Home / Automotive & Transportation / Solid Tires Market by Type (Cured-on Solid Tire, Pressed-on Solid Tire) by Application (Forklift, Tele Handler, Backhoe, Excavators): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

Solid Tires Market by Type (Cured-on Solid Tire, Pressed-on Solid Tire) by Application (Forklift, Tele Handler, Backhoe, Excavators): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

Published: Jun 2021 | Report Code: 60394-06-21

The global solid tires market is projected to attain market value of USD 7,924 million in 2027 from USD 5,995 million in 2020. The market is estimated to grow at a CAGR of over 4.3% during the forecast period.

 Solid tires or airless tires are manufactured using layers of rubber constructed around metal frame of the tire. Different types of rubber compound and process are used to manufacture slid tires. During the process thin layers of rubber rolled and mount onto a metal frame which then pressed over a hydraulic pressure system. This process roughens the structure holds rubber layers. The thickness of the rubber layers changes depending on the application of the tire for several end uses. With the excellent load barring capacity, puncture resistance, and minimum maintenance solid tires are proven to be excellent choice for heavy-duty transport vehicles, forklift trucks, and airport vehicles.

Key Market Drivers and Restraints

The crucial factors that can highly impact the growth of the solid tires market will be included in this section. In addition to this, market challenges and opportunities to pinpoint the revenue generation are also been covered.

Disadvantages of slow movement of vehicles with solid tires may hamper the growth of the market

When an air-filled tire rolls, carcass and tread deforms. This deformation generates slip, slip is important to generate adequate tractive force. Solid tires cannot create adequate slip to make sufficient longitudinal force as it deforms less and this is why vehicle fixed with solid tires cannot ride at a fast speed. Moreover, solid tire deforms in lesser amount, this deformation is also important for a vehicle to take a turn at high speed, so a vehicle fitted with solid tire cannot take turn with high speed. These factors may restrict their use and affected overall market growth.

Asia Pacific to dominate the global market

Regionally, the global solid tires market consists of six regions which also include all key features related to it. Credence Research is offering detailed understanding of the prominent regions of global market. The global market is dominated by Asia Pacific with over 35% share in 2020.

Global Market is led by the curled on solid tires

Curled on solid tires offers better handling, extra grip, and stability these factors make them more useful at industrials applications. With the growing industrialization demand for forklifts are continuously increasing high which in turn supporting the need for curled solid tires. Similarly, at construction sites many heavy load carrying trucks and machineries that required high load barring capacity tires with optimum grip also are augmenting the demand of curled solid tires.

Forklift continue to dominate the global market in terms of Application

Forklifts are the major user of solid tires, different types of solid tires are used in forklifts depending on their functions. There is increasing use of forklifts in dockyards, recycling facilities, construction sites, and warehouses. Increasing use of forklifts in several applications directly augmenting the demand for solid tires, also the demand for solid tires for forklifts is expected to remain high during the forecast period.

Frequently asked questions about global industry

Cured-on Solid Tire and Pressed-on Solid Tire are the different types available in the market

Continental AG, CAMSO, Global Rubber industries, NEXEN TIRE, Initial Appearance LLC, Setco Solid Tire & Rim Assembly, Trelleborg, Tube & Solid Tire, TY Cushion Tire, and Superior Tire & Rubber Corp are the key players operating in this market

Backhoe Application offers tremendous opportunities to players

Asia Pacific has the largest share owing to large demand of solid tires in several industries.

The market is anticipated to grow at a CAGR of 4.3% throughout the forecast period.

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