Canada Solid Tire Market, By Region, Competition, Opportunities & Forecast, 2020-2030F

The Canada Solid Tire Market was valued at USD 5.1 Billion in 2024, and is expected to reach USD 8.9 Billion by 2030, rising at a CAGR of 7.60%. The Canada solid tire market is witnessing consistent growth due to the increasing need for resilient and long-lasting tires in industries such as construction, warehousing, mining, and logistics. These industries require equipment that can operate in challenging conditions with minimal maintenance, making solid tires a preferred choice. Solid tires offer superior resistance to punctures and wear, which improves safety and productivity. The expanding infrastructure sector and the increasing use of forklifts and heavy-duty vehicles further support the rising demand. Businesses are recognizing the cost-efficiency of solid tires in reducing downtime and replacement frequency, making them a strategic investment in operational reliability.

Advancements in material science and manufacturing techniques are contributing to the development of high-performance solid tires. Manufacturers are focusing on enhancing tire properties such as load-bearing capacity, heat dissipation, and grip. The integration of smart features, including pressure and wear sensors, is emerging as a trend, enabling predictive maintenance and minimizing operational disruptions.

The Canadian government allocated over USD 33 billion towards various infrastructure projects nationwide, significantly boosting the demand for construction equipment. Ontario's 30-year transit plan involves building a transportation network focused on new highways, rail lines, and subway systems, with an estimated cost of USD 65.7 billion over the next ten years. Government infrastructure investments, thereby increasing the need for solid tires on heavy machinery like loaders, telehandlers, and forklifts.

Market Drivers

Demand for Durability and Puncture Resistance

Solid tires are increasingly favored in industries like construction, mining, and logistics due to their exceptional durability and resistance to punctures. Unlike pneumatic tires, solid tires eliminate the risk of flats and blowouts, ensuring uninterrupted operations in challenging environments. This reliability is crucial for heavy-duty equipment that operates in harsh conditions, leading to reduced downtime and maintenance costs.

As industries prioritize operational efficiency and safety, the demand for solid tires continues to rise, driving market growth. The Canadian government is actively investing in the tire industry to promote manufacturing and sustainability. For instance, Goodyear Tire & Rubber Co. is investing over USD 416.36 million to upgrade its plant in Napanee, Ontario, with USD 32.08 million from the federal government and USD 14.48 million from the Ontario provincial government. This project aims to increase production capacity, including tires for electric vehicles, and achieve net-zero emissions by 2040.

Key Market Challenges

High Initial Cost

The upfront cost of solid tires can be higher than that of pneumatic alternatives, which may deter some businesses from making the switch. However, the long-term savings due to reduced maintenance and downtime can offset this initial investment. Educating businesses on the total cost of ownership and the benefits of solid tires is essential to overcome this challenge. The production of solid tires involves materials and processes that can have a significant environmental impact. Addressing these concerns requires the development of more sustainable manufacturing practices and materials. Investing in research to reduce the environmental footprint of tire production is crucial for the industry's long-term sustainability.

Key Market Trends

Integration of IoT and AI in Tire Monitoring

The adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technologies is transforming tire maintenance. These technologies enable real-time monitoring of tire conditions, leading to predictive maintenance and improved operational efficiency. Implementing IoT and AI solutions can help businesses optimize tire performance and reduce unexpected downtime. There is a growing demand for non-marking solid tires, especially in industries where cleanliness is crucial, such as food processing and pharmaceuticals. These tires prevent floor markings, maintaining a clean working environment. Manufacturers are focusing on developing non-marking tire solutions to meet the specific needs of these industries.

Key Market Players

• Michelin Group
• Bridgestone Corporation
• The Goodyear Tire & Rubber Company
• Continental AG
• Yokohama Rubber Company
• Maxxis International
• Trelleborg AB
• Global Rubber Industries
• Magna Tyres
• Pirelli & C. S.p.A.

Report Scope:

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

Canada Solid Tire Market, By Type:

• Curled on Solid Tire
• Pressed on Solid Tire

Canada Solid Tire Market, By Demand Category:

• OEM
• Replacement

Canada Solid Tire Market, By Vehicle Type:

• Forklifts
• Lawn Mowers
• Golf Carts
• Baby Carriages
• Wheelbarrows
• Others

Canada Solid Tire Market, By Region:

• Quebec
• Ontario
• Alberta
• British Columbia
• Saskatchewan & Manitoba

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Canada Solid Tire Market.

Available Customizations:

With the given market data, the publisher offers customizations according to the company’s specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).