Forklift Tire Market Segmented By Tire Type (Pneumatic Tires, Solid Tire, Cushion Tires, Polyurethane Tire), By Sales Channel (OEM, Aftermarket), By Application Type (Manufacturing, Mining & Construction, Automotive, Agriculture and Others), By Region, By Competition Forecast & Opportunities, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 2.17 Billion
CAGR (2026-2031)	5.19%
Fastest Growing Segment	Solid Tire
Largest Market	Asia Pacific
Market Size (2031)	USD 2.94 Billion

Market Overview

The Global Forklift Tire Market will grow from USD 2.17 Billion in 2025 to USD 2.94 Billion by 2031 at a 5.19% CAGR. Forklift tires are specialized, reinforced wheel components designed for material handling vehicles to support substantial loads and maintain stability during industrial operations. The primary driver of this market is the rapid expansion of the global e-commerce sector, which has necessitated a significant increase in warehousing and logistics facilities requiring reliable material handling equipment. Furthermore, the rising demand for industrial automation supports growth, as automated guided vehicles and continuous-duty forklifts require durable, high-performance tires to maintain operational efficiency.

A major challenge impeding market expansion is the volatility of raw material prices, specifically natural rubber, which creates cost uncertainty for manufacturers. Supply fluctuations and weather-related disruptions can lead to input shortages, squeezing profit margins and affecting pricing strategies. According to the Association of Natural Rubber Producing Countries, in 2025, global natural rubber production is estimated to rise by 1.3% to 14.89 million tonnes, a figure that highlights the tight supply conditions facing the tire manufacturing industry.

Key Market Drivers

The rapid expansion of global e-commerce and warehousing logistics acts as the primary catalyst for the forklift tire market, driving the need for durable tires to support intense material handling operations. As retailers scale infrastructure to meet delivery demands, forklift fleet utilization has surged, necessitating frequent tire replacements to ensure operational continuity. This logistics growth correlates directly with record financial performances in the material handling sector. According to Toyota Industries Corporation, August 2024, in the 'Annual Financial Report 2024', net sales for their Materials Handling Equipment Segment reached 2,587.2 billion yen, driven significantly by robust demand in North America and Europe. Consequently, fleet managers prioritize tires offering extended wear life and stability to minimize costly downtime in 24/7 distribution centers.

Concurrently, the surging adoption of electric and autonomous material handling equipment is reshaping tire requirements toward energy-efficient compounds. Electric forklifts and automated guided vehicles (AGVs) demand tires with lower rolling resistance to maximize battery life and ensure precise movement for sensor-guided navigation. This shift is evident in procurement trends favoring battery-operated fleets over traditional combustion models. According to KION Group, February 2024, in the 'Annual Report 2023', electric forklift trucks and warehouse technology vehicles accounted for approximately 71% of global industrial truck orders. Such market penetration accelerates the transition to premium solid tires essential for these modern machines. The sheer scale of this equipment market underscores the potential for tire manufacturers; according to the Industrial Truck Association, March 2025, in its economic impact report, over 2.1 million industrial trucks were ordered globally in 2023, creating substantial recurring demand for specialized tire solutions.

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Key Market Challenges

The volatility of raw material prices, particularly for natural rubber, stands as a critical disruption to the Global Forklift Tire Market. This fluctuation creates a precarious cost environment for tire manufacturers, who are unable to accurately forecast production expenses or maintain stable pricing structures for their clients. When input costs rise unexpectedly due to supply chain constraints or weather-related yield reductions, manufacturers experience immediate pressure on profit margins. Consequently, these increased costs are often passed down the supply chain, resulting in higher procurement prices for logistics companies and warehouse operators. This price sensitivity forces end-users to delay fleet maintenance or opt for lower-quality alternatives, effectively stalling revenue growth for premium tire producers.

The persistence of supply deficits further aggravates this situation, creating a seller’s market for raw materials that hampers industrial scalability. The inability to secure affordable raw materials limits the capacity of manufacturers to meet the surging requirements of the e-commerce and automation sectors. According to the Association of Natural Rubber Producing Countries, in 2025, global natural rubber consumption is projected to reach 15.57 million tonnes. This figure, when contrasted with production capabilities, underscores a material deficit that sustains high input costs and restricts the market’s ability to expand at its full potential.

Key Market Trends

The integration of smart sensors and Internet of Things (IoT) technologies is revolutionizing the forklift tire market by transitioning fleet management from reactive repairs to predictive maintenance. Unlike traditional tires, these intelligent units feature embedded sensors that continuously monitor critical performance metrics such as internal pressure, temperature, and tread depth, transmitting real-time data to central logistics systems to prevent unexpected failures. This connectivity is becoming essential for high-efficiency warehouses, where avoiding downtime is critical for maintaining supply chain velocity. The commercial impact of this technological shift is evident in the financial results of leading manufacturers who have prioritized digital mobility services. According to Continental AG, March 2025, in the 'Annual Report 2024', the Tires group sector generated sales of 13.9 billion euros, a performance significantly supported by the expansion of its service-oriented and digital solution portfolios.

