, particularly in the GCC region. Demand for robust and heat-resistant tire solutions continues to rise due to harsh environmental conditions.

Reasons to Purchase This Report

• Gain comprehensive insights into the Industrial Tires Market's structure, size, and future outlook.
• Identify key growth drivers, opportunities, and restraints impacting the market.
• Understand market segmentation by tire type, application, vehicle type, and region.
• Evaluate competitive strategies adopted by leading tire manufacturers.
• Access pricing trends, cost analysis, and evolving demand-supply dynamics.
• Learn about regional market performance and forecasted growth patterns.
• Utilize strategic recommendations to strengthen market positioning and profitability.
• Benefit from detailed SWOT and Porter's Five Forces analyses for informed decision-making.

Important Issues Resolved in the Report

1. What is the current and projected market size of the global industrial tires market through 2032?
2. Which tire types-radial, bias, or belted-bias-are expected to lead the market?
3. Which regions represent the most lucrative opportunities for manufacturers?
4. What are the key trends and innovations shaping the industrial tire landscape?
5. Who are the top players in the market, and what are their strategic initiatives?
6. What challenges are manufacturers facing related to raw material costs and environmental compliance?
7. How will automation and digitization in industrial sectors impact future tire demand?

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Strategic Growth Outlook

The industrial tires market is set to evolve steadily as industries continue to mechanize operations and emphasize durability, safety, and operational efficiency. Tire manufacturers are focusing on smart tire technologies, incorporating sensors and data analytics for predictive maintenance, thereby reducing downtime in critical operations. Sustainability and circularity initiatives, including tire recycling and re-treading, are gaining momentum, aligning with global carbon reduction goals.

Emerging markets in Asia-Pacific and Latin America are likely to offer the highest growth potential due to expanding industrial infrastructure and increasing government investments in mining and construction. Additionally, aftermarket services and tire management solutions are becoming vital growth enablers, providing opportunities for long-term profitability.

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