Report Ocean introduces a fresh report examining the Solid Tire Market, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Obtain a comprehensive report on the Solid Tire Market, which includes a full table of contents, over 200 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
Global Solid Tire Market is valued at approximately USD $$ billion in 2022 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2032. A solid tire is a type of tire that does not contain any air-filled cavities or tubes such as a traditional pneumatic tire. Instead, it is made entirely of solid rubber or other elastomer materials. The Solid Tire market is expanding because of factors such as growing construction activities and increasing usage of commercial vehicles within the market.
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Solid tires offer several advantages over traditional pneumatic tires. For one, they are virtually immune to flats, which can be a significant time and money saver for operators of heavy machinery or industrial equipment. Its prevalence has progressively increased during the last few decades. According to Statista, the revenue of the global construction industry is expected to grow steadily over the next years. The size of the construction market amounted to USD 6.4 trillion in 2020 and is expected to reach USD 14.4 trillion by 2030. Furthermore, the value of overall construction output in the United States grew by over USD 166 billion in 2022. Another important component of driving space increase in the usage of commercial vehicles.
According to Statista, in 2021 Light commercial vehicles accounted for around 80% of global commercial vehicle production. In addition around 26.3 million vehicles were sold globally during the same year and increase of around 5% compared to 2020 sales. Furthermore, the United States registered largest market for commercial vehicles around 12 million commercial vehicles were sold. Also, the rising adoption of solid tires due to high durability and rising technological advancement in the transportation industry would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Solid Tires stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Solid Tire Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players, along with growing vehicle production & sales, within the region. According to Statista, in 2022, total shipments of U.S. tires reached around 335 million units. The majority of tire units shipped were categorized as replacement passenger tires with some 222 million units. Furthermore, Europe is expected to grow with the highest CAGR during the forecast period, owing to the rapidly growing demand for industrial vehicles across Germany and France and Growing industrialization & urbanization within the market space.
Major market players included in this report are:
Continental AG
MICHELIN
Global Rubber industries
Nexen Tire Corporation
Initial Appearance LLC
Setco Solid Tire & Rim Assembly,
Trelleborg AB
Tube & Solid Tire Ltd
TY Cushion Tire LLC Co., Ltd.
Superior Tire & Rubber Corp.
Recent Developments in the Market:
In March 2023, MICHELIN launched SprayBib CFO, a new dimension has now been added to the range of the MICHELIN SprayBib CFO VF 710/60 R46. It is the first very-low-pressure flotation tyre in the MICHELIN SprayBib CFO line, created for self-propelled sprayers. These 2.05-meter-diameter tyres are highly productive in soil preservation, and provide stability for sprayers with large-capacity tanks.
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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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 Product
Curled
Pressed
By Application
Engineered Vehicle
Construction Machinery
Military Vehicle
Others
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
RoLA
Rest of the World
Reasons to Consider Purchasing the Solid Tire Market Report:
Comprehensive Market Insights: Delve into the depths of the Solid Tire Market Report to gain an all-encompassing and meticulous analysis of the market landscape. Uncover details such as market size, share, trends, and growth catalysts, which provide invaluable perspectives on both the present market scenario and its promising future prospects.
Reliable Projections: Rely on the report’s dependable forecasts and projections, which are underpinned by rigorous research methodologies, insights into industry expenditures, and assessments of market expansion rates. These foresights empower businesses to make well-informed decisions and chart out effective strategies for the times ahead.
In-depth Competition Analysis: Equip yourself with an extensive evaluation of key market players, their array of products, and the strategies they employ. This comprehensive understanding arms businesses with the knowledge needed to not only comprehend their rivals but also to craft strategies that position them ahead in the dynamic market arena.
Clear Market Scope and Segmentation: Gain clarity on the broad expanse of the market through the report’s clear delineation of market scope. With detailed insights into diverse market segments and their growth potential, businesses can discern and capitalize on opportunities that align with their objectives.
Insightful Regional Examination: Assess the market’s performance across different regions, enabling enterprises to pinpoint lucrative markets and tailor their approaches accordingly. With region-specific insights, businesses can adapt strategies that resonate with the unique dynamics of each area.
Evaluation of Industry Technology: Grasp the pulse of technological progress within the Solid Tire market. The report dissects cutting-edge advancements and trends, providing businesses with a window into emerging technologies that have the potential to reshape the industry.
Dynamics of Supply and Demand: Acquire a profound comprehension of supply-demand dynamics. This understanding empowers businesses to optimize production, distribution, and inventory management processes, resulting in enhanced operational efficiency.
Informed Investment Decision Making: Leverage the report’s critical information and data-driven insights to facilitate informed investment choices within the Solid Tire market. Equipped with this knowledge, businesses can confidently allocate resources to avenues with the greatest potential for returns.
Unveiling Long-Term Growth Avenues: Through the scrutiny of trends and growth stimulants, the report illuminates the enduring opportunities the Solid Tire market holds. By identifying these sustainable growth prospects, businesses are poised to set a course for lasting success.
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