Heavy-Duty Tires market size was valued at US$ 31760 million in 2023 and is estimated to reach US$ 25650 million by 2030 with a CAGR of -3.0% during review period.
According to Publisher’s latest study, the global Heavy-Duty Tires market size was valued at US$ 31760 million in 2023. With growing demand in downstream market, the Heavy-Duty Tires is forecast to a readjusted size of US$ 25650 million by 2030 with a CAGR of -3.0% during review period.
Market Overview
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The research report highlights the growth potential of the global Heavy-Duty Tires market. Heavy-Duty Tires are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Heavy-Duty Tires. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Heavy-Duty Tires market. Heavy-duty tire is tire sepcially used for heavy-duty vehicles.
Key Features:
Market Drivers: Growing Infrastructure and Construction Projects: One of the main factors propelling the heavy-duty tire market is the expansion of infrastructure and construction projects worldwide. Construction equipment needs sturdy and dependable tires for these projects.
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Sunny Keshri
Research Analyst
Growth in the Mining Industry: The need for heavy-duty tires that can withstand challenging mining conditions is being driven up by the mining industry's expansion, especially in areas with abundant mineral resources.
Agricultural Mechanization: The need for heavy-duty tires in the agriculture sector is being driven by the growing adoption of mechanized farming operations and modern agricultural equipment.
Expansion of Logistics and Transportation: Due to e-commerce and international trade, the logistics and transportation sector is expanding, which is driving up demand for heavy-duty tires for commercial trucks and trailers.
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Technological Advancements: The performance and longevity of heavy-duty tires are being improved by technological advancements in tire manufacturing, such as the creation of tires that are durable and resistant to punctures.
Growing Need for Environmentally Friendly Tires: The market is expanding due to consumer demand for eco-friendly tires composed of sustainable and recyclable materials as well as increased awareness of environmental sustainability.
Challenges: High Production Costs: The high costs of manufacturing procedures and raw materials involved in the production of heavy-duty tires may act as a deterrent to market expansion.
Environmental Concerns: The tire industry faces difficulties due to the environmental effects of tire production and disposal, including problems with waste management and carbon emissions.
Price fluctuations for raw materials, such as synthetic and natural rubber, can have a significant effect on production costs and profitability.
Technical Complexity: Developing and producing high-performance heavy-duty tires demands a great deal of experience and capital.
Disruptions in the Supply Chain: Production and market expansion may be impacted by disruptions in the supply chain for completed goods and raw materials, which are made worse by international crises and geopolitical conflicts.
Market Forecasts and Future Outlook: The expanding logistics and transportation sector, technological developments in tires, and rising demand from the mining and construction industries are all predicted to fuel the strong growth of the worldwide heavy-duty tire market between 2024 and 2030. Sustained growth will need addressing issues like high production costs and environmental concerns. The market presents ample prospects for innovation, forays into nascent markets, and the creation of environmentally conscious and sustainable tires.
Opportunities: Tires that are Eco-Friendly and Sustainable: Developing tires that are eco-friendly and sustainable, including those composed of recycled materials and bio-based rubber, can both meet regulatory requirements and draw in customers who care about the environment.
Growth into Emerging Markets: There is a lot of room for expansion in emerging markets, where there is a growing need for mining and construction equipment as well as growing industrial activity.
Technological Innovations: Heavy-duty tire performance and longevity can be improved by utilizing tire technology improvements, such as smart tires with embedded sensors for real-time monitoring.
Emphasis on Retreading: Creating and advertising tire retreading services can provide heavy-duty tire users with affordable, environmentally friendly options that increase tire longevity and cut down on waste.
Strategic Alliances: Establishing alliances with mining operators, OEMs, and construction firms can increase market share and spur innovation.
Improved Aftermarket Services: Long-term market growth and customer happiness can be increased by providing full aftermarket services, which include maintenance, repairs, and technical support.
