Commercial Vehicles Tires - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Commercial Vehicles Tires Market is expected to growing at a CAGR of 5.4% during the forecast period. Growing investment in infrastructure, economic expansion and growing transport volumes are the major factors propelling market growth. However, the high replacement cost of these tires is hampering market growth.
Tires are the only component of a vehicle which comes in direct contact with the road. Tires in commercial vehicles are equipped to handle all sort of rough conditions including unpaved roads, sand, dirt and rocks can even be the norm in some places. They are exposed to several unsuitable environments and road conditions that entail the manufacturers to produce specific tires for a particular environment and weather conditions such as all-season, winter, and summer tires.
Based on the application, the mining segment is going to have a lucrative growth during the forecast period owing to the flourishing demand in the emerging markets. This has resulted in not only high demand for commercial vehicles but sustainable tires as well. With huge investments from domestic and international players, industry experts believe that the tire industry is all set to grow at an immense pace. The massive demand for mining unlocks the doorways for the growth in commercial vehicles tires market.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the augmenting construction activities in countries, such as India and ASEAN countries (including Thailand, Singapore, Vietnam, and others). Growing electrification of commercial vehicles in countries such as China is also expected to drive the growth of commercial vehicle tire market in the country.
Some of the key players profiled in the Commercial Vehicles Tires Market include Bridgestone Corporation, Continental AG, Balkrishna Industries Limited, The Michelin Group, Trelleborg Corporation, ATG Tires Private Limited, Sumitomo Corporation, Hankook Tire And Technology Group, McLaren Industries, and Goodyear Tyre And Rubber Company.
Vehicle Weights Covered:
• Less Than 3.5 Tons
• 3.5 Tons To 16 Tons
• More Than 16 Tons
• Rim Diameter (<20 Inch)
• Rim Diameter (20 to 45 Inch)
• Rim Diameter (45 to 65 Inch)
• Natural Rubber
• Poly Butadiene Rubber
• Styrene-Butadiene Rubber
• Nylon Cord Fabric And Wire
• Radial Tyre
• Bias Tyre
Vehicle Types Covered:
• Medium and Heavy Commercial Vehicle (M&HCVs)
• Light Commercial Vehicle (LCVs)
Sales Channels Covered:
End Users Covered:
• Original Equipment Manufacturer (OEM)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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o Comprehensive profiling of additional market players (up to 3)
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o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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