Market Overview:
The global commercial tire market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for commercial tires from the truck, loader, bulldozer, and other applications. In terms of type, the 29 inch≤rim diameter≤49 inch segment is expected to dominate the global commercial tire market during the forecast period owing to its high demand from truck and loader applications. However, in terms of growth rate, the rim diameter above 49 inch segment is projected to grow at a higher CAGR than other segments during 2018-2030.
Product Definition:
A commercial tire is a type of tire that is typically used on heavy duty vehicles such as trucks, buses and trailers. Commercial tires are designed to handle the high loads and tough conditions that these types of vehicles often encounter. They are also typically wider than passenger car tires, which allows them to spread the weight of the vehicle over a larger area. This helps to prevent wear and tear on the pavement, which can lead to dangerous road conditions.
29 inch≤Rim Diameter≤49 inch:
29 inch Rim Diameter 49 inch, it's usage.
It is a common size for trucks and buses. The 29-inch rim diameter is also known as 2.75 inches, 25 millimeter tires have a measurement of about 2.75 inches across the flats and are commonly called rims.
Rim Diameter Above 49 inch:
The rim diameter above 49 inch is the measurement from the center of the innermost and largest diameters of all tires. It is important for any tire to have this information so that it can be used in determining replacement or similar tires. The rim diameter above 49 inch indicates that a tire has been inflated to its maximum capacity, which would cause it to bulge slightly around its outer edge.
Application Insights:
The truck application segment led the global market and accounted for more than 40.0% share of the total revenue in 2017. The growth of this segment is attributed to the rising demand from construction, mining, agriculture and other heavy industries applications. The 29 inch tires are used on medium-duty trucks while the larger versions are mounted on heavy-duty vehicles such as tractors or buses.
The loader application segment is expected to witness significant growth over the forecast period owing to its increasing use in various construction activities including concrete mixing, site clearing & preparation for building/structure foundations along with material handling operations at construction sites and during transportation of materials between sites etcetera.
Regional Analysis:
Asia Pacific dominated the global commercial tire market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand from developing countries such as China, India, and Japan. Furthermore, rising investments by governments for infrastructural development are anticipated to boost product demand in Asia Pacific region.
The Latin American regional market is also estimated to witness significant growth over the coming years owing to increasing government spending on construction activities coupled with improving economic conditions in Brazil and Argentina. Moreover, growing automotive industry due mainly to low manufacturing cost coupled with easy availability of labor will further propel product demand during the forecast period.
Europe was another major contributor towards global revenue share in 2017 owing high consumption from Germany along with other Eastern European countries such as Russia.
Growth Factors:
- Increasing demand for commercial vehicles: The global commercial vehicle market is expected to grow at a CAGR of 5.5% from 2016 to 2021. This will lead to an increase in demand for commercial tires, as they are an essential component of these vehicles.
- Rising urbanization and industrialization: The growth of the urban population and the expansion of industries are leading to an increase in the demand for commercial tires.
- Technological advancements: Commercial tire manufacturers are constantly innovating their products in order to meet the changing needs of customers. This has led to increased product differentiation, which is benefiting the market growth.
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Tire Market Research Report
By Type
29 inch≤Rim Diameter≤49 inch, Rim Diameter Above 49 inch
By Application
Truck, Loader, Bulldozer, Others
By Companies
Michelin, Titan Tire, Chem China, Yokohama, Goodyear, Continental, Zhongce Rubber, Guizhou Tire, BKT, Double Coin Holdings, Michelin, Triangle Tyre, JK Tyre, Techking Tires
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Tire Market Report Segments:
The global Commercial Tire market is segmented on the basis of:
Types
29 inch≤Rim Diameter≤49 inch, Rim Diameter Above 49 inch
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Truck, Loader, Bulldozer, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Michelin
- Titan Tire
- Chem China
- Yokohama
- Goodyear
- Continental
- Zhongce Rubber
- Guizhou Tire
- BKT
- Double Coin Holdings
- Michelin
- Triangle Tyre
- JK Tyre
- Techking Tires
Highlights of The Commercial Tire Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 29 inch≤Rim Diameter≤49 inch
- Rim Diameter Above 49 inch
- By Application:
- Truck
- Loader
- Bulldozer
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Tire Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial Tire is a type of tire that is designed for use on commercial vehicles. These tires are made with a higher quality than regular tires, and they are typically used in trucks, buses, and other large vehicles.
