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

By Vehicle Type (Light Truck, Light Bus, Pickup Trucks and Vans), By Demand (OEM, Replacement), By Tire Type (Radial, Bias), By Rim Size (Up to 15”, 15.1-16 ... Read more

Tire
Mar 2023
Pages 243
Report Format: PDF, Excel, PPT

Market Definition

Light commercial vehicle (LCV) tires are generally made for light-duty and heavy-duty trucks and vans. They are designed for traction and strength on and off the road with a load capacity ranging between ½ ton and 1 ton. They are used for various purposes like agricultural transportation, e-commerce, dairy & meat transportation, and others. Light commercial vehicle tires are of two types radial and bias.

Market Insights

The Global Light Commercial Vehicle Tire Market is projected to grow at a CAGR of around 3.5% during the forecast period, i.e., 2023-28. This is due to the factors like the easy availability of vehicle investment schemes by various governments & key market players, the growing e-commerce sector, the increasing number of multiple infrastructural projects, and the flooding logistics around the globe.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR(2023-28)	3.5%
Regions Covered	North America: USA, Canada, Mexico
	Europe: Germany, UK, France, Italy, Spain, The Netherlands, Rest of Europe
	Asia-Pacific: China, Japan, India, Thailand, Indonesia, Rest of Asia Pacific
	South America: Brazil, Argentina, Columbia, Rest of South America
	Middle East & Africa: Saudi Arabia, The UAE, Egypt, South Africa, Nigeria, Ethiopia, Rest of The Middle East & Africa
Key Companies Profiled	Bridgestone Corporation, Compagnie Générale des Établissements Michelin SCA, Continental AG, Goodyear Tire & Rubber Corporation, The Yokohama Rubber Co., Ltd., Toyo Tire Corporation, Pirelli, Hankook Tire & Technology Co., Ltd., Kumho Tire, Sumitomo Rubber Industries, Ltd., Zhongce Rubber Group Co., Ltd., Others
Unit Denominations	USD Million/Billion

Another industry ascribing to the increase in the demand for the LCV vehicle is the agricultural sector. Europe has experienced fundamental policy changes by the European Union. Under the policy, it has increased the maximum support that can be availed by individual farmers to USD 22,388 over three years. This would help the farmers to avail more funds through support and also help the agricultural segment to grow in the coming period as the regulation are slated to come into effect after 2022. With the agriculture sector showing growth, the transportation of agricultural products is anticipated to increase which would result in creating more demand for light commercial vehicles in the years to come. Moreover, the presence of various LCV manufacturing plants in North America is one of the major factors proving ample boost to the demand for LCV tires. Some of the developments have been noticed in the North America Light Commercial Vehicle Tire market which is expected to boost the demand in the forecasted period of 2023-2028. For instance:

In 2022, Hankook Tire & Technology Co., Ltd. Tire to Invest nearly USD1.6 billion in Tennessee Plant Expansion.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Global Light Commercial Vehicle Tire Market Trends & Insights
Global Light Commercial Vehicle Tire Market Dynamics
1. Drivers
2. Challenges
Global Light Commercial Vehicle Tire Market Regulations & Policies
Global Light Commercial Vehicle Tire Market Hotspots & Opportunities
Global Light Commercial Vehicle Tire Market Outlook, 2018-2028
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 Truck
    2. Light Bus
    3. Pickup Trucks and Vans
  2. By Demand
    1. OEM
    2. Replacement
  3. By Tire Type
    1. Radial
    2. Bias
  4. By Rim Size
    1. Up to 15”
    2. 15.1-16"
    3. 16.1" to 17"
    4. 17.1" to 18"
    5. Above 18"
  5. By End Users
    1. Agricultural Transportation
    2. Ecommerce
    3. Dairy & Meat Transportation
    4. Others
  6. By Price Range Per Unit
    1. Up to USD80
    2. USD81 to USD120
    3. USD121 to USD200
    4. Above USD200
  7. By Region
    1. North America
    2. South America
    3. Europe
    4. The Middle East & Africa
    5. Asia Pacific
  8. By Company
    1. Competition Characteristics
    2. Market Share of Leading Companies
North America Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Demand
  3. By Tire Type
  4. By Rim Size
  5. By End Users
  6. By Price Range Per Unit
  7. By Country
    1. The US
    2. Canada
    3. Mexico
3. The US Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
4. Canada Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
5. Mexico Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
South America Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Demand
  3. By Tire Type
  4. By Rim Size
  5. By End Users
  6. By Price Range Per Unit
  7. By Country
    1. Brazil
    2. Argentina
    3. Columbia
    4. Rest of South America
3. Brazil Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
4. Argentina Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
5. Market Share & Analysis
  1. By Vehicle Type
  2. By Demand
  3. By Tire Type
  4. By Rim Size
Columbia Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. By Revenues (USD Million)
2. By Units Sold (Thousand Units)
Market Share & Analysis
1. By Vehicle Type
2. By Demand
3. By Tire Type
4. By Rim Size
Europe Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Demand
  3. By Tire Type
  4. By Rim Size
  5. By End Users
  6. By Price Range Per Unit
  7. By Country
    1. Germany
    2. The UK
    3. France
    4. Spain
    5. Italy
    6. Netherlands
    7. Rest of Europe
3. Germany Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
4. Market Share & Analysis
  1. By Vehicle Type
  2. By Demand
  3. By Tire Type
  4. By Rim Size
The UK Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. By Revenues (USD Million)
2. By Units Sold (Thousand Units)
Market Share & Analysis
1. By Vehicle Type
2. By Demand
3. By Tire Type
4. By Rim Size
France Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. By Revenues (USD Million)
2. By Units Sold (Thousand Units)
Market Share & Analysis
1. By Vehicle Type
2. By Demand
3. By Tire Type
4. By Rim Size
Spain Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. By Revenues (USD Million)
2. By Units Sold (Thousand Units)
Market Share & Analysis
1. By Vehicle Type
2. By Demand
3. By Tire Type
4. By Rim Size
Italy Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. By Revenues (USD Million)
2. By Units Sold (Thousand Units)
Market Share & Analysis
1. By Vehicle Type
2. By Demand
3. By Tire Type
4. By Rim Size
Netherlands Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. By Revenues (USD Million)
2. By Units Sold (Thousand Units)
Market Share & Analysis
1. By Vehicle Type
2. By Demand
3. By Tire Type
4. By Rim Size
The Middle East & Africa Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Demand
  3. By Tire Type
  4. By Rim Size
  5. By End Users
  6. By Price Range Per Unit
  7. By Country
    1. Saudi Arabia
    2. The UAE
    3. Egypt
    4. South Africa
    5. Nigeria
    6. Ethiopia
    7. Rest of The Middle East & Africa
3. Saudi Arabia Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
4. The UAE Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
5. Egypt Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
6. South Africa Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
7. Nigeria Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
8. Ethiopia Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
Asia Pacific Light Commercial Vehicle Tire Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Demand
  3. By Tire Type
  4. By Rim Size
  5. By End Users
  6. By Price Range Per Unit
  7. By Country
    1. China
    2. Japan
    3. India
    4. Thailand
    5. Indonesia
    6. Rest of Asia Pacific
3. China Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
4. Japan Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
5. India Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
6. Thailand Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
7. Indonesia Light Commercial Vehicle Tire Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. By Units Sold (Thousand Units)
  2. Market Share & Analysis
    1. By Vehicle Type
    2. By Demand
    3. By Tire Type
    4. By Rim Size
Global Light Commercial Vehicle Tire Market Key Strategic Imperatives for Growth & Success
Competition Outlook
1. Competition Matrix
  1. Brand Specialization
  2. Target Markets
  3. Target End Users
  4. Research & Development
  5. Strategic Alliances
  6. Strategic Initiatives
2. Company Profiles
  1. Bridgestone Corporation
  2. Compagnie Générale des Établissements Michelin SCA
  3. Continental AG
  4. Goodyear Tire & Rubber Corporation
  5. The Yokohama Rubber Co., Ltd.
  6. Toyo Tire Corporation
  7. Pirelli
  8. Hankook Tire & Technology Co., Ltd.
  9. Kumho Tire
  10. Sumitomo Rubber Industries, Ltd.
  11. Zhongce Rubber Group Co., Ltd.
  12. 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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