Simultaneously, there is a decisive market shift toward the development of eco-friendly tires composed of bio-based and recycled materials to align with global sustainability mandates. Manufacturers are increasingly replacing synthetic rubber and petrochemical fillers with renewable alternatives, such as dandelion root latex, rice husk silica, and regenerated polyester from plastic bottles, to reduce the carbon footprint of material handling operations. This transition is now driving core corporate strategies rather than serving as a niche product offering, with major industry players setting aggressive targets for material circularity. For instance, according to the Michelin Group, February 2025, in the '2024 Annual Results' presentation, the company confirmed its strategic roadmap to integrate an average of 40 percent renewable or recycled materials across all its tire lineups by 2030.

Segmental Insights

The Solid Tire segment is distinguishing itself as the fastest-growing category in the Global Forklift Tire Market, driven by its superior durability and operational efficiency. These tires are increasingly favored in heavy-duty applications because they are puncture-proof, which eliminates the downtime associated with flat tires and significantly reduces maintenance expenses. Additionally, the rising adoption of electric forklifts necessitates the enhanced stability and high load capacity that solid rubber compounds offer. This preference aligns with safety standards from the Occupational Safety and Health Administration (OSHA), which emphasize minimizing equipment instability and blowout risks to ensure operator safety in industrial environments.

Regional Insights

Asia Pacific currently leads the global forklift tire market, driven by robust industrialization and expanding manufacturing sectors in key economies such as China and India. The region serves as a central global hub for production, ensuring sustained demand for material handling equipment. Furthermore, the rapid growth of e-commerce has accelerated the development of warehousing and logistics infrastructure, necessitating frequent tire replacements. Government initiatives supporting large-scale construction and infrastructure projects continue to strengthen the market position of Asia Pacific as the primary driver of global demand.

Recent Developments

• In December 2024, CEAT Limited entered into a definitive agreement to acquire the Camso brand's off-highway construction equipment bias tire and tracks business from the Michelin Group. The acquisition, valued at approximately $225 million, included the transfer of global ownership of the Camso brand for these specific categories, along with two manufacturing facilities. This strategic move was designed to significantly expand CEAT’s product portfolio in the high-margin off-highway tire segment, specifically enhancing its capabilities and market presence in the agriculture, material handling, and construction sectors.
• In June 2024, Yokohama Off-Highway Tires expanded its Galaxy MFS 101 SDS forklift tire range by launching three new non-marking options. These tires were specifically engineered for indoor electric forklifts operating in environments with strict cleanliness requirements, such as facilities with epoxy-coated or polished floors. The new non-marking compound was designed to prevent floor marking while retaining the durability, heat dissipation, and stability characteristics of the standard Galaxy MFS 101 SDS, addressing the growing industry demand for high-performance, floor-friendly tire solutions.
• In March 2024, Global Rubber Industries (GRI) launched its "Next Generation" line of sustainable specialty tires, which included the Ultimate Green XT for the material handling market. This new solid forklift tire was manufactured with up to 93.5% sustainable material content, incorporating bio-sourced and recycled raw materials to minimize environmental impact. The product launch, which took place at the Green Impact 2024 event, highlighted the company's focus on combining sustainability with high performance, offering enhanced energy efficiency and extended durability for industrial fleet operators.
• In March 2024, Trelleborg Tires introduced its newest tire solution for the port and logistics sector, the CX940 range, at the Intermodal South America event. Designed specifically for reach stackers and other heavy-duty material handling vehicles, the CX940 tire featured an extra-robust casing and an optimized tread design to withstand the rigors of high-intensity operations. The new tire was developed to provide superior stability, excellent traction, and improved load distribution, thereby maximizing tire lifespan and operational efficiency for businesses managing busy port logistics.

Key Market Players

• Michelin Group
• Continental AG
• Trelleborg AB
• The Yokohama Rubber Co., Ltd.
• Hankook Tire & Technology Co., Ltd.
• Bridgestone Corporation
• Michelin
• TVS Eurogrip
• Maxam Tire International
• Camso

By Tire Type	By Sales Channel	By Application Type	By Region
Pneumatic Tires Solid Tire Cushion Tires Polyurethane Tire	OEM Aftermarket	Manufacturing Mining & Construction Automotive Agriculture and Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Forklift Tire Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Forklift Tire Market, By Tire Type:

• Pneumatic Tires
• Solid Tire
• Cushion Tires
• Polyurethane Tire

• Forklift Tire Market, By Sales Channel:

• OEM
• Aftermarket

• Forklift Tire Market, By Application Type:

• Manufacturing
• Mining & Construction
• Automotive
• Agriculture and Others

• Forklift Tire Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE