Market Overview:
The global low rolling resistance truck and bus radial tire market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for fuel-efficient tires across the globe. Based on type, bias tires are expected to dominate the global low rolling resistance truck and bus radial tire market throughout the forecast period. This can be attributed to their high durability as compared to other types of tires available in the market.
Product Definition:
A truck or bus radial tire is a high-performance, fuel-efficient tire that has been specifically designed for use on trucks and buses.
• Greater durability.
Bias Tires:
Bias tires are also known as radial tires. They were initially designed for aircraft, where high performance is a primary requirement. Bias technology was later adopted by the automotive industry and has been witnessing steady growth in recent years owing to its ability to deliver improved handling characteristics at a relatively lower cost than other types of radials.
Radial Tires:
Radial tires are designed to deliver better performance in terms of fuel economy and safety. The design provides more contact between the tire and the road, which reduces the rolling resistance. As a result, they provide better fuel efficiency as compared to non- radial tires.
The growing demand for green products is expected to be one of the key factors driving market growth over the forecast period. In addition, stringent government regulations regarding carbon emissions are likely to propel product demand further.
Application Insights:
The agriculture segment dominated the global market in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing demand for tractors and other agricultural vehicles across various regions of the world. Agriculture is one of the major occupations in several regions, including Central and South America, Asia Pacific, Africa, and Middle East & Africa. This factor would boost product demand across these regions over the coming years.
Commerce was another prominent application sector that accounted for a significant share in 2017 due to high consumer spending on automobiles as a status symbol among high-income groups globally. Increasing urbanization along with rising disposable income has led to an increase in car ownership rates globally among all age groups from young adults through seniors citizens which has positively influenced industry growth over recent years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% in terms of volume, which can be attributed to growing adoption of low rolling resistance tires across several industries including agriculture, construction, and commercial transportation. In addition, increasing investments by governments in developing countries are likely to boost demand for light weight vehicles that will further propel growth. For instance; China’s 13th Five-Year Plan (2016 - 2020) has identified tire manufacturing as one of its key focuses with an aim to develop high-quality tires with competitive prices.
Europe was another major contributor towards industry expansion owing to rising demand from various end users such as buses & trucks and other commercial applications such as garbage collection & recycling trucks among others.
Growth Factors:
- Increasing demand for fuel-efficient vehicles: The global market for low rolling resistance truck and bus radial tires is expected to grow at a CAGR of over 5% during the forecast period. This can be attributed to the increasing demand for fuel-efficient vehicles, especially in developed countries such as the US and Europe.
- Stringent emission norms: Stringent emission norms across different countries are also driving the growth of this market. For instance, Euro VI emissions norm was introduced in Europe in September 2014, which mandates that all new heavy-duty commercial vehicles must have a low rolling resistance tire fitted as standard equipment starting from November 2016 onwards.
- Rising awareness about energy conservation: There is an increasing awareness among consumers about energy conservation and its benefits, which is aiding the growth of this market. In addition, various government initiatives aimed at promoting fuel efficiency are also contributing to the growth of this market.
Scope Of The Report
Report Attributes
Report Details
Report Title
Low Rolling Resistance Truck and Bus Radial Tire Market Research Report
By Type
Bias Tires, Radial Tires
By Application
Agriculture, Commerce, Others
By Companies
Apollo Vredestein, Bridgestone, Continental, Michelin, The Goodyear Tire and Rubber, Falken Tire, Hankook Tire Worldwide, Kumho Tire, Maxxis International, Nokian Tyres, Pirelli & C.
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
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Low Rolling Resistance Truck and Bus Radial Tire Market Report Segments:
The global Low Rolling Resistance Truck and Bus Radial Tire market is segmented on the basis of:
Types
Bias Tires, Radial Tires
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
Agriculture, Commerce, 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:
- Apollo Vredestein
- Bridgestone
- Continental
- Michelin
- The Goodyear Tire and Rubber
- Falken Tire
- Hankook Tire Worldwide
- Kumho Tire
- Maxxis International
- Nokian Tyres
- Pirelli & C.
