How big is the Commercial Vehicles Tires Market?

The Commercial Vehicles Tires Market size is expected to reach USD 34.16 billion in 2024 and grow at a CAGR of greater than 3.80% to reach USD 42.72 billion by 2029. Read More

What is the current Commercial Vehicles Tires Market size?

In 2024, the Commercial Vehicles Tires Market size is expected to reach USD 34.16 billion. Read More

Who are the key players in Commercial Vehicles Tires Market?

Bridgestone Corporation, Continental AG, Balkrishna Industries Limited, Trelleborg AB and Michelin Group are the major companies operating in the Commercial Vehicles Tires Market. Read More

Which is the fastest growing region in Commercial Vehicles Tires Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Commercial Vehicles Tires Market?

In 2024, the Asia Pacific accounts for the largest market share in Commercial Vehicles Tires Market. Read More

What years does this Commercial Vehicles Tires Market cover, and what was the market size in 2023?

In 2023, the Commercial Vehicles Tires Market size was estimated at USD 32.86 billion. The report covers the Commercial Vehicles Tires Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Commercial Vehicles Tires Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Commercial Vehicles Tires Market Size & Share Analysis - Industry Research Report

Commercial Vehicles Tires Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Commercial Vehicles Tires Market is Segmented Based On Vehicle Weight (Less Than 3. 5 Tons, Between 3. 5 and 16 Tons, and Greater Than 16 Tons), Application (Construction, Mining, Agriculture, Transport, and Other Applications), Terrain Type (On-Road and Off-Road), Sales Channel (Offline and Online), End-User (OEM and Aftermarket), Material (Natural Rubber, Poly Butadiene Rubber, Styrene Butadiene Rubber, Nylon Cord Fabric, and Wire, Other Materials), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers the Market Size and Forecast in Terms of Value (USD) for all the Above Segments.

Commercial Vehicles Tires Industry Overview

The commercial vehicle tires market is dominated by several key players such as Bridgestone Corporation, Michelin, Titan International, Trelleborg Wheel Systems, Balkrishna Industries Limited, Continental AG, and Others.

Growing construction demand, aftermarket replacement rate, and acquisition activities among key players are driving growth in the market. The rapid expansion of tire manufacturing facilities and investment in research and development across the globe is likely to witness major growth for the market during the forecast period. For instance,

In February 2023, Continental AG launched Agricultural Tire, the VF TractorMaster in size VF900/60R42. The company developed the tire size specifically to be able to carry the weight of agricultural machinery with over 300 horsepower.

In August 2022, Apollo Tires announced the expansion of its new range of truck and bus radial tires, Apollo EnduRace RD NRG, which is a fuel-efficient drive tire for the Indian market. The tires have been rigorously tested in all terrain before making entry into the market. The company claims that the tire offers 5-8% fuel efficiency owing to its four-block design and special-grade raw material making its rolling resistance low.

In March 2022, the Michelin X One Line Energy D2 tire, which has the lowest rolling resistance among its heavy-duty truck drive tires, was unveiled by Michelin. The tire's Regenion tread technology achieves the ideal ratio of grooves and features for wet grip while offering the lowest rolling resistance for fuel efficiency. Linehaul, dry van truckload, and refrigerated freight applications are all suitable for the Michelin X One. Its compact design results in reduced tread squirm and further improves fuel efficiency.