In order to have a favorable influence on the operational bottom line, there is a rising demand to increase the productivity and efficacy of forklifts. To suit customer requirements, Yokohama, a Japanese rubber and tire firm, is expanding its manufacturing capabilities in pneumatic bias, pneumatic radial, press-on band tires, and robust solid tires. Such innovations are expected to pave way for rapid growth of the global rubber tire market.
Pneumatic radial tires are considered the benchmark for forklift tires in busy ports, warehouses, and construction sites as they are excellent at dissipating heat. Radial tires and pneumatic bias, which give higher ground clearance than press-on band tires, are widely promoted for tasks in difficult terrain.
Rubber tire consumption is expected to rise as demand for utility vehicles grows throughout the world. Traffic congestion has increased due to last-mile deliveries and the growth of eCommerce business. The number of kilometers travelled by trucks is increasing, which is likely to drive demand in the global rubber tire market in the years to come.
Increasing Demand for Aftermarket Services to Fuel Growth of the Market
A rise in small and medium-scale companies throughout the world is expected to strengthen manufacturing industries, which would, in turn, fuel the global rubber tire market. Furthermore, an expansion in global transportation is projected to boost demand for heavy and light commercial vehicles, which is predicted to bolster demand for rubber tires throughout the world. As they need to be replaced on a regular basis, rubber tires come with a high aftermarket demand. The global rubber tire market is expected to benefit from an increase in the number of on-road trucks in rapidly developing regions such as the Middle East and Africa, Latin America, and Asia Pacific.
In the rubber tire business, airless tires are a game-changer. At the Tire Technology Expo Conference, Michelin Group, earned accolades for its revolutionary UPTIS puncture-proof airless prototype. Companies in the global rubber tire market have been encouraged to innovate in airless tires as a result of new mobility demands and expanding environmental issues in the automobile industry.
The automobile industry is going through a revolution unlike any other, resulting in sustainable transportation innovation. Airless tires are a puncture-proof alternative to traditional rubber tires used in passenger automobiles. Market players are using high-tech materials to make airless tires that need less maintenance, are more energy efficient, and utilize less material.
Request a sample to get extensive insights into the Rubber Tire Market