Comprehensive Truck And Bus Tires Market Forecast 2025-2034: Growth Trends and Strategic Shifts

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Truck And Bus Tires Market Size Valuation Forecast: What Will the Market Be Worth by 2025?_x000D_
The truck and bus tires market has shown steady growth in recent years. It is expected to increase from $45.31 billion in 2024 to $46.38 billion in 2025, recording a CAGR of 2.4%._x000D_
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Truck And Bus Tires Market Size Forecast: What's the Projected Valuation by 2029?_x000D_
The market for truck and bus tires is predicted to maintain a constant expansion in the imminent years, escalating to a valuation of $55.03 billion in 2029 at a 4.4% compound annual growth rate (CAGR). Factors expected to drive growth during the forecast period encompass the flourishing e-commerce sector and last-mile deliveries, initiatives to promote eco-friendliness and fuel efficiency, adoption of renewable energy and electric vehicles, government regulations surrounding safety and emission standards, and bounce back from financial turmoils. Major trends anticipated during this time frame include incorporation of intelligent tire monitoring systems, increasing demand for all-season tires and specialized tires, the growing preference for radial tires, emphasis on enhancing load carrying capacity and heavy-duty performance, and advancements in self-healing tire technology._x000D_
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What Are the Drivers Transforming the Truck And Bus Tires Market?_x000D_
The anticipated rise in commercial vehicle demand is predicted to drive the growth of the truck and bus tire market. Commercial vehicles, which carry goods or passengers for business-related needs, rely on truck and bus tires due to their excellent traction under varying speeds and weather conditions, their superior load-bearing capacity, and reduced rolling resistance. A case in point is Daimler Truck Holding AG, a Germany-based commercial vehicles manufacturer, which reported in January 2024 that it saw a modest increase in total sales of trucks and buses to 526,053 in 2023, up from 520,291 in 2022. The Trucks North America division sold 195,014 units, whereas the Trucks Asia division recorded 161,171 units, a 3% rise from the previous year. Sales performance was also strong for Daimler Buses, with 26,168 units sold, a gain of 9% year-on-year. Consequently, the burgeoning demand for commercial vehicles is stimulating growth in the truck and bus tire market._x000D_
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What Long-Term Trends Will Define the Future of the Truck And Bus Tires Market? _x000D_
The surge in product innovation is a significant trend being observed in the truck and bus tires industry. To fortify their market presence, primary companies in this sector are channeling their efforts into creating ground-breaking products. For instance, as recently as October 2022, Hankook Tire & Technology, an innovative and high-tech performance tires manufacturer based in South Korea, unveiled the Smart iON AU06+, a fresh truck and bus radial (TBR) tire specifically designed for electric vehicles (EVs). This tire enhances fuel efficiency, supports high load, and responds quickly to torque. Moreover, compared to standard tires, this new advancement boosts the vehicle's mileage by 25%. It also enhances riding experience by ensuring optimal comfort, reducing noise, and featuring a cooling system to manage overheating issues._x000D_
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Which Segments in the Truck And Bus Tires Market Offer the Most Profit Potential?_x000D_
The truck and bus tires market covered in this report is segmented - _x000D_
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1) By Type: Radial, Bias_x000D_
2) By Vehicle Type: Light Duty Vehicle, Heavy Duty Vehicle, Passenger Bus Vehicle_x000D_
3) By Distribution Channel: OEM (Original Equipment Manufacturer), Aftermarket_x000D_
4) By Application: Truck Tire, Bus Tire_x000D_
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Subsegments:_x000D_
1) By Radial: Truck Radial Tires, Bus Radial Tires _x000D_
2) By Bias: Truck Bias Tires, Bus Bias Tires_x000D_
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Which Firms Dominate the Truck And Bus Tires Market by Market Share and Revenue in 2025?_x000D_
Major companies operating in the truck and bus tires market include Continental AG, Michelin Group, Bridgestone Corporation, Goodyear Tire & Rubber Company, Sumitomo Rubber Industries Ltd., Hankook Tire & Technology, Pirelli & Co SPA, Yokohama Tire Corporation, Zhongce Rubber Group Company Limited, Hangzhou Zhongce Rubber Co Ltd., Trelleborg AB, Toyo Tire Corporation, Sailun Group, Giti Tire Corporation, Kumho Tire, Cooper Tire & Rubber Company, Linglong Tire Co Ltd., Apollo Tyres Limited, Nokian Tyres Plc., Nexen Tire Corporation, Double Coin Holdings Ltd., JK Tyre & Industries Ltd., Ceat Ltd., Prometeon Tyre Group, Aeolus Tyres, MAXXIS International, Falken Tire Corporation, Hercules Tire & Rubber Company, Triangle Group, Shandong Hengfeng Rubber & Plastic Co Ltd., Xingyuan Tire Group Co Ltd., Cordiant Company, Federal Corporation, Kenda Rubber Industrial Co Ltd. _x000D_
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Which Regions Offer the Highest Growth Potential in the Truck And Bus Tires Market?_x000D_
Asia-Pacific was the largest region in the truck and bus tires market in 2024. The regions covered in the truck and bus tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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