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Study Period | 2020 - 2030 |
Market Size (2025) | USD 2.42 Billion |
Market Size (2030) | USD 2.95 Billion |
CAGR (2025 - 2030) | 3.99 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | Asia-Pacific |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Forklift Tires Market Analysis
The Forklift Tires Market size is estimated at USD 2.42 billion in 2025, and is expected to reach USD 2.95 billion by 2030, at a CAGR of greater than 3.99% during the forecast period (2025-2030).
Forklift tires, a pivotal component of the material handling equipment sector, are essential for the smooth operation of forklifts in industries ranging from manufacturing and logistics to construction and retail. Engineered to endure heavy loads, these specialized tires ensure stability and seamless performance across varied work environments.
Fueled by the e-commerce boom, heightened warehouse automation, and robust growth in logistics and manufacturing, the forklift tires market has witnessed consistent expansion. As industries ramp up their material handling activities, the demand for forklift tires has surged. Furthermore, a heightened emphasis on operational efficiency and minimizing downtime has spurred a preference for premium, durable tires adept at handling rigorous work conditions.
In a move underscoring the logistics sector's growth, Welspun One announced in September 2023 its intent to invest a substantial INR 600 crore (USD 72.36 million) in expanding its warehouse infrastructure in Thane, India. This strategic investment is poised to enhance the company's logistics capabilities, catering to the region's surging demand for warehousing solutions.
Technological innovations are reshaping the landscape of the forklift tires market. Tire manufacturers are channeling investments into R&D, focusing on enhancing wear resistance, load-bearing capacity, and energy efficiency. In sectors prioritizing cleanliness, non-marking tires, which avert floor discoloration, are gaining prominence. Additionally, the rise of 'smart tires' equipped with sensors to monitor pressure, temperature, and wear is gaining momentum, resonating with the overarching Industry 4.0 trend.
Bridgestone Corporation, Michelin Group, Trelleborg AB, Continental AG, The Yokohama Rubber Company, Ltd., Sumitomo Rubber Industries, Ltd., Aichi Steel Corporation, Mitas Tires, Carlisle Companies, Inc., and Camso International Inc. stand as the titans of the forklift tires market. These industry leaders are heavily investing in R&D, striving to craft innovative forklift tires that promise enhanced performance and longevity.
Forklift Tires Market Trends
Solid Tires Are Leading the Market Share
In recent years, cushion tires have taken the lead in the forklift tire market, driven by their alignment with the evolving demands of material handling across diverse industries.
Solid cushion tires dominate the market primarily due to their unmatched durability and longevity. Unlike their pneumatic counterparts, solid tires resist punctures and flats, leading to reduced downtime and lower maintenance costs. This resilience proves invaluable in industries like construction, manufacturing, and warehousing, where sharp debris poses a constant threat. Moreover, the extended lifespan of solid cushion tires means businesses face less frequent replacements, enhancing their cost-effectiveness.
Furthermore, the adaptability of solid cushion tires has cemented their market leadership. With a range of compounds and tread patterns, these tires can be customized for specific applications. Whether navigating smooth indoor warehouse floors or rugged outdoor construction terrains, solid cushion tires can be fine-tuned for optimal performance. This versatility has broadened their adoption across numerous industries, reinforcing their dominant market stance.
As the forklift tire market trends increasingly favor solid tires, ongoing technological innovations promise to further boost their performance and adaptability in the years ahead.
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Asia-Pacific is the Fastest Growing Market
Several factors position Asia-Pacific as the frontrunner in the forklift tires market during the forecast period. The region's industrial and logistics sectors are undergoing significant growth and transformation, drawing attention from the forklift tire industry.
Asia-Pacific's industrial landscape, propelled by manufacturing and export-oriented industries, is expanding rapidly. Countries such as China, India, Japan, and South Korea are at the forefront of this industrial boom. Forklifts, essential for material handling in these industries, are driving a robust demand for forklift tires.
Moreover, the e-commerce boom and the pressing need for efficient supply chain management have led to an unprecedented demand for warehouses and distribution centers in the region. Forklifts are pivotal in these operations, intensifying the demand for durable tires suited for high-throughput logistics hubs.
Many Asia-Pacific nations are heavily investing in infrastructure projects, from new ports and airports to industrial parks. Forklifts are vital for construction and cargo handling at these sites, heightening the demand for performance-oriented tires. For example,
- In July 2023, India inaugurated a new airport in Navi Mumbai, spanning 1,160 acres with an estimated cost of INR 16,700 crore (USD 2 billion). The airport features two runways, strategically positioned 1.55 km apart.
