Truck and Bus Radial Tires Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Truck, Bus), By Sales Channel (OEM, Aftermarket), By Region, Competition, 2019-2029F

  • Industry : Automotive
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 15.78 Billion

CAGR (2024-2029)

6.07%

Fastest Growing Segment

Truck

Largest Market

North America

Market Size (2029)

USD 22.40 Billion






Market Overview

Global Truck and Bus Radial Tires Market was valued at USD 15.78 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.07% through 2029. The global market for truck and bus radial tires represents a significant segment within the broader tire industry, characterized by its specialized focus on heavy-duty vehicles used for transportation and logistics. These tires are essential components for commercial trucks, buses, and other large vehicles due to their durability, load-bearing capacity, and long-term performance under varied road conditions.

Truck and bus radial tires are designed to withstand the substantial wear and tear associated with frequent long-distance travel and heavy cargo loads. They typically feature reinforced steel belts under the tread for added strength and stability, making them suitable for both highway and off-road use. The market for these tires is driven primarily by the demand from the transportation and logistics sectors, which rely heavily on reliable and efficient tire performance to ensure operational efficiency and safety.

In recent years, advancements in tire technology have contributed to improvements in fuel efficiency and overall vehicle performance, which are significant considerations for fleet operators seeking to optimize operating costs and comply with environmental regulations. Manufacturers continue to innovate in materials and design to enhance tire lifespan, reduce rolling resistance, and improve traction, thereby meeting the evolving needs of the commercial vehicle market.

The global market for truck and bus radial tires is influenced by factors such as economic growth, infrastructure development, and trends in the automotive industry. Emerging markets, in particular, are experiencing robust demand due to expanding transportation networks and increasing industrialization. Conversely, mature markets focus more on replacement demand, driven by the aging of existing vehicle fleets.

Sustainability concerns are also shaping the market landscape, with manufacturers increasingly focusing on developing eco-friendly tire options that reduce carbon emissions and promote circular economy principles through tire recycling and retreading programs.

The truck and bus radial tires market is dynamic and competitive, characterized by continuous innovation and strategic partnerships across the supply chain. As the global economy evolves and transportation needs expand, the demand for high-performance, durable tires capable of meeting stringent operational requirements is expected to remain strong, supporting ongoing growth and development within the industry. 

Key Market Drivers  

Rising Demand for Commercial Vehicles

A fundamental driver for the Truck and Bus Radial Tires Market is the continually increasing demand for commercial vehicles globally. As economies expand, urbanization accelerates, and e-commerce flourishes, the need for efficient transportation of goods and passengers rises. This demand is particularly pronounced in emerging markets where infrastructural development and increased economic activities drive the sales of trucks and buses.

Commercial vehicles, including trucks and buses, are the backbone of logistics and passenger transportation networks. The robust demand for these vehicles directly translates into a heightened requirement for reliable and high-performance tires. Radial tires, known for their durability, fuel efficiency, and enhanced grip on the road, become the tire of choice for commercial fleet operators seeking to optimize the performance of their vehicles.

Focus on Fuel Efficiency and Operational Cost Reduction

The emphasis on fuel efficiency and operational cost reduction within the commercial vehicle sector is a significant driver for the adoption of radial tires. Fuel costs constitute a substantial portion of the operational expenses for fleet operators, making fuel efficiency a top priority. Radial tires, characterized by their construction with reinforcing belts running radially across the tire, offer lower rolling resistance compared to bias-ply tires.

Lower rolling resistance contributes to improved fuel efficiency, enabling commercial vehicles to cover more distance with less fuel consumption. As environmental regulations become more stringent and fleet operators seek to minimize their carbon footprint, the fuel efficiency benefits of radial tires become even more critical. The Global Truck and Bus Radial Tires Market responds to this driver by providing solutions that help fleet operators achieve cost savings and environmental sustainability.

Safety and Performance Considerations

Safety is a paramount concern in the commercial vehicle industry, and tire performance plays a crucial role in ensuring the safety of trucks and buses on the road. Radial tires are renowned for their superior handling characteristics, stability, and traction, especially at high speeds. These attributes enhance the overall safety of commercial vehicles, providing better control and reducing the risk of accidents.

The Global Truck and Bus Radial Tires Market aligns with the industry's commitment to safety by offering products that meet stringent performance standards. Radial tires provide stability during braking, cornering, and sudden maneuvers, enhancing the overall handling of commercial vehicles. As safety regulations become more rigorous, fleet operators prioritize radial tires to ensure the well-being of drivers, passengers, and the goods being transported.

Technological Advancements in Tire Design and Manufacturing

Ongoing technological advancements in tire design and manufacturing contribute significantly to the growth of the Truck and Bus Radial Tires Market. Innovations in tire compounds, tread patterns, and construction techniques aim to enhance the durability, longevity, and performance of radial tires. Manufacturers invest in research and development to introduce new materials and technologies that address the specific requirements of commercial vehicles.

Advanced tire technologies, such as silica-based compounds for improved wet traction and wear resistance, contribute to the overall performance of radial tires. Additionally, innovations in tread design optimize traction on various road surfaces, providing commercial vehicles with versatility in different operating conditions. The integration of smart tire technologies, including tire pressure monitoring systems (TPMS), further enhances safety and operational efficiency in the commercial vehicle segment.

Expansion of E-commerce and Last-Mile Delivery Services

The rapid expansion of e-commerce and the increasing prominence of last-mile delivery services are key drivers shaping the Truck and Bus Radial Tires Market. The shift in consumer behavior towards online shopping has led to a surge in the demand for efficient and timely transportation of goods. Last-mile delivery vehicles, in particular, operate in urban environments with frequent stops and starts, placing unique demands on tires.

Radial tires, with their ability to provide better traction, handling, and durability, are well-suited for the challenges of last-mile delivery. As e-commerce continues to grow and logistics companies invest in modernizing their fleets, the demand for radial tires tailored to the specific needs of delivery vehicles is on the rise. This trend is further accentuated by the increasing focus on sustainability in urban logistics, where radial tires contribute to fuel efficiency and reduced emissions.

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Key Market Challenges

Economic Volatility and Market Uncertainty

The Global Truck and Bus Radial Tires Market is susceptible to economic volatility and market uncertainties, which can significantly impact demand and supply dynamics. Fluctuations in economic conditions, such as recessions, geopolitical tensions, or unexpected events like the global pandemic, can disrupt the commercial vehicle industry. During economic downturns, businesses may reduce fleet expansion or defer tire replacements to cut costs, leading to decreased demand for radial tires.

Market uncertainties can also affect raw material prices and supply chain stability. The tire industry relies on various raw materials, including natural rubber, synthetic rubber, and other chemicals. Price fluctuations in these materials can impact manufacturing costs and profit margins for tire manufacturers. Additionally, geopolitical factors and trade tensions can disrupt the supply chain, affecting the availability of critical materials and components, thereby challenging the smooth functioning of the Truck and Bus Radial Tires Market.

Regulatory Compliance and Changing Standards

The regulatory landscape, including safety and environmental standards, poses a significant challenge to the Global Truck and Bus Radial Tires Market. Governments worldwide are increasingly implementing stringent regulations related to tire performance, labeling, and environmental impact. Meeting these evolving standards requires continuous investments in research and development to develop tires that not only meet safety requirements but also address environmental concerns.

Compliance with tire labeling standards, which include providing information on fuel efficiency, wet grip, and noise levels, adds complexity to tire manufacturing. Additionally, environmental regulations may demand the reduction of tire-related emissions, driving the need for eco-friendly materials and sustainable manufacturing processes. Navigating the intricacies of compliance, staying abreast of changing standards, and implementing necessary adjustments in tire design and manufacturing processes pose a challenge to industry participants.

Intense Market Competition and Pricing Pressures

The Global Truck and Bus Radial Tires Market operates in an intensely competitive environment with numerous players vying for market share. The presence of both established tire manufacturers and emerging players intensifies competition, leading to pricing pressures. Fleet operators, often focused on minimizing operational costs, exert pressure on tire prices, seeking cost-effective solutions without compromising quality.

Intense market competition necessitates continuous innovation to differentiate products and maintain a competitive edge. Tire manufacturers must invest in research and development to introduce features that enhance tire performance, durability, and fuel efficiency. Balancing the need for innovation with competitive pricing becomes a challenge, as manufacturers strive to meet the demands of fleet operators while ensuring profitability in a fiercely competitive market. 

In September 2022, Bridgestone revealed plans to raise prices by as much as 15% on certain tires sold in the U.S. and Canada, starting October 1. This increase applies to a range of products including consumer, commercial, truck and bus radial (TBR), and off-the-road (OTR) tires, as Bridgestone adjusts to current market conditions. The company's sales teams are contacting customers directly to discuss the specifics of these adjustments at various product levels.

Rapid Technological Advancements and Tire Complexity

While technological advancements drive innovation in the Truck and Bus Radial Tires Market, they also present a challenge in terms of increased tire complexity. Advanced tire technologies, such as smart tire sensors, self-inflating tires, and customized tire solutions for specific applications, contribute to enhanced performance and safety. However, these technological advancements introduce complexities in tire design, manufacturing, and maintenance.

Tire complexity can pose challenges for fleet operators in terms of understanding and managing the diverse features and specifications of radial tires. Additionally, the need for specialized knowledge in the maintenance and repair of technologically advanced tires can increase operational costs for fleet operators. Striking a balance between leveraging technological advancements for improved tire performance and managing the associated complexities presents a challenge for both manufacturers and end-users in the market.

Environmental Concerns and Sustainability

The Global Truck and Bus Radial Tires Market faces increasing scrutiny regarding its environmental impact, requiring tire manufacturers to address concerns related to sustainability and recyclability. The tire industry, reliant on raw materials such as rubber and chemicals, faces challenges associated with deforestation, habitat destruction, and the carbon footprint of tire production.

Tire disposal and end-of-life management also pose environmental challenges. The recycling of tires, while making progress, is not universally standardized, leading to concerns about the environmental impact of tire waste. The industry is under pressure to adopt sustainable practices, explore eco-friendly materials, and develop tire designs that minimize environmental harm throughout the lifecycle. Meeting these environmental challenges requires tire manufacturers to invest in research and development for greener alternatives, recycling initiatives, and environmentally responsible manufacturing processes.

Key Market Trends

Rise of Smart Tire Technologies

One of the prominent trends in the Truck and Bus Radial Tires Market is the increasing integration of smart tire technologies. Smart tire sensors, embedded within the tire structure, enable real-time monitoring of crucial parameters such as tire pressure, temperature, and tread wear. These sensors provide fleet operators with valuable data to optimize tire maintenance schedules, enhance fuel efficiency, and prevent premature tire failures.

The adoption of smart tire technologies contributes to improved safety by detecting potential issues before they lead to tire failures. Advanced systems can alert drivers and fleet managers to deviations in tire pressure or abnormal temperature, allowing for timely interventions. Additionally, the data collected by smart tire sensors can be leveraged for predictive maintenance, reducing downtime and extending the lifespan of truck and bus radial tires.

Focus on Fuel Efficiency and Low Rolling Resistance

The emphasis on fuel efficiency and reduced carbon emissions is a significant trend influencing the design and manufacturing of truck and bus radial tires. With environmental sustainability becoming a key consideration in the commercial vehicle industry, tire manufacturers are prioritizing technologies that minimize rolling resistance. Low rolling resistance tires are designed to reduce the energy required for a tire to roll, resulting in improved fuel efficiency.

The adoption of low rolling resistance technologies aligns with regulatory standards aimed at curbing emissions from commercial vehicles. Fleet operators, conscious of the impact of fuel costs on their operational expenses, increasingly prioritize fuel-efficient tires. The trend towards low rolling resistance in truck and bus radial tires reflects the industry's commitment to environmental responsibility and the pursuit of cost-effective and sustainable transportation solutions.

Customization for Specific Applications

The Truck and Bus Radial Tires Market is witnessing a trend towards customization, with tire manufacturers developing products tailored to specific applications and operating conditions. Commercial vehicles operate in diverse environments, from long-haul freight transportation to urban delivery services and off-road applications. Tires designed for specific use cases, such as long-distance highway driving or urban stop-and-go traffic, optimize performance and longevity.

