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Global Commercial Vehicle Tire Market Research Report: Forecast (2023-2028)

By Vehicle Type (Light Commercial Vehicle (Light Truck, Light Bus, Pickup Trucks and Vans), Medium & Heavy Commercial Vehicle (Truck, Bus), By Tire Type (Radial, Bias), By Price Ca......tegory (Budget, Economy, Premium), By Sales Channel (Multi-brand Stores, Exclusive Outlets, Online), By Demand Type (OEM, Aftermarket), By Application (Cargo Transportation, Public Transportation, Oil & Gas Transportation, Others (Construction Material Transportation, Towing, etc.)), By Tire Size (Light Commercial Vehicle (225/75R16, 245/75R16, 245/75R17, 265/70R17, Others (265/75R16, 285/70 R17, etc.)), Medium & Heavy Commercial Vehicle (295/75R22.5, 225/70R19.5, 295/90R20, 295/80R22.5, Others (11R22.5, 11R24.5, 245/70R19.5, etc.)), By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific), By Company (Bridgestone Corporation, Compagnie Générale des Établissements Michelin SCA, Continental AG, The Goodyear Tire & Rubber Company, The Yokohama Rubber Company Ltd., Pirelli & C. S.p.A, Hankook Tire & Technology, Kumho Tire, Sumitomo Rubber Industries, Ltd., Zhongce Rubber Group Co. Ltd., CEAT Limited, MRF Tyres, JK Tyre & Industries, Apollo Tyres Limited, Others) Read more

Tire
Apr 2023
Pages 201
Report Format: PDF, Excel, PPT

Market Insights & Analysis: Global Commercial Vehicle Tire Market (2023-28)

The Global Commercial Vehicle Tire Market is projected to grow at a CAGR of around 5.29% during the forecast period, i.e., 2023-28. The market has shown significant growth in the past few years due to factors, including the high demand from end-users like mining, oil & gas, logistics, e-commerce, public transportation, etc. With the high degree of digitalization and improving transportation networks, the demand for both LCVs & MHCVs has emerged significantly in regions like North America, Europe, & the Asia Pacific, which, with their high growth rate and fast-paced industrialization & urbanization, have pushed the sales of commercial vehicle tires.

The increasing production of pickup trucks, pickup vans, light buses, and heavy trucks & buses has led to the significant popularity of commercial vehicle tires. The rapid expansion of public transit and the increasing proliferation of EVs (Electric Vehicles), particularly in countries like India, Brazil, & Japan, is also widening the market size. In addition, the strong presence of leading players like BFGoodrich, Pirelli, Michelin, Goodyear, & Continental continues to benefit the industry. Besides, Apollo, Ceat, JK, & MRF have started gaining pace in Asia-Pacific after the pandemic.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR (2023-2028)	5.29%
Regions Covered	North America: The US, Canada, Mexico
	Europe: Germany, The UK, France, Italy, Spain, Rest of Europe
	Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia Pacific
	South America: Brazil, Argentina, Rest of South America
	Middle East & Africa: UAE, Saudi Arabia, South Africa, Egypt, Rest of MEA
Key Companies Profiled	Bridgestone Corporation, Compagnie Générale des Établissements Michelin SCA, Continental AG, The Goodyear Tire & Rubber Company, The Yokohama Rubber Company Ltd., Pirelli & C. S.p.A, Hankook Tire & Technology, Kumho Tire, Sumitomo Rubber Industries, Ltd., Zhongce Rubber Group Co. Ltd., CEAT Limited, MRF Tyres, JK Tyre & Industries, Apollo Tyres Limited, Others
Unit Denominations	USD Million/Billion

A rapid surge in government investments in public transportation and the high cargo transportation demand are creating lucrative prospects for the industry. Trends like the extensive adoption of telematics technology for real-time diagnosis of commercial vehicle tires have garnered the attention of manufacturers. Besides, the increased adoption of green tires in commercial vehicles is another prominent aspect projected to fuel the growth of the commercial vehicle tire market in the years to come.

Global Commercial Vehicle Tire Market Driver:

Mounting Sales of Agricultural Vehicle Tires, Pushed by Farm Mechanization Trends: Agriculturally deprived economies have begun to incorporate farm machinery equipped with the IoT and automation techniques in order to ramp up their yields. Due to labor shortages and the increased need for enhanced agricultural productivity, farm mechanization trends are gaining traction in various countries worldwide and, in turn, augmenting the demand for heavy agricultural machinery, such as tractors, combines, & harvesters, among others, which require reliable & durable tires for heavy-duty operations.

