Bias Tire Market Share 2022: Global Trends, Key Players, Industry Analysis and Forecast to 2028

The bias tire market is anticipated to grow at a significant CAGR of 3.9% during the forecast period (2022-2028). Due to their crosshatch structure, bias tires have stronger sidewalls. When compared to radial tires, these tires are less costly and provide a smooth ride on rocky surfaces. Bias tires' tread, on the other hand, wears out quickly due to their great traction. The increased rolling resistance has an impact on fuel economy as well. The increased operator comfort and capacity to sustain greater loads is a significant element driving the market's growth. Automobile manufacturers choose biased tires due to their ability to bear higher loads. Bias tires are now being used in industrial applications such as port and terminal machines.

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The global bias tire market is segmented based on the type, vehicle type, and sales channel. Based on the type, the market is sub-segmented into general bias tires and bias-belted tires. Based on the vehicle type, the market is sub-segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Among these vehicle types, the heavy commercial vehicle segment is expected to propel the growth of the market due to the increasing demand and usage of bias tires in commercial vehicles globally. Based on the sales channel, the market is sub-segmented into OEM and aftermarket.

The market players are also contributing significantly to the market's growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in May 2020, Goodyear Tire & Rubber Co. introduced three tire sizes for straight trucks, day cabs, box trucks, heavy-duty pickups, and regional vehicles. In Canada and the US, the new Fuel Max RTD tires are available. Similarly, in September 2019, Continental AG launched its first specialized truck tire manufacturing in Clinton, Mississippi, in the US. The factory is projected to achieve maximum production capacity in the next decade and will produce truck and bus tires for the US, according to the company. The company's 'Vision 2025' growth goal includes the establishment of a specialized truck tire facility as well as expansion into North America.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Vehicle Type
o By Sales Channel

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Bridgestone Corp., The Goodyear Tire & Rubber Co., Continental AG, Cooper Tire & Rubber Co., YOKOHAMA Rubber CO. Ltd., Pirelli & C S.p.A., JK Tire & Industries Ltd., Sumitomo Tires, Giti Tires, and Hankook Tire & Technology Co. Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Bias Tire Market Report by Segment

By Type
• General Bias Tire
• Bias Belted Tire

By Vehicle Type
• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

By Sales Channel
• OEM
• Aftermarket

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This release was published on openPR.