The Truck And Bus Radial (TBR) Tire Market comprises tires designed for commercial vehicles like trucks and buses. TBR tires offer advantages like better fuel efficiency, increased load-carrying capacity, and higher mileage. They provide improved traction, handling, and braking on different road terrains for smooth transportation of goods and people.  

The Global Truck And Bus Radial (TBR) Tire Market is estimated to be valued at US$ 17.96 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 To 2031.  

Key Takeaways 

Key players operating in the Truck And Bus Radial (TBR) Tire are Apollo Tyres, Balkrishna 

Industries Limited, Bridgestone Corporation, China National Tire and Rubber Co., Ltd., 

Continental AG, Cooper Tire and Rubber Company, Giti Tire, The Goodyear Tire and 

Rubber Company, Hankook Tire and Technology Co. Ltd., Kumho Tire Co., Inc., 

MICHELIN, Nokian Tyres plc., Pirelli and C.S.p.A., Sumitomo Rubber Industries, Ltd., 

Toyo Tire Corporation, Yokohama Rubber Industries Co., Ltd., ZC Rubber, Prometeon Tyre Group S.R.L. The growing freight transportation is projected to boost the demand for TBR tires in the forecast period. Rising demand for fuel-efficient tires from truck and bus manufacturers is further expected to drive the market.  

Truck and bus radial (TBR) tire market share is increasing globally due to expanding road freight activities across the world. Asia Pacific, especially China and India, are growing as high-potential markets for TBR tires due to rising vehicular population, increasing road construction, and the flourishing logistics sector in the region. Countries like the US, Brazil, and Germany are also contributing to the global expansion of the TBR tire market. 

Market key trends  

The Truck And Bus Radial (TBR) Tire Market is witnessing growth due to increasing usage of superior quality low rolling resistance tires. Such eco-friendly tires provide reduced fuel consumption along with maintenance of requisite strength and security for vehicles. With growing concerns over emissions, the demand for greener TBR tires is expected to surge significantly over the forecast period thereby driving the overall market growth. 

Porter's Analysis  

Threat of new entrants: Low economies of scale and brand loyalty reduces possibility of new competitors.  

Bargaining power of buyers: Large fleet operators enjoy high bargaining power due to bulk purchasing.  

Bargaining power of suppliers: Commodity nature of raw material like rubber reduces supplier power.  

Threat of new substitutes: Alternatives like airless tires pose potential threat. 

 Competitive rivalry: Intense competition in commodity market pressures margins. 

Geographically

Truck and bus radial (TBR) tire market regions analysis shows that Asia Pacific accounts for over half of global TBR tire market value due to a large number of commercial vehicles. China dominates the region as the largest commercial vehicle manufacturer. North America is another major regional market, led by the US. 

Eastern Europe is the fastest growing market for TBR tires globally driven by rising commercial transportation in developing economies like Russia and Poland catering to infrastructural and industrial growth. Replacement demand also contributes to market expansion aided by fleet upgradation. 

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