Construction Equipment Tire Market Research Report By Tire Type (Pneumatic Tires, Solid Tires), By Application (Off-Highway Construction Equipment, On-Highway Construction Equipment), By Vehicle Size (Compact Equipment, Medium Equipment, Heavy Equipment), By Tread Pattern (Smooth Tread, Lugged Tread, Block Tread) and By Region (North America, Europe, South America, Asia Pacific, Middle East and Africa)- Forecast to 2032.

Construction Equipment Tire Market Overview:

As per MRFR analysis, the construction equipment tire market size was estimated at 8.34 (USD Billion) in 2022. The construction equipment tire market industry is expected to grow from 8.69(USD Billion) in 2023 to 12.49 (USD Billion) by 2032. The construction equipment tire market CAGR (growth rate) is expected to be around 4.12% during the forecast period (2024-2032).

Key Construction Equipment Tire Market Trends Highlighted

The construction equipment tire market is poised for steady growth, driven primarily by the rising demand for construction activities worldwide. Governments are investing heavily in infrastructure development, leading to an increase in construction projects, which in turn drives the demand for tires. Additionally, advancements in tire technology, such as improved durability and increased load capacity, are further propelling market growth.

Geographic expansion is another key trend in the market. Emerging economies in Asia-Pacific and the Middle East are experiencing a surge in construction activities, creating significant opportunities for construction equipment tire manufacturers. These regions offer a vast untapped potential for market growth.

To capture these opportunities, manufacturers are focusing on developing tires that meet the specific requirements of different construction equipment types and operating conditions. This includes tires designed for rough terrain, heavy loads, and high-speed applications. Sustainability is also becoming a key focus, with manufacturers exploring eco-friendly tire designs and materials. By addressing these trends, construction equipment tire manufacturers can position themselves for long-term success in this growing market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Construction Equipment Tire Market Drivers

Rising Demand for Construction Equipment

The construction industry is experiencing a surge in demand due to the increasing urbanization, infrastructure development, and commercial construction projects. This has led to a corresponding increase in the demand for construction equipment, including tires. Construction equipment tires are essential for the operation of heavy machinery used in construction sites, such as excavators, bulldozers, and cranes. The growing demand for construction equipment is expected to drive the growth of the construction equipment tire market in the coming years.The construction industry is a major contributor to the global economy, and its growth is expected to continue in the coming years.This growth is being driven by a number of factors, including the increasing demand for housing, commercial buildings, and infrastructure. As the construction industry grows, so too will the demand for construction equipment tires.The construction equipment tire market is a global market, with demand coming from all regions of the world. However, the Asia-Pacific region is expected to be the largest market for construction equipment tires in the coming years.This is due to the region's strong economic growth and increasing urbanization.The construction equipment tire market is a competitive market, with a number of major players. These players include Michelin, Bridgestone, and Goodyear. These companies are investing in research and development to improve the performance and durability of their tires. They are also expanding their distribution networks to reach new customers.The construction equipment tire market is expected to grow at a CAGR of 4.12% from 2023 to 2032.This growth will be driven by the increasing demand for construction equipment. The market is also expected to benefit from the development of new technologies, such as self-driving vehicles and electric construction equipment.

Technological Advancements

The construction equipment tire market is also being driven by technological advancements. These advancements are leading to the development of new tires that are more durable, efficient, and environmentally friendly.One of the most significant technological advancements in the construction equipment tire industry is the development of radial tires. Radial tires are more durable and efficient than bias-ply tires, and they also provide better traction.This makes them ideal for use in construction applications.Another important technological advancement is the development of low-rolling resistance tires. Low-rolling resistance tires reduce fuel consumption and emissions, which makes them more environmentally friendly.The construction equipment tire industry is also investing in the development of new materials. These new materials are lighter and stronger than traditional materials, which makes them ideal for use in tires.The combination of these technological advancements is expected to drive the growth of the construction equipment tire market in the coming years.

