Global Solid Tire Market Size To Worth USD 886.80 Million By 2033 | CAGR of 8.20%
Category: Automotive & TransportationGlobal Solid Tire Market Size To Worth USD 886.80 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Solid Tire Market Size is Expected to Grow from USD 403.20 Million in 2023 to USD 886.80 Million by 2033, Growing at a CAGR of 8.20% during the forecast period 2023-2033.
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Browse key industry insights spread across 260 pages with 120 Market data tables and figures & charts from the report on the "Global Solid Tire Market Size, Share, and COVID-19 Impact Analysis, By Product (Curled-on Solid Tire, Pressed-on Solid Tire), By Application (Engineered Vehicle, Construction Machinery, Military Vehicle, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/solid-tire-market
A solid tire is a tire that is made from layers of rubber and is not filled with air. These tires typically consist of durable materials like rubber, polyurethane, or other compounds, and they are designed to give support and traction without the need for inflation. Several factors contribute to the solid tire market's growth, including improved durability, lower maintenance costs, and a longer lifespan when compared to pneumatic tires. These tires are suited for heavy-duty applications in industries such as construction, shipping, and manufacturing where dependability and performance are critical. However, the expansion of the solid tire market is hampered by factors such as higher beginning prices, restricted comfort and shock absorption, and performance restrictions in specific applications.
The curled-on solid tire segment is predicted to hold the largest market share through the forecast period.
Based on the product, the solid tire market is classified into curled-on solid tire and pressed-on solid tire. Among these, the curled-on solid tire segment is predicted to hold the largest market share through the forecast period. The segment's supremacy is attributable to its higher durability, longer lifespan, and improved performance in tough industrial conditions, which lower maintenance costs and promote total cost-efficiency.
The construction machinery segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the solid tire market is divided into engineered vehicle, construction machinery, military vehicle, and others. Among these, the construction machinery segment is anticipated to hold the highest market share during the projected timeframe. The segment's growth can be attributable to the growing need for long-lasting, low-maintenance tires in heavy-duty construction equipment such as bulldozers, excavators, and loaders.
North America is estimated to hold the largest share of the solid tire market over the forecast period.
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North America is estimated to hold the largest share of the solid tire market over the forecast period. The region's increasing demand for heavy-duty equipment, including forklifts, bulldozers, and material handling vehicles, which rely on durable and low-maintenance solid tires, helps to grow.
Asia Pacific is predicted to have the highest CAGR growth in the solid tire market over the forecast period. The region's growth is attributable to fast industrialization, a spike in infrastructure and construction projects, and the expansion of the e-commerce and logistics industries, all of which raise demand for heavy machinery and material handling equipment that require durable solid tires.
Major key players in the solid tire market include CAMSO, Continental AG, Global Rubber Industries, Initial Appearance LLC, Nexen Tire, Setco Solid Tire & Rim Assembly, Superior Tire & Rubber Corp., TY Cushion Tire, Trelleborg, Michelin, and Others.
Recent Developments
- In July 2024, Magna Tyres expanded its product line with five new models. First, the company is increasing the MB800 series with a larger size, 355/65-15.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the solid tire market based on the below-mentioned segments:
Global Solid Tire Market, By Product
- Curled-on Solid Tire
- Pressed-on Solid Tire
Global Solid Tire Market, By Application
- Engineered Vehicle
- Construction Machinery
- Military Vehicle
- Others
Global Solid Tire Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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