Research Reports
Smart Tires and Sustainable Innovations Propel Global Forestry Equipment Tire Market to US$2.5 Billion by 2034
Published by Jessica Weisman-Pitts
Posted on February 27, 2025
Global Banking and Finance Review
Company
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Jessica Weisman-Pitts
Posted on February 27, 2025
Increased Demand for Automation and Sustainable Practices Drives Growth in the Global Forestry Equipment Tire Market Amid Technological Advancements, says Fact.MR in its latest market report.
ROCKVILLE, Md., A recently released research report by Fact.MR, a market research and competitive intelligence provider, states that the global forestry equipment tire market is expected to expand from US$1,471.4 million in 2024 to US$2,546 million in 2034. Significant technological improvements are being made in the business, such as the creation of smart tires with monitoring capabilities. These developments increase efficiency, productivity, and sustainability while decreasing downtime and complementing the growing use of digital and automated solutions in forestry.
The increasing focus on sustainability is a major market trend that is pushing producers to create environmentally suitable forestry tires. In response to the growing global demand for ethical forestry practices, businesses are implementing sustainable materials and production techniques. These developments preserve tire performance and durability while also reducing their negative effects on the environment.
The need for sophisticated, intelligent, and environmentally friendly forestry equipment tires is anticipated to increase as the forestry sector places a higher priority on efficiency and environmental responsibility. This will facilitate the industry's transition to sustainable and technologically advanced solutions.
For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=9485
Key Takeaway from Market Study:
“Market players should invest in the development of smart tire technologies and eco-friendly materials to enhance durability, sustainability, and performance. Adapting to automation trends and regulatory changes will be key to maintaining market competitiveness,” says a Fact.MR analyst.
Tractor Segment Leads the Forestry Equipment Tire Market, While Pneumatic Tires Gain Traction:
The tractor sector is anticipated to have a 64.4% share in 2024 and increase at a compound annual growth rate (CAGR) of 5.6%, dominating the global forestry equipment tire market. For site preparation, transportation, and wood harvesting, tractors are essential to forestry operations and need sturdy tires. With a 3.6% compound annual growth rate, pneumatic tires will overtake other tire types and take 56.3% of the market in 2024. They are highly preferred because of their traction, shock absorption, and capacity to adapt to tough terrain, which ensures equipment longevity and efficiency in forestry operations.
Key Market Players:
Competitive Landscape:
Companies in the forestry equipment tire market are focusing on strategic advancements to develop durable and high-performance tire solutions suited for rugged forestry environments. R&D investments aim to enhance sustainability, longevity, and performance, while collaborations with equipment manufacturers ensure a competitive edge.
To meet rising demand, manufacturers are optimizing production processes and prioritizing product reliability. Key developments include:
Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=S&rep_id=9485
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the forestry equipment tire market, presenting historical demand data and forecast statistics for the period (2024 to 2034).
The global forestry equipment tire market is segmented based on tire type, application, and region. By tire type, the market includes pneumatic tires, solid tires, and polymer-based tires. In terms of application, key segments are tractors, trailers, forwarders, and other forestry equipment. Geographically, the market spans North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa. These segments define market trends, influencing demand for durable and high-performance tires across diverse forestry operations and regions.
Check out More Related Studies Published by Fact.MR Research:
Europe tire recycling machine market is anticipated to project a valuation of US$ 870.9 million in 2023 and further expand at a CAGR of 3.3% to reach US$ 1,200.0 million by the end of 2033.
Europe tire shredder market size is set to reach US$ 454.9 million in 2023 and is projected to grow at a CAGR of 4.1% to reach US$ 680.9 million by the end of 2033.
Wheel and tire service equipment market is estimated to reach valuation of US$ 4,046.6 Million in 2023 and will top US$ 5,893.9 Million by 2033, growing with a CAGR of around 3.8% from 2023-2033.
Farm tires market is valued at US$ 8.2 billion in 2023 and is forecasted to reach US$ 14 billion by 2033-end. Worldwide sales of farm tires are predicted to increase at a CAGR of 5.5% from 2023 to 2033.
Airless tires market is anticipated to progress at a CAGR of 5.4% and hit a valuation of US$ 85 million by 2033, up from US$ 50 million in 2023.
Automotive tubeless tires market is expected to reach US$ 819.45 Billion by 2032. Radial tires segment is predicted to grow at a CAGR of 7.3%.
Automotive tire molds market is valued at US$ 1.56 billion in 2023 and is forecasted to reach a market size of US$ 2.39 billion by 2033, expanding at a steady CAGR of 4.4% from 2023 to 2033 (forecast period).