Highlights of The Low Rolling Resistance Truck and Bus Radial 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:
- Bias Tires
- Radial Tires
- By Application:
- Agriculture
- Commerce
- 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 Low Rolling Resistance Truck and Bus Radial 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?
Low rolling resistance truck and bus radial tire is a type of tire designed to reduce the amount of energy needed to move a vehicle through the ground. This type of tire is often used on trucks and buses because they are heavy vehicles that require more energy to move than cars.
Some of the key players operating in the low rolling resistance truck and bus radial tire market are Apollo Vredestein, Bridgestone, Continental, Michelin, The Goodyear Tire and Rubber, Falken Tire, Hankook Tire Worldwide, Kumho Tire, Maxxis International, Nokian Tyres, Pirelli & C..
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Low Rolling Resistance Truck and Bus Radial Tire Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Low Rolling Resistance Truck and Bus Radial Tire Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Low Rolling Resistance Truck and Bus Radial Tire Market - Supply Chain
4.5. Global Low Rolling Resistance Truck and Bus Radial Tire Market Forecast
4.5.1. Low Rolling Resistance Truck and Bus Radial Tire Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Low Rolling Resistance Truck and Bus Radial Tire Market Size (000 Units) and Y-o-Y Growth
4.5.3. Low Rolling Resistance Truck and Bus Radial Tire Market Absolute $ Opportunity
5. Global Low Rolling Resistance Truck and Bus Radial Tire Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Type
5.3.1. Bias Tires
5.3.2. Radial Tires
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Low Rolling Resistance Truck and Bus Radial Tire Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Application
6.3.1. Agriculture
6.3.2. Commerce
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Low Rolling Resistance Truck and Bus Radial Tire Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Low Rolling Resistance Truck and Bus Radial Tire Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Low Rolling Resistance Truck and Bus Radial Tire Demand Share Forecast, 2019-2029
9. North America Low Rolling Resistance Truck and Bus Radial Tire Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Application
9.4.1. Agriculture
9.4.2. Commerce
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Type
9.7.1. Bias Tires
9.7.2. Radial Tires
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Low Rolling Resistance Truck and Bus Radial Tire Demand Share Forecast, 2019-2029
10. Latin America Low Rolling Resistance Truck and Bus Radial Tire Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Application
10.4.1. Agriculture
10.4.2. Commerce
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Type
10.7.1. Bias Tires
10.7.2. Radial Tires
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Low Rolling Resistance Truck and Bus Radial Tire Demand Share Forecast, 2019-2029
11. Europe Low Rolling Resistance Truck and Bus Radial Tire Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Application
11.4.1. Agriculture
11.4.2. Commerce
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Type
11.7.1. Bias Tires
11.7.2. Radial Tires
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Low Rolling Resistance Truck and Bus Radial Tire Demand Share, 2019-2029
12. Asia Pacific Low Rolling Resistance Truck and Bus Radial Tire Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Application
12.4.1. Agriculture
12.4.2. Commerce
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Type
12.7.1. Bias Tires
12.7.2. Radial Tires
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Low Rolling Resistance Truck and Bus Radial Tire Demand Share, 2019-2029
13. Middle East & Africa Low Rolling Resistance Truck and Bus Radial Tire Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Application
13.4.1. Agriculture
13.4.2. Commerce
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Low Rolling Resistance Truck and Bus Radial Tire Market Size and Volume Forecast by Type
13.7.1. Bias Tires
13.7.2. Radial Tires
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Low Rolling Resistance Truck and Bus Radial Tire Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Low Rolling Resistance Truck and Bus Radial Tire Market: Market Share Analysis
14.2. Low Rolling Resistance Truck and Bus Radial Tire Distributors and Customers
14.3. Low Rolling Resistance Truck and Bus Radial Tire Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Apollo Vredestein
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Bridgestone
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Continental
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Michelin
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. The Goodyear Tire and Rubber
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Falken Tire
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Hankook Tire Worldwide
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Kumho Tire
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Maxxis International
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Nokian Tyres
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Pirelli & C.
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook