Heavy-Duty Tire Market to Register an Impressive CAGR of 6.2% during 2019 – 2023 | Global Key Players – Bridgestone, Continental Tires, Armour Tires, Hankook Tire, Michelin, Mitas, Maitech Tire, Goodyear

Global Heavy-Duty Tire Market research report 2019 - 2023 provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.

Overview of the Global Heavy-Duty Tire Market:

The Global Heavy-Duty Tire Market is anticipated to project a CAGR of around 6.2% during the forecast period of 2018-2023.

Increased demand for construction, mining, and agricultural machinery & equipment, and their tire replacement has boosted the demand for heavy-duty tires from both OEM and aftermarket sector. Technological development in small off-the road (OTR) tires revolves around the development of new tread patterns, compounding and casing upgrades.

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The road and bridge construction markets are also expected to fuel the growth of small and large off-the-road tire sales. Increased emphasis on federal and state funding for these infrastructural projects is a major driver of growth in the heavy-duty tire markets. Growing demand for these tires in developing nations is due to the support from the industry growth. Also, improving global economic environment and increasing emphasis on mechanization of agricultural activities is leading to experience an increase in the demand for harvesters, tillers, and shredders, and in turn will drive the demand for tires in this market.

In 2017, majority of the European countries experienced growth in the agricultural machinery market when compared to its past two years declining records and the market is likely to continue to increase during the forecast period. Hence, Europe is likely to register a faster growth rate in agricultural machinery tires market during the forecast period.

Demand for tire retreads has also been increasing as the fleet managers/operators continue to leverage retread programs to reduce the operating costs. Retreading can help the heavy commercial vehicle segment save a significant amount of money, as it is significantly cheaper than a tire replacement.

This comprehensive Heavy-Duty Tire Market research report 2019 – 2023 includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers.

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Major Key Players:

1 Bridgestone Corporation

2 Continental Tires

3 Armour Tires

4 Hankook Tire

5 Michelin

6 Mitas

7 Sumitomo Rubber Industries, Ltd

8 Maitech Tire

9 Goodyear and More………..

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Table of Contents:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Overview and Technology Trends

5 Market Dynamics

6 Heavy-Duty Tire Market Segmentation, By Vehicle Type

7 Global Heavy-Duty Tire Market Segmentation, By End Markets

8 Global Heavy-Duty Tire Market Segmentation, By Geography

9 Competitive Landscape

10 Company Profiles

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