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Forestry Equipment Tires Market

Global Market Study on Forestry Equipment Tire: Strong Competition Facing Pneumatic Tires, with Solid Tires & Polymer-based Tires Gaining Ground

Forestry Equipment Tire Market Segmentation by Type ( Pneumatic Tires, Solid Tires, Polymer Based Tires).

Global Forestry Equipment Tire Market Snapshot

According to the latest market study published by Persistence Market Research, demand for Forestry Equipment Tires is estimated to grow with a rapid growth rate of 5.7% during 2023 to 2033 period.

Forestry Equipment Tire sales (2022A)

US$ 1391.7 Million

Forestry Equipment Tire Demand (2023E)

US$ 1471 Million

Forestry Equipment Tire Market Projections (2033F)

US$ 2560.7 Million

Value CAGR (2023-2033)

5.7%

Collective Value Share: Top 3 Countries (2023E)

30-35%

With the development of automation, forestry equipment has become increasingly popular as an alternative to labor-intensive manual logging. The global market for forestry equipment tyres may be broken down into submarkets by distribution channel, product type, and application. Rapid urbanisation in emerging markets like China, India, Argentina, and Brazil is a key factor driving the expansion of the construction sector, which in turn necessitates the chopping of even more trees and the clearing of land for building projects. This, in turn, will increase demand in the next years for forestry equipment, such as tyres for forestry machinery. Financially, Europe and North America are the world's two biggest markets for forestry equipment tyres.

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Historical (2017 to 2022) v/s Forecast (2023 to 2033) Market Outlook for Forestry Equipment Tire Market

After experiencing a steep drop in the demand and logistic supply sections, the market is now emerging into new inventions, and both Japan and China are advancing towards it with new patents for design improvements in the tyre industry.

Companies in the global forestry tyre market, such as NORTEC, Yokohama Rubber Co. Ltd., Deere & Company, Nokian Tires Plc, Balkrishna Industries Ltd., Maxxis International, and Trelleborg AB, are working to improve the quality of their products by incorporating new technologies and materials. As a result, the market is expected to expand at a respectable clip throughout the predicted time frame. Tires made specifically for forestry trucks are built to increase stability and performance in adverse environments. To further improve safety and reduce the risk of failure or accidents, manufacturers are devoting an enhanced focus on the development of forestry tyres that perform well throughout a wide range of terrain and weather conditions. The rising need for more agricultural land, which may be met by clearing forests to make space for agriculture, is a major driver supporting market growth.

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Market Dynamics

Rapid industrial growth drives demand for forestry trucks. The forestry industry is ideal for advanced machinery because the task is repetitive, accurate, and time-sensitive. Manufacturers are working on developing autonomous forestry equipment that may seek for direction and transmit its condition via wireless communication by interfering with the radio signals of other machines. As a result, productivity is improved, unforeseen repairs are drastically cut on, and security is enhanced.

There has been a rise in the need for more effective forestry vehicles, and this has prompted an increase in the usage of forestry material handling equipment and other forestry vehicles, both of that reduce the cost of the operation in general through reducing the number of mistakes made by human workers. Manufacturers of forestry equipment are driving innovation in the tyre industry by demanding features like radialization, tyre pressure monitoring systems, cut and chip resistance, etc.

New forestry tyres are designed to last longer while using less fuel and energy. Increasing load capacities, increasing speeds, and decreasing rolling resistance are expected to be the main priorities of future innovations in forestry tyres. Bias tyres are often used on forestry trucks. Bias tyres are highly recommended because of the superior stability they provide during any activity, instead of if it is being carried out on an open field or a dense forest. Despite working on the rough terrain, their precision tread design and characteristics guarantee maximum adhesion at all times. This guarantees the best resistance to incidental damages like cuts and ruptures, and makes loading and moving activities efficient and smooth.

Market Research Methodology

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Region-wise Insights

What is the market scenario for Forestry Equipment Tires in the Europe region countries market?

Due to increased investment in infrastructure projects like Brexit and higher awareness of environmental concerns among businesses, Europe is expected to develop at the sharpest rate over the next decade. As a result of rising investments in factories in the Asia Pacific, this area will also become an important focal point for manufacturers. Due to the limited penetration of these machines across different applications, the Middle East and Africa are likely to experience moderate growth over the next decade.

Disputes between Russia and Ukraine have slowed the development and projection of Europe's manufacturing sector, which has delayed the region's early growth.

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Country-wise Insights

What is the demand outlook for Forestry Equipment Tire in China?

The global market study shows that Asia Pacific is the most important geographical area for the tire industry, with the presence of the two most populous nations, China and India, which also happen to be the world's second- and fifth-largest economies. When it comes to the production of forestry tyres, China is among the region's leaders. By the end of the projection period, this region is predicted to account for a sizable chunk of the worldwide demand for forest tyres, followed by North America and Europe.

