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Material Handling Equipment Tire Market Share

Report ID: GMI7977
Published Date: Jan 2024
Report Format: PDF

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Material Handling Equipment Tire Market Share

Bridgestone Corporation and Michelin hold a significant market share of over 10% in the material handling equipment tire industry. These prominent companies expanded their market foothold by investing in research and development initiatives. By introducing innovative tire technologies tailored to the specific needs of diverse material handling applications, these players positioned themselves as industry innovators. Collaborative partnerships with manufacturers and end-users further amplified their market reach, enabling seamless integration of their tire solutions and solidifying their positions as key contributors to the industry.

Furthermore, these companies emphasized customer-centric strategies for improved market penetration. They provided a diverse array of customizable material handling equipment tires, catering to varying specifications and application needs. With expertise in tire design and manufacturing, coupled with a commitment to durability and performance, these firms heightened customer satisfaction. Their integrated approach to innovative tire solutions and customer-focused strategies significantly expanded their market presence, playing a pivotal role in shaping the market size.

Material Handling Equipment Tire Market Companies

Major companies operating in the material handling equipment tire industry are:

Alliance Tire Group (ATG)
Balkrishna Industries Limited (BKT)
Bridgestone Corporation
Camso
Carlstar
Continental AG
CST (Cheng Shin Tire)
Guizhou Tyre Co., Ltd.
Hankook Tire
JK Tyre & Industries Ltd.
Kenda Rubber Industrial Co., Ltd
Maxam Tire International Ltd.
Michelin Group
Mitas Tires
Nokian Tyres plc
Shandong Linglong Tire Co., Ltd.
Sumitomo Rubber Industries
The Goodyear Tire & Rubber Company
Trelleborg AB
Yokohama Rubber Company

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of material handling equipment tire reached USD 6.8 billion in 2023 and is set to grow at 7% CAGR between 2024 and 2032, due to the rising technological advancements in tire design and materials.

The solid tires segment is poised to witness over 8% CAGR from 2024 to 2032, attributed to the advantages, such as puncture resistance, longer durability, and lower maintenance costs.

Asia Pacific recorded over 40% of the market share in 2023, owing to the robust industrial growth and increased manufacturing activities in the region.

Some of the leading material handling equipment tire companies include Alliance Tire Group (ATG), Bridgestone Corporation, Camso, Carlstar, Continental AG, and Hankook Tire.