The global haul truck tire market is anticipated to grow at a CAGR of 7.6 % during the forecast period (2022-2028). The pneumatic category is expected to contribute to the market growth during the forecast period, due to its cheaper cost and improved fuel efficiency compared to solid tires. To keep the tire firm, pneumatic tires are filled with compressed air. Pneumatic tires offer a higher fuel efficiency than solid and polyurethane tires as they have less rolling resistance which is contributing to the market growth during the forecast period.
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Aftermarket haul truck tires can assist reduce fuel consumption, enhance cargo capacity, and improve off-highway performance. Even when crossing rough terrain or transporting heavy objects, it ensures safety. The aftermarket can be used for a variety of things. The tires can be used on ordinary vehicles, such as cars and trucks to improve performance. It also improves the product’s quality by extending its life and lowering rolling resistance. Therefore, the growing usage of haul truck tires in the aftermarket will boost the market growth over the forecast period.
The Asia-Pacific region is expected to hold a significant share in the market. China is a global trade powerhouse and one of the world’s fastest-growing economies. Coal, iron ore, gold, and copper are among the commodities in high demand in the country. As a result, there has been an increase in demand for haul truck tires. The growth in mining production is projected to stimulate demand for new construction machinery in fields, which will fuel demand for mining tires, as existing machinery will get replaced.
One of the major factors driving the growth of the haul trucks tires market is the growing demand for heavy-duty vehicles for freight transportation. The sidewalls of heavy-duty truck tires are built of denser compounds with additional material cushioning. This design enables big weights to be handled at maximum air pressure. Increasing sales of heavy-duty vehicles will boost haul trucks’ tire production over the forecast period.
The haul truck has a driver’s cab as well as a big hauling bed. The bed may tip to dump loads and may have doors that open to allow the contents to be released. Haul trucks have a high weight capacity and a design that allows them to transport exceptionally large loads. The heavy and high-volume nature of the rock, shattered concrete, and other materials found around mining and huge building sites necessitates the use of a specialized haul truck which will further drive the market growth during the forecast period.
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Competitive Landscape-
Artic Investments S.A., Continental AG, Trelleborg AB, Michelin., Mitas, among others.
By Type
- Pneumatic
- Solid
- Polyurethane
By Application
- OEM
- Aftermarket
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Scope of the Report
The research study analyzes the Global Haul Trucks Tire industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Global Haul Trucks Tire Market Report
1. What was the Global Haul Trucks Tire Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Global Haul Trucks Tire Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Global Haul Trucks Tire Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Global Haul Trucks Tire market.
- The market share of the Global Haul Trucks Tire market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Global Haul Trucks Tire market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Haul Trucks Tire market.
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