The global Truck and Bus Tires market was valued at US$ 41220 million in 2019 and it is expected to reach US$ 45800 million by the end of 2026, growing at a CAGR of 1.5% during 2021-2026.
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.
Global Truck and Bus Tires Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Truck and Bus Tires Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are 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, Kukho Tire, Toyo Tires and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
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
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%.
Table of Content:
1 Truck and Bus Tires Market Overview
2 Truck and Bus Tires Market Competition by Manufacturers
3 Truck and Bus Tires Retrospective Market Scenario by Region
4 Global Truck and Bus Tires Historic Market Analysis by Type
5 Global Truck and Bus Tires Historic Market Analysis by Application
6 Key Companies Profiled
7 Truck and Bus Tires Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Truck and Bus Tires Market Dynamics
10 Global Truck and Bus Tires Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta