Heavy Duty Tire Market Growth, Size, Trends, Demand, Share, Revenue and Future Outlook
Heavy Duty Tire Market Size- By Type, By Product, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2024 | Report ID: AMIN24132 | Pages: 1 - 223 | Formats*: |
| Category : Automotive & Transportation | |||
Heavy Duty Tire Market Introduction and Overview
According to SPER Market Research, the Global Heavy Duty Tire Market is estimated to reach USD 31.99 billion by 2033 with a CAGR of 4.61%.
The report includes an in-depth analysis of the Global Heavy Duty Tire Market, including market size and trends, product mix, applications, and supplier analysis. Compared to regular tires, heavy-duty tires are made for carrying heavier loads and more challenging conditions. These tires are frequently found in off-road vehicles, construction equipment, commercial vehicles, and agricultural machinery—all areas where toughness and longevity are crucial. In order to withstand higher pressures and withstand punctures, abrasions, and impacts, heavy-duty tires have reinforced sidewalls, thicker tread compounds, and stronger carcasses. To provide better traction on a variety of surfaces, such as gravel, mud, and difficult terrain, they frequently include deeper tread patterns. Also, heat resistant compounds for extended high-speed use or self-cleaning tread patterns to avoid mud buildup are examples of special characteristics found on heavy-duty tires.
- March 2024; The latest line of products from a well known player in the automobile tire industry, is called Tornado Truck Tires. This collection of tires is designed to meet the demanding needs of modern truck drivers by offering unparalleled durability, efficiency, and performance.
- August 2022; An improved version of one of the brand’s most well liked mining tires, the Michelin X Mine D2 Extra Load L5 35/65R33 tire was introduced by Michelin North America, in August 2022. The new tire, which has an enhanced load rating to efficiently manage heavier weights, is specifically made to withstand the tough mining conditions found in underground and quarry mining operations. The market research future study on the heavy duty tire market can be seen here.
Market Opportunities and Challenges
Opportunities: The global automobile sector is growing, and it is even making inroads into emerging economies, which is driving up demand for tires. There are now more trucks on the road due to transportation needs and infrastructural development. The supply and demand for radial tires vary according on truck size and weight. It is projected that throughout the forecast period, there will be a significant increase in the global demand for truck tires. Since truck tires require a greater level of manufacturing technology than some light tires, the global tire market is largely concentrated. Certain businesses are highly renowned for the exceptional functionality of their truck tires and associated services.
Challenges: One of the main obstacles impeding the expansion of the heavy-duty vehicle tire industry is the growing desire for 6x2 axles. Commercial fuel-efficient trucks that maintain load-pulling capacity are in high demand due to the growing need for fuel economy and the stricter regulations on vehicle emissions. Vehicle manufacturers have also resorted to increasing the number of truck models with 6x2 axle driveline combinations as a result of this. Additionally, a truck with a 6x2 axle driveline has fewer axles, which lowers the need for heavy-duty tires. Furthermore, 6x4 driveline combinations are added to typical commercial trucks to enhance traction on a range of terrains.
Market Competitive Landscape
The heavy duty tire market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are Bridgestone corporation, Continental Reifen Deutschland GMBH, Goodyear Tire and Rubber Co, JK Tyre and Industries ltd., Michelin, Pirelli and C. Spa, Sumitomo Rubber Industries ltd, Titan International Inc, Trelleborg AB, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Product, By Application, By End-User |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Bridgestone corporation, Continental Reifen Deutschland GMBH, Goodyear Tire and Rubber Co, JK Tyre and Industries ltd., Michelin, Pirelli and C. Spa, Sumitomo Rubber Industries ltd, Titan International Inc, Trelleborg AB, Others. |
COVID-19 Impact on Global Heavy Duty Tire Market
Given that starting of lockdown saw a drop in new car production and sales, the COVID-19 pandemic had a major short-term impact on the automotive tyres market. Furthermore, due to the limitations, car owners drove less, which caused maintenance appointments and tire replacements to be postponed. However, the market is anticipated to be economically revitalized as well, with the participants concentrating on the creation of the new product, given the anticipated exponential increase in vehicle sales during the projection period.
