The global TBR tire market is anticipated to grow at a CAGR of 5.1% during the forecast period (2022-2028). TBR tire are designed for all heavy vehicles. TBR tires are specifically designed for road systems as they offer features such as greater flexibility of sidewalls, greater driving comfort, less heat output of tires at higher speeds, higher resistance, and damage related to treading, and reduced fuel consumption with improved power transmission. The global TBR tire market is growing due to the increase in sales and production of medium-duty trucks and commercial vehicles. The rising implementation of safety technologies like advanced driver assists system features in a commercial vehicle is directly boosting the growth of the TBR tire market. The increasing infrastructure development, the rising investment in the industry, and the surge in demand for technologically advanced trucks and vehicles are further boosting the growth of the market. The increased safety awareness as the axle helps to control the front and back wheels and enhanced stability of the vehicles is propelling the growth of market. The rise in the disposable income of people in emerging economic countries is increasing the growth of the market.
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The global TBR tire market is experiencing a number of trends, which are expected to have a positive impact on the market. Well-known suppliers working in the automotive market across the globe use advanced materials, technologies, and processes to improve the value proposition of their wheels. For instance, in March 2020, Ralson India announced that the company is on the course to expand its product portfolio and dive into the production of TBR tires, mainly for electric buses and trucks.
Some major players in the market include APOLLO TYRES LTD, Bridgestone Corp., Continental AG, Giti Tire Pte. Ltd., Michelin , and The Goodyear Tire & Rubber Co.,among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new launches, to stay competitive in the market. For instance, in December 2019, Apollo Tyres, company announced that the company is likely to enter the TBR tire market in Saudi Arabia and focus on the production of the same to capture the market in the country.
Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Sales Channel
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Shaanxi Hande Axle Co., Ltd, BENTELER International Aktiengesellschaft, Marelli Holdings Co., Ltd., and SINOTRUK(HONG KONG) Ltd. among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Truck & Bus Radial (TBR) Tire Market Report by Segment
By Application
- Truck
- Bus
By Sales Channel
- OEM
- Aftermarket
A full report of Global Truck & Bus Radial (TBR) Tire Market is available at:https://orionmarketreports.com/global-truck-bus-radial-tbr-tire-market/113925/
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