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Ground Support Equipment GSE Tires Air Market Segmented By Type: Solid rubber ground support equipment tires, Foam filled ground support equipment tires, Air filled ground support equipment tires; Key Companies: MICHELIN, Continental AG, Sterling Solid Tyres (p) Ltd, MAXAM Tire International Ltd, APEXWAY PRODUCTS CORP and many more
The report covers in-depth information, statistics and data about value (US$ Mn) and volume (Units) projections, market dynamics, competition and recent developments in the global Ground Support Equipment Tires market for the study period 2018 to 2028.
Ground support equipment tires are a type of tire that are used in passenger services, aircraft service equipment and for cargo loading at airports. Shifting preference towards air travel and growing focus on improving the overall experience of customers are two important factors that will drive the growth of the ground support equipment tires market.
The global Ground Support Equipment Tires market is segmented based on equipment type, tire type and sales channel. North America and Europe dominate the Ground Support Equipment Tires market in terms of revenue generated from sales. A major share of the sales is contributed by the aftermarket segment of the Ground Support Equipment Tires market owing to the high replacement rate.
With robust growth being witnessed in end-use industries, the global Ground Support Equipment Tires market is anticipated to expand at a CAGR of 4.8% during the forecast period.
Over the recent past, the global aviation industry has witnessed tremendous growth. This, in turn, has put significant pressure on professionals handling ground operations and has led to growing demand for efficient, safe and comfortable ground support equipment tires. In response to this scenario, market participants are making efforts to design, develop and manufacture innovative ground support equipment tires that offer increased operational comfort, higher speed capability and increased efficiency.
Manufacturers are also focusing on maximizing tire life and minimizing irregular wear. Companies, such as Michelin and Trelleborg A, are designing and developing innovative products to meet the growing demand for highly efficient and low resistant tires to provide better stability, traction and safety.
The Middle East region has become a hotspot for the airline industry. Internationally renowned carriers, such as Saudi Arabian Airlines, Qatar Airways, Emirates and Etihad Airways, are ordering narrow body and large body aircrafts in bulk for the future.
The flag carrier airline of Dubai – Emirates – has ordered 142 Airbus A380 large body aircrafts, of which 81 have already been delivered, while the remaining 61 are anticipated to be delivered in near future. Major OEM equipment manufacturers and aftermarket suppliers have identified Middle East as an opportunistic region for future growth.
Keeping this in mind, Trelleborg AG, in 2014, launched an industrial tire line -- Trelleborg Elite XP and Trelleborg M2 -- for forklift and ground support equipment applications.
Stabilizing economic conditions, growing per capita income and rapid industrialization in developing economies are some of the factors expected to drive growth in sales of Ground Support Equipment Tires in the region.
Supportive FDI policies are expected to attract investments and support the growth of the aviation industry in near future. Growing per capita income and high urbanization will further create robust opportunities for the growth of the Ground Support Equipment Tires market in the region. The MEA region is anticipated to register 1.7X growth in the Ground Support Equipment Tires market during the forecast period.
East Asia is expected to register significant growth in the Ground Support Equipment Tires market during the forecast period owing to growing urbanization and recovering economic conditions in the region. India, China and UAE are projected to emerge as the most attractive markets for Ground Support Equipment Tires over the forecast period.
North America, being a major OEM in Ground Support Equipment Tires as well as OEM ground support equipment markets, is expected to be one of the major consumers of OEM Ground Support Equipment Tires at a global level.
The global Ground Support Equipment Tires market is a highly consolidated market, with the tier 1 players in the market estimated to collectively hold about 70% - 75% market share in the Global Ground Support Equipment Tires market.
Over the past couple of years, the Ground Support Equipment Tires market has observed substantial developments, such as new product developments, capacity expansions and acquisitions.
Some of the key market participants included in this market report on the global Ground Support Equipment Tires market are Continental AG, Sterling Solid Tyres (p) Ltd., MICHELIN, MAXAM Tire International Ltd., APEXWAY PRODUCTS CORP., Super Grip Corporation, EMRALD, Ground Support Products, Royal Tyres Private Limited, Industrial Rubber Company and SUN TYRE & WHEEL SYSTEMS (SUN-TWS).