Key Target Audience:
- Construction Companies
- Agricultural Enterprises
- Mining Operations
- Government and Municipal Agencies
- Tire Dealers and Distributors
- Vehicle Maintenance and Repair shops
Our in-depth analysis of the Heavy Duty Tire Market Health Software Market includes the following segments:
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- Global Heavy Duty Tire Market Size (FY’2024-FY’2033)
- Overview of Global Heavy Duty Tire Market
- Segmentation of Global Heavy Duty Tire Market by Type (Construction, Machinery, Mining, Agricultural)
- Segmentation of Global Heavy Duty Tire Market by Product (Radial Tires, Bias Tires, Diagonal Tires)
- Segmentation of Global Heavy Duty Tire Market by Application (Mini Truck, Light Truck, Medium Sized Truck, Heavy Truck)
- Segmentation of Global Heavy Duty Tire Market by End-User (OEM, Aftermarket)
- Statistical Snap of Global Heavy Duty Tire Market
- Expansion Analysis of Global Heavy Duty Tire Market
- Problems and Obstacles in Global Heavy Duty Tire Market
- Competitive Landscape in the Global Heavy Duty Tire Market
- Impact of COVID-19 and Demonetization on Global Heavy Duty Tire Market
- Details on Current Investment in Global Heavy Duty Tire Market
- Competitive Analysis of Global Heavy Duty Tire Market
- Prominent Players in the Global Heavy Duty Tire Market
- SWOT Analysis of Global Heavy Duty Tire Market
- Global Heavy Duty Tire Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Heavy Duty Tire Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Heavy Duty Tire Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Heavy Duty Tire Market
7. Global Heavy Duty Tire Market, By Type (USD Million) 2020-2033
7.1. Global Heavy Duty Tire Market Size, Share and Forecast, By Type, 2020-20267.2. Global Heavy Duty Tire Market Size, Share and Forecast, By Type, 2027-20337.3. Construction7.4. Machinery7.5. Mining7.6. Agricultural
8. Global Heavy Duty Tire Market, By Product (USD Million) 2020-2033
8.1. Global Heavy Duty Tire Market Size, Share and Forecast, By Product, 2020-20268.2. Global Heavy Duty Tire Market Size, Share and Forecast, By Product, 2027-20338.3. Radial Tires8.4. Bias Tires8.5. Diagonal Tires
9. Global Heavy Duty Tire Market, By Application (USD Million) 2020-2033
9.1. Global Heavy Duty Tire Market Size, Share and Forecast, By Application, 2020-20269.2. Global Heavy Duty Tire Marke Size, Share and Forecast, By Application, 2027-20339.3. Mini Truck9.4. Light Truck9.5. Medium Sized Truck9.6. Heavy Truck
10. Global Heavy Duty Tire Market, By End-Users (USD Million) 2020-2033
10.1. Global Heavy Duty Tire Market Size, Share and Forecast, By End-Users, 2020-202610.2. Global Heavy Duty Tire Market Size, Share and Forecast, By End-Users, 2027-203310.3. OEM10.4. Aftermarket
11. Global Heavy Duty Tire Market Forecast, 2020-2033 (USD Million)
11.1. Global Heavy Duty Tire Market Size and Market Share
12. Global Heavy Duty Tire Market, By Region, 2020-2033 (USD Million)
12.1. Global Heavy Duty Tire Market Size and Market Share By Region (2020-2026)12.2. Global Heavy Duty Tire Market Size and Market Share By Region (2027-2033)12.3. Asia-Pacific12.3.1. Australia12.3.2. China12.3.3. India12.3.4. Japan12.3.5. South Korea12.3.6. Rest of Asia-Pacific12.4. Europe12.4.1. France12.4.2. Germany12.4.3. Italy12.4.4. Spain12.4.5. United Kingdom12.4.6. Rest of Europe12.5. Middle East and Africa12.5.1. Kingdom of Saudi Arabia12.5.2. United Arab Emirates12.5.3. Qatar12.5.4. South Africa12.5.5. Egypt12.5.6. Morocco12.5.7. Nigeria12.5.8. Rest of Middle-East and Africa12.6. North America12.6.1. Canada12.6.2. Mexico12.6.3. United States12.7. Latin America12.7.1. Argentina12.7.2. Brazil12.7.3. Rest of Latin America
13. Company Profile
13.1. BRIDGESTONE CORPORATION13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments13.2. CONTINENTAL REIFEN DEUTSCHLAND GMBH13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments13.3. GOODYEAR TIRE AND RUBBER CO13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments13.4. JK TYRE AND INDUSTRIES LTD13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. MICHELIN13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. PIRELLI AND C. SPA13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. SUMITOMO RUBBER INDUSTRIES LTD13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. TITAN INTERNATIONAL INC13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. TRELLEBORG AB13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments13.10. Others
14. Conclusion
15. List of Abbreviations
16. Reference Links
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.
Frequently Asked Questions About This Report
Heavy Duty Tire Market is projected to reach USD 31.99 billion by 2033, growing at a CAGR of 4.61% during the forecast period.
Heavy Duty Tire Market size from 2022. The Market is expected to reach USD 31.99 billion by 2033, at a CAGR of 4.61% during the forecast period.
Heavy Duty Tire Market CAGR of 4.61% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Heavy Duty Tire Market size is 31.99 billion from 2024 to 2033.
Heavy Duty Tire Market Segment is covered By Type, By Product, By Application, By End-User.
The North America anticipated to have the highest market share in the Heavy Duty Tire Market.
"The key players in the market include Companies Covered Bridgestone corporation, Continental Reifen Deutschland GMBH, Goodyear Tire and Rubber Co, JK Tyre and Industries ltd., Michelin, Pirelli and C. Spa, Sumitomo Rubber Industries ltd, Titan International Inc, Trelleborg AB, Others.
"
To provide better traction on a variety of surfaces, such as gravel, mud, and difficult terrain, they frequently include deeper tread patterns.
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