Truck and bus radial (TBR) tire market is anticipated to grow at a CAGR of 6.0% during the forecast period. The growth of the market is attributed to factors such as the increasing demand for commercial vehicles, expanding transportation and logistics industry, and technological advancements in tire manufacturing. Furthermore, factors such as the need for fuel efficiency, improved vehicle performance, and increased safety standards are expected to drive the demand for TBR tires. For instance, in August 2022, Apollo Tyres launched five new truck-bus radial tires in India, catering to various positions and applications. One of the tires, Apollo EnduTrax MA, is designed for tipper trucks, offering superior cut resistance and durability for challenging terrains. The Apollo EnduRace RA is a regional tire known for its mileage, durability, and traction on wet and dry roads. Additionally, three tires, Apollo EnduMile LHD, LDR, and LDT, are designed for long-haul operations, providing improved fuel efficiency, longevity, and highway traction. This launch aims to enhance Apollo Tyres’ market presence in India’s truck and bus radial tire segment.
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The global TBR tire market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analysed at a regional or country level as per the requirement. Among regions, the Asia-Pacific region is projected to experience considerable growth in the TBR tire market. Rapid industrialization, infrastructure development, and increasing urbanization in countries like China and India are driving the demand for commercial vehicles and subsequently boosting the demand for TBR tires. Additionally, the expanding e-commerce sector and growing transportation requirements contribute to market growth in the region.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Truck and Bus Radial (TBR) Tire Market Report Segment
By Application
- Truck
- Bus
By Type
- Steer Tires
- Drive Tires
- Trailer Tires
- Others (All-Position Tire)
By Sales Channel
- Original Equipment Markets
- Aftermarket
Global Truck and Bus Radial (TBR) Tire Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global truck and bus radial (TBR) tire market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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