Pirelli to Add a New Truck Tire Brand

The renowned Italian tire maker is planning to add “Formula” truck tire brand in United States

United States: The American subsidiary of Pirelli, Pirelli Tire North America, is rolling out an all new commercial vehicle tire range under the brand name, Formula, to its truck tire portfolio for the customers based in the United States and Canada.

Pirelli would sell its new tire range with the assistance of TP Commercial Solutions L.L.C., the marketing firm of the company, which is responsible for dealing in radial truck, agricultural and OTR tire lines by Pirelli.

TP Commercial Solutions is showcasing the range of Pirelli as well as Formula brand tires at the Mid America Trucking Show (MATS), which initiated on 25^th March, 2017 in Louisville, United States. The range of Pirelli tires have continuously been undergoing a rigorous Research & Development (R&D) and several pilot trials since the past year to test its efficiency as per the specific needs of the U.S. customers, according to Clif Armstrong, President, TP Commercial Solutions.

Among the latest products, three most advance tires would be, Pentathlon, i.e. the premium long-haul product by Pirelli, the G:85 On/Off road tire line and finally, the FH:01 Motor Coach tires for buses.

"All of these products offer best-in-class benefits for North American fleet needs" Mr. Armstrong said. "We look forward to building relationships and discussing our products' features and benefits in-depth at the show."

As per TechSci Research, the company’s decision to introduce a new truck tire range would strengthen its current tire portfolio in the country’s market. Moreover, considering the growing demand for commercial vehicle tires in the country, the company would be able to tap a major segment of specific consumers over the coming years.

According to a recent report published by TechSci Research, “United States Tire Market Forecast and Opportunities, 2021’’, demand for tires in the United States is forecast to grow at a CAGR of over 5%, in volume terms, during 2016-2021. The vehicle fleet of the country is dominated by passenger car segment, followed by light commercial vehicles, medium and heavy commercial vehicles, off-the-Road (OTR) vehicles and two-wheeler segment. As a result, the passenger car tire segment held the largest volume share in the country’s tire market in 2015, and its dominance is anticipated to continue during the forecast period as well. Leading global tire companies operating in the United States include Bridgestone, Goodyear, Michelin, Cooper, Continental, Sumitomo, Hankook, Yokohama, etc. The report also portrays huge potential of tire market in Southeast and Midwest regions of the country. The vast demand for tires from these regions can mainly be imputed to the large automobile fleet size, high population density coupled with the rapid urbanization in the area.