Market Segmentation:
Heavy-Duty Tires market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. In terms of product, Rim Diameter ?29 inch is the largest segment, with a share over 60%. And in terms of application, the largest application is Heavy Duty Truck Tires followed by OTR Tires.
1. Segmentation by type
• Rim Diameter ?29 inch
• 29 inch?Rim Diameter?39 inch
• 39 inch?Rim Diameter?49 inch
• Rim Diameter ?49 inch
2. Segmentation by application
• Heavy Duty Truck Tires
• OTR Tires
• Agricultural Tires
Regional Insight: Latin America: The market in Latin America is growing steadily, driven by economic development, increasing urbanization, and rising investments in mining and construction projects. Brazil and Mexico are leading markets.
Middle East & Africa: The Middle East & Africa region presents growth opportunities driven by economic diversification, urban development, and increasing investments in infrastructure and industrial projects. The UAE and South Africa are notable markets with significant potential.
Latin America: Economic development, expanding urbanization, and increased investments in mining and construction projects are driving the region's market's steady growth. The two largest markets are Mexico and Brazil.
Middle East and Africa: Due to economic diversification, urbanization, and rising infrastructure and industrial project investments, the Middle East and Africa region offers growth prospects. Notable markets with substantial potential are South Africa and the United Arab Emirates.
Asia Pacific is the largest market, with a share over 40%, followed by Europe and North America, both have a share over 40% percent.
1. Americas
• United States
• Canada
• Mexico
• Brazil
2. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
3. Europe
• Germany
• France
• UK
• Italy
• Russia
4. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape: Global Heavy-Duty Tires key players include Bridgestone, Michelin, Goodyear, Continental, Zhongce Rubber etc. Global top five manufacturers hold a share over 50%.
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Bridgestone
• Michelin
• Goodyear
• Continental
• Zhongce Rubber
• Apollo
• Chem China
• Double Coin Holdings
• Guizhou Tire
• Titan
• Prinx Chengshan
• Trelleborg
• Pirelli
• Yokohama Tire
• BKT
• Linglong Tire
• Xugong Tyres
• Triangle
• Hawk International Rubber
• Nokian
• Shandong Taishan Tyre
• Carlisle
• Shandong Yinbao
• Sumitomo
• Doublestar
• Fujian Haian Rubber
• JK Tyre
• Specialty Tires
• Techking Tires
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Heavy-Duty Tires Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Heavy-Duty Tires by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Heavy-Duty Tires by Country/Region, 2019, 2023 & 2030
2.2 Heavy-Duty Tires Segment by Type
2.2.1 Rim Diameter ?29 inch
2.2.2 29 inch?Rim Diameter?39 inch
2.2.3 39 inch?Rim Diameter?49 inch
2.2.4 Rim Diameter ?49 inch
2.3 Heavy-Duty Tires Sales by Type
2.3.1 Global Heavy-Duty Tires Sales Market Share by Type (2019-2024)
2.3.2 Global Heavy-Duty Tires Revenue and Market Share by Type (2019-2024)
2.3.3 Global Heavy-Duty Tires Sale Price by Type (2019-2024)
2.4 Heavy-Duty Tires Segment by Application
2.4.1 Heavy Duty Truck Tires
2.4.2 OTR Tires
2.4.3 Agricultural Tires
2.5 Heavy-Duty Tires Sales by Application
2.5.1 Global Heavy-Duty Tires Sale Market Share by Application (2019-2024)
2.5.2 Global Heavy-Duty Tires Revenue and Market Share by Application (2019-2024)
2.5.3 Global Heavy-Duty Tires Sale Price by Application (2019-2024)
3 Global Heavy-Duty Tires by Company
