The Market Demand for material handling equipment tires witnessed massive slowdown in its progress as a result of the spread of Covid-19 pandemic across the globe. The level of demand declined to the extreme level due to lockdown creating hurdles for the key players operating in this market.
However as recovery commences in 2021, major players are recuperating their positions through production expansion, capacity utilizations and online selling in 2021 keeping in view the covid-19 norms.
The pandemic has presented critical challenges in front of material handling equipment tires industry players such as insufficient raw material supply, shortage of work force and hampered supply chain etc. China, which is the leading material handling equipment tires manufacturing country is facing trouble for exports as most of the shipping ports in the country are currently not operational.
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Material Handling Equipment Tires Market: Market Segmentation
For a better understanding, global material handling equipment tires market is being studied under product, sales channel & Region.
Based on the product, the material handling equipment tires market can be segmented as:
- Pneumatic Tires
- Solid Tires
- Polyurethane Tires
Based on the sales channel, the material handling equipment tires market can be segmented as:
Based on the Region, the material handling equipment tires market can be segmented as:
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa (MEA)
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The Material Handling Equipment Tires Market Competitive Landscape
The global material handling equipment tires market is highly consolidated in nature. Leading players industry have focus on introducing new products through continuous the research and development.
For instance, in July 2019, one of the leading material handling equipment tires manufacturing company LAUGFS Rubber announced launch of a new line of pneumatic tires for forklift and skid steer.
Some of the other leading players in the global material handling equipment tires market are Artic Investments S.A. (CAMSO), Continental AG, Trellborg AB, The Yokohama Rubber Co., Ltd., and Hankook Tire & Technology Co., Ltd. etc.
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The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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Asia – Pacific is Likely to Lead the Global Material Handling Equipment Tires Market
Developing countries in the Asia – Pacific such as China, India and ASEAN Countries are likely to accumulate majority chunk of the revenue pie of the global material handling equipment tires market through the forecast period. This is attributed to rapid growth in the number of warehouses due to increased retail operations in the region.
Also, China and ASEAN Countries have become manufacturing hub of the world which has created significant demand for the material handling equipment in the region.
High degree of exports operations from the region has given boost to the goods transportation industry which has created substantial demand for material handling equipment. Therefore, Asia – Pacific has become the most suitable market for the manufacturers of the material handling equipment tires.
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