Global Forklift Tires Market to reach USD 2.8 billion by 2027.Global Forklift Tires Market is valued at approximately USD 2 million in 2020 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2021-2027. A forklift is one of the most prevalent material-handling equipment in use across the world, and tires are an important aspect of it. Forklifts employ a variety of tires, including pneumatic tires, solid tires, cushion tires, and polyurethane tires. The forklift tire market is booming because of a slew of new products. Because of their chemical resistance, polyurethane forklift tires are becoming more popular. Forklift tire manufacturers are upgrading their machining capabilities in order to adapt existing machinery to alternative hub designs. In order to accept diverse hub designs in polyurethane forklift tires, Stellana AB, a producer of polyurethane, rubber, and nylon tire solutions, has incorporated flexibility in its manufacturing processes. To reduce flat spotting in polyurethane forklift tires, manufacturers are expanding their efforts to become more nimble in their production procedures. Increased R&D activities are expected to increase the forklift tire market, as new production processes and technologies are in high demand. Manufacturers are experimenting with the creation of solid-pneumatic tires in combination. As a result, manufacturing process flexibility is critical in allowing last-minute design modifications in the forklift tire market. However, profile irregularities caused due to flat spotting incidence may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global Forklift Tires Market is considered for the key regions such as Asia Pacific, Europe, Latin America, North America, and Rest of the World (ROW). Asia Pacific is the leading region across the world in terms of market share due to rapid growth in the automotive industry in South Korea, India, Japan, and China. Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to swift industrialization and popularity of the non-marking solid tires.

Major market player included in this report are:

Camso
Continental AG
Trelleborg AB
Michelin
The Yokohama Rubber Co. Ltd.
Advance Tire Inc.
Hankook
Titan
Aichi
Mitas
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Pneumatic Forklift Tires
Solid Forklift Tires
Polyurethane Forklift Tires
By Sales Channel:
OEM
Aftermarket
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2017, 2018-19
Base year - 2019-2020
Forecast period - 2021 to 2027.

Target Audience of the Global Forklift Tires Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors