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Global Truck and Bus Tires Market Insights and Forecast to 2031
Tire is a ring or band of rubber, either solid or hollow and inflated, or of metal, placed over the rim of a wheel to provide traction, resistance to wear, or other desirable properties.
The largest Market of truck-bus tires is Asia Pacific, with market share of about 55% in 2018, followed by Europe and North America, with market share of 18% and 16%. Recent years, the developing countries such as China, India and Brazil are playing more and more important roles in the market and investors should pay more attention to these regions.
Market Analysis and Insights: Global Truck and Bus Tires Market
The global Truck and Bus Tires market is valued at US$ 41220 million in 2019. The market size will reach US$ 45800 million by the end of 2026, growing at a CAGR of 1.5% during 2021-2026.
Global Truck and Bus Tires Scope and Segment
Truck and Bus Tires market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Truck and Bus Tires market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2016-2027.
Segment by Type
OEM Tire
Replacement Tire
Truck and Bus Tires are sold both for use on new vehicles in the OE market and as replacement tires for vehiclesin the aftermarket.The use of replacement tires accounted for 82.74% in 2018.
Segment by Application
Truck
Bus
The truck-bus tires market is mainly divided into bus and truck. The truck tires are the largest market due to the large production of trucks. In 2018, the consumption share of truck and bus tires is 92.42%, and 7.58%.
By Company
Bridgestone
Michelin
Goodyear
Continental
ZC Rubber
Sumitomo Rubber
Xingyuan Group
Linglong Tire
Hankook
Double Coin
Prometeon Tyre Group
Aeolus Tyre
Giti Tire
Cheng Shin Rubber
Yokohama
Triangle Tire Group
Sailun Group
KUMHO TIRE
Toyo Tires
Production by Region
North America
Europe
China
Japan
South Korea
India
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E
Frequently Asked Questions
Truck and Bus Tires report offers great insights of the market and consumer data and their interpretation through various figures and graphs. Report has embedded global market and regional market deep analysis through various research methodologies. The report also offers great competitor analysis of the industries and highlights the key aspect of their business like success stories, market development and growth rate.
Truck and Bus Tires report is categorised based on following features:
- Global Market Players
- Geopolitical regions
- Consumer Insights
- Technological advancement
- Historic and Future Analysis of the Market
Truck and Bus Tires report is designed on the six basic aspects of analysing the market, which covers the SWOT and SWAR analysis like strength, weakness, opportunity, threat, aspirations and results. This methodology helps investors to reach on to the desired and correct decision to put their capital into the market.
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