Customization involves adapting tire designs, tread patterns, and compounds to meet the unique challenges posed by different applications. For example, tires designed for urban delivery vehicles may prioritize durability and resistance to curb damage, while long-haul tires may focus on maximizing fuel efficiency and tread life. This trend recognizes the diverse needs of fleet operators and aims to provide specialized solutions that enhance overall operational efficiency.

Advancements in Tire Materials and Construction

Ongoing advancements in tire materials and construction techniques are shaping the Truck and Bus Radial Tires Market. Tire manufacturers are exploring innovative materials and manufacturing processes to enhance the durability, performance, and safety of radial tires. High-tech materials, such as silica-based compounds, contribute to improved wet traction, tread wear resistance, and overall tire performance.

Additionally, advancements in tire construction involve optimizing the internal components of the tire, including belts and carcass structure. This optimization enhances the strength and flexibility of radial tires, allowing for better load-carrying capacity and stability. The continuous evolution of materials and construction techniques reflects the tire industry's commitment to pushing the boundaries of innovation and delivering products that meet the evolving demands of the commercial vehicle sector. 

In October 2022, Hankook launched its first truck and bus radial tire under the iON brand. The Smart iON AU06+ was introduced as Hankook's inaugural TBR in the iON lineup, specifically designed for high-end electric vehicles in South Korea. This tire incorporates Hankook's EV technology to boost fuel efficiency, improve torque response, and accommodate heavier loads typical of electric vehicles.

Growing Interest in Retreading Solutions

The adoption of retreading solutions for truck and bus radial tires is gaining traction as a cost-effective and sustainable alternative. Retreading involves replacing the tread of a worn tire with a new layer, extending the tire's life and reducing the environmental impact of tire disposal. Retreaded tires offer a more affordable option for fleet operators, providing comparable performance to new tires at a lower cost.

As sustainability becomes a central theme in the commercial vehicle industry, retreading aligns with circular economy principles by minimizing waste and maximizing resource efficiency. Manufacturers are investing in advanced retreading technologies to ensure the quality and safety of retreaded truck and bus radial tires. The trend towards retreading solutions reflects a holistic approach to tire lifecycle management, emphasizing both economic and environmental considerations.

Segmental Insights

Sales Channel Analysis

The global market for truck and bus radial tires is distinguished by its segmentation based on sales channels, primarily OEM (Original Equipment Manufacturer) and aftermarket. These two channels represent distinct avenues through which these specialized tires reach end-users, each serving unique purposes within the broader supply chain of the automotive industry.

OEM sales channel caters directly to manufacturers of trucks and buses, supplying tires that are integrated into vehicles during the manufacturing process. This segment is characterized by large-scale contracts between tire manufacturers and vehicle assembly plants, ensuring a steady flow of products tailored to specific vehicle models and specifications. OEM sales are driven by the production cycles of the automotive industry, influenced by factors such as vehicle demand, manufacturing trends, and technological advancements in tire design.

Conversely, the aftermarket segment of truck and bus radial tires pertains to sales occurring after vehicles have been sold and are in use by customers. This channel encompasses replacement tires needed due to wear and tear, damage, or upgrades desired by vehicle owners. The aftermarket is characterized by a more diverse and fragmented customer base, including individual vehicle owners, fleet operators, and maintenance and repair services. Distribution channels in the aftermarket often involve tire retailers, automotive parts stores, and online platforms, catering to varying consumer needs and preferences.

Market dynamics within each sales channel are influenced by factors such as economic conditions, regulatory changes, technological innovations in tire manufacturing, and shifts in consumer preferences towards durability, performance, and environmental sustainability. OEM sales tend to be more stable and predictable, driven by long-term contracts and strategic partnerships between tire manufacturers and vehicle OEMs. In contrast, the aftermarket is more sensitive to immediate market conditions, including fluctuations in tire prices, availability of compatible products, and changes in vehicle usage patterns.

The segmentation by sales channels reflects the strategic decisions made by tire manufacturers to optimize production capacities, distribution networks, and marketing efforts. While OEM sales ensure a steady revenue stream and brand visibility through association with vehicle manufacturers, the aftermarket offers opportunities for higher margins and flexible product offerings tailored to diverse customer needs. Both channels play crucial roles in sustaining the overall market for truck and bus radial tires, contributing to the resilience and adaptability of tire manufacturers in responding to dynamic market conditions and evolving customer demands.


