The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Growing smart city projects around the world are likely to stimulate innovation in construction tyre manufacturing, propelling the market over the forecast period.

The global construction tire market 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 global construction tire market is expected to grow to $1.92 billion in 2027 at a CAGR of 3.8%.

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Global Construction Tire Market Segments Include:

• By Tire Type: Radial, Bias, Solid, Other Tire Type
• By Equipment Type: Excavators, Backhoe, Bulldozers, Graders, Wheel Tractor Scraper, Trenchers, Loaders, Tower Cranes, Compactors, Other Construction Equipment
• By Tire Size: Less than 20”, 21” to 30”, 31” to 40”, 41” to 50”, 51” to 60”, More than 61”
• By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global construction tire market in 2021.

Major Market Players in the construction tire market include Bridgestone Corporation, Apollo Tyres Ltd., China National Tire & Rubber Co. Ltd., CEAT Ltd., Cooper Tire & Rubber Company, Continental AG, Hangzhou Zhongce Rubber Co. Ltd.

Product innovation is a crucial trend that is gaining traction in the construction tyre industry. To maintain their market position, major market players are using innovative solutions. For example, Goodyear Tyre and Rubber firm, a tyre manufacturing firm based in the United States, will offer SightLine, an intelligent tyre solution, in June 2021. With cargo vans utilised in the field service, construction, and last-mile delivery industries, SightLine provides safer and more reliable mobility. For connected and autonomous transportation, the tyres can send feedback on tyre and road conditions.

The Construction Tire Global Market Report 2023  provides a construction tire market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The construction tire market forecast analyzes construction tire market size, construction tire market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A construction tyre is a tyre consisting of rubberized fabric piles coiled around a wire bead that holds the tyre to the wheel rim. These tyres give traction, can self-clean, and reduce slippage, and can also help to keep a machine from becoming stuck and wasting significant time and money.

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