The global indoor forklift tire market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The growth in the warehousing sector is one of the major factors driving the global indoor forklift tire market. According to the data published by India Brand Equity Foundation (IBEF) in 2020, the warehousing sector had witnessed massive participation from institutional investors amid rising demand across the sector such as commerce, retail, FMCG, 3PL, cold storage, pharma, and manufacturing. According to the study by global property consultant Savills, the warehousing space absorption across eight cities such as Mumbai, Pune, Bengaluru, Ahmedabad, Hyderabad, Delhi, and Kolkata is expected to increase to 35 million sq.ft.in 2020. Also, the warehousing sector is projected to add approximately 40 million sq. ft of space across the top eight cities, as the sector is becoming an important part of the integrated logistics network on the back of technological advancements. Mumbai and Delhi are expected to witness a major addition of approximately 8 million sq. ft in 2020 followed by Bengaluru and Kolkata. Further, in 2019, Mumbai added 5.7 million Sq.ft while Delhi witnessed an addition of 8.1 million sq. ft. Thus, such developments in the warehousing sector are anticipated to fuel the demand for the global indoor forklift tire market.
Looking toward the demand for the indoor forklift tire, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in November 2019, Camso launched PON 555 and PON 550 NM, two non-marking forklift tires. These non-marking press-on tires were developed to deliver increased energy efficiency and thermal performance. Both the tires are designed to meet the rising needs for indoor applications with operations of medium intensity usage with industry-leading life. PON 555 and PON 550 NM are available in standard black, non-marking, and Cosmo’s patented non-marking anti-static technology. Further, in April 2021, Trelleborg launched the XP800 range for medium-intensity material handling applications. According to the company, XP800 possesses decent stability in indoor applications while its deep tread increases tire longevity for maximum service life. Thus, such launches are anticipated to drive the growth of the global indoor forklift tire market.
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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 Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Continental Tire the Americas, LLC., Trelleborg AB, and Hankook Tire & Technology Co., Ltd., among others
A full report Indoor Forklift Tire Market of is available at: https://orionmarketreports.com/indoor-forklift-tire-market/106470/
Global Indoor Forklift Tire Market Report by Segment
By Type
- Pneumatic Forklift Tires
- Solid Forklift Tires
- Polyurethane Forklift Tires
By Application
- OEM
- Aftermarket
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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