Truck and Bus Radial Tire Market Analysis and Trends 2034
Global Truck & Bus Radial Tire Market Growth, Size, Trends Analysis - By Application, By Sales Channel - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Oct-2025 | Report ID: AMIN2593 | Pages: 1 - 274 | Formats*: |
| Category : Automotive & Transportation | |||
Global Truck & Bus Radial Tire Market Introduction and Overview
According to SPER Market Research, the Global Truck & Bus Radial Tire Market is estimated to reach USD 38.92 billion by 2034 with a CAGR of 6.82%.
The report includes an in-depth analysis of the Global Truck & Bus Radial Tire Market, including market size and trends, product mix, Applications, and supplier analysis. The global market for truck and bus radial tires was valued at USD 20.12 billion in 2024 and is anticipated to experience a compound annual growth rate (CAGR) of 6.82% from 2025 to 2034. The increasing demand for trucks and buses across various sectors is a primary factor propelling the growth of the truck and bus radial (TBR) tire market. The swift growth of e-commerce, urbanization, and globalization has notably heightened the necessity for efficient transportation and logistics services. As the volume of goods transported between cities and countries rises, fleet operators are investing in new commercial vehicles to satisfy the escalating freight demand.
By Application Insights
The trucks segment held the largest share in 2024 due to the increased durability and longevity of radial tires compared to bias-ply tires. Radial tires provide better heat dissipation, reducing blowouts and wear, leading to less frequent replacements and lower operating costs for fleet operators. The bus segment is also expected to grow significantly during the forecast period, as radial tires offer improved ride comfort and passenger safety. Their design includes a flexible sidewall and independent tread for better shock absorption, resulting in a smoother ride, which is crucial for long-distance and public transit buses.
By Sales Channel Insights
In 2024, the aftermarket segment accounted for the largest revenue share, driven by a growing number of trucks and buses and an aging fleet. As these commercial vehicles experience wear, frequent tire replacements are necessary. Fleet operators often choose aftermarket radial tires as a cost-effective option that still ensures safety and performance. The OEM segment is expected to grow significantly as well, due to increasing commercial vehicle production linked to economic expansion and urbanization. Manufacturers are equipping vehicles with high-quality radial tires to improve performance, durability, and fuel efficiency, contributing to this growth.
Regional Insights
The truck and bus radial (TBR) tire market in the Asia Pacific region led the global market in 2024. The increasing demand for retreaded and cost-effective tires is driving market growth in regions where fleet operators are in search of economical and sustainable tire solutions. Retreading prolongs the lifespan of radial tires, thereby lowering overall operational costs while ensuring safety and performance standards are upheld.
In 2024, the North American truck and bus radial tire market maintained a significant share. North America boasts a strong presence of original equipment manufacturers (OEMs) that supply commercial trucks and buses, resulting in a consistent demand for TBR tires.
Market Competitive Landscape
The global truck and bus radial tire market is characterized by intense competition, with key players utilizing strategic mergers, acquisitions, partnerships, and collaborations to enhance their market presence. Prominent companies such as Michelin, Bridgestone, Continental, Goodyear, and Pirelli lead the market through aggressive expansion strategies and ongoing innovation in their product offerings. Mergers and acquisitions have been instrumental in consolidating market share. Additionally, strategic partnerships and collaborations are influencing the competitive landscape, as tire manufacturers work alongside fleet operators and OEMs to create fuel-efficient, durable, and intelligent tire solutions.
Recent Developments:
January 2025: Continental, a worldwide leader in tires, brake systems, vehicle electronics, and various components, launched its new Premium Contact 6 (PC6) ContiSeal and Gen 3 truck radial tires in India.
