The mining tire market is enjoying continued growth in sales as the mining industry rebounds in the U.S. supported by favorable government policies.
Source: www.rubbernews.com
Rebound in the U.S. mining industry aided by favorable government policies continue to drive the mining tire market. After witnessing strong growth in 2018, both OE and the replacement mining tire markets are expected to continue their growth in 2019. Demand for the OE segment continues to be driven by scheduled replacement of mining equipment and fleets adding new equipment. This replacement demand will be driven by the large volume of new OE mining machines that entered the market in 2017 and 2018. Increased demand has resulted in tire shortages, particularly in large mining tires (49-inch and 51-inch). Continental and Yokohama, amongst other tire manufacturers, are expanding capacity of these larger tires to meet increasing demand and alleviate shortages.
