The global truck and bus tire market is expected to grow at a CAGR of 4% during the forecast period (2022-2028). The growing demand for trucks and buses in various industries, as well as government regulations regarding fuel efficiency standards for vehicles in various regions around the world, are the main factors driving the growth of this market. Moreover, government initiatives like ‘Make in India’ will contribute to market growth during the forecast period. A tilted tire is a type of pneumatic tire in which the carcass strings are placed at an angle of less than 90 degrees to the tread center line. Compared to radials, tilt tires generally have lower rolling resistance and longer wear life. Radial tires have layers of wire that pass from bead to bead across the tread.
Radial technology is now widely used in automotive applications all over the world, including in North America, which in the past relied on competing technologies such as white or diagonal wall designs. Global demand for commercial vehicles is expected to drive demand for truck tires. Moreover, the growth of e-commerce is expected to fuel the demand for trucks, which will drive the global truck and bus tire market. There is a significant demand for commercial vehicles from various end industries such as transportation, logistics and manufacturing. The truck and bus tire market in Latin America is driven by the growing demand for commercial vehicles, which is expected to increase the demand for truck and bus tires. In addition, the growing infrastructure development activities in the area are increasing the demand for truck and bus tires.
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Market coverage
- Available market number for – 2021-2028
- Base year – 2021
- Forecast period – 2022-2028
- Covered segment-
- By type
- By application
- Covered areas-
- North America
- Europe
- Asia Pacific
- the rest of the world
- Competitive view – Bridgestone Corp., Michelin and Goodyear, among others.
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Key questions addressed in the report
- What is the growth rate of the market?
- Which segment and region dominate the market in the base year?
- Which segment and region will show the fastest growth in the market?
- How has COVID-19 affected the market?
- Deviation from the forecast before COVID-19
- The area and section most affected
- Who is the market leader?
- How do players face challenges to sustain growth?
- Where is the investment opportunity?
Full report of The global truck and bus tire market is available at: https://orionmarketreports.com/global-truck-and-bus-tires-market/112152/
Global Truck and Bus Tire Market Report by Segment
By type
- Tilt tire
- Radial tire
By application
- Truck tire
- Bus tire
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