September 23, 2021
TBR Tire

TBR Tire Market to Reach US$ 162.19 Billion, Globally, by 2027

Precedence Research has published a new report titled TBR Tire Market (By Type: Drive, All Position, and Trailer; By Application: Public Transportation Services, Trucking Industry, and Urban Use) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027 “, the global TBR tire market size is expected to grow US$ 162.19 Billion by 2027, decelerating at a CAGR of over4.2% from 2020 to 2027. The report contains 150+ pages with detailed analysis.

The global TBR tire market research report gives a brief summary of definitions, size analysis and place of production, sales, applications, types, and major players/key vendors of the TBR tire industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies. The report provides the overall revenue of the global TBR tire Market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

Market Estimations:

Market Was Valued In 2019 US$ 116.70 Billion
Market Is Projected To Grow By 2027 US$ 162.19 Billion
Compound Annual Growth Rate (CAGR) 4.2 percent from 2020 to 2027

TBR tires stands for truck and bus radial that are particularly designed for all vehicles those have length and weight more than 21 feet and 10,000 lbs respectively and are not registered as a recreational vehicle. TBR tires are the best fit for highway transportation system because of its features that include extra-ordinary driving comfort due to adaptable sidewalls, less heat generated when the tires run at a high speed, and less fuel consumed owing to better transfer of energy from machine to the road surface.

Moreover, they provide higher cornering force for better control during cornering andmaneuvering, better structural strength, and smaller braking distance due to larger foot print area. In addition, the TBR tires helps in reducing the total number of accidents along with their consequent losses. Besides this, these tires also featureshigh performance in accounts of rolling resistance, durability, wear, and less operating cost in terms of maintenance and overall life of the tire. Such tires are generally used in two industries that are public transportation services and trucking industry.

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Growth Factors

Rising number of accidents globally along with amendments in the global transportation to include safety measure are the prime factors that contribute towards the efficient market growth. TBR tire enhances the vehicle safety and reduces the risk for accidents because of higher grip and related features. In addition, the government has stringent regulation related to the enhancement of fuel efficiency to control the vehicle emission. TBR tires are the best fit for the above mentioned regulation as they are highly efficient in improving the overall fuel efficiency of the vehicle by reducing the engine effort to control the tire movement on road. Further, they have better grip compared to other type of tires that reduces the energy required in stopping a vehicle.

Apart from the advanced features of TBR tire, several Original Equipment Manufacturers (OEMs) are investing in the TBR tire segment to enhance their feature as well as to incorporate new technologies in them such as tire pressure monitoring, sensors, and many others. Government regulation against low fuel efficiency has also impelled the OEMs to invest prominently in the TBR tire.

COVID-19 Impact on TBR tire Market Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the TBR tire market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Precedence Research’s study predicts gradual recovery for the TBR tire market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Report Highlights

  • North America emerged as the global leader in 2019 because of rapid development in the industrial sector and shifting trend towards online purchasing
  • The Asia Pacific exhibits the fastest growth in the overall TBR tire market owing to increasing sale of commercial vehicles in the region
  • Based on application, trucking industry holds the major value share in the overall market due to increasing implementation of TBR tires in the advanced and next-generation vehicles
  • Public transportation service is the other most important segment that estimated to execute significant growth rate over the coming years

Regional Snapshots

North America occupied the largest market value share in the year 2019 and anticipated to register a considerable growth rate during the analysis period. Stringent norms issued by the government related to load carrying capacity of a commercial vehicle along with significant development in the industrial sector that boosts the logistics & transportation attributed as the prime factors that supports the market growth in the region.

Furthermore, increasing penetration of battery-powered and electric vehicles coupled with the government effort to promote the adoption of such vehicles likely to boost the demand for TBR tires over the coming years. Rising pollution at an alarming rate has forced the government to promote the adoption of vehicle with higher fuel efficiency and electric vehicle; in short, vehicles that releases minimum or negligible amount of harmful gases in the atmosphere.

On the other hand, the Asia Pacific witnessed the highest growth rate over the forthcoming years. This is mainly attributed to the rising spending on the development of road infrastructure coupled with increasing manufacturing facilities because of low cost of raw materials and labor available in the region, particularly in the developing countries such as India and China. In addition, the region offers great potential for the adoption of smart mobility solutions due to supportive policies by the governments of various Asian countries estimated to prominently fuel the market growth.

Key Players & Strategies

The global leaders in the TBR tire industry is highly competitive and still at its development stage owing to large number of players struggling to acquire major market hold in the forthcoming years.

Some of the key players operating in the market are

Key Players & Strategies

The global leaders in the TBR tire industry is highly competitive and still at its development stage owing to large number of players struggling to acquire major market hold in the forthcoming years.

Some of the key players operating in the market are Bridgestone Corporation, Michelin Group, Yokohama Rubber Company, Continental AG, GoodyearTire & Rubber Company, ChemChina – Pirelli, Giti Tire, Kumho Tire, CooperTire & Rubber Company, ToyoTire Corporation, Hankook Tire & Technology Group among others.

Segments Covered in the Report

By Type

  • Drive
  • All Position
  • Trailer

By Application

  • Public Transportation Services
  • Trucking Industry
  • Urban Use

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global TBR Tire Market, By Type

7.1. TBR Tire Market, by Type, 2020-2027
7.1.1. Drive
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. All Position
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Trailer
7.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global TBR Tire Market, By Application

8.1. TBR Tire Market, by Application, 2020-2027
8.1.1. Public Transportation Services
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Trucking Industry
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Urban Use
8.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global TBR Tire Market, Regional Estimates and Trend Forecast

9.1. North America
9.1.1. Market Revenue and Forecast, by Type (2016-2027)
9.1.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Type (2016-2027)
9.1.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Type (2016-2027)
9.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Type (2016-2027)
9.2.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Type (2016-2027)
9.2.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Type (2016-2027)
9.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Type (2016-2027)
9.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Type (2016-2027)
9.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Type (2016-2027)
9.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Type (2016-2027)
9.3.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Type (2016-2027)
9.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Type (2016-2027)
9.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Type (2016-2027)
9.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Type (2016-2027)
9.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Type (2016-2027)
9.4.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Type (2016-2027)
9.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Type (2016-2027)
9.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Type (2016-2027)
9.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Type (2016-2027)
9.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Type (2016-2027)
9.5.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Type (2016-2027)
9.5.4.2. Market Revenue and Forecast, by Application (2016-2027)

Chapter 10. Company Profiles

10.1. Bridgestone Corporation
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Michelin Group
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Yokohama Rubber Company
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Continental AG
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Goodyear Tire & Rubber Company
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. ChemChina – Pirelli
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Giti Tire
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Kumho Tire
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Cooper Tire & Rubber Company
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Toyo TireCorporation
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
10.11. Hankook Tire & Technology Group
10.11.1. Company Overview
10.11.2. Product Offerings
10.11.3. Financial Performance
10.11.4. Recent Initiatives

Chapter 11. Research Methodology

11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions

Chapter 12. Appendix

12.1. About Us
12.2. Glossary of Terms

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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