Industrial Tires Market Size, Share, Trends, and Growth Forecast, 2025 - 2032

Industrial Tires Market Size and Trends Analysis

The global Industrial Tires market size is likely to value at US$ 30.14 Bn in 2025 and reach US$ 35.91 Bn by 2032, achieving a CAGR of 2.53% during the forecast period from 2025 to 2032.

The industrial tires industry is experiencing steady growth, driven by the expansion of industrial sectors such as construction, mining, and logistics, coupled with rising demand for durable, high-performance tires. These tires, designed for heavy machinery like earthmovers, loaders, and forklifts, are critical for ensuring operational efficiency in challenging environments.

The increasing focus on sustainability, advancements in tire technology, and the growth of e-commerce and logistics further propel market expansion. Emerging markets, particularly in the Asia Pacific, are witnessing rapid industrialization, boosting demand for specialized tires.

Key Industry Highlights

• Leading Region: Asia Pacific, holding a 43.8% market share in 2025, driven by rapid industrialization, infrastructure development, and a robust manufacturing base in countries like China and India.
• Fastest-Growing Region: Latin America, fueled by increasing infrastructure projects, rising vehicle ownership, and expanding agricultural activities in Brazil and Mexico.
• Investment Plans: In June 2021, Bridgestone announced a US$139 million investment to modernize and expand its Camaçari plant in Brazil, enhancing production capacity for industrial tires.
• Dominant Tire Type: Radial Tires, accounting for nearly 33% of the market share, due to their durability, fuel efficiency, and widespread use in heavy-duty applications.
• Leading Application: Construction, contributing over 35% of market revenue, driven by global infrastructure development and demand for heavy machinery tires.

Key Insights	Details
Industrial Tires Market Size (2025E)	US$30.14 Bn
Market Value Forecast (2032F)	US$35.91 Bn
Projected Growth (CAGR 2025 to 2032)	2.53%
Historical Market Growth (CAGR 2019 to 2024)	2.2%

Market Dynamics

Driver: Rising Demand for Material Handling Equipment Fuels Market Growth

The growing demand for material handling equipment across industries such as construction, manufacturing, and logistics is a primary driver of the global industrial tires market. The growth of e-commerce and global trade has significantly increased the need for efficient warehousing and logistics operations, relying heavily on equipment like forklifts, pallet jacks, and telehandlers. For instance, the U.S. Census Bureau reported an 8.1% increase in e-commerce sales in 2024, boosting the need for material handling equipment in warehouses.

Radial tires, known for their durability and load-bearing capacity, are increasingly preferred for these applications, with companies such as Michelin and Bridgestone offering specialized tires for forklifts and loaders. In emerging markets like India, government initiatives such as the National Infrastructure Pipeline, with investments of US$1.4 trillion by 2025, are fueling construction and logistics activities, further driving tire demand. The focus on automation and advanced manufacturing also necessitates high-performance tires, ensuring sustained market growth through 2032.

Restraint: High Costs and Raw Material Price Volatility Limit Adoption

The high cost of advanced industrial tires and fluctuating raw material prices pose significant challenges to market growth, particularly for small and medium-sized enterprises. Industrial tires, such as radial and solid tires, require premium materials like natural and synthetic rubber, which are subject to price volatility.

For example, the cost of a premium radial tire for an earthmover can range from US$1,000 to US$5,000, deterring adoption in cost-sensitive markets such as Africa and parts of the Asia Pacific. Additionally, stringent regulations on tire disposal and recycling, particularly in Europe, increase operational costs for manufacturers.

The European Union’s Waste Framework Directive mandates eco-friendly disposal, adding compliance burdens. These financial and regulatory constraints, coupled with the high initial investment for advanced tire technologies, limit market penetration in emerging economies, hindering overall growth through 2032.

Opportunity: Advancements in Smart Tire Technologies

The integration of smart tire technologies presents significant growth opportunities for the industrial tires market. Smart tires equipped with sensors for real-time monitoring of pressure, temperature, and wear are gaining traction, enhancing operational efficiency and safety.

For instance, Continental’s ContiConnect 2.0, launched in 2023, provides real-time tire health data, reducing downtime in logistics and mining operations.

In construction and mining, where equipment operates in harsh conditions, smart tires improve performance and longevity, aligning with the industry’s focus on cost efficiency. Government initiatives, such as China’s Made in China 2025 plan, promote automation and IoT integration, encouraging tire manufacturers to innovate. Companies such as Michelin and Trelleborg are investing in R&D to develop eco-friendly and smart tires, catering to the growing demand for sustainable solutions in developed and emerging markets, ensuring robust market expansion through 2032.

Category-wise Insights

By Tire Type

• Radial Tires dominate the market, holding approximately 33% of the revenue share in 2025. Their superior durability, fuel efficiency, and load-bearing capacity make them the preferred choice for heavy-duty applications such as earthmovers and loaders. Companies like Michelin and Bridgestone lead with radial tire innovations, offering enhanced traction and longer lifespan for construction and mining equipment.
• Solid Tires are experiencing rapid growth, driven by their flat-proof design and suitability for material handling equipment like forklifts in warehouses. Their adoption is fueled by the rise of e-commerce and logistics, with brands such as Trelleborg and Continental expanding offerings to meet demand in North America and the Asia Pacific.