Furthermore, as industries grapple with environmental concerns and prioritize energy efficiency, there's a noticeable shift towards electric forklifts in Asia-Pacific. These advanced forklifts often necessitate specialized tires, presenting fresh opportunities for tire manufacturers.
With ongoing industrialization, urbanization, and infrastructure development, Asia-Pacific is poised to dominate the demand for premium forklift tires, making it a prime target for tire manufacturers and suppliers eyeing the region's burgeoning market.
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Forklift Tires Industry Overview
Numerous major and local players contribute to a moderately consolidated forklift tires market. Key players include Camso, Continental AG, Trelleborg AB, The Yokohama Rubber Co. Ltd, and Hankook, among others. These companies frequently engage in acquisitions and collaborations, partnering with diverse material handling and supply chain management firms, all with an eye on product expansion and innovation. For instance,
- In March 2023, Michelin and Hiab USA introduced TMF Tweels, an innovative airless tire tailored for rough-terrain applications. These tires are now the original equipment for Moffett M8 NX and Princeton PB 55+ Series forklifts. Capable of bearing loads up to 5,310 lbs, the reversible design allows usage in any of the three wheel positions. Additionally, the all-terrain tread pattern ensures exceptional traction across various surfaces.
Forklift Tires Market Leaders
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Camso
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Continental AG
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Trelleborg AB
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The Yokohama Rubber Co. Ltd.
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Hankook
- *Disclaimer: Major Players sorted in no particular order
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Forklift Tires Market News
- February 2024: Mitas Tires, a prominent player in the forklift tire manufacturing arena, has unveiled its latest offering: the FL-03 Forklift Tire, engineered for heavy-duty applications. Tailored for 8-inch forklifts, the FL-03 boasts a continuous rib tread pattern, ensuring enhanced vehicle stability and superior skid resistance.
- September 2023: Toyota Material Handling (TMH) unveiled a new series of electric pneumatic forklifts, introducing both 48V and 80V models. Designed for durability, these forklifts can navigate outdoor terrains and operate in diverse weather conditions.
- April 2023: Trelleborg AB has unveiled a new line of polyurethane forklift tires, promising heightened reliability and an extended service life. Tailored for material handling operations, these tires boast exceptional durability, superior traction, and minimized rolling resistance, all aimed at boosting efficiency and productivity. Elevate your forklift fleet with these premium polyurethane tires and reap the benefits of enhanced performance and cost savings.
Forklift Tires Industry Segmentation
Industries worldwide widely use forklifts, a staple in material handling, and at the heart of these forklifts lie their essential tires. Forklifts utilize a range of tire types, including pneumatic, solid, cushion, and polyurethane.
The forklift tires market is segmented by type, sales channel, and geography. By type, the market is segmented into pneumatic forklift tires, solid forklift tires, and polyurethane forklift tires. By sales channel, the market is segmented into OEM and aftermarket. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. The report offers the market size and forecasts for the forklift tires market in value (USD) for all the above segments.
By Type | Pneumatic Forklift Tires | ||
Solid Forklift Tires | |||
Polyurethane Forklift Tires | |||
By Sales Channel | OEM | ||
Aftermarket | |||
Geography | North America | United States | |
Canada | |||
Rest of North America | |||
Europe | Germany | ||
United Kingdom | |||
France | |||
Rest of Europe | |||
Asia-Pacific | China | ||
Japan | |||
India | |||
South Korea | |||
Rest of Asia-Pacific | |||
Rest of the World | South America | ||
Middle-East and Africa |
Forklift Tires Market Research FAQs
How big is the Forklift Tires Market?
The Forklift Tires Market size is expected to reach USD 2.42 billion in 2025 and grow at a CAGR of greater than 3.99% to reach USD 2.95 billion by 2030.
What is the current Forklift Tires Market size?
In 2025, the Forklift Tires Market size is expected to reach USD 2.42 billion.
Who are the key players in Forklift Tires Market?
Camso, Continental AG, Trelleborg AB, The Yokohama Rubber Co. Ltd. and Hankook are the major companies operating in the Forklift Tires Market.
Which is the fastest growing region in Forklift Tires Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Forklift Tires Market?
In 2025, the Asia-Pacific accounts for the largest market share in Forklift Tires Market.
What years does this Forklift Tires Market cover, and what was the market size in 2024?
In 2024, the Forklift Tires Market size was estimated at USD 2.32 billion. The report covers the Forklift Tires Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Forklift Tires Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Forklift Tires Industry Report
Statistics for the 2025 Forklift Tires market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Forklift Tires analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.