Increasing Environmental Regulations

The construction equipment tire market is also being driven by increasing environmental regulations. These regulations are aimed at reducing the environmental impact of construction activities.One of the most important environmental regulations is the Clean Air Act. The Clean Air Act regulates emissions from construction equipment, including tires. This regulation has led to the development of new tires that produce fewer emissions.Another important environmental regulation is the Clean Water Act.The Clean Water Act regulates discharges into waterways from construction activities. This regulation has led to the development of new tires that are less likely to pollute waterways.The construction equipment tire industry is also investing in the development of new technologies to reduce the environmental impact of tires. These technologies include the use of recycled materials and the development of new tire designs.The combination of these environmental regulations and new technologies is expected to drive the growth of the construction equipment tire market in the coming years.

Construction Equipment Tire Market Segment Insights:

Construction Equipment Tire Market Tire Type Insights   

The Construction Equipment Tire Market is segmented by Tire Type into Pneumatic Tires and Solid Tires. Pneumatic Tires Pneumatic tires are filled with air or another gas, which provides cushioning and helps to absorb shocks. They are the most common type of tire used on construction equipment, as they offer a good balance of performance, durability, and cost. Pneumatic tires are available in a variety of sizes and tread patterns to suit different types of equipment and applications. The global market for pneumatic construction equipment tires is expected to reach $6.78 billion by 2024, growing at a CAGR of 4.2% from 2019 to 2024.The growth of the market is being driven by the increasing demand for construction equipment, particularly in developing countries. Solid Tires Solid tires are made of a solid rubber compound, which provides excellent durability and puncture resistance. They are often used on equipment that operates in harsh conditions, such as mining and logging. Solid tires are also available in a variety of sizes and tread patterns to suit different types of equipment and applications. The global market for solid construction equipment tires is expected to reach $2.31 billion by 2024, growing at a CAGR of 3.8% from 2019 to 2024.The growth of the market is being driven by the increasing demand for construction equipment in mining and logging applications. Insights Pneumatic tires are the most popular type of tire used on construction equipment, due to their good balance of performance, durability, and cost.  Solid tires are used on equipment that operates in harsh conditions, such as mining and logging, due to their excellent durability and puncture resistance.  The global market for construction equipment tires is expected to grow at a CAGR of 4.0% from 2019 to 2024, reaching $9.09 billion by 2024. The growth of the market is being driven by the increasing demand for construction equipment, particularly in developing countries.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Construction Equipment Tire Market Application Insights   

The Application segment of the Construction Equipment Tire Market is segmented into Off-Highway Construction Equipment and On-Highway Construction Equipment. Off-Highway Construction Equipment dominated the market in 2023, accounting for over 65% of the Construction Equipment Tire Market revenue. The growth of this segment can be attributed to the increasing demand for construction equipment in developing countries, where infrastructure projects are on the rise. On-Highway Construction Equipment is expected to grow at a CAGR of 4.5% during the forecast period, driven by the increasing demand for construction equipment from the mining and energy sectors.

Construction Equipment Tire Market Vehicle Size Insights   

The Construction Equipment Tire Market segmentation by Vehicle Size into Compact Equipment, Medium Equipment, and Heavy Equipment provides valuable insights into the industry. In 2023, the Compact Equipment segment is projected to account for a significant share of the market, driven by the growing demand for small-scale construction projects and urban infrastructure development. The Medium Equipment segment is expected to witness steady growth due to its versatility and suitability for various construction applications. The Heavy Equipment segment, catering to large-scale infrastructure projects and mining operations, is anticipated to contribute substantially to the market revenue.The Construction Equipment Tire Market data indicates that the market growth is influenced by factors such as increasing construction activities, technological advancements, and stringent regulations regarding safety and emissions. Statistics show that in 2024, the Construction Equipment Tire Market size is estimated to reach 9.4 billion USD, with a CAGR of 4.7% during the forecast period.