By Application

• Construction holds the largest market share, contributing over 35% of revenue in 2025. The global surge in infrastructure projects, such as China’s Belt and Road Initiative and India’s Smart Cities Mission, drives demand for durable tires for earthmovers and loaders. Major players like Goodyear and Yokohama offer specialized tires for construction equipment, ensuring operational efficiency in rugged terrains.
• Material Handling is the fastest-growing segment, propelled by the expansion of e-commerce and logistics industries. The increasing use of forklifts and pallet jacks in warehouses, particularly in the U.S. and China, boosts demand for high-performance tires. Companies like Hankook and Pirelli are innovating to provide tires with enhanced grip and durability for material handling applications.

By Vehicle Type

• Earthmovers dominate, accounting for nearly 40% of market revenue in 2025, driven by their critical role in construction and mining. The demand for heavy-duty tires for excavators and bulldozers is fueled by global infrastructure development, with Michelin and Bridgestone offering specialized radial tires for these applications.
• Forklifts are witnessing rapid growth, driven by the booming logistics and e-commerce sectors. The rise in warehouse automation and last-mile delivery services, particularly in the Asia Pacific and North America, increases demand for durable, flat-proof tires. Trelleborg and Continental are expanding their forklift tire portfolios to meet this growing need.

Regional Insights

Asia Pacific Industrial Tires Market Trends

Asia Pacific dominates the industrial tires market, likely to account for 43.8% share in 2025, driven by rapid industrialization, infrastructure development, and a strong manufacturing base.

China, the largest tire market globally, benefits from government initiatives like the Belt and Road Initiative, which fuels construction and mining activities. India’s infrastructure push, with US$1.4 trillion allocated to the National Infrastructure Pipeline by 2025, drives demand for construction and material handling tires.

The region’s growing agricultural sector, particularly in India and Southeast Asia, boosts demand for tractor tires, with companies like Yokohama and MRF expanding production. Rising disposable incomes and urbanization further increase vehicle ownership, supporting tire demand. Local manufacturers like Linglong and Sailun, alongside global players like Bridgestone and Hankook, capitalize on the region’s growth potential, ensuring dominance through 2032.

Latin America Industrial Tires Market Trends

Latin America is the fastest-growing region in 2025, driven by infrastructure development and rising vehicle ownership. Brazil and Mexico lead, with Brazil’s construction sector boosted by investments such as Bridgestone’s US$139 million plant expansion in 2021.

The region’s agricultural sector, particularly in Brazil, drives demand for tractor and harvester tires, with companies like Pirelli and Trelleborg offering specialized solutions. Increasing automotive sales and e-commerce growth in Mexico fuel demand for material handling tires.

Government initiatives promoting sustainable agriculture and infrastructure, coupled with the rise of online tire retail platforms, enhance market accessibility. The region’s focus on cost-effective and durable tires ensures rapid growth through 2032, supported by both local and global manufacturers.

North America Industrial Tires Market Trends

North America remains the second-largest region in the industrial tires market in 2025. The U.S. drives this dominance, fueled by a robust automotive and industrial sector, high vehicle ownership, and significant infrastructure investments.

According to the U.S. Tire Manufacturers Association, tire shipments in the U.S. are projected to reach 335.7 million units in 2024, with industrial tires contributing significantly due to construction and logistics demand. The growth of e-commerce, with an 8.1% increase in U.S. online sales in 2024, boosts the need for material handling equipment and tires.

Major players like Goodyear and Michelin leverage advanced manufacturing facilities in South Carolina, producing high-performance tires for earthmovers and forklifts. Canada’s mining sector also drives demand for off-the-road (OTR) tires, supported by companies like Bridgestone. The region’s focus on sustainability and smart tire technologies ensures steady growth through 2032.

Competitive Landscape

The global industrial tires market is highly competitive, with key players such as Michelin, Bridgestone, Goodyear, Continental, Pirelli, Sumitomo Rubber Industries, Yokohama Rubber Company, Hankook Tire, and Trelleborg dominating through innovation and extensive distribution networks.

Regional players such as MRF Limited focus on localized offerings in the Asia Pacific. Companies are investing in smart tire technologies, sustainable materials, and strategic partnerships to enhance market share, driven by demand for high-performance and eco-friendly tires.

Key Industry Developments:

• March 2023: Continental launched ContiConnect 2.0, an advanced tire management system with real-time monitoring for industrial applications, improving efficiency in mining and logistics. This upgrade allows fleets to record and monitor additional critical tire parameters, such as tread depth and tire condition, beyond the existing metrics like pressure and temperature?
• February 2023: Michelin partnered with DHL to pilot its UPTIS airless tire technology for material handling equipment in Singapore, targeting sustainability and reduced maintenance costs. Nearly 50 DHL delivery vans were fitted with UPTIS tires by the end of 2023, marking the first real-world application of this technology.

Companies Covered in Industrial Tires Market

• Michelin
• Bridgestone
• Goodyear
• Continental
• Pirelli
• Sumitomo Rubber Industries
• Yokohama Rubber Company
• Hankook Tire
• Trelleborg
• MRF Limited
• Others