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    Construction Machinery Tires Market Analysis | 2022-2027

    Construction Machinery Tires Market Analysis | 2022-2027
    Report code - SR2003 Published On : Jun,2022 No. of Pages: 130
    Construction Machinery Tires Market Size, Share, Trend, Forecast, Competitive Analysis, an See more...

    Market Highlights

    The Construction Machinery Tires Market is likely to grow at a promising CAGR of 3.2%, in the long run, to reach US$ 5.9 Billion in 2027.

    The market for construction machinery tires is expected to rise as governments in developed and developing nations increase their spending on infrastructural development. Furthermore, there is an increased demand for private residential and commercial buildings due to the increasing global population. All these factors are expected to stimulate the demand for construction equipment, which will pave the way to enhance the demand for construction equipment tires as well. Construction equipment such as dozers, loaders, excavators, logistics vehicles, and cranes are likely to be in high demand all over the world.

    Developing transportation networks through significant investments in highways, bridges, and tunnels to make commuting easier, as well as many other infrastructures for public welfare, are examples of public infrastructure. With rising labor costs, there is a greater need for improved productivity and resource utilization, which can be accomplished with the assistance of various advanced construction equipmentIn 2020, the construction machinery tires market witnessed a minor decline of -5.3% amid the pandemic. The fall in demand was the result of the lockdowns and various restrictions imposed by several countries, which posed significant challenges for the market stakeholders.

    However, rising government efforts to construct highways, dams, railways, and roads as part of the development of smart cities and projects in the areas of energy, mobility, and residence are expected to boost the demand for construction equipment, ultimately boosting the construction machinery tires market significantly.  

    Segments Analysis


    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Application-Type Analysis

    Excavators, Dozers/Loaders, Cranes, Construction Logistics Vehicle, and Others

    Construction logistics vehicle is expected to be the fastest-growing application type in the market.

    Tire-Type Analysis

    Radial Tires and Bias Tires

    Radial tires are expected to be the fastest-growing tire type in the market during the forecast period.

    End-User-Type Analysis

    OE and Aftermarket

    Aftermarket is expected to be the dominant end-user type in the market during the forecast period.

    Regional Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

    Asia-Pacific is expected to remain the largest as well as the fastest-growing market for construction machinery tires during the forecast period.


    By Application Type

    The construction machinery tires market is segmented into excavators, dozers/loaders, cranes, construction logistics vehicles, and others. Construction logistics vehicle is expected to be the fastest-growing application type in the market, generating demand for construction machinery tires, during the forecast period. Construction logistics vehicles are used to transport supplies from and to remote locations, resulting in increased tire wear and tear. With the growing infrastructure development, almost every construction project necessitates the use of a logistics vehicle, which drives the growth of the construction machinery tires market.

    By Tire Type

    The market is segmented into radial tires and bias tires. Radial tires are expected to be the fastest-growing tire type in the market during the forecast period. The segment's rapid growth is due to features such as increased durability, lower fuel consumption, reduced vibration, and stable contact with the ground surface. The booming construction industry is expected to increase the demand for these tires even more in the coming years.

    By End-User Type

    The market is segmented as OE and aftermarket. Aftermarket is expected to be the dominant end-user type in the market during the forecast period. The growth of vehicle fleets for construction operations is expected to have a beneficial impact on the growth of the segment, resulting in increased demand for the replacement of tires. Furthermore, growing government investments in infrastructure and a continuously growing number of housing projects are expected to give an impetus to the global construction industry, which will drive the demand for aftermarket construction machinery tires.

    Regional Analysis

    In terms of regions, Asia-Pacific is expected to remain the largest as well as the fastest-growing market for construction machinery tires during the forecast period. The demand for both public and private infrastructure has increased due to the region's growing population and rising middle-class spending power, and the region has emerged as a hotspot for construction and infrastructure development. As the region has the world's largest construction machinery fleet, most construction machinery tire manufacturers have a presence in Asia-Pacific to meet the emerging needs of construction machinery OEMs and aftermarket customers. Bridgestone, Yokohama, Goodyear, and Michelin are the major players having both sales and manufacturing capabilities in this region.

    Key Players

    The market has a simple and well-established supply chain with raw material suppliers at the first node, tire manufacturers at the second node, and end-users at the third node of the market, as well as the presence of distributors between all three nodes, to ease the supply of goods. The following are the key players in the construction machinery tires market:

    • Balkrishna Industries Limited (BKT)
    • Bridgestone Corporation
    • Compagnie Generale Des Etablissements Michelin S.C.A.
    • Continental AG
    • Goodyear Tire and Rubber Company
    • JK Tyre & Industries
    • MRF Tyres
    • Titan International
    • Trelleborg AB
    • Yokohama Rubber Co. Ltd.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s construction machinery tires market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Construction Machinery Tires Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The construction machinery tires market is expected to grow at a CAGR of 3.2% during 2022-2027.

    The construction machinery tires market is likely to reach US$ 5.9 Billion in 2027.

    Continuous demand for tires in construction machinery for a wide range of construction activities to provide mobility, residence, and other solutions to the world's growing population is one of the major factors driving the market growth.

    Asia-Pacific is estimated to grow at the fastest rate in the coming five years, owing to the presence of a huge fleet of construction machinery and continuous infrastructure development in the region.

    Asia-Pacific is estimated to remain dominant in the construction machinery tires market in the foreseen future, due to the presence of various developing countries engaged in numerous construction activities such as the construction of bridges, roads, dams, and numerous residential projects.

    Dozers/Loaders are likely to maintain their dominance in the market in the next five years. Their widespread use and larger fleet size in comparison to other construction machinery contribute to the segment's dominance.

    Balkrishna Industries Limited (BKT), Bridgestone Corporation, Compagnie Generale Des Etablissements Michelin S.C.A., Continental AG, Goodyear Tire and Rubber Company, JK Tyre & Industries, MRF Tyres, Titan International, Trelleborg AB, and Yokohama Rubber Co. Ltd. are the leading players in the construction machinery tires market. All these companies have huge product manufacturing capacities and have having presence in all the regions, making them superior to other players in the market.