The Construction Tire Global Market Report 2023, provides comprehensive information on the construction tire market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/construction-tire-global-market-report
As per The Business Research Company’s Construction Tire Global Market Report 2023, the global construction tire market size is expected to grow from $1.58 billion in 2022 to $1.65 billion in 2023 at a compound annual growth rate (CAGR) of 4.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global construction tire market is expected to grow to $1.92 billion in 2027 at a CAGR of 3.8%.
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Product innovations are a key trend gaining popularity in the construction tire market. Major companies operating in the market are introducing innovative solutions to sustain their position in the market. For instance, in June 2021, Goodyear Tire and Rubber Company, a US-based tire manufacturing company, launched SightLine, an intelligent tire solution. SightLine enables safer and more reliable mobility with cargo vans used for field service, construction, and last-mile delivery industries. This enables the tires to provide feedback on the tire and road conditions for connected and autonomous mobility.
The construction tire market is segmented:
1) By Tire Type: Radial, Bias, Solid, Other Tire Type
2) By Equipment Type: Excavators, Backhoe, Bulldozers, Graders, Wheel Tractor Scraper, Trenchers, Loaders, Tower Cranes, Compactors, Other Construction Equipment
3) By Tire Size: Less than 20”, 21” to 30”, 31” to 40”, 41” to 50”, 51” to 60”, More than 61”
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Asia-Pacific was the largest region in the construction tire market in 2022.
The table of contents in TBRC’s construction tire market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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