Global Logging Equipment Tire Market Sluggish Growth Rate Foreseen by 2022-2028

The global logging equipment tire market is anticipated to grow at a CAGR of 3.5% during the forecast period (2022-2028). Factors driving this growth include the growing demand for forest machinery and truck tires, and the increase in global construction activities that are expected to boost the logging equipment tire market. Due to increased compliance with safety regulations, strict laws have been enforced on workers involved in hazardous activities such as mining that could lead to unsafe choices and thus have an indirect impact on the forest tire industry due to its high use in the mining and construction industry. The rapid urbanization has led to an increase in demand for timber and timber products and to fulfill the demand for this products to extract this demand for lgging equipment machines are been increasing. However, producers are increasingly using stable, reliable, and comfortable forest equipment. The resources increase efficiency and output to match demand. The increase in machinery production is leading to the growth of thelogging equipment tire market.

The population of urban areas is increasing due to the increase in migration across the globe. Increased migration of job seekers has increased the number of immigrants, resulting in a significant rise in the need for commercial and residential construction. This has increased the demand for wood and wood products. It has led to an increase in the demand for tires for equipment. The manufacturers are increasingly focusing on using natural rubber as the main material using various processes to strengthen it to produce raw rubber. For instance, the Alliance Tire Group recently introduced forest tires tied with metal straps. These new tires have a special combination to withstand the challenges faced by the wheels of heavy CTL equipment. Another company, known as Titan International 2018 introduced new powerful tires to cope with the huge load and demand for torque on forest equipment.

Additionally, the synthetic rubber is reused and made of polymers found in crude oil to produce logging equipment tires. With the development of tires for improved logging equipment tires, manufacturers are also focusing on eliminating vibrations and noise with the help of advanced tires for forest equipment. The new materials used to make tires to meet a variety of needs also test especially harmful tests performed by tire manufacturers to ensure the proper functioning of logging equipment tires, to meet a specific requirement. Some major players in the marketinclude Balkrishna Industries Ltd., Deere & Co., MAXAM TIRE INTERNATIONAL LTD, Qingdao Qizhou Rubber Co. Ltd,  Tianjin United Tire & Rubber International Co. Ltd, and Trelleborg AB,., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Balkrishna Industries Ltd., Deere & Co., MAXAM TIRE INTERNATIONAL LTD, Qingdao Qizhou Rubber Co. Ltd, Tianjin United Tire & Rubber International Co. Ltd, and Trelleborg AB,. among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Logging Equipment Tire Market Report by Segment

By Type

• Pneumatic
• Solid
• Polyurethane

By Application

• OEM
• Aftermarket