September 2024: CEAT, a prominent tire manufacturer in India, revealed the inauguration of a truck bus radial (TBR) production line at its Chennai manufacturing facility.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Component, By Application, By Industry |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | Swisslog Holding AG, Honeywell International Inc, KNAPP AG, BEUMER Group, SSI Schaefer, Kawasaki Heavy Industries Ltd., Locus Robotics, Kion Group AG, Dematic, GreyOrange. |
Key Topics Covered in the Report
- Global Truck & Bus Radial Tire Market Size (FY’2021-FY’2034)
- Overview of Global Truck & Bus Radial Tire Market
- Segmentation of Global Truck & Bus Radial Tire Market By Application (Trucks, Buses)
- Segmentation of Global Truck & Bus Radial Tire By Sales Channel (Aftermarket, OEMs),
- Statistical Snap of Global Truck & Bus Radial Tire Market
- Expansion Analysis of Global Truck & Bus Radial Tire Market
- Problems and Obstacles in Global Truck & Bus Radial Tire Market
- Competitive Landscape in the Global Truck & Bus Radial Tire Market
- Details on Current Investment in Global Truck & Bus Radial Tire Market
- Competitive Analysis of Global Truck & Bus Radial Tire Market
- Prominent Players in the Global Truck & Bus Radial Tire Market
- SWOT Analysis of Global Truck & Bus Radial Tire Market
- Global Truck & Bus Radial Tire Market Future Outlook and Projections (FY’2025-FY’2034)
- 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.SPERs internal database2.1.4.Premium insight from KOLs
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
5.Market variable and outlook
5.1.SWOT Analysis
5.1.1.Strengths5.1.2.Weaknesses5.1.3.Opportunities5.1.4.Threats
5.2.PESTEL Analysis
5.2.1.Political Landscape5.2.2.Economic Landscape5.2.3.Social Landscape5.2.4.Technological Landscape5.2.5.Environmental Landscape5.2.6.Legal Landscape
5.3.PORTERs 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 Truck & Bus Radial Tire Market Manufacturing Base Distribution, Sales Area, Product Type6.2.Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Truck & Bus Radial Tire Market
7.Global Truck & Bus Radial Tire Market, By Application (USD Million) 2021-2034
7.1.Trucks7.2.Buses
8.Global Truck & Bus Radial Tire Market, By Sales Channel (USD Million) 2021-2034
8.1.Aftermarket8.2.OEMs
9.Global Truck & Bus Radial Tire Market, (USD Million) 2021-2034
9.1.Global Truck & Bus Radial Tire Market Size and Market Share
10.Global Truck & Bus Radial Tire Market, By Region, (USD Million) 2021-2034
10.1.Asia-Pacific
10.1.1.Australia10.1.2.China10.1.3.India10.1.4.Japan10.1.5.South Korea10.1.6.Rest of Asia-Pacific
10.2.Europe
10.2.1.France10.2.2.Germany10.2.3.Italy10.2.4.Spain10.2.5.United Kingdom10.2.6.Rest of Europe
10.3.Middle East and Africa
10.3.1.Kingdom of Saudi Arabia10.3.2.United Arab Emirates10.3.3.Qatar10.3.4.South Africa10.3.5.Egypt10.3.6.Morocco10.3.7.Nigeria10.3.8.Rest of Middle-East and Africa
10.4.North America
10.4.1.Canada10.4.2.Mexico10.4.3.United States
10.5.Latin America
10.5.1.Argentina10.5.2.Brazil10.5.3.Rest of Latin America
11.Company Profile
11.1.MICHELIN
11.1.1.Company details11.1.2.Financial outlook11.1.3.Product summary11.1.4.Recent developments
11.2.Apollo Tires
11.2.1.Company details11.2.2.Financial outlook11.2.3.Product summary11.2.4.Recent developments
11.3.Yokohoma Rubber Corporation
11.3.1.Company details11.3.2.Financial outlook11.3.3.Product summary11.3.4.Recent developments
11.4.Bridgestone Corporation
11.4.1.Company details11.4.2.Financial outlook11.4.3.Product summary11.4.4.Recent developments
11.5.Sumitomo Rubber Industries, Ltd
11.5.1.Company details11.5.2.Financial outlook11.5.3.Product summary11.5.4.Recent developments
11.6.Continental AG
11.6.1.Company details11.6.2.Financial outlook11.6.3.Product summary11.6.4.Recent developments
11.7.Balkrishna Industries Limited (BKT)
11.7.1.Company details11.7.2.Financial outlook11.7.3.Product summary11.7.4.Recent developments
11.8.Giti Tire
11.8.1.Company details11.8.2.Financial outlook11.8.3.Product summary11.8.4.Recent developments
11.9.The Goodyear Tire & Rubber Company
11.9.1.Company details11.9.2.Financial outlook11.9.3.Product summary11.9.4.Recent developments
11.10.Kumho Tir
11.10.1.Company details11.10.2.Financial outlook11.10.3.Product summary11.10.4.Recent developments
11.11.Others
12.Conclusion
13.List of Abbreviations
14.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
Truck and Bus Radial Tire Market is projected to reach USD 38.92 billion by 2034, growing at a CAGR of 6.82% during the forecast period.
Truck and Bus Radial Tire Market size from 2025. The Market is expected to reach USD 38.92 billion by 2034, at a CAGR of 6.82% during the forecast period.
Truck and Bus Radial Tire Market CAGR of 6.82% during the forecast period.
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Truck and Bus Radial Tire Market size is USD 38.92 billion from 2025 to 2034.
Truck and Bus Radial Tire Market covered By Application, By Sales Channel
The North America is anticipated to have the highest Market share in the Truck and Bus Radial Tire Market.
MICHELIN, Apollo Tires, Yokohoma Rubber Corporation, Bridgestone Corporation, Sumitomo Rubber Industries, Ltd, Continental AG, Balkrishna Industries Limited (BKT), Giti Tire, The Goodyear Tire & Rubber Company, Kumho Tir.
The report includes an in-depth analysis of the Global Truck & Bus Radial Tire Market, including market size and trends, product mix, Applications, and supplier analysis.
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