Commercial Vehicle Tire Market Growth, Size, Trends, Demand, Revenue, Share and Future Outlook
Commercial Vehicle Tire Market Size- By Application, By End User, By Material, By Sales Channel, By Terrain- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: AMIN2428 | Pages: 1 - 223 | Formats*: |
| Category : Automotive & Transportation | |||
Commercial Vehicle Tire Market Introduction and Overview
According to SPER Market Research, the Global Commercial Vehicle Tire Market is estimated to reach USD 50.15 billion by 2033 with a CAGR of 4.09%.
The report includes an in-depth analysis of the Global Commercial Vehicle Tire Market, including market size and trends, product mix, applications, and supplier analysis. Heavy-duty commercial vehicle used in a variety of industries have unique requirements, and commercial tyres are designed to satisfy those needs. Large commercial vehicles such as buses, tractor-trailers, and delivery trucks frequently have these tyres on them. These are designed to endure the rigours of frequent stops, long distance driving, and bad roads. Light truck tyres are made for pickup trucks, lighter trailers, and smaller vehicles that are employed for light-duty or personal use.
- Feb 2023: JK Tyre unveiled three brand-new off-road tyres made especially for the mining industry. With improved durability and performance, these tyres meet the off-road requirements of mining operations.
- Jan 2023: During the bauma CONEXPO India 2023, Balkrishna Industries unveiled two new off-road tyres under the EARTHMAX sub-brand.
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Market Opportunities and Challenges
Commercial vehicle tyres are in high demand as a result of the expansion of international trade, e-commerce, and urbanisation, which has raised the need for effective logistics and transportation services. The demand for effective goods transportation, expanding construction activities, and developing infrastructure also influence the market.
Global commodities markets can cause changes in the price of raw materials used in tyre production. The cost of tyres for customers is increased by these price fluctuations. Manufacturers of tyres with government laws pertaining to environmental sustainability and safety standards. This raises production costs and presents a problem for tyre producers.
Market Competitive Landscape
The market for tyres for commercial vehicles is extremely competitive, with several national and international companies vying for market share. The major players in the Global Commercial Vehicles Tires Market include: ATG Tires Private Limited, Balkrishna Industries Limited, Bridgestone Corporation, Continental AG, Goodyear Tyre and Rubber Company, Hankook Tire and Technology Group, McLaren Industries, Sumitomo Corporation, The Michelin Group, Trelleborg Corporation and others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Application, By End-User, By Material, By Sales Channel, By Terrain |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | ATG Tires Private Limited, Balkrishna Industries Limited, Bridgestone Corporation, Continental AG, Goodyear Tyre and Rubber Company, Hankook Tire and Technology Group, McLaren Industries, Sumitomo Corporation, The Michelin Group, Trelleborg Corporation and others |
COVID-19 Impact on Global Commercial Vehicle Tire Market
The market for tyres for commercial vehicles was significantly impacted by the Covid-19 outbreak. Sales of commercial vehicles and transportation-related activities decreased as a result of the lockdowns, travel restrictions, and economic downturn. Nonetheless, a recovery in the global economy and the easing of regulations are anticipated to boost the market. The market's recovery and expansion are probably going to be driven by the necessity for effective transport services as well as the rising need for last-mile deliveries and e-commerce.
Key Target Audience
- OEM
- Fleet Operators and Transportation
- Companies
- Tire Manufacturers
- Consumers
Our in-depth analysis of the Commercial Vehicle Tire Market includes the following segments:
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| By End-User: |
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| By Material: |
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| By Sales Channel: |
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| By Terrain: |
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Key Topics Covered in the Report
- Global Commercial Vehicle Tire Market Size (FY’2023-FY’2033)
- Overview of Global Commercial Vehicle Tire Market
- Segmentation of Global Commercial Vehicle Tire Market By Application (Agriculture, Construction, Mining, Transport)
- Segmentation of Global Commercial Vehicle Tire Market By End User (OEM, Aftermarket)
- Segmentation of Global Commercial Vehicle Tire Market By Material (Natural Rubber, Nylon Cord Fabric and Wire, Poly Butadiene Rubber, Styrene Butadiene Rubber)
- Segmentation of Global Commercial Vehicle Tire Market By Sales Channel (Offline, Online)
- Segmentation of Global Commercial Vehicle Tire Market By Terrain (Off-Road, On-Road)
- Statistical Snap of Global Commercial Vehicle Tire Market
