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Global Truck And Bus Tires Market Report 2023 - Size, Share, Trends, Competitive Analysis, Types, Applications And Outlook 2032
Truck And Bus Tires Market
Truck And Bus Tires Market Size, Growth Rate, And Forecast
The global truck and bus tires market size is expected to grow from $42.43 billion in 2022 to $43.93 billion in 2023 at a compound annual growth rate (CAGR) of 3.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global truck and bus tires market size is expected to grow to $49.88 billion in 2027 at a CAGR of 3.2%.
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Truck And Bus Tires Market Drivers
An increase in demand for commercial vehicles is expected to propel the truck and bus tires market going forward. Commercial vehicles refer to motor vehicle that transports goods or passengers for business purposes. Commercial vehicles use truck and bus tires as they offer good traction at various speeds and weather conditions with high load-carrying capacity and low rolling resistance.
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Truck And Bus Tires Market Segments
• By Type: Radial, Bias
• By Vehicle Type: Light Duty Vehicle, Heavy Duty Vehicle, Passenger Bus Vehicle
• By Distribution Channel: OEM (Original Equipment Manufacturer), Aftermarket
• By Application: Truck Tire, Bus Tire
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Truck And Bus Tires market.
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Truck And Bus Tires Market Key Players
Major competitors in the Truck And Bus Tires market include Bridgestone Corporation, Michelin Group, Goodyear Tire & Rubber Company, Continental AG, Pirelli & Co SPA, Hankook Tire & Technology, Sumitomo Rubber Industries Ltd.
The Business Research Company's "Global Truck And Bus Tires Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Truck And Bus Tires Market Include:
1. Executive Summary
2. Truck And Bus Tires Market Characteristics
3. Truck And Bus Tires Market Trends And Strategies
4. Truck And Bus Tires Market - Macro Economic Scenario
5. Truck And Bus Tires Market Size And Growth
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26. Africa Truck And Bus Tires Market
27. Truck And Bus Tires Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Truck And Bus Tires Market
29. Truck And Bus Tires Market Future Outlook and Potential Analysis
30. Appendix
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