Canada Solid Tire Market By Type (Curled on Solid Tire and Pressed on Solid Tire), By Demand Category (OEM, Replacement), By Vehicle Type (Forklifts, Lawn Mowers, Golf Carts, Baby Carriages, Wheelbarrows, Others), By Application (Mining Vehicle, Construction Vehicle, Others), By Region, Competition Forecast & Opportunities, 2027
Canada solid tire market is expected to grow at a steady CAGR for the forecast period, 2023-2027. Solid tires or airless tires are considered ideal for challenging applications or for applications with a high risk of impact or damage. They are extremely stable, impervious to punctures, and require little maintenance. Solid tires are affordable and capable of carrying a lot of weight. Platform trucks, heavy-duty transport vehicles, forklift trucks, side-loading forklifts, airport vehicles, and other industrial vehicles all have a significant demand for solid tires. The market is driven by the increased demand from the growing logistics and construction industry and advances in tire technology. Market participants are investing heavily in R&D operations to develop novel solutions and modernize the current production infrastructure in order to produce improved solid tires. They are making efforts to lessen tire vibration and noise in tires. Due to rising costs and fluctuating supplies of natural rubber, industry participants are turning to recyclable plastic to manufacture solid tires, which is predicted to open up the lucrative potential for the expansion of the solid tire market in Canada.
The Canada solid tire market is segmented into type, vehicle type, demand category, application, company, and regional distribution. Based on vehicle type, the market is divided into forklifts, lawn mowers, golf carts, baby carriages, wheelbarrows, and others. Forklifts are expected to capture the highest market share in the forecast period, 2023-2027. The most popular piece of material handling machinery utilized in industries is the forklift. Forklifts employ a variety of tires, including solid tires, pneumatic tires, polyurethane tires, and cushion tires.
The major market players operating in the Canada solid tire market are Goodyear Canada Inc., Michelin North America (Canada) Inc., Bridgestone Canada Inc., Hankook Canada Corp., Continental Tire Canada, Inc, Kumho Tire Canada, Inc, Yokohama Tire (Canada) Inc, Toyo Tire Canada Inc., Pirelli Tire Inc., Hangzhou Zhongce Rubber Co., Ltd (Westlake Tire).
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F–2027F
Objective of the Study:
- To analyze the historical growth in the market size of the Canada solid tire market from 2017 to 2021.
- To estimate and forecast the market size of Canada solid tire market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast the Canada solid tire market based on type, demand category, vehicle type, application, region, and company.
- To identify the dominant region or segment in the Canada solid tire market.
- To identify drivers and challenges for the Canada solid tire market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Canada solid tire market.
- To identify and analyze the profiles of leading players operating in the Canada solid tire market.
- To identify key sustainable strategies adopted by market players in Canada solid tire market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of the Canada solid tire market using a bottom up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Canada solid tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Canada Solid Tire Market, By Type:
- Curled on Solid Tire
- Pressed on Solid Tire
- Canada Solid Tire Market, By Demand Category:
- Canada Solid Tire Market, By Vehicle Type:
- Lawn Mowers
- Golf Carts
- Baby Carriages
- Canada Solid Tire Market, By Application:
- Mining Vehicle
- Construction Vehicle
- Canada Solid Tire Market, By Region:
- The West
- British Columbia
- Atlantic Canada
- The North
Company Profiles: Detailed analysis of the major companies present in Canada solid tire market.
- Detailed analysis and profiling of additional market players (up to five).
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