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Regional Insights

The global market for truck and bus radial tires exhibits a diverse landscape across various regions, each contributing uniquely to the industry's dynamics. North America, known for its robust automotive sector, plays a significant role in the truck and bus radial tires market. The region benefits from a mature transportation infrastructure and a high demand for commercial vehicles, driven by industries such as logistics, construction, and public transportation. Regulatory standards and a preference for high-quality tires ensure a steady market for both replacement and original equipment segments.

In Europe & CIS, the truck and bus radial tires market reflects a blend of advanced technology and stringent regulatory requirements. The region boasts a sophisticated automotive industry with a focus on sustainability and efficiency. Market growth is influenced by factors such as increasing fleet sizes, rising urbanization, and government initiatives promoting cleaner transport solutions. Additionally, the presence of leading tire manufacturers and a well-established distribution network further bolster market expansion across diverse geographical landscapes.

Asia-Pacific emerges as the largest market and a powerhouse in the global truck and bus radial tires market, driven by rapid industrialization and urbanization in countries like China and India. These nations are witnessing substantial investments in infrastructure development, boosting the demand for commercial vehicles and consequently, radial tires. Moreover, the region benefits from a large manufacturing base for tires, leveraging economies of scale and competitive pricing. Factors such as growing disposable incomes, expanding middle-class population, and evolving transport logistics contribute to the region's market growth trajectory.

South America presents a developing market scenario for truck and bus radial tires, characterized by diverse economic conditions across different countries. Brazil, for instance, stands out with its significant automotive sector and agricultural activities driving demand for commercial vehicles. The market dynamics are influenced by factors such as currency fluctuations, trade policies, and infrastructural investments. Despite challenges related to economic volatility, the region showcases potential growth opportunities, especially with increasing urbanization and infrastructure projects.

In the Middle East & Africa, the truck and bus radial tires market reflects varying degrees of development across different countries. Infrastructure investments in countries like Saudi Arabia and UAE drive demand for commercial vehicles, thereby stimulating tire market growth. The region also experiences unique challenges such as harsh operating conditions and regulatory frameworks that impact tire performance and longevity. Nevertheless, efforts towards modernization and economic diversification initiatives contribute to the market's gradual expansion in this region.

Recent Development

  • In November 2023, Turbo Wholesale Tires announced new partnerships and initiatives in the tire industry. They teamed up with Double Coin to produce a complete line of RBP truck tires, entered into a distribution agreement with Vogue Tyres, and introduced dealer incentives for the Lexani Ignite program. Turbo's collaboration with CMA involves Double Coin manufacturing a full range of TBR tires under Turbo's Rolling Big Power brand, offering 40 different sizes with a three-retread warranty and workmanship guarantee covering the initial 50% of tread life. Shipments of these tires are scheduled to begin in early 2024.
  • In July 2024, Bahwan Motors introduced the Accelus premium tire brand in the UAE. This launch signifies BMAA's expansion into offering top-tier truck and bus radial tires in the region, in collaboration with Ralson India Limited. The move underscores BMAA's commitment to enhancing its automotive product offerings, including tires, lubricants, and batteries, within the UAE market.

Key Market Players

  • Apollo Tyres Ltd
  • Balkrishna Industries Limited
  • Bridgestone Corporation
  • China National Tire & Rubber Co., Ltd.
  • Continental AG
  • Giti Tire Pte Ltd.
  • The Goodyear Tire & Rubber Company
  • Hankook Tire & Technology Co. Ltd.
  • Kumho Tire Co., Inc.
  • Pirelli & C. S.p.A.


By Application

By Sales Channel

By Region
  • Truck
  • Bus
  • OEM
  • Aftermarket
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Truck and Bus Radial Tires Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Truck and Bus Radial Tires Market, By Application:

o   Truck

o   Bus

  • Truck and Bus Radial Tires Market, By Sales Channel:

o   OEM

o   Aftermarket

  • Truck and Bus Radial Tires Market, By Region:

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  South Korea

§  Australia

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   North America

§  United States

§  Canada

§  Mexico

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Turkey

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Truck and Bus Radial Tires Market.