Some of the key players operating in the commercial tire market are Michelin, Titan Tire, Chem China, Yokohama, Goodyear, Continental, Zhongce Rubber, Guizhou Tire, BKT, Double Coin Holdings, Michelin, Triangle Tyre, JK Tyre, Techking Tires.
The commercial tire market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Tire Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Tire Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Tire Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Tire Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Tire Market Size & Forecast, 2018-2028
4.5.1 Commercial Tire Market Size and Y-o-Y Growth
4.5.2 Commercial Tire Market Absolute $ Opportunity
Chapter 5 Global Commercial Tire Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Commercial Tire Market Size Forecast by Type
5.2.1 29 inch≤Rim Diameter≤49 inch
5.2.2 Rim Diameter Above 49 inch
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Commercial Tire Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Commercial Tire Market Size Forecast by Applications
6.2.1 Truck
6.2.2 Loader
6.2.3 Bulldozer
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Tire Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Tire Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Commercial Tire Analysis and Forecast
9.1 Introduction
9.2 North America Commercial Tire Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Commercial Tire Market Size Forecast by Type
9.6.1 29 inch≤Rim Diameter≤49 inch
9.6.2 Rim Diameter Above 49 inch
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Commercial Tire Market Size Forecast by Applications
9.10.1 Truck
9.10.2 Loader
9.10.3 Bulldozer
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Commercial Tire Analysis and Forecast
10.1 Introduction
10.2 Europe Commercial Tire Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Commercial Tire Market Size Forecast by Type
10.6.1 29 inch≤Rim Diameter≤49 inch
10.6.2 Rim Diameter Above 49 inch
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Commercial Tire Market Size Forecast by Applications
10.10.1 Truck
10.10.2 Loader
10.10.3 Bulldozer
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Commercial Tire Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Commercial Tire Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Commercial Tire Market Size Forecast by Type
11.6.1 29 inch≤Rim Diameter≤49 inch
11.6.2 Rim Diameter Above 49 inch
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Commercial Tire Market Size Forecast by Applications
11.10.1 Truck
11.10.2 Loader
11.10.3 Bulldozer
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Commercial Tire Analysis and Forecast
12.1 Introduction
12.2 Latin America Commercial Tire Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Commercial Tire Market Size Forecast by Type
12.6.1 29 inch≤Rim Diameter≤49 inch
12.6.2 Rim Diameter Above 49 inch
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Commercial Tire Market Size Forecast by Applications
12.10.1 Truck
12.10.2 Loader
12.10.3 Bulldozer
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Commercial Tire Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Commercial Tire Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Commercial Tire Market Size Forecast by Type
13.6.1 29 inch≤Rim Diameter≤49 inch
13.6.2 Rim Diameter Above 49 inch
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Commercial Tire Market Size Forecast by Applications
13.10.1 Truck
13.10.2 Loader
13.10.3 Bulldozer
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Tire Market: Competitive Dashboard
14.2 Global Commercial Tire Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Michelin
14.3.2 Titan Tire
14.3.3 Chem China
14.3.4 Yokohama
14.3.5 Goodyear
14.3.6 Continental
14.3.7 Zhongce Rubber
14.3.8 Guizhou Tire
14.3.9 BKT
14.3.10 Double Coin Holdings
14.3.11 Michelin
14.3.12 Triangle Tyre
14.3.13 JK Tyre
14.3.14 Techking Tires