Global Commercial Vehicle Tire Market Research Report (2023-2028) - Table of Contents

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Impact of COVID-19 on Global Commercial Vehicle Tire Market
Global Commercial Vehicle Tire Market Regulations & Policy
Global Commercial Vehicle Tire Market Trends & Developments
Global Commercial Vehicle Tire Market Dynamics
1. Growth Drivers
2. Challenges
Global Commercial Vehicle Tire Market Hotspots & Opportunities
Global Commercial Vehicle Tire Market Supply Chain Analysis
Global Commercial Vehicle Tire Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Share & Analysis
  1. By Vehicle Type
    1. Light Commercial Vehicle
      1. Light Truck
      2. Light Bus
      3. Pickup Trucks and Vans
    2. Medium & Heavy Commercial Vehicle
      1. Truck
      2. Bus
  2. By Tire Type
    1. Radial
    2. Bias
  3. By Price Category
    1. Budget
    2. Economy
    3. Premium
  4. By Sales Channel
    1. Multi-brand Stores
    2. Exclusive Outlets
    3. Online
  5. By Demand Type
    1. OEM
    2. Aftermarket
  6. By Application
    1. Cargo Transportation
    2. Public Transportation
    3. Oil & Gas Transportation
    4. Others (Construction Material Transportation, Towing, etc.)
  7. By Tire Size
    1. Light Commercial Vehicle
      1. 225/75R16
      2. 245/75R16
      3. 245/75R17
      4. 265/70R17
      5. Others (265/75R16, 285/70 R17, etc.)
    2. Medium & Heavy Commercial Vehicle
      1. 295/75R22.5
      2. 225/70R19.5
      3. 295/90R20
      4. 295/80R22.5
      5. Others (11R22.5, 11R24.5, 245/70R19.5, etc.)
  8. By Region
    1. North America
    2. South America
    3. Europe
    4. Middle East & Africa
    5. Asia-Pacific
  9. By Company
    1. Competition Characteristics
    2. Revenue Shares
North America Commercial Vehicle Tire Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues
  2. By Units Sold
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Tire Type
  3. By Price Category
  4. By Sales Channel
  5. By Demand Type
  6. By Application
  7. By Tire Size
  8. By Country
    1. The US
    2. Canada
    3. Mexico
3. The United States Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
4. Canada Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
5. Mexico Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
South America Commercial Vehicle Tire Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues
  2. By Units Sold
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Tire Type
  3. By Price Category
  4. By Sales Channel
  5. By Demand Type
  6. By Application
  7. By Tire Size
  8. By Country
    1. Brazil
    2. Argentina
    3. Rest of South America
3. Brazil Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
4. Argentina Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
Europe Commercial Vehicle Tire Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues
  2. By Units Sold
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Tire Type
  3. By Price Category
  4. By Sales Channel
  5. By Demand Type
  6. By Application
  7. By Tire Size
  8. By Country
    1. Germany
    2. The UK
    3. France
    4. Italy
    5. Spain
    6. Rest of Europe
3. Germany Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
4. The UK Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
5. France Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
6. Italy Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
7. Spain Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
Middle East & Africa Commercial Vehicle Tire Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues
  2. By Units Sold
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Tire Type
  3. By Price Category
  4. By Sales Channel
  5. By Demand Type
  6. By Application
  7. By Tire Size
  8. By Country
    1. UAE
    2. Saudi Arabia
    3. South Africa
    4. Egypt
    5. Rest of MEA
3. UAE Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
4. Saudi Arabia Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
5. South Africa Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
6. Egypt Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
Asia-Pacific Commercial Vehicle Tire Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues
  2. By Units Sold
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Tire Type
  3. By Price Category
  4. By Sales Channel
  5. By Demand Type
  6. By Application
  7. By Tire Size
  8. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Australia
    6. Rest of Asia-Pacific
3. China Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
4. India Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
5. Japan Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
6. South Korea Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
7. Australia Commercial Vehicle Tire Market Outlook, 2018-2028F
  1. Market Size & Analysis
    1. By Revenues
    2. By Units Sold
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Tire Type
    3. By Demand Type
    4. By Application
Global Commercial Vehicle Tire Market Key Strategic Imperatives for Success & Growth
Competition Outlook
1. Competition Matrix
  1. Product Portfolio
  2. Target Markets
  3. Research & Development
  4. Strategic Alliances
  5. Strategic Initiatives
2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
  1. Bridgestone Corporation
  2. Compagnie Générale des Établissements Michelin SCA
  3. Continental AG
  4. The Goodyear Tire & Rubber Company
  5. The Yokohama Rubber Company Ltd.
  6. Pirelli & C. S.p.A
  7. Hankook Tire & Technology
  8. Kumho Tire
  9. Sumitomo Rubber Industries, Ltd.
  10. Zhongce Rubber Group Co. Ltd.
  11. CEAT Limited
  12. MRF Tyres
  13. JK Tyre & Industries
  14. Apollo Tyres Limited
  15. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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