South Korea Solid Tyre Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.6 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The South Korea Solid Tyre Market is experiencing significant growth, driven by the increasing demand for durable and maintenance-free tyres across various industries. Solid tyres, which are made from rubber and synthetic materials, offer significant advantages over traditional pneumatic tyres, including higher load-bearing capacity, resistance to punctures, and long service life. These benefits have made them particularly popular in industries such as construction, material handling, and transportation, where downtime due to tyre failure can lead to costly delays.
Industries requiring high-performance tyres for industrial vehicles, such as forklifts, pallet jacks, and construction machinery, are the primary drivers behind the solid tyre market in South Korea. Solid tyres are also widely used in electric vehicles (EVs), particularly in the commercial sector, where reliability and low maintenance are crucial. With the rise of automation and increased demand for materials handling equipment, the need for solid tyres is expected to grow even further in the coming years.
One of the key factors contributing to the growth of the South Korea Solid Tyre Market is the country’s robust industrial sector, including manufacturing, logistics, and warehousing industries. These industries heavily rely on equipment that requires durable tyres for constant operation. Solid tyres are known for their longevity, making them a cost-effective solution in such high-demand settings.
Technological advancements are also playing a major role in shaping the solid tyre market. Innovations in tyre compounds and manufacturing processes have led to the production of tyres that offer superior performance in extreme conditions, such as high temperatures or heavy-duty workloads. Additionally, the rise in automation in warehouses and distribution centers further accelerates the demand for robust and reliable tyres that can withstand continuous usage without compromising performance.
The South Korea Solid Tyre Market is expected to expand as more industries recognize the benefits of solid tyres, particularly in terms of cost-effectiveness, durability, and reduced downtime. This growth will be further fueled by ongoing developments in materials technology and the increasing need for machinery that can operate seamlessly across multiple sectors.
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TY Cushion Tire
Setco Solid Tire & Rim Assembly
Continental
MICHELIN
Trelleborg AB
NEXEN TIRE AMERICA
Tube & Solid Tire
Superior Tire & Rubber
Global Rubber industries (GRI)
CAMSO
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Solid Tyre Market
Solid Rubber Tyres
Polyurethane Tyres
Foam-filled Tyres
Industrial Equipment
Material Handling
Construction Machinery
Agricultural Equipment
Automotive
Construction
Agriculture
Mining
Logistics and Warehousing
Light Load Capacity
Medium Load Capacity
Heavy Load Capacity
Less than 15 inches
15 to 20 inches
Above 20 inches
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Solid Tyre Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Solid Tyre Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Solid Tyre Market, By Type
6. South Korea Solid Tyre Market, By Application
7. South Korea Solid Tyre Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Solid Tyre Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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