Construction Equipment Tire

Global Construction Equipment Tire Market to Reach US$8.5 Billion by 2030

The global market for Construction Equipment Tire estimated at US$6.1 Billion in the year 2024, is expected to reach US$8.5 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2024-2030. Radial Tire, one of the segments analyzed in the report, is expected to record a 6.2% CAGR and reach US$5.0 Billion by the end of the analysis period. Growth in the Bias Tire segment is estimated at 5.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.7 Billion While China is Forecast to Grow at 9.0% CAGR

The Construction Equipment Tire market in the U.S. is estimated at US$1.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2030 trailing a CAGR of 9.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.7% and 5.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Construction Equipment Tire Market – Key Trends & Drivers Summarized

Why Are Tires Crucial for Construction Equipment Performance?

Construction equipment tires play a pivotal role in ensuring safety, stability, and efficiency on job sites. Designed to withstand extreme terrain conditions, these tires must provide superior traction, durability, and load-bearing capacity. As construction projects grow in scale and complexity, demand for high-performance tires tailored to different machine types—such as loaders, dump trucks, and cranes—is rising. The industry is also witnessing a surge in specialty tire innovations to enhance efficiency in various operating environments.

How Are Advancements in Tire Technology Improving Durability?

Recent advancements in tire manufacturing are significantly enhancing durability and longevity. Innovations such as solid rubber tires, airless radial designs, and reinforced sidewalls are reducing the risk of punctures and wear. Self-healing tire technology, which uses sealants to repair minor damages, is also gaining traction. Additionally, smart tire solutions embedded with IoT sensors are enabling real-time pressure and temperature monitoring, preventing unexpected failures and improving overall safety.

What Role Do Sustainability and Retreading Play in the Tire Market?

With growing environmental concerns, sustainable tire solutions are becoming a focal point in the industry. Manufacturers are investing in biodegradable rubber compounds and recycled tire materials to reduce waste. Tire retreading—a cost-effective and eco-friendly alternative to buying new tires—is also gaining momentum, allowing construction firms to extend the lifespan of their existing equipment tires while minimizing environmental impact.

What’s Driving Market Growth?

The growth in the construction equipment tire market is driven by several factors, including increasing infrastructure development, rising demand for high-durability tires, and advancements in smart tire monitoring solutions. The adoption of eco-friendly and retreaded tires is also expanding, as companies seek to reduce costs and meet sustainability goals. Additionally, the development of specialized tires for extreme weather conditions and off-road terrains is driving demand, making tire innovation a key focus in the construction industry.

SCOPE OF STUDY:

The report analyzes the Construction Equipment Tire market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Tire Type (Radial Tire, Bias Tire, Solid Tire, Other Tire Types); Distribution Channel (Aftermarket Distribution Channel, OEM Distribution Channel)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 32 Featured) -

• Alliance Tire Group (ATG)
• Apollo Tyres Ltd
• Balkrishna Industries Limited (BKT)
• Bridgestone Corporation
• Cheng Shin Rubber Ind. Co. Ltd. (Maxxis)
• Continental AG
• Double Coin Holdings Ltd.
• Giti Tire
• Goodyear Tire & Rubber Company
• Hankook Tire & Technology Group
• Linglong Tire
• Michelin
• Nokian Tyres plc
• Pirelli & C. S.p.A.
• Sumitomo Rubber Industries, Ltd.
• Titan International, Inc.
• Trelleborg AB
• Triangle Group
• Yokohama Rubber Company
• Zhongce Rubber Group Co., Ltd. (ZC Rubber)

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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