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

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. 
Commercial Vehicles Tires Market
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 coveredBy 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:
By Application:
  • Agriculture
  • Construction
  • Mining
  • Transport
  • By End-User:
  • Aftermarket
  • OEM
  • By Material:
  • Natural Rubber
  • Nylon Cord Fabric and Wire
  • Poly Butadiene Rubber
  • Styrene Butadiene Rubber
  • By Sales Channel:
  • Offline
  • Online
  • By Terrain:
  • Off-Road
  • On-Road
  • 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 report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. 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. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. 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. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Global Commercial Vehicle Tire Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. 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, 2023-2033
    7.2. Agriculture 
    7.3. Construction
    7.4. Mining 
    7.5. 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, 2023-2033
    8.2. Aftermarket
    8.3. OEM 

    9. Global Commercial Vehicle Tire Market, By Material (USD Million)
    9.1. Global Commercial Vehicle Tire Market Value Share and Forecast, By Material, 2023-2033
    9.2. Natural Rubber
    9.3. Nylon Cord Fabric and Wire 
    9.4. Poly Butadiene Rubber
    9.5. 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, 2023-2033
    10.2. Offline
    10.3. Online

    11. Global Commercial Vehicle Tire Market, By Terrain (USD Million)
    11.1. Global Commercial Vehicle Tire Market Value Share and Forecast, By Terrain, 2023-2033
    11.2. Off-Road
    11.3. 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. Australia
    18.3.2. China
    18.3.3. India
    18.3.4. Japan
    18.3.5. South Korea
    18.3.6. Rest of Asia-Pacific
    18.4. Europe
    18.4.1. France
    18.4.2. Germany
    18.4.3. Italy
    18.4.4. Spain
    18.4.5. United Kingdom
    18.4.6. Rest of Europe
    18.5. Middle East and Africa
    18.5.1. Kingdom of Saudi Arabia 
    18.5.2. United Arab Emirates
    18.5.3. Rest of Middle East & Africa
    18.6. North America
    18.6.1. Canada
    18.6.2. Mexico
    18.6.3. United States
    18.7. Latin America
    18.7.1. Argentina
    18.7.2. Brazil
    18.7.3. Rest of Latin America 

    19. Company Profile
    19.1. ATG Tires Private Limited
    19.1.1. Company details
    19.1.2. Financial outlook
    19.1.3. Product summary 
    19.1.4. Recent developments
    19.2. Balkrishna Industries Limited
    19.2.1. Company details
    19.2.2. Financial outlook
    19.2.3. Product summary 
    19.2.4. Recent developments
    19.3. Bridgestone Corporation
    19.3.1. Company details
    19.3.2. Financial outlook
    19.3.3. Product summary 
    19.3.4. Recent developments
    19.4. Continental AG
    19.4.1. Company details
    19.4.2. Financial outlook
    19.4.3. Product summary 
    19.4.4. Recent developments
    19.5. Goodyear Tyre and Rubber Company
    19.5.1. Company details
    19.5.2. Financial outlook
    19.5.3. Product summary 
    19.5.4. Recent developments
    19.6. Hankook Tire and Technology Group
    19.6.1. Company details
    19.6.2. Financial outlook
    19.6.3. Product summary 
    19.6.4. Recent developments
    19.7. McLaren Industries
    19.7.1. Company details
    19.7.2. Financial outlook
    19.7.3. Product summary 
    19.7.4. Recent developments
    19.8. Sumitomo Corporation
    19.8.1. Company details
    19.8.2. Financial outlook
    19.8.3. Product summary 
    19.8.4. Recent developments
    19.9. The Michelin Group
    19.9.1. Company details
    19.9.2. Financial outlook
    19.9.3. Product summary 
    19.9.4. Recent developments
    19.10. Trelleborg Corporation
    19.10.1. Company details
    19.10.2. Financial outlook
    19.10.3. Product summary 
    19.10.4. 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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