Specialty Tires Market 2024-2028: Size and Rental market of specialty vehicles; growth driven by the Application, Some of key Companies Positioned Strategically

The specialty tires market size by Application (Mining and construction, Agriculture, Aircraft, and Others) and Geography (APAC, North America, Europe, South America, and Middle East and Africa), is forecast to increase by USD 12196.2 million. The market is expected to grow at a CAGR of   4.83% between 2024 and 2028.

• The global specialty tires market experiences significant growth due to the increasing sales of specialty vehicles. However, the emergence of heavy-duty specialty vehicle and equipment rental services poses a threat to new vehicle sales. The high cost of ownership and maintenance for specialty vehicles, coupled with their limited usage areas and seasonal requirements, make rental services an economical alternative. Rental companies are capitalizing on this trend by offering access to specialized equipment and vehicles on a flexible, as-needed basis. This shift towards rental services may lead to a decrease in new vehicle purchases within the specialty market.
• The Specialty Tires market represents a significant business opportunity for manufacturers and suppliers, driven by increasing demand for specialized tires in various industries. These tires cater to specific applications, such as agriculture, construction, mining, and forestry, where standard tires fail to deliver optimal performance. Market growth is fueled by factors including technological advancements, rising demand for fuel efficiency, and stringent regulations. Businesses operating in this sector can capitalize on these trends by offering innovative, high-performance solutions to meet the unique needs of their clients.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• Balkrishna Industries Ltd.
• Bridgestone Corp.
• Continental AG
• Giti Tire Pte. Ltd.
• GRI Tires
• JK Tyre and Industries Ltd.
• Kumho Tire Co. Inc.
• Michelin Group
• Nokian Tyres Plc.
• Pirelli and C S.p.A
• Polymer Enterprises Inc.
• Shandong Linglong Tyre Co. Ltd.
• The Carlstar Group LLC
• The Goodyear Tire and Rubber Co.
• Toyo Tire Corp.
• Trelleborg AB
• Triangle Tire USA
• Xuzhou Construction Machinery Group Co. Ltd.
• Yokohama Rubber Co. Ltd.
• Zhongce Rubber Group Co. Ltd.

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Technavio Research
Jesse Maida
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Email: media@technavio.com
Website: www.technavio.com/