PMR publishes key insights on the global Ground Support Equipment Tires market in its latest research report “Ground Support Equipment Tires Market:
Global Industry Analysis 2013 – 2017 and Forecast 2018 – 2028”, which
analyzes the global Ground Support Equipment Tires market in its
entirety.
The key findings and insights included in the report suggest that the
long-term forecast for the global Ground Support Equipment Tires market
is anticipated to be positive and the market will grow at a value CAGR
of 4.8% during the forecast period. The report provides comprehensive
insights on the topic and offers relevant statistics for the forecast
period. Increasing global air traffic is estimated to be the primary
factor anticipated to create lucrative growth opportunities in the
global Ground Support Equipment Tires market.
Global Ground Support Equipment Tires Market Dynamics
Underpinned by increasing disposable income and rapidly growing middle-class
population, air passenger traffic is expected to witness robust growth
in near future. Air traffic is increasing significantly across the
globe.
According to IATA (International Air Transport Association), the global passenger
traffic rose by 7.6% in 2017, which is more than the average annual
growth registered over the last ten years, i.e. 5.5%. This increase in
passenger traffic will create new challenges for the government in terms
of providing appropriate infrastructure, technology and services that
can accommodate growth and assure that taxes and regulation will not act
as restraining factors for market growth.
This continuous growth in passenger traffic will also drive the aviation
industry, which in turn, will lead to demand for efficient and robust
ground support equipment for handling of various services and operations
at terminal gates of an airport.
Global Ground Support Equipment Tires Market: Segmentation Overview
- Based on Tire Type segment, the air filled type segment is anticipated to be a
prominent segment by value share, contributing a significantly high
share to the global Ground Support Equipment Tires market. This segment
in the global Ground Support Equipment Tires market is projected to
witness robust growth over the forecast period, though it is anticipated
to face high competition from ground support equipment solid tires and
filled based tires owing to their enhanced performance and longer work
life - On the basis of sales channel type, the aftermarket segment dominates the
global Ground Support Equipment Tires market with a significantly high
share and is expected to experience robust growth during the forecast
period - On the basis of equipment type, the cargo loading tires segment is pegged
to be a major segment in the Ground Support Equipment Tires market. The
segment is expected to maintain its dominance throughout the forecast
period. The ground support aircraft service equipment and passenger
service segment is expected to expand at a significant pace over the
forecast period in the global Ground Support Equipment Tires market
Global Ground Support Equipment Tires Market: Regional Overview
North America is expected to dominate the global Ground Support Equipment
Tires market and was followed by Europe in terms of revenue in 2018.
These regions are projected to witness steady growth throughout the
forecast period.
The South Asia Ground Support Equipment Tires market is expected to be
behind the European Ground Support Equipment Tires market and captured
approximately a quarter of the value share in 2018. South Asia, with its
significant number of airports and due to its emerging economy, is
expected to create significant growth opportunities for the Ground
Support Equipment Tires market participants during the forecast period.