Available Customizations:

Global Truck and Bus Radial Tires Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Truck and Bus Radial Tires Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Truck and Bus Radial Tires Market

5.    Global Truck and Bus Radial Tires Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Application Market Share Analysis (Truck, Bus)

5.2.2.    By Sales Channel Market Share Analysis (OEM, Aftermarket)

5.2.3.    By Regional Market Share Analysis    

5.2.3.1.        Asia-Pacific Market Share Analysis

5.2.3.2.        Europe & CIS Market Share Analysis

5.2.3.3.        North America Market Share Analysis

5.2.3.4.        South America Market Share Analysis

5.2.3.5.        Middle East & Africa Market Share Analysis

5.2.4.    By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2023)

5.3.  Global Truck and Bus Radial Tires Market Mapping & Opportunity Assessment

5.3.1.    By Application Market Mapping & Opportunity Assessment

5.3.2.    By Sales Channel Market Mapping & Opportunity Assessment

5.3.3.    By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Truck and Bus Radial Tires Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value  

6.2.  Market Share & Forecast

6.2.1.    By Application Market Share Analysis

6.2.2.    By Sales Channel Market Share Analysis

6.2.3.    By Country Market Share Analysis

6.2.3.1.        China Market Share Analysis

6.2.3.2.        India Market Share Analysis

6.2.3.3.        Japan Market Share Analysis

6.2.3.4.        Indonesia Market Share Analysis

6.2.3.5.        Thailand Market Share Analysis

6.2.3.6.        South Korea Market Share Analysis

6.2.3.7.        Australia Market Share Analysis

6.2.3.8.        Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.    China Truck and Bus Radial Tires Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value  

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Application Market Share Analysis

6.3.1.2.2.           By Sales Channel Market Share Analysis

6.3.2.    India Truck and Bus Radial Tires Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value  

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Application Market Share Analysis

6.3.2.2.2.           By Sales Channel Market Share Analysis

6.3.3.    Japan Truck and Bus Radial Tires Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value  

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Application Market Share Analysis

6.3.3.2.2.           By Sales Channel Market Share Analysis

6.3.4.    Indonesia Truck and Bus Radial Tires Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value  

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Application Market Share Analysis

6.3.4.2.2.           By Sales Channel Market Share Analysis

6.3.5.    Thailand Truck and Bus Radial Tires Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value  

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Application Market Share Analysis

6.3.5.2.2.           By Sales Channel Market Share Analysis

6.3.6.    South Korea Truck and Bus Radial Tires Market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.           By Value  

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.           By Application Market Share Analysis

6.3.6.2.2.           By Sales Channel Market Share Analysis

6.3.7.    Australia Truck and Bus Radial Tires Market Outlook

6.3.7.1.        Market Size & Forecast

6.3.7.1.1.           By Value  

6.3.7.2.        Market Share & Forecast

6.3.7.2.1.           By Application Market Share Analysis

6.3.7.2.2.           By Sales Channel Market Share Analysis

7.    Europe & CIS Truck and Bus Radial Tires Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value  

7.2.  Market Share & Forecast

7.2.1.    By Application Market Share Analysis

7.2.2.    By Sales Channel Market Share Analysis

7.2.3.    By Country Market Share Analysis

7.2.3.1.        Germany Market Share Analysis

7.2.3.2.        Spain Market Share Analysis

7.2.3.3.        France Market Share Analysis

7.2.3.4.        Russia Market Share Analysis

7.2.3.5.        Italy Market Share Analysis

7.2.3.6.        United Kingdom Market Share Analysis

7.2.3.7.        Belgium Market Share Analysis

7.2.3.8.        Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.    Germany Truck and Bus Radial Tires Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value  

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Application Market Share Analysis

7.3.1.2.2.           By Sales Channel Market Share Analysis

7.3.2.    Spain Truck and Bus Radial Tires Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value  

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Application Market Share Analysis

7.3.2.2.2.           By Sales Channel Market Share Analysis

7.3.3.    France Truck and Bus Radial Tires Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value  

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Application Market Share Analysis

