Material Handling Equipment Tire Market Size - By Tire (Pneumatic, Solid), Equipment (Forklift, Conveyor, Industrial Cart), Sales Channel (Aftermarket, OEM), End-User (Warehousing, Construction, Manufacturing, Retail & E-commerce) & Forecast, 2024 - 2032

Material Handling Equipment Tire Market Size - By Tire (Pneumatic, Solid), Equipment (Forklift, Conveyor, Industrial Cart), Sales Channel (Aftermarket, OEM), End-User (Warehousing, Construction, Manufacturing, Retail & E-commerce) & Forecast, 2024 - 2032

The global material handling equipment tire industry is anticipated to witness a CAGR of 7% during 2024-2032, driven by the expansion of e-commerce and retail sectors globally. According to Hostinger, by 2027, e-commerce sales are expected to constitute 23% of total retail, with approximately 2.77 billion online shoppers projected by 2025.

Additionally, the automation of warehouses and manufacturing facilities is boosting the adoption of material handling equipment, driving the need for durable and high-performance tires. The stringent safety regulations and emphasis on workplace ergonomics are encouraging companies to invest in advanced material handling equipment, contributing to market growth.

The global material handling equipment tire industry is classified based on tire, equipment, sales-channel, end-user, and region.

The pneumatic tires segment is expected to gain prominence by 2032, as they offer superior shock absorption, traction, and load-bearing capabilities, making them suitable for a wide range of applications, including forklifts, pallet jacks, and other industrial vehicles. Moreover, their ability to operate smoothly on uneven surfaces, enhancing efficiency and productivity in material handling operations is further inducing segment growth.

The conveyor segment is set to grow substantially till 2032, owing to efficient manufacturing and distribution processes across industries. By seamlessly transporting materials along assembly lines or within warehouses, conveyor systems optimize workflow and minimize manual labor, consequently necessitating robust tires capable of withstanding the rigorous demands of continuous operation. The reliability and performance of tires are thus crucial in ensuring the smooth functioning of conveyor equipment, contributing to enhanced productivity, reduced downtime, and ultimately, cost savings for businesses reliant on streamlined material handling operation.

Europe material handling equipment tire market is poised to expand at a decent pace through 2032, driven by factors such as technological advancements, stringent safety standards, and the presence of established manufacturing and logistics industries. Countries like Germany, the UK, France, and Italy are at the forefront of adopting advanced material handling equipment to optimize operational efficiency and meet evolving consumer demands, inducing industry expansion.