Global forklift tires market is valued approximately at USD 2.1 billion in 2020 and is anticipated to grow with a healthy growth rate of about 5.3% over the forecast period 2021-2027. The forklift tire is the most important aspect in determining what surface a forklift is meant to work on (smooth, flat factory floor, rough outdoor yard, etc.) Each tire has a unique tread, compound, and ply rating, which helps to ensure that the tire chosen is appropriate for the application. Maintaining proper forklift tire condition reduces stress and wear on the gearbox as well as the forklift driver. Increasing number of warehouses and rising investment in retail and e commerce industries are some of the factors that are expected to significantly contribute towards the growth of global forklift tires market during the forecast period. As internet access and adoption grow at a rapid pace around the world, the number of digital buyers grows year after year. Over two billion individuals purchased goods or services online in 2020, up from 1.5 billion global digital buyers in 2016. while global e-commerce sales topped 4.2 trillion US dollars in the same year (2020), as per Statista. The growing need for online shopping has resulted in the development of warehouses where material equipment handling is a vital activity handled by forklifts, and thus the forklift tires market is expected to increase massively throughout the projected period. In addition, increasing sales of light-commercial electric vehicles and growth of logistics industry provide lucrative growth opportunities to the market. However, rise in forklift related injuries expected to hamper the growth of global forklift tires market during the forecast years.
The regional analysis of the global forklift tires market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounts for the largest share in terms of market revenue in the global forklift tires market over the forecast period 2021-2027. Also, it is expected to emerge as the fastest growing region in the forecast period. Factors such as tremendous growth of the automobile industry in India, South Korea, Japan, and China, industrialization and fast urbanization, etc. contribute towards the largest market share as well as fastest growth rate of the region in the forecast years.
Major market player included in this report are:
Camso
Continental AG
BKT Tires
Trelleborg
AB Michelin
Hankook
The Yokohama Rubber Co. Ltd.
Advance Tire Inc.
Titan
Bridgestone Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Solid tire
Pneumatic tire
Polyurethane tire
By Sales Channel:
OEM
Aftermarket
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Forklift tires Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Forklift Tires Market, by Region, 2019-2027 (USD Billion)
1.2.2. Forklift Tires Market, by Type, 2019-2027 (USD Billion)
1.2.3. Forklift Tires Market, by Sales Channel, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Forklift Tires Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Forklift Tires Market Dynamics
3.1. Forklift Tires Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing number of warehouses
3.1.1.2. Rising investment and sales in retail and e-commerce industries
3.1.2. Market Restraint
3.1.2.1. Rise in forklift related injuries
3.1.3. Market Opportunities
3.1.3.1. Increasing sales of light-commercial electric vehicles
3.1.3.2. Growth of logistics industry
Chapter 4. Global Forklift Tires Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Top Investment Opportunities
4.5. Top Winning Strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk assessment: COVID -19 Impact
5.1. Assessment of the Overall Impact of COVID-19 on the industry
5.2. Pre COVID-19 and Post COVID-19 Market Scenario
Chapter 6. Global Forklift Tires Market, by Type
6.1. Market Snapshot
6.2. Global Forklift Tires Market by Type, Performance – Potential Analysis
6.3. Global Forklift Tires Market Estimates & Forecasts by Type 2018-2027 (USD Billion)
6.4. Forklift Tires Market, Sub Segment Analysis
6.4.1. Solid Tire
6.4.2. Pneumatic Tire
6.4.3. Polyurethane Tire
Chapter 7. Global Forklift Tires Market, by Sales Channel
7.1. Market Snapshot
7.2. Global Forklift Tires Market by Sales Channel, Performance – Potential Analysis
7.3. Global Forklift Tires Market Estimates & Forecasts by Sales Channel 2018-2027 (USD Billion)
7.4. Forklift Tires Market, Sub Segment Analysis
7.4.1. OEM
7.4.2. Aftermarket
Chapter 8. Global Forklift Tires Market, Regional Analysis
8.1. Forklift Tires Market, Regional Market Snapshot
8.2. North America Forklift Tires Market
8.2.1. U.S. Forklift Tires Market
8.2.1.1. Type breakdown estimates & forecasts, 2018-2027
8.2.1.2. Sales Channel breakdown estimates & forecasts, 2018-2027
8.2.2. Canada Forklift Tires Market
8.3. Europe Forklift Tires Market Snapshot
8.3.1. U.K. Forklift Tires Market
8.3.2. Germany Forklift Tires Market
8.3.3. France Forklift Tires Market
8.3.4. Spain Forklift Tires Market
8.3.5. Italy Forklift Tires Market
8.3.6. Rest of Europe Forklift Tires Market
8.4. Asia-Pacific Forklift Tires Market Snapshot
8.4.1. China Forklift Tires Market
8.4.2. India Forklift Tires Market
8.4.3. Japan Forklift Tires Market
8.4.4. Australia Forklift Tires Market
8.4.5. South Korea Forklift Tires Market
8.4.6. Rest of Asia Pacific Forklift Tires Market
8.5. Latin America Forklift Tires Market Snapshot
8.5.1. Brazil Forklift Tires Market
8.5.2. Mexico Forklift Tires Market
8.6. Rest of The World Forklift Tires Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Camso, Continental AG
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. BKT Tires
9.2.3. Trelleborg
9.2.4. AB Michelin
9.2.5. Hankook
9.2.6. The Yokohama Rubber Co. Ltd.
9.2.7. Advance Tire Inc.
9.2.8. Titan
9.2.9. Bridgestone Corporation
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.
Primary Research Sources:
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