On the basis of insights and findings in the report, the long-term stance for the global forestry equipment tires market is expected to be positive with an estimated value CAGR of 5.7% during the forecast period. Increasing demand for wood and wood products, coupled with the shift towards mechanization and automation in forestry operation to increase efficiency and output, is one of the key factors expected to lay a robust foundation for the growth of the forestry equipment tires market during the forecast period. The global forestry equipment tires market is estimated to create an incremental $ opportunity of US$ 920.8 Mn during the forecast period.
Global Forestry Equipment Tires Market: Segmentation Overview
On the basis of type, the pneumatic segment is expected to be a high value segment, accounting for a significant share of the global forestry equipment tires market. While the segment is expected to witness robust growth during the forecast period, it is expected to face stiff competition from solid tires and polymer based tires, owing to their enhanced performance and longer work life.
Among equipment type segments, the forestry tractor tires segment is pegged to be a prominent segment in the global forestry equipment tires market. The segment is expected to maintain its prominence through the forecast period. The forestry skidders and forwarders segment is expected to expand at a significant pace during the forecast period
By sales channel type, the aftersales channel segment dominates the global forestry equipment tires market with a significant share and is expected to experience robust growth during the forecast period
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Global Forestry Equipment Tires Market: Vendor Insights
The global forestry equipment tires market is consolidated with tier-I players accounting for a significant share during 2018. Some of the leading market participants operating in the global forestry equipment tires market, including MICHELIN, Nokian Tyres plc, Bridgestone Corporation, Titan International, Inc., Balkrishna Industries Limited, The Yokohama Rubber Co. Ltd., Trelleborg AB, Qingdao Qizhou Rubber Co. Ltd., Maxam Tire International LTD and Tianjin United Tire & Rubber International Company Limited.