Commercial Vehicle Tire Market Growth, Size, Trends, Demand, Revenue, Share and Future Outlook: SPER Market Research

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.

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.

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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:

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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