Global Truck and Bus Radial Tire Market – Upcoming Demand & Growth Analysis 2020-2030
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As manufacturing industries expand, demand for transporting raw materials and finished goods to end users is increasing. Consequently, production of heavy duty trucks is picking up pace, thereby accelerating demand for radial tires. In addition, burgeoning e-Commerce has proliferated the need for last-mile deliveries across prominent geographies, prompting industries to develop effective transportation links, thus necessitating higher fleet maintenance.
Despite a substantial deceleration ushered in by the COVID-19 pandemic, growth prospects for the market appear largely positive, with projections set to resume normal trajectory post-2020, reaching a valuation of US$ 98 Bn by the end of the forecast period (2020 to 2030).
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Key Takeaways from Truck and Bus Radial Tire Market Report
• Trucks to capture substantial share by application in the TBR tire market space, attributed to increased production of medium and heavy duty trucks to transport goods.
• By sales channel, the aftermarket segment is poised to be the most lucrative. Increasing awareness about constant fleet maintenance is driving growth.
• Asia Pacific to emerge as a key revenue generator in the global TBR tire market, attributed to the presence of multiple tire manufacturers.
• High dependence on public transport by passengers to heighten bus-grade radial tire sales.
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Truck and Bus Radial Tire Market – Segmentation
Fact.MR’s research study assesses the global truck and bus radial tire market in terms of application, sales channel, and region. This report presents extensive market dynamics and trends associated with different segments of the market and their influence on the growth prospects of the global TBR tire market.
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Truck and Bus Radial Tire Market Structure
The global truck and bus radial tire market comprises the following vendors:
• Bridgestone Corporation
• Aeolus Tyre
• Cheng Shin Rubber
• Toyo Tires
• KUMHO Tire
• Giti Tire
• The Goodyear Tire and Rubber Company
• Yokohama Rubber Company
• ZC Rubber
• Continental AG
• Sumitomo Rubber Industries Ltd.
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