Home > Automotive > Automotive Parts > Tires and Wheels > Material Handling Equipment Tire Market

Material Handling Equipment Tire Market Trends

Report ID: GMI7977
Published Date: Jan 2024
Report Format: PDF

Download Free Sample

Material Handling Equipment Tire Market Trends

The rising demand for electric forklift is accelerating a surge in non-marking tires, contributing to the transformation of the material handling equipment tires industry. This trend aligns with eco-friendly practices, as non-marking tires reduce carbon emissions and floor marking. As industries transition towards cleaner and sustainable solutions, the adoption of electric forklifts and the corresponding demand for non-marking tires play a pivotal role in driving the market's growth while meeting environmental standards.

Manufacturers are actively designing and producing the latest iterations of tires to meet specific requirements, offering a diverse range of options. For instance, in 2021, Trelleborg Wheel Systems, a supplier of tires and wheels, unveiled its latest tire range designed for forklift operations, known as the XP800. This new product line delivers outstanding performance in material-handling applications with a medium intensity level.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of material handling equipment tire reached USD 6.8 billion in 2023 and is set to grow at 7% CAGR between 2024 and 2032, due to the rising technological advancements in tire design and materials.

The solid tires segment is poised to witness over 8% CAGR from 2024 to 2032, attributed to the advantages, such as puncture resistance, longer durability, and lower maintenance costs.

Asia Pacific recorded over 40% of the market share in 2023, owing to the robust industrial growth and increased manufacturing activities in the region.

Some of the leading material handling equipment tire companies include Alliance Tire Group (ATG), Bridgestone Corporation, Camso, Carlstar, Continental AG, and Hankook Tire.