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Global Forestry Tire Market Size, Share, Trends, Forecast: By Type: Pneumatic Tires, Solid Tires, Polymer-based Tires; By Application: Tractors, Trailers, Forwarders, Others; By Sales Channel: Original Equipment Manufacturers, Aftermarket; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Forestry Tire Market Outlook
The global forestry tire market size reached approximately USD 424.56 million in 2023. The market is further projected to grow at a CAGR of 4.8% between 2024 and 2032, reaching a value of USD 638.14 million by 2032.
Key Trends in the Market
Forestry tires refer to tires mounted on forwarders, tractors, and trailers, that are used in forestry applications and feature specially constructed treads for reducing the risks of tearing, chunking, and penetration, among others. These tires are designed to function under extreme conditions, withstand hazards, and carry heavy loads.
- Increasing residential and commercial construction activities are boosting the forestry tire market growth. The increasing migration of rural youth to urban cities for better professional opportunities is propelling the housing requirements and conversion of forest lands into residential units.
- Rising investments by various agriculturists and farmers towards advanced equipment in order to enhance the efficiency of their farms and agricultural lands is providing lucrative growth opportunities to the market. Forestry tires allow tractors and forwarders to carry heavy loads without tearing.
- The growing requirement for wood-based products including furniture and doors, among others due to increasing population, rising urbanisation, and growing industrialisation in various regions across the globe is supporting the market expansion.
Global Forestry Tire Market Analysis
On the basis of type, the market is divided into pneumatic tires, solid tires, and polymer-based tires. Based on application, the market is classified into tractors, trailers, and forwarders, among others. On the basis of sales channel, the market is bifurcated into original equipment manufacturers and aftermarket. Based on region, the forestry tire market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Continental AG
- Bridgestone Corporation
- Nortec Company
- Michelin Retread Technologies, Inc.
- Apollo Tyres Ltd.
- Yokohama TWS Holding AB
- Guizhou Tyre Co., Ltd. (GTC Group)
- Interco Tire Corporation
- JK Tyre & Industries Ltd.
- Titan International, Inc.
- Others
Market Share by Application
Tractors are expected to account for a significant forestry tire market share in the coming years owing to the wide range of applications of tractors in forestry applications. Different tractors fulfil different functions, implement carrier tractors are used for mounting and carrying different types of implements including sprayers, seed drills, and rotary sweepers, among others. Whereas garden tractors aid in formation of flower and seed beds. Due to the constant utilisation of tractors in muddy and rocky areas, they require durable forestry tires in order to efficiently complete their applications.
Market Share by Region
The Asia Pacific is anticipated to witness significant growth in the coming years. This growth can be attributed to the prominent presence of various key market players in the region and rising investments in manufacturing units due to availability of cheap labour. The expansion of the agricultural sector in the Asia Pacific due to increasing population is further boosting the forestry tire market demand as forestry equipment is essential for land clearing and logging.
Competitive Landscape
Continental AG, headquartered in Hanover, Germany, is one of the leading automotive components manufacturing company. The company is involved in the production of forestry tires, vehicle electronics, and brake systems, among others. The company was founded in 1871.
Bridgestone Corporation, headquartered in Tokyo, Japan, is one of the leading tire manufacturing companies. The product portfolio of the company includes mobility solutions, original and replacement tires, and tire-centric solutions, among others.
Apollo Tyres Ltd. is involved in the manufacture and sale of different types of tires including forestry tires. The company offers a comprehensive product portfolio for light trucks, passenger cars, and two-wheelers, among others. Apollo was founded in 1972 and is headquartered in Gurugram, India.
Other forestry tire market key players include Nortec Company, Michelin Retread Technologies, Inc., Yokohama TWS Holding AB, Guizhou Tyre Co., Ltd. (GTC Group), Interco Tire Corporation, JK Tyre & Industries Ltd., and Titan International, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Sales Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Forestry Tire Market Analysis
8.1 Key Industry Highlights
8.2 Global Forestry Tire Historical Market (2018-2023)
8.3 Global Forestry Tire Market Forecast (2024-2032)
8.4 Global Forestry Tire Market by Type
8.4.1 Pneumatic Tires
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Solid Tires
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Polymer-based Tires
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Forestry Tire Market by Application
8.5.1 Tractors
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Trailers
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Forwarders
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Forestry Tire Market by Sales Channel
8.6.1 Original Equipment Manufacturers
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Aftermarket
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Forestry Tire Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Forestry Tire Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Forestry Tire Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Forestry Tire Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Forestry Tire Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Forestry Tire Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Continental AG
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Bridgestone Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Nortec Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Michelin Retread Technologies, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Apollo Tyres Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Yokohama TWS Holding AB
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Guizhou Tyre Co., Ltd. (GTC Group)
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Interco Tire Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 JK Tyre & Industries Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Titan International, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Forestry Tire Market: Key Industry Highlights, 2018 and 2032
2. Global Forestry Tire Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Forestry Tire Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Forestry Tire Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Forestry Tire Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Forestry Tire Historical Market: Breakup by Sales Channel (USD Million), 2018-2023
7. Global Forestry Tire Market Forecast: Breakup by Sales Channel (USD Million), 2024-2032
8. Global Forestry Tire Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Forestry Tire Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Forestry Tire Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Forestry Tire Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Forestry Tire Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Forestry Tire Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Forestry Tire Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Forestry Tire Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Forestry Tire Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Forestry Tire Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Forestry Tire Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Forestry Tire Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Forestry Tire Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 424.56 million in 2023.
The market is projected to grow at a CAGR of 4.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 638.14 million by 2032.
The major market drivers include rising urbanisation and increasing investments by the key market players towards product enhancement.
The key trends fuelling the growth of the market include growing requirement for wood-based products and rising investments by farmers towards advanced agricultural equipment.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The applications of forestry tires include tractors, trailers, and forwarders, among others.
The key players in the market are Continental AG, Bridgestone Corporation, Nortec Company, Michelin Retread Technologies, Inc., Apollo Tyres Ltd., Yokohama TWS Holding AB, Guizhou Tyre Co., Ltd. (GTC Group), Interco Tire Corporation, JK Tyre & Industries Ltd., and Titan International, Inc., among others.
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