- Expansion Analysis of Global Commercial Vehicle Tire Market
- Problems and Obstacles in Global Commercial Vehicle Tire Market
- Competitive Landscape in the Global Commercial Vehicle Tire Market
- Impact of COVID-19 and Demonetization on Global Commercial Vehicle Tire Market
- Details on Current Investment in Global Commercial Vehicle Tire Market
- Competitive Analysis of Global Commercial Vehicle Tire Market
- Prominent Players in the Global Commercial Vehicle Tire Market
- SWOT Analysis of Global Commercial Vehicle Tire Market
- Global Commercial Vehicle Tire Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Commercial Vehicles Tires Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape
5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Commercial Vehicle Tire Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Commercial Vehicle Tire Market
7. Global Commercial Vehicle Tire Market, By Application (USD Million)
7.1. Global Commercial Vehicle Tire Market Value Share and Forecast, By Application, 2023-20337.2. Agriculture7.3. Construction7.4. Mining7.5. Transport
8. Global Commercial Vehicle Tire Market, By End-User (USD Million)
8.1. Global Commercial Vehicle Tire Market Value Share and Forecast, By End User, 2023-20338.2. Aftermarket8.3. OEM
9. Global Commercial Vehicle Tire Market, By Material (USD Million)
9.1. Global Commercial Vehicle Tire Market Value Share and Forecast, By Material, 2023-20339.2. Natural Rubber9.3. Nylon Cord Fabric and Wire9.4. Poly Butadiene Rubber9.5. Styrene Butadiene Rubber
10. Global Commercial Vehicle Tire Market, By Sales Channel (USD Million)
10.1. Global Commercial Vehicle Tire Market Value Share and Forecast, By Sales Channel, 2023-203310.2. Offline10.3. Online
11. Global Commercial Vehicle Tire Market, By Terrain (USD Million)
11.1. Global Commercial Vehicle Tire Market Value Share and Forecast, By Terrain, 2023-203311.2. Off-Road11.3. On-Road
12. Global Commercial Vehicle Tire Market Forecast, 2019-2033 (USD Million)
12.1. Global Commercial Vehicle Tire Market Size and Market Share
13. Global Commercial Vehicle Tire Market, By Application 2019-2033 (USD Million)
13.1. Global Commercial Vehicle Tire Market Size and Market Share By Application (2019-2026)13.2. Global Commercial Vehicle Tire Market Size and Market Share By Application (2027-2033)
14. Global Commercial Vehicle Tire Market, By End-User, 2019-2033 (USD Million)
14.1. Global Commercial Vehicle Tire Market Size and Market Share By End-User (2019-2026)14.2. Global Commercial Vehicle Tire Market Size and Market Share By End-User (2027-2033)
15. Global Commercial Vehicle Tire Market, By Material, 2019-2033 (USD Million)
15.1. Global Commercial Vehicle Tire Market Size and Market Share By Material (2019-2026)15.2. Global Commercial Vehicle Tire Market Size and Market Share By Material (2027-2033)
16. Global Commercial Vehicle Tire Market, By Sales Channel, 2019-2033 (USD Million)
16.1. Global Commercial Vehicle Tire Market Size and Market Share By Sales Channel (2019-2026)16.2. Global Commercial Vehicle Tire Market Size and Market Share By Sales Channel (2027-2033)
17. Global Commercial Vehicle Tire Market, By Terrain, 2019-2033 (USD Million)
17.1. Global Commercial Vehicle Tire Market Size and Market Share By Terrain (2019-2026)17.2. Global Commercial Vehicle Tire Market Size and Market Share By Terrain (2027-2033)
18. Global Commercial Vehicle Tire Market, By Region, 2019-2033 (USD Million)
18.1. Global Commercial Vehicle Tire Market Size and Market Share By Region (2019-2026)18.2. Global Commercial Vehicle Tire Market Size and Market Share By Region (2027-2033)18.3. Asia-Pacific
18.3.1. Australia18.3.2. China18.3.3. India18.3.4. Japan18.3.5. South Korea18.3.6. Rest of Asia-Pacific
18.4. Europe
18.4.1. France18.4.2. Germany18.4.3. Italy18.4.4. Spain18.4.5. United Kingdom18.4.6. Rest of Europe
18.5. Middle East and Africa
18.5.1. Kingdom of Saudi Arabia18.5.2. United Arab Emirates18.5.3. Rest of Middle East & Africa
18.6. North America
18.6.1. Canada18.6.2. Mexico18.6.3. United States
18.7. Latin America
18.7.1. Argentina18.7.2. Brazil18.7.3. Rest of Latin America
19. Company Profile
19.1. ATG Tires Private Limited
19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments
19.2. Balkrishna Industries Limited
19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments
19.3. Bridgestone Corporation
19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments
19.4. Continental AG
19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments
19.5. Goodyear Tyre and Rubber Company
19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments
19.6. Hankook Tire and Technology Group
19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments
19.7. McLaren Industries
19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments
19.8. Sumitomo Corporation
19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments
19.9. The Michelin Group
19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments
19.10. Trelleborg Corporation
19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments
19.11. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
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