Construction Machinery Tires Market Size (2024 - 2029)

The construction machinery tires market is anticipated to experience growth driven by the increasing demand for construction machinery, influenced by a focus on infrastructure and automation in construction and manufacturing processes. This demand is particularly notable in developing countries, which is expected to boost the market size for off-the-road tires, especially from the aftermarket segment. Additionally, the rising trend of tire retreads among fleet managers to reduce operating costs is contributing to the market's expansion.

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Market Size of Construction Machinery Tires Industry

Construction Machinery Tires Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.00 %

Major Players

Construction Machinery Tires Market Major Players

*Disclaimer: Major Players sorted in no particular order

Construction Machinery Tires Market Analysis

The construction machinery tires market is expected to register a CAGR of more than 5%, during the forecast period, 2019-2024.

  • Increased focus on infrastructureand automation in the construction and manufacturing processes showed a great impact on the construction machinery demand over the past two years (2017-2018), globally.
  • The improving economy and increasing construction activities across developing countries, like India andSouth Africa, etc., are likely to drive a potential demand for construction machinery, and in turn, anticipateto propel a considerable demand for off-the-road tires, majorly from the aftermarket segment (that includes rental companies and individual machine owners), during the forecast period.
  • The demand for tire retreads has been increasing for these vehicles, as fleet managers/operators continue to leverage retread programs to reduce the operating costs. Retreading saved the heavy commercial vehicle segment to a significant extent, as it is significantly cheaper than a tire replacement. The major players in the market are Michelin, Bridgestone, etc.

Construction Machinery Tires Industry Segmentation

The construction machinery tires market has been segmented by tire type, construction machinery type, sales channel type, and geography.

By Tire Type
Radial Tire
Bias Tire
By Construction Machinery Type
Earth Moving Machinery
Backhoe
Loaders
Excavators
Other Earth Moving Machinery
Material Handling
Cranes
Dump Trucks
By Sales Channel Type
OEMs
Aftermarket
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Other Countries
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Construction Machinery Tires Market Size Summary

The construction machinery tires market is poised for substantial growth, driven by an increased focus on infrastructure and automation within the construction and manufacturing sectors. This trend has significantly boosted the demand for construction machinery globally, particularly in developing regions such as India and South Africa. The rising construction activities in these areas are expected to fuel the demand for off-the-road tires, especially from the aftermarket segment, which includes rental companies and individual machine owners. The market is also witnessing a growing preference for tire retreads, as they offer a cost-effective alternative to new tire replacements, helping fleet managers reduce operating costs. Major industry players like Michelin and Bridgestone are key contributors to this market landscape.

The global construction industry is anticipated to experience robust growth, with significant opportunities in infrastructure, residential, and non-residential sectors. The Asia-Pacific region, particularly India and ASEAN countries, is expected to be a major driver of this growth due to increasing construction activities. In India, the government's substantial investment in infrastructure development is set to enhance the construction sector, thereby boosting the demand for construction machinery tires. Similarly, South Africa is witnessing a rise in demand for compact construction equipment rental, which is expected to drive the aftermarket tire market. Prominent companies such as Bridgestone Corp., Trelleborg AB, Continental Tires, Sumitomo Rubber Industries Ltd, Goodyear Tire & Rubber Company, and Michelin are leading the market, capitalizing on these growth opportunities.

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Construction Machinery Tires Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Tire Type

      1. 2.1.1 Radial Tire

      2. 2.1.2 Bias Tire

    2. 2.2 By Construction Machinery Type

      1. 2.2.1 Earth Moving Machinery

        1. 2.2.1.1 Backhoe

        2. 2.2.1.2 Loaders

        3. 2.2.1.3 Excavators

        4. 2.2.1.4 Other Earth Moving Machinery

      2. 2.2.2 Material Handling

        1. 2.2.2.1 Cranes

        2. 2.2.2.2 Dump Trucks

    3. 2.3 By Sales Channel Type

      1. 2.3.1 OEMs

      2. 2.3.2 Aftermarket

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Rest of Asia-Pacific

      4. 2.4.4 Rest of the World

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 South Africa

        3. 2.4.4.3 Other Countries

Construction Machinery Tires Market Size FAQs

The Construction Machinery Tires Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Bridgestone Corp., Trelleborg AB, Continental Tires and Michelin are the major companies operating in the Construction Machinery Tires Market.

Construction Machinery Tires Report Snapshots

Construction Machinery Tires Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)