The forestry equipment tires market is anticipated to grow at a significant CAGR of 5.5% during the forecast period (2022-2028). The usage of forestry equipment has risen as a result of a shifting trend from manual forestry. The use of mechanical forest harvesting technologies has progressively risen in recent years in order to boost output. Harvesters, for instance, can chop a tree from the ground up, debark it, and cut it into appropriate lengths in a few minutes. Urbanization is accelerating, contributing to the expansion of the construction sector, which will result in the harvesting of additional forests and the clearance of land for building operations. As a result, demand for forestry equipment, such as forestry equipment tires, will increase in the future years.
The global forestry equipment tires market is segmented based on the type, equipment type, and sales channel. Based on the type, the market is sub-segmented into pneumatic tires, solid tires, and polymer-based tires. Based on the equipment type, the market is sub-segmented into forestry tractor tires, forestry harvesters, trailers, forwarders, forestry skidders, and others. Based on the sales channel, the market is sub-segmented into OEM and aftermarket. Among these sales channels, the OEM segment is expected to propel the growth of the market due to the increasing demand and usage of OEM tires in forestry equipment tires globally.
The market players are also contributing significantly to the market’s growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in February 2019, under its Alliance Forestar label, Alliance Tire Group launched two new tires for the booming and demanding CTL market. The Alliance 643 Forestar III LS-2 and Alliance 644 Forestar III LS-2 have a steel-belted structure and a specific chunk-and-chip-resistant composition to tackle the challenges faced by tires on large CTL machines. They are designed to reduce soil compaction and surface disturbance, as well as perform well in the wide range of circumstances that CTL harvesters endure all year.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Equipment Type
- By Sales Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Nokian Tyres PLC, Bridgestone Corp., Titan International Inc., Balkrishna Industries Ltd., The Yokohama Rubber Co. Ltd., Qingdao Qizhou Rubber Co. Ltd., and Maxam Tire International Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Forestry Equipment Tires Market Report by Segment
By Type
- Pneumatic Tires
- Solid Tires
- Polymer-Based Tires
By Equipment Type
- Forestry Tractor Tires
- Forestry Harvesters
- Trailers, Forwarders
- Forestry Skidders
- Others
By Sales Channel
- OEM
- Aftermarket
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