Special Trailer Tire Market

Special Trailer Tire Market

Growth Factors of Special Trailer Tire Market

The special trailer tire market size was valued at USD 9.42 billion in 2023, and the market is now projected to grow from USD 9.70 billion in 2024 to USD 13.09 billion by 2032, exhibiting a CAGR of 3.8% during the forecast period of 2024-2032.

The COVID-19 pandemic triggered stakeholders within the special trailer tire enterprise to establish hazard-mitigation strategies and seize new opportunities. The solutions covered improving delivery chain resilience, broadening product services, making a funding in digitization and e-trade, and building collaborations at some degree within the value chain. The pandemic has expedited long-time period trends within the transportation and logistics commercial enterprise, which encompass digitization, automation, and sustainable practices. These traits brought approximately expanded demand for trailer tires that prioritize fuels overall performance, durability, and environmental sustainability.

E-trade and the need for efficient transport and logistics have caused improved demand for trailers. Special trailer tires make sure powerful delivery of products across substantial distances. Heavy equipment and materials have to be transported at some stage in infrastructure development projects, consisting of road, constructing, and electricity creation. These obligations require specialized vehicles with sturdy tires.

The worldwide marketplace is seeing growth in demand for tires with ultra-modern technology and features that enhance normal performance, sturdiness, and safety. Manufacturers reason to offer tires with progressed tread designs, traction, load-bearing capability, and decreased rolling resistance. These advances enhance fuel performance, lessen put on and tear, and provide consistent performance in various driving situations.

Comprehensive Analysis of Special Trailer Tire Market

The market for trailers in 2023 is segmented into lowboy, flatbed, dry van, refrigerated, and tanker. The dry van phase is anticipated to grow the most due to excessive demand for dry shipment and goods transportation. Flatbed trailers are expected to develop at the highest CAGR due to production and industrial sectors' focus on enlargement. The radial tire kind phase is expected to dominate, with radial tires imparting smoother rides, higher traction control, and longer tire tread life. The tire size segment is divided into 17.6 - 22.5 inches, 17.6 - 22.5 inches, and greater than 22.5 inches. The rubber compound phase is expected to develop the most because of better desire for rubber compound tires and better durability. The reinforcing material phase is expected to grow at the quickest CAGR due to excessive investments in R&D.

The Asia Pacific region lead the special trailer tire market share by benefitting a market size of USD 6.29 billion in 2023 due to rising freight and cargo transportation activity. Increased development and infrastructure initiatives in developing Asian countries are likely to fuel special trailer tire market growth. Asia Pacific is undergoing tremendous economic expansion, with increased industrialization, infrastructural development, and commercial activity. As transportation and logistics networks expand, there is an increase in demand for specialized trailers and tires.

Key players within the tire enterprise have adopted techniques which includes product differentiation, capability growth, and sales and distribution network diversification to gain a competitive advantage. Bridgestone Corporation, a Japanese multinational agency, is a prime tire producer, producing tires for motors, buses, vans, motorcycles, all-season tires, off-road tires, and snow tires. Sumitomo Rubber Industries Ltd., an international tire manufacturer, operates through Dunlop and Falken brands and presents tires for diverse motors. Other key gamers consist of Ihe Goodyear Tire and Rubber Company, Pirelli, Continental AG, Sumitomo Rubber Industries Ltd., e-Apollo Tyres, Yokohama, Titan International, Inc., Michelin, Maxam Tire, Nokia Tires, and Kumho Tires.

In January 2024, Continental delivered an access-stage digital tire management system to equip fleets faster and effortlessly. This revolutionary sensor gives a time-saving, trustworthy, and producer-impartial way to accumulate tire condition statistics.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 3.8% from 2024-2032

Unit Value (USD Billion)

Segmentation By Trailer Type

- Low Boy

- Flatbed

- Dry Van

- Refrigerated

- Tanker

By Tire Type

- Radial

- Bias

By Tire Size

- Upto 17.5 inches

- 17.6 – 22.5 inches

- More than 22.5 inches

By Material

- Rubber Compound

- Reinforcing Material

- Others

By Region

- North America (By Trailer Type, Tire Type, Tire Size, and Material)

• U.S. (By Trailer Type)
• Canada (By Trailer Type)
• Mexico (By Trailer Type)

- Europe (By Trailer Type, Tire Type, Tire Size, and Material)

• U.K. (By Trailer Type)
• Germany (By Trailer Type)
• France (By Trailer Type)
• Rest of Europe (By Trailer Type)

- Asia Pacific (By Trailer Type, Tire Type, Tire Size, and Material)

• China (By Trailer Type)
• Japan (By Trailer Type)
• India (By Trailer Type)
• Rest of Asia Pacific (By Trailer Type)

- Rest of the World (By Trailer Type, Tire Type, Tire Size, and Material)


Please Note: It will take 5-6 business days to complete the report upon order confirmation.