Port and Industrial Tire Market Set to Reach USD 13.8 Billion by 2031, Propelled by Infrastructure Boom and Next-Gen Tire Innovations | Latest Report by Transparency Market Research

Wilmington, Delaware, United States, Transparency Market Research Inc. , Feb. 13, 2025 (GLOBE NEWSWIRE) — The global port and industrial tire market (항구 및 산업용 타이어 시장), valued at US$ 8.6 billion in 2022, is projected to grow to US$ 13.8 billion by 2031, reflecting a compound annual growth rate CAGR of 5.3%. This growth is fueled by the expansion of port infrastructure, increased automation in material handling, and a rising demand for durable, high-performance tires. Key industry players are focusing on technological innovations and strategic acquisitions to strengthen their market positions.

The port and industrial tire industry is integral to global trade and logistics, providing essential components for equipment such as forklifts, reach stackers, and container handlers. The industry’s growth is closely tied to global trade dynamics, technological advancements in tire design, and the increasing adoption of automation and robotics in material handling.

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Key Players:

• Bridgestone Corporation
• Continental AG
• MICHELIN
• Nokian Tyres Plc.
• The Goodyear Tire & Rubber Company
• CEAT Ltd.
• Yokohama Tire Corporation
• Rovince Tire
• Xuzhou Armour Rubber Company Ltd.
• Cheng Shin Rubber Industry Co. Ltd.
• Cooper Tire & Rubber Company
• Camso
• GRL Tire
• Maxxis
• Sumitomo Rubber Industries, Ltd.

Competitive Landscape & Innovations

• Michelin & Bridgestone – Leading in intelligent tire systems with integrated sensors.
• Trelleborg & Camso – Specializing in solid and resilient tire technology for extreme conditions.
• Goodyear & Continental – Developing low rolling resistance tires for energy efficiency.

Future Opportunities

• Expansion in Smart Tire Technologies – Real-time tire pressure and temperature monitoring for improved efficiency.
• Growth in Electric & Autonomous Port Equipment – Increased demand for low-noise, high-traction tires.
• Sustainable & Recyclable Tire Solutions – Bio-based rubber and circular economy initiatives.
• R&D in Advanced Tread Patterns & Materials – Enhancing grip, stability, and wear resistance.

Market Growth and Scope

The market’s growth is further propelled by the increasing adoption of automation and advanced material-handling technologies in ports and industrial facilities. Automated guided vehicles (AGVs), autonomous forklifts, and robotic material handlers are being deployed to improve operational efficiency and reduce labor costs.

These automated systems require tires that offer precise handling, low rolling resistance, and extended service life to operate effectively. The integration of smart tire technologies, such as sensors and predictive maintenance tools, is also supporting the growth of the port and industrial tires market.

Forklift Market Report Scope:

Report Coverage	Details
Forecast Period	2023-2031
Base Year	2022
Size in 2022	US$ 8.6 Bn
Forecast (Value) in 2031	US$ 13.8 Bn
Growth Rate (CAGR)	5.3%
No. of Pages	195
Segments covered	Tire Type, Tire Size, Application, Vehicle Type, Sales Channel

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Top Market Trends

Several notable trends are shaping the port and industrial tire market:

• Technological Advancements: Manufacturers are developing tires with enhanced load-carrying capacities, greater resistance to punctures and wear, and improved traction on various surfaces to meet the demands of modern port and industrial operations.
• Sustainability Focus: There is a growing emphasis on sustainable practices, with companies exploring the use of recycled materials and developing eco-friendly tire options to reduce environmental impact.
• Smart Tire Integration: The adoption of smart tire technologies, including real-time monitoring and predictive maintenance, is enhancing operational efficiency and reducing downtime in industrial applications.

Future Outlook and Opportunities

• Expansion of automated warehouses and smart ports – Increasing demand for high-performance industrial tires.
• Advancements in non-pneumatic and airless tire technology – Reducing downtime and increasing reliability.
• Integration of AI-based predictive maintenance – Enhancing fleet management and cost efficiency.
• Growing adoption of retreading and sustainable tire solutions – Eco-friendly alternatives to reduce waste.
• Emerging markets in Asia-Pacific and Latin America – Increased infrastructure projects and port expansions.

Challenges

• High Initial Cost of Advanced Tires – Potential barrier for cost-sensitive industrial sectors.
• Fluctuations in Raw Material Prices – Impacting overall profitability and pricing strategies.
• Stringent Regulations on Emissions & Waste Management – Compliance with environmental laws affecting manufacturing processes.

Industry Segmentation and Regional Insights

The port and industrial tire market is segmented based on tire type, vehicle type, sales channel, and application:

• Tire Type
  • Solid Tires
  • Pneumatic Tires
    • Radial
    • Bias
  • PU Tires
  • Cushion Tires
• Tire Size
  • Less than 4”
  • 5” to 7”
  • 8” to 10”
  • 11” to 15”
  • More than 15”
• Application
  • Forklift
    • Class 1: Electric Motor Rider Trucks
    • Class 2: Electric Motor Narrow Aisle Trucks
    • Class 3: Electric Motor Hand Trucks or Hand/Rider Trucks
    • Class 4: IC Engine Trucks (Solid/Cushion Tires)
    • Class 5: IC Engine Trucks (Pneumatic Tires)
  • Large Industrial Trucks
  • Hand Trucks
  • Pallet Trucks
  • Dump Trucks
  • Mining Applications
  • Construction Applications
  • Manufacturing Applications
• Vehicle Type
  • Stacker
  • Lift Truck
  • Terminal Tractor
  • Electric Forklift
  • IC Engine Forklift
  • IC Engine Industrial Trucks
• Sales Channel
  • OEM
  • Aftermarket

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Geographically, Asia-Pacific holds the largest market share, driven by rapid industrialization and significant investments in port infrastructure. North America and Europe also represent substantial markets, with ongoing advancements in automation and material handling technologies contributing to demand.

The port and industrial tire market is on a robust growth trajectory, supported by infrastructure expansion, technological innovations, and a focus on sustainability. As global trade and industrial activities continue to evolve, the demand for high-performance, durable tires is expected to rise, presenting significant opportunities for industry stakeholders.

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Why Decision-Makers Should Focus on the Port and Industrial Tire Market

1. Strong Market Growth – A projected CAGR of 5.3% highlights increasing demand for durable, high-performance tires.
2. Rising E-Commerce and Logistics Expansion – Increased warehouse operations drive higher tire consumption.
3. Technological Advancements in Tire Design – Smart tires, RFID tracking, and low rolling resistance innovations.
4. Sustainability and Retreading Trends – Growing demand for cost-effective and environmentally friendly solutions.

Key Takeaways for Investors and Industry Leaders

• Tire manufacturers should invest in durable, fuel-efficient, and smart tire solutions.
• Logistics and fleet managers should adopt IoT-enabled tires for predictive maintenance and cost savings.
• Port operators and warehouse owners should focus on heavy-duty, puncture-resistant tire options.

With rising industrial automation, port expansions, and increasing trade volumes, the Port and Industrial Tire Market presents significant business growth opportunities for tire manufacturers, logistics operators, and infrastructure investors.

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