Construction Equipment Tire Market Tread Pattern Insights   

The Construction Equipment Tire Market is segmented by tread pattern into smooth tread, lugged tread, and block tread. The smooth tread segment is expected to hold the largest market share in 2023, owing to its superior performance on hard surfaces and low rolling resistance. The lugged tread segment is expected to witness significant growth over the forecast period, due to its excellent traction and stability on off-road surfaces. The block tread segment is expected to account for a moderate market share, due to its versatility and ability to perform well on both on-road and off-road surfaces.The Construction Equipment Tire Market is driven by increasing construction activities, rising demand for efficient and durable tires, and growing awareness about safety regulations. The market is expected to witness significant growth over the forecast period, owing to increasing investments in infrastructure development and urbanization.

Construction Equipment Tire Market Regional Insights   

The Construction Equipment Tire Market is expected to witness steady growth in the coming years. The market segmentation, including regional analysis, provides valuable insights into the industry's dynamics. Regionally, North America dominates the Construction Equipment Tire Market, with a significant market share. The region's robust construction industry and growing infrastructure projects drive demand for construction equipment, including tires. Europe is another prominent region in the market, owing to its well-established construction sector and stringent regulations regarding vehicle safety.The APAC region is projected to exhibit the highest growth rate due to the increasing urbanization and infrastructure development in emerging economies like China and India. South America and MEA are also expected to contribute to the market's growth, supported by government initiatives to improve infrastructure.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Construction Equipment Tire Market Key Players and Competitive Insights:

Major players in the construction equipment tire market are constantly striving to gain a competitive edge by implementing various strategies such as product innovation, strategic partnerships, and geographical expansion.  Leading players are investing heavily in research and development to introduce advanced and specialized tires that cater to the evolving demands of the construction industry. This competitive landscape fosters innovation and drives the overall development of the construction equipment tire market.

Michelin, a leading player in the market, has a strong global presence and offers a comprehensive range of tires for various construction applications. The company's focus on sustainability and fuel efficiency has earned it a reputation for providing high-quality and environmentally friendly products. Michelin's commitment to innovation and customer satisfaction has positioned it as a trusted partner for construction companies worldwide. The company's extensive distribution network and technical support further enhance its competitive advantage.

Trelleborg, another major player, is known for its specialized tires designed for demanding off-road conditions. The company's focus on technology and innovation has led to the development of tires with superior traction, load capacity, and durability. Trelleborg's commitment to sustainability is reflected in its use of recycled materials and its efforts to reduce environmental impact. The company's global presence and strong partnerships with construction equipment manufacturers contribute to its competitive edge.

Key Companies in the Construction Equipment Tire Market Include:

• Goodyear


• Apollo Tyres


• Bridgestone


• Trelleborg


• Michelin


• Continental AG


• Sumitomo Rubber Industries


• JK Tyre Industries


• CEAT


• Balkrishna Industries


• Pirelli


• Maxxis International


• Toyo Tire & Rubber


• Yokohama Rubber


• Hankook Tire

Construction Equipment Tire Market Developments

The Construction Equipment Tire Market is projected to reach USD 12.49 billion by 2032, exhibiting a CAGR of 4.12% during the forecast period (2024-2032). Increasing construction activities in developing regions, rising demand for off-highway vehicles, and growing infrastructure investments are driving market growth.Recent developments in the market include the launch of new products, such as Michelin's X Tweel SSL airless radial tire, designed for skid steer loaders and compact track loaders. Additionally, key players are focusing on sustainability, with companies like Bridgestone introducing tires made from recycled materials. Mergers and acquisitions, such as Goodyear's acquisition of Cooper Tire & Rubber Company, are also shaping the market landscape.

Construction Equipment Tire Market Segmentation Insights

• Construction Equipment Tire Market Tire Type Outlook


• Pneumatic Tires


• Solid Tires

• Construction Equipment Tire Market Application Outlook


• Off-Highway Construction Equipment


• On-Highway Construction Equipment

• Construction Equipment Tire Market Vehicle Size Outlook


• Compact Equipment


• Medium Equipment


• Heavy Equipment

• Construction Equipment Tire Market Tread Pattern Outlook


• Smooth Tread


• Lugged Tread


• Block Tread

• Construction Equipment Tire Market Regional Outlook


• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa