Global Industry Analysis
The Ground Support Equipment Tires Market has been steadily growing in recent years, driven by the need for improved performance and reliability of aircraft Ground Support Services. The market is expected to reach a value of $2.03 billion by 2028, with an average annual growth rate of 6.6%
The are the essential requirements of the aviation industry, they provide mobility and loading/unloading to aircraft at the terminal, power, and it is an important source of operational energy consumption at the airport. There are several types of ground support equipment including lifts, baggage carts, tractors, passenger boarding bridges and more and each equipment requires tires with different specifications. Ground support equipment tires are special kind of tires designed for specific purpose.
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Increasing number of airports with growing air connectivity is estimated to fuel the demand for ground support equipment all over the world. Going further, with increasing demand for ground support equipment, the consumption of efficient ground support equipment tires is estimated to increase because of its effectiveness to reduce time lag. Owing to the increasing demand, the global ground support equipment tires market is anticipated to witness significant growth during the forecast period.
Ground Support Equipment Tires Market: Dynamics
The air travel passengers are increasing day-by-day across the globe, with an establishment of more than 700 routes for better connectivity. According to the International Air Transport Association, the Asia Pacific passenger traffic increased by 8.3% in 2016 which is more than the average growth of the last five years, i.e., 6.9%.
Such an increase creates new challenges for the government to provide appropriate infrastructure, technology and equipment that can accommodate the growth and assure that the regulation and taxes will not be restraining factors for the ground support equipment tires market growth.
This growth in passenger traffic is one of the key factors driving the demand for ground support equipment tires and thereby contributing to the global ground support equipment tires market. Expanding civil aviation industry is also one of the key factor contributing in the growth of ground support equipment tires market
Ground Support Equipment Tires Market: Segment
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Ground Support Equipment Tires Market: Regional Outlook
With developing airport infrastructure and growing demand for ground support equipment, the requirement for durable ground support equipment tires is increasing at a good pace across the globe. The aviation industry has always been under the scanner of regulating authorities and is required to adhere to various guidelines issued by them.
Such regulations existing in the aircraft ground support equipment tires market have compelled manufacturers to develop products that are compatible with the present regulatory guidelines.
This, in turn, is anticipated to contribute to the increasing growth of the ground support equipment tires market in developed regions such as North America and Europe. Asia Pacific is expected to be an opportunistic market for ground support equipment tires in terms of consumption owing to increasing sales of aircrafts in the region.
The number of passengers has grown rapidly in the Asia Pacific region owing to the liberalization of markets, growth in wealth and size of the middle class. This is estimated to be the primary factor for the growth of ground support equipment tires in the region.
Ground Support Equipment Tires Market: Key Participants
Examples of some of the market participants identified across the value chain of the global Ground Support Equipment Tires market include:
- Super Grip Corporation
- Trelleborg AB
- Ken Jones Tires
- Ground Support Products
- Maxam Tire
- Continental AG
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Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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