3.1 Global Heavy-Duty Tires Breakdown Data by Company
3.1.1 Global Heavy-Duty Tires Annual Sales by Company (2019-2024)
3.1.2 Global Heavy-Duty Tires Sales Market Share by Company (2019-2024)
3.2 Global Heavy-Duty Tires Annual Revenue by Company (2019-2024)
3.2.1 Global Heavy-Duty Tires Revenue by Company (2019-2024)
3.2.2 Global Heavy-Duty Tires Revenue Market Share by Company (2019-2024)
3.3 Global Heavy-Duty Tires Sale Price by Company
3.4 Key Manufacturers Heavy-Duty Tires Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Heavy-Duty Tires Product Location Distribution
3.4.2 Players Heavy-Duty Tires Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
3.6 New Products and Potential Entrants
3.7 Mergers & Acquisitions, Expansion
4 World Historic Review for Heavy-Duty Tires by Geographic Region
4.1 World Historic Heavy-Duty Tires Market Size by Geographic Region (2019-2024)
4.1.1 Global Heavy-Duty Tires Annual Sales by Geographic Region (2019-2024)
4.1.2 Global Heavy-Duty Tires Annual Revenue by Geographic Region (2019-2024)
4.2 World Historic Heavy-Duty Tires Market Size by Country/Region (2019-2024)
4.2.1 Global Heavy-Duty Tires Annual Sales by Country/Region (2019-2024)
4.2.2 Global Heavy-Duty Tires Annual Revenue by Country/Region (2019-2024)
4.3 Americas Heavy-Duty Tires Sales Growth
4.4 APAC Heavy-Duty Tires Sales Growth
4.5 Europe Heavy-Duty Tires Sales Growth
4.6 Middle East & Africa Heavy-Duty Tires Sales Growth
5 Americas
5.1 Americas Heavy-Duty Tires Sales by Country
5.1.1 Americas Heavy-Duty Tires Sales by Country (2019-2024)
5.1.2 Americas Heavy-Duty Tires Revenue by Country (2019-2024)
5.2 Americas Heavy-Duty Tires Sales by Type
5.3 Americas Heavy-Duty Tires Sales by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Heavy-Duty Tires Sales by Region
6.1.1 APAC Heavy-Duty Tires Sales by Region (2019-2024)
6.1.2 APAC Heavy-Duty Tires Revenue by Region (2019-2024)
6.2 APAC Heavy-Duty Tires Sales by Type
6.3 APAC Heavy-Duty Tires Sales by Application
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Heavy-Duty Tires by Country
7.1.1 Europe Heavy-Duty Tires Sales by Country (2019-2024)
7.1.2 Europe Heavy-Duty Tires Revenue by Country (2019-2024)
7.2 Europe Heavy-Duty Tires Sales by Type
7.3 Europe Heavy-Duty Tires Sales by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Heavy-Duty Tires by Country
8.1.1 Middle East & Africa Heavy-Duty Tires Sales by Country (2019-2024)
8.1.2 Middle East & Africa Heavy-Duty Tires Revenue by Country (2019-2024)
8.2 Middle East & Africa Heavy-Duty Tires Sales by Type
8.3 Middle East & Africa Heavy-Duty Tires Sales by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Heavy-Duty Tires
10.3 Manufacturing Process Analysis of Heavy-Duty Tires
10.4 Industry Chain Structure of Heavy-Duty Tires
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Heavy-Duty Tires Distributors
11.3 Heavy-Duty Tires Customer
12 World Forecast Review for Heavy-Duty Tires by Geographic Region
12.1 Global Heavy-Duty Tires Market Size Forecast by Region
12.1.1 Global Heavy-Duty Tires Forecast by Region (2025-2030)
12.1.2 Global Heavy-Duty Tires Annual Revenue Forecast by Region (2025-2030)
12.2 Americas Forecast by Country
12.3 APAC Forecast by Region
12.4 Europe Forecast by Country
12.5 Middle East & Africa Forecast by Country
12.6 Global Heavy-Duty Tires Forecast by Type
12.7 Global Heavy-Duty Tires Forecast by Application
13 Key Players Analysis
13.1 Bridgestone
13.1.1 Bridgestone Company Information
13.1.2 Bridgestone Heavy-Duty Tires Product Portfolios and Specifications
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