7.3.3.2.2.           By Sales Channel Market Share Analysis

7.3.4.    Russia Truck and Bus Radial Tires Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value  

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Application Market Share Analysis

7.3.4.2.2.           By Sales Channel Market Share Analysis

7.3.5.    Italy Truck and Bus Radial Tires Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value  

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Application Market Share Analysis

7.3.5.2.2.           By Sales Channel Market Share Analysis

7.3.6.    United Kingdom Truck and Bus Radial Tires Market Outlook

7.3.6.1.        Market Size & Forecast

7.3.6.1.1.           By Value  

7.3.6.2.        Market Share & Forecast

7.3.6.2.1.           By Application Market Share Analysis

7.3.6.2.2.           By Sales Channel Market Share Analysis

7.3.7.    Belgium Truck and Bus Radial Tires Market Outlook

7.3.7.1.        Market Size & Forecast

7.3.7.1.1.           By Value  

7.3.7.2.        Market Share & Forecast

7.3.7.2.1.           By Application Market Share Analysis

7.3.7.2.2.           By Sales Channel Market Share Analysis

8.    North America Truck and Bus Radial Tires Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value  

8.2.  Market Share & Forecast

8.2.1.    By Application Market Share Analysis

8.2.2.    By Sales Channel Market Share Analysis

8.2.3.    By Country Market Share Analysis

8.2.3.1.        United States Market Share Analysis

8.2.3.2.        Mexico Market Share Analysis

8.2.3.3.        Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.    United States Truck and Bus Radial Tires Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value  

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Application Market Share Analysis

8.3.1.2.2.           By Sales Channel Market Share Analysis

8.3.2.    Mexico Truck and Bus Radial Tires Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value  

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Application Market Share Analysis

8.3.2.2.2.           By Sales Channel Market Share Analysis

8.3.3.    Canada Truck and Bus Radial Tires Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value  

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Application Market Share Analysis

8.3.3.2.2.           By Sales Channel Market Share Analysis

9.    South America Truck and Bus Radial Tires Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value  

9.2.  Market Share & Forecast

9.2.1.    By Application Market Share Analysis

9.2.2.    By Sales Channel Market Share Analysis

9.2.3.    By Country Market Share Analysis

9.2.3.1.        Brazil Market Share Analysis

9.2.3.2.        Argentina Market Share Analysis

9.2.3.3.        Colombia Market Share Analysis

9.2.3.4.        Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.    Brazil Truck and Bus Radial Tires Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value  

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Application Market Share Analysis

9.3.1.2.2.           By Sales Channel Market Share Analysis

9.3.2.    Colombia Truck and Bus Radial Tires Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value  

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Application Market Share Analysis

9.3.2.2.2.           By Sales Channel Market Share Analysis

9.3.3.    Argentina Truck and Bus Radial Tires Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value  

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Application Market Share Analysis

9.3.3.2.2.           By Sales Channel Market Share Analysis

10.  Middle East & Africa Truck and Bus Radial Tires Market Outlook

10.1.            Market Size & Forecast

10.1.1. By Value   

10.2.            Market Share & Forecast

10.2.1. By Application Market Share Analysis

10.2.2. By Sales Channel Market Share Analysis

10.2.3. By Country Market Share Analysis

10.2.3.1.     South Africa Market Share Analysis

10.2.3.2.     Turkey Market Share Analysis

10.2.3.3.     Saudi Arabia Market Share Analysis

10.2.3.4.     UAE Market Share Analysis

10.2.3.5.     Rest of Middle East & Africa Market Share Analysis

10.3.            Middle East & Africa: Country Analysis

10.3.1. South Africa Truck and Bus Radial Tires Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value  

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Application Market Share Analysis

10.3.1.2.2.         By Sales Channel Market Share Analysis

10.3.2. Turkey Truck and Bus Radial Tires Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value  

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Application Market Share Analysis

10.3.2.2.2.         By Sales Channel Market Share Analysis

10.3.3. Saudi Arabia Truck and Bus Radial Tires Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value  

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Application Market Share Analysis

10.3.3.2.2.         By Sales Channel Market Share Analysis

10.3.4. UAE Truck and Bus Radial Tires Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value  

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Application Market Share Analysis

