Global Solid Tire Market Size is projected to be valued $XX Billion by 2024; with a CAGR of XX% from 2017 to 2025. Solid Tires are extremely stable, non-pneumatic, puncture resistant and maintenance-free which are primarily used for industrial or light commercial applications. These are capable of high loading and are extremely economical with long service life. Solid tires are ideally suitable for forklift trucks, heavy-duty transport vehicles, airport vehicles, side-loading forklifts, platform trucks and other industrial vehicles.
Some of the factors driving the growth of the global solid tire market include rise in growth of the mining vehicles and construction machinery with demanding requirement of solid tire, and rising urbanization and industrialization which have surged the demand for forklifts, port machinery, and other industrial vehicles. However, concern of superior materials with enhanced properties with respect to solid tire may hamper the market growth. Moreover, rising demand of solid tire in military vehicles, ports, and airports is likely to generate profitable growth opportunities for the market in the coming future.
Type, application, and geography are the major segments considered in the global solid tire market. On the basis of type segment, the bifurcation is given as cured on solid tire, and pressed on solid tire. Segmentation by application includes engineering vehicles, construction machinery, military vehicles, and other applications.
Based on geography, the global solid tire market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Germany, France, Russia, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Major companies operating in the global Solid Tiremarket are TY Cushion Tire, Setco Solid Tire & Rim Assembly, Continental AG, MICHELIN, Trelleborg AB, NEXEN TIRE AMERICA INC., Tube & Solid Tire Limited, Superior Tire & Rubber Corp, Global Rubber industries (GRI), and CAMSO among others.
The key takeaways from the report
Scope of the Global Solid Tire Market