What is the demand outlook for Forestry Equipment Tires in the U.S.?

The shift from bias to radial tyres is expected to be a major market trend throughout the projected period. Expect a quick shift away from radial tyres as the usual style in North America. Bias tyres are still widely used, though, in regions like South America and Asia-Pacific. There is a Huge Market for 21"-30" Forestry Tires In 2022, the demand for tyres with a diameter between 21 inches and 30 inches dominated the global market. During the projected time period, the sector is expected to retain its strong position. This is because several countries have forest-related vehicles of medium to large size. Tractors, trailers, and forwarders, among other types of machinery, are utilized in the forestry industry to ensure the smooth movement of materials. As of now, the shift is being felt in the United States.

The North American market for forestry tyres was significant in 2021 as well. The forestry products business in North America has taken a major impact in recent years due to the collapse of the U.S. construction market. Exports of wood from the region have been hit by the worldwide economic crisis.

Competitive Landscape

Titan International Inc. and Kubota Tractor Corporation (KTC) signed a contract in February 2022 to distribute Titan's new Trac Loader Il tyres for use on Kubota utility and small tractor models in light construction, forestry, commercial, and residential applications. e As part of Nokian Heavy Tires' expansion plan, the company purchased Levypyora oy in August 2019. Levypyora serves original equipment manufacturers and aftermarket clients in the forestry, agriculture, and earthmoving industries through its two primary product lines: wheels production and steel structures. Financial overview, company strategies, business sectors, product portfolio, and recent developments are all evaluated for the key players in the market research study.

For Instance:

Tractable carrying device for forestry skidding

The utility model pertains to machinery, and more specifically to a mobile transport system for forest aggregates that includes a bearing plate, bearing frame, telescopic plate, tyres, a hydraulic cylinder, and a traction frame. These are the innovation-added patents that will transform the market.

Scope of Report

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

  • USD Million for Value
  • Tons for Volume

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Gulf Co Gulf Cooperation Council Countries
  • Türkiye
  • Northern Africa
  • South Africa

Key Segments Covered

  • Type
  • Equipment Type
  • Sales Channel
  • Region

Key Companies Profiled

  • MICHELIN
  • Nokian Tyres plc
  • Bridgestone Corporation
  • Titan International, Inc.
  • Balkrishna Industries Limited
  • The Yokohama Rubber Co. Ltd.
  • Qingdao Qizhou Rubber Co. Ltd.
  • MAXAM TIRE INTERNATIONAL LTD
  • Tianjin United Tire & Rubber International Company Ltd

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available Upon Request

Forestry Equipment Tire Market Segmentation

By Type:

  • Pneumatic Tires
  • Solid Tires
  • Polymer Based Tires

By Equipment Type:

  • Forestry Tractor Tires
  • Forestry Harvesters
  • Trailers
  • Forwarders
  • Forestry Skidders
  • Others

By Sales Channel:

  • Original Equipment Manufacturers (OEM)
  • Aftermarket Others

By Region:

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

- Companies Covered in This Report -

  • MICHELIN
  • Nokian Tyres plc
  • Bridgestone Corporation
  • Titan International, Inc.
  • Balkrishna Industries Limited
  • The Yokohama Rubber Co. Ltd.
  • Qingdao Qizhou Rubber Co. Ltd.
  • MAXAM TIRE INTERNATIONAL LTD
  • Tianjin United Tire & Rubber International Company

- Frequently Asked Questions -

The global market of Forestry Equipment Tire is reported to reach a valuation of US$ 1391.7 Million in 2022.

The global market of Forestry Equipment Tire is estimated to reach a valuation of US$ 1471 Million in 2023.

The global market of Forestry Equipment Tire is expected to reach a valuation of US$ 2560.7 Million in 2023.

The Forestry Equipment Tire demand is anticipated to witness a growth rate of 5.7% over the forecast period of 2023 and 2033 in terms of value.

According to PMR analysis, MICHELIN, Nokian Tyres plc, Bridgestone Corporation, Titan International, Inc., Balkrishna Industries Limited, The Yokohama Rubber Co. Ltd., Qingdao Qizhou Rubber Co. Ltd., MAXAM TIRE INTERNATIONAL LTD, Tianjin United Tire & Rubber International Company Ltdj and others are identified as the key manufacturers in the Forestry Equipment Tire Market.

Key players in the global Forestry Equipment Tire Market are expected to account for about 70-75% of the overall market share.

The top demand driving the global Forestry Equipment Tire is in the U.S. and European Countries.

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