Truck-Bus Tires Market 2022 Opportunities, Business Analysis, Share, Emerging Trends, Technological Innovation and Forecasts 2027 | Aeolus Tyres, Bridgestone Corporation, Cheng Shin Rubber, Continental AG, Cooper Tire, Double Coin, Giti Tire, Goodyear Tir

Astute Analytica published a new report on the global truck-bus tires market. The global markets report analysis of the growth momentum and revenue inflows in this industry, including the impact of COVID-19. The market study report presents important factors that positively and negatively affect the growth of this vertical in order to suggest stakeholders in making decisions. In addition, the report offers data on the past, present, and future companies' scenarios. The report also contains key segments and leading players.

The Global Truck-Bus Tires Market is estimated to witness a rise in revenue from US$ 41,565 Mn in 2021 to US$ 57,261 Mn by 2027. The market is registering a CAGR of 5.5% during the forecast period 2022-2027.

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The automotive sector is continuously working to develop an integrated approach to a cleaner environment and lower carbon emissions. In order to minimize fuel consumption, automakers are creating more efficient engines and drive trains, and a wide range of sophisticated emissions-control equipment is placing cleaner cars on the road globally.

It is forecast that clear improvements in air quality can notice when more new automobiles with contemporary exhaust emissions performance hit the road. As older, more polluting cars replace the new ones. Thus, this trend will continue to lead to the growth of the automotive sector.

Impact Analysis of COVID-19

The COVID-19 pandemic wreaked havoc on the worldwide automotive industry quickly and severely. Chinese parts shipments halted, large-scale manufacturing disruptions were occurring across Europe, and assembly factories in the United States had to close. This has put a lot of pressure on a sector already dealing with a worldwide demand downturn due to decreased consumer needs.

According to data from the International Organization of Motor Vehicle Manufacturers, the commercial vehicle sector in out of 40 major nations, 17 nations, including Belgium, Canada, Germany, Japan, etc., saw negative growth of 67.5% during the COVID-19 pandemic.

Regional Insights

By Tire Type segment of the Global Truck-Bus Tires Market is sub-segmented into:
Radial
Bias

By Operation Type segment of the Global Truck-Bus Tires Market is sub-segmented into:
Steer
Drive
Trailer

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By Applications segment of the Global Truck-Bus Tires Market is sub-segmented into:
Truck
Bus

By Weight segment of the Global Truck-Bus Tires Market is sub-segmented into:
< 50 Kg
50 - 80 Kg
80 - 100 Kg
100 - 150 Kg
> 150Kg

By Distribution Channel segment of the Global Truck-Bus Tires Market is sub-segmented into:
OEM
Aftermarket
Brand Stores
Independent Tire dealers
Retail Tire Chains

By Region segment of the Global Truck-Bus Tires Market is sub-segmented into:
North America
The U.S.
Canada
Mexico
Europe
The UK
Germany
France
Italy
Spain
Russia
Poland
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Argentina
Brazil
Rest of South America

Key Players Insights
The key players operating in the market include Aeolus Tyres, Bridgestone Corporation, Cheng Shin Rubber, Continental AG, Cooper Tire, Double Coin, Giti Tire, Goodyear Tire & Rubber Company, Hankook Tire & Technology Co., Ltd., Xingyuan Tire Group, Yokohama Tire Corporation and ZC Rubber among others.

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This release was published on openPR.