TBR Tire Market Size is Estimated to Reach USD 187 Billion by 2030

Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled "TBR Tire Market (Type: All Position, Drive, Trailer; Application: Trucking Industry, Public Transportation Services, Urban Use) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2022 - 2030", estimates that global TBR tire market is expected to reach the market value of around USD 187 Billion by 2030 and is expected to grow at a CAGR of around 4.5% in terms of revenue during the period 2022 - 2030. Owing to the factors such as TBR tire offer certain safety advantages over other type of tires and are structurally strong. Moreover, they offer better structural strength, more cornering force for better control while maneuvering and cornering, and less stopping distance because of the larger foot print area (tread contact patch). It may be significant to note that TBR tires are helping to lessen the cost of accidents and resulting losses. Conversely, the purchasing cost of TBR is higher than that of a bus or bias-ply truck tire. This is perhaps the most important reason why many bus and truck operators hesitant to invest in a TBR tire which intern curbs the market growth. Whereas, performance enhancement in terms of deterioration, durability, rolling resistance, and comfort significant advantage in terms of the overall operating cost expected to boost the market growth through the forecasting phase.

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Enhanced Safety Highly Contributing to the Growth of This Market

TBRs offer certain safety advantages over bias-ply tires. They are structurally stronger than bias-ply tires. As mentioned earlier, they offer improved structural strength, more cornering force for superior control while cornering and maneuvering, and less stopping distance because of the larger foot print area. On the other hand, the TBR tire holds a principle share in overall truck and bus tire market; and is influenced by several variables, together with economic activity and truck production (determining OE tire demand), size, sales, composition and use of the trucks in commission (a major determinant of replacement demand). Likewise, truck ownership, driving patterns, fuel costs, behaviors, and use of transport alternatives are significant aspects of tire use. Also, miles driven and tire wear/replacement, as well as further truck sales are directly proportional to the expansion of TBR tire market. Besides, significant advantage in terms of overall operating cost is expected to boost the market growth through the forecasting phase.

Operating Costs Can Hamper The Market Growth

TBRs offer a significant advantage in terms of overall operating cost. The purchasing cost of a TBR is nearly 20 per cent expensive than that of a non-radial bus tire or bias-ply truck tires. This is perhaps the vital aspect why many truck and bus operators are reluctant to invest in a TBR. What they need to do however is to consider the performance enhancement in terms of durability, wear, rolling resistance, and comfort. The retread-ability of TBRs is higher than bias-ply tires i.e. three times that of a bias-ply tire, and results in a life that is two times more than that of a bias-ply tire. The consumption of tread rubber in a bias-ply tire is more than that of a TBR. This often leads to a situation where bias-ply tires need retreading faster than a TBR. The fuel cost as well as the running cost per km of a TBR is 5 per cent lower than that of a bias-ply tire.

Regional Viewpoint

The study by Acumen Research shows that United States held the prime position in TBR tire market in 2017, attributable by the elements such as presence of gigantic transportation industry and with solid financial conditions. Asia-Pacific follows the trend, specifically driven by China (regardless of some more as of late developing concerns), and is fundamental main thrust in the worldwide TBR tire market. This industry-driving business sector will grow at a rapid pace as compared to other businesses, at around 5% every year through 2025, with interest surpassing in excess of 75 million units. The major factors contributing to this growth include development in transportation services in the country, more versatile populaces, financial advancement and improvement in mechanical and transportation offices. Both South America and Middle East/Africa are required to expand their services over the years and make their transportation services more dependable.

Insights on Market Segments

Global TBR tire market is segmented by type, application and geography. Based on different types, the market is segmented into set all position, drive, and trailer. Also, application is further bifurcated into trucking industry, public transportation services, and urban use. Based on geography market is further classified into USA, China, Europe, Japan, India, Southeast Asia, and Rest of the World.

Trucking Industry Held Largest Share In TBR Tire Sales in 2017

Trucking industry segment held highest market share in 2017 in terms of volume and revenue. Improved and enlarged penetration of transportation, especially in emerging region is expected to support the growth in coming years. Furthermore, consumption of TBR tire by specifically designed trucks for different purposes namely construction; freight forwarding etc. is anticipated to show a substantial growth during upcoming time span. Increased E-commerce goods shipping and penetration owing to availability of convenient purchasing of tires is foreseen to be an influencing factor for TBR tire market through the forecasting phase.

Key Players

Some of the key players operating in the global TBR tire market, profiled in the report include Michelin, Bridgestone, Continental, Yokohama, ChemChina - Pirelli, Goodyear, Kumho, Giti, Toyo, Cooper, Hankook among others.

Table Of Content

Chapter 1. TBR Tire Market Overview
Chapter 2. Global TBR Tire Competition by Players, Type and Application
Chapter 3. USA TBR Tire (Sales, Revenue and Price)
Chapter 4. China TBR Tire (Sales, Revenue and Price)
Chapter 5. Europe TBR Tire (Sales, Revenue and Price)
Chapter 6. Japan TBR Tire (Sales, Revenue and Price)
Chapter 7. India TBR Tire (Sales, Revenue and Price)
Chapter 8. Southeast Asia TBR Tire (Sales, Revenue and Price)
Chapter 9. Global TBR Tire Players Profiles and Sales Data
Chapter 10. TBR Tire Manufacturing Cost Analysis
Chapter 11. Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 12. Marketing Strategy Analysis, Distributors/Traders
Chapter 13. Market Effect Factors Analysis
Chapter 14. Global TBR Tire Market Forecast (2018-2025)
Chapter 15. Research Findings and Conclusion
Chapter 16. Methodology and Data Source

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