10.3.4.2.2.         By Sales Channel Market Share Analysis

11.  SWOT Analysis

11.1.            Strength

11.2.            Weakness

11.3.            Opportunities

11.4.            Threats

12.  Market Dynamics

12.1.            Market Drivers

12.2.            Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.            Company Profiles (Up to 10 Major Companies)

14.1.1. Apollo Tyres Ltd

14.1.1.1.     Company Details

14.1.1.2.     Key Product Offered

14.1.1.3.     Financials (As Per Availability)

14.1.1.4.     Recent Developments

14.1.1.5.     Key Management Personnel

14.1.2. Balkrishna Industries Limited

14.1.2.1.     Company Details

14.1.2.2.     Key Product Offered

14.1.2.3.     Financials (As Per Availability)

14.1.2.4.     Recent Developments

14.1.2.5.     Key Management Personnel

14.1.3. Bridgestone Corporation

14.1.3.1.     Company Details

14.1.3.2.     Key Product Offered

14.1.3.3.     Financials (As Per Availability)

14.1.3.4.     Recent Developments

14.1.3.5.     Key Management Personnel

14.1.4. China National Tire & Rubber Co., Ltd.

14.1.4.1.     Company Details

14.1.4.2.     Key Product Offered

14.1.4.3.     Financials (As Per Availability)

14.1.4.4.     Recent Developments

14.1.4.5.     Key Management Personnel

14.1.5. Continental AG

14.1.5.1.     Company Details

14.1.5.2.     Key Product Offered

14.1.5.3.     Financials (As Per Availability)

14.1.5.4.     Recent Developments

14.1.5.5.     Key Management Personnel

14.1.6. Giti Tire Pte Ltd.

14.1.6.1.     Company Details

14.1.6.2.     Key Product Offered

14.1.6.3.     Financials (As Per Availability)

14.1.6.4.     Recent Developments

14.1.6.5.     Key Management Personnel

14.1.7. The Goodyear Tire & Rubber Company

14.1.7.1.     Company Details

14.1.7.2.     Key Product Offered

14.1.7.3.     Financials (As Per Availability)

14.1.7.4.     Recent Developments

14.1.7.5.     Key Management Personnel

14.1.8. Hankook Tire & Technology Co. Ltd.

14.1.8.1.     Company Details

14.1.8.2.     Key Product Offered

14.1.8.3.     Financials (As Per Availability)

14.1.8.4.     Recent Developments

14.1.8.5.     Key Management Personnel

14.1.9. Kumho Tire Co., Inc.

14.1.9.1.     Company Details

14.1.9.2.     Key Product Offered

14.1.9.3.     Financials (As Per Availability)

14.1.9.4.     Recent Developments

14.1.9.5.     Key Management Personnel

14.1.10.   Pirelli & C. S.p.A.

14.1.10.1.  Company Details

14.1.10.2.  Key Product Offered

14.1.10.3.  Financials (As Per Availability)

14.1.10.4.  Recent Developments

14.1.10.5.  Key Management Personnel

15.  Strategic Recommendations

15.1.            Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Application

15.1.3. Target Sales Channel

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Truck and Bus Radial Tires Market was estimated to be USD 15.78 Billion in 2023.

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In 2023, the Fastest Growing segment by application in the Global Truck and Bus Radial Tires Market was the Truck segment. This segment outpaced the Bus segment in terms of demand and sales, driven by a higher global truck fleet and increased investments in logistics and transportation industries.

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In the global market for truck and bus radial tires, the North America region currently holds the largest market position. This can be attributed to several factors such as high vehicle production and sales rates, increased freight and logistics activities, and the presence of several key tire manufacturers in this region.

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The Global Truck and Bus Radial Tires Market is propelled by increasing demand for commercial vehicles worldwide and a focus on fuel efficiency, safety, and durability, driving the adoption of radial tires in the truck and bus segment.

Related Reports

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Srishti Verma

Business Consultant
Press Release

Truck and Bus Radial Tires Market to Grow with a CAGR of 6.07% Globally through 2029

Jul, 2024

Advancements in tire technology, increasing demand for fuel efficiency, and growth in the logistics sector are the factors driving the global truck and bus radial tires market in the forecast period

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