The global TBR tires market is experiencing steady growth, driven by favorable trade agreements and a strong commercial vehicle presence in developing regions. Increased awareness of vehicle maintenance, adoption of tire monitoring systems, and expanding retailer networks further fuel demand. Leading manufacturers are investing in digital sales channels and smart tire technology to enhance market reach and profitability.

Wilmington, Delaware, Transparency Market Research Inc. –, Feb. 20, 2025 (GLOBE NEWSWIRE) -- The global Truck and Bus Radial (TBR) tire market (トラック・バス用ラジアル（TBR）タイヤ市場) has been experiencing significant growth, driven by a rise in demand for heavy-duty vehicles, expanding e-commerce, and technological advancements in tire manufacturing. Valued at US$ 14.9 Billion in 2021, the TBR tire market is expected to grow at a CAGR of 6.7% from 2022 to 2031, reaching US$ 29.0 Billion by the end of 2031.

The demand for TBR tires is projected to grow steadily due to favorable trade agreements and the presence of a large commercial vehicle manufacturing base in developing countries. Increased awareness about vehicle maintenance, the adoption of tire monitoring systems by fleet managers, and the expansion of retailer and dealer networks in rural areas are key drivers of this growth.

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Additionally, the demand for TBR tires for heavy-duty vehicles is rising globally, prompting manufacturers to invest in specialized digital stores and smart tire technologies. The increasing demand for commercial vehicles in logistics, transportation, and construction sectors is further bolstering market growth.

This market research report delivers critical insights for manufacturers, investors, and decision-makers, helping them navigate emerging opportunities, competitive threats, and future growth trends.

Key Players -

Key players in the Truck and Bus Radial (TBR) tire market include Apollo Tyres, Balkrishna Industries Limited, Bridgestone Corporation, China National Tire & Rubber Co., Ltd., Continental AG, Cooper Tire & Rubber Company, Giti Tire, The Goodyear Tire & Rubber Company, Hankook Tire & Technology Co. Ltd., Kumho Tire Co., Inc., MICHELIN, Nokian Tyres plc., Sumitomo Rubber Industries, Ltd., Yokohama Rubber Industries Co., Ltd., and Prometeon Tyre Group S.R.L.

Recent Key Developments for Companies-

The Truck and Bus Radial (TBR) tire market is characterized by several key players implementing strategic initiatives to enhance their market positions. Here are some notable companies and their recent developments:

• Bridgestone Americas announced the closure of its LaVergne, Tennessee plant in January 2025, resulting in 700 layoffs. This move aims to optimize business operations and enhance competitiveness.
• Goodyear Tire & Rubber Company completed its acquisition of Cooper Tire & Rubber Company for $2.8 billion in June 2021, aiming to expand its footprint in America and enhance product offerings for SUVs and light trucks.
• Hankook Tire & Technology Co., Ltd. launched the Smart iON AU06+, a TBR tire designed for electric vehicles, focusing on fuel efficiency, fast torque response, and high load support, in October 2022.
• CEAT Limited partnered with Marangoni S.p.A. in July 2023 to boost tire retreading for trucks and buses in India, aiming to extend tire life and reduce environmental impact.

These developments highlight the industry's focus on strategic acquisitions, technological innovation, and sustainability initiatives to strengthen market positions and meet evolving consumer demands.

Key player strategies for growth in TBR market-

Key players in the Truck and Bus Radial (TBR) tire market are implementing several strategies to drive growth and enhance their market positions:

1. Product Innovation and Development:

• Companies are investing in research and development to create advanced tire technologies, such as smart tires and specialized compounds, to improve fuel efficiency, durability, and performance.

2. Strategic Partnerships and Collaborations:

• Forming alliances with other industry players enables companies to expand their product portfolios and enter new markets. For instance, CEAT partnered with Marangoni S.p.A. to enhance tire retreading services in India.

3. Mergers and Acquisitions:

• Acquiring other companies allows for market expansion and diversification. Goodyear's acquisition of Cooper Tire & Rubber Company in 2021 is an example of this strategy.

4. Geographic Expansion:

Expanding operations into emerging markets, particularly in Asia Pacific, enables companies to tap into regions with growing demand for commercial vehicles and tires.

5. Adoption of Advanced Manufacturing Technologies:

• Implementing state-of-the-art manufacturing processes enhances product quality and operational efficiency, contributing to competitive advantage.

By leveraging these strategies, TBR tire manufacturers aim to strengthen their market presence and meet the evolving demands of the transportation industry.

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Growth Drivers:

• E-commerce Expansion: Rapid growth in e-commerce has increased the demand for logistics and transportation, driving the need for TBR tires with enhanced durability and road grip.
• Technological Advancements: Manufacturers are focusing on smart tire development, utilizing advanced materials and integrated sensors to improve safety, durability, and performance.
• Infrastructure Development: Government investments in public transportation and logistics infrastructure are boosting demand for medium and heavy-duty trucks, driving the TBR tire market.

Emerging Market Trends

• Emergence of Smart Tires: Integration of sensors for real-time tire monitoring is becoming popular among fleet managers for predictive maintenance.
• Growth in Aftermarket Sector: Increasing demand for cost-effective replacement tires is driving the growth of the aftermarket segment.
• Online Tire Sales: Leading manufacturers are leveraging digital platforms and third-party marketplaces to expand their reach and enhance customer experience.
• Focus on Fuel Efficiency: Development of low rolling resistance tires to improve fuel efficiency and reduce carbon emissions is a key trend.

Market Segmentation

By Application:

• Truck Segment: Dominates with 58.3% market share in 2021, driven by high demand for medium and heavy-duty vehicles in freight transportation.
• Bus Segment: Expected to grow due to rising public transportation needs and government investments in urban transit infrastructure.

By Sales Channel:

• OEM (Original Equipment Manufacturer): Captures a substantial share due to direct supply agreements with commercial vehicle manufacturers.
• Aftermarket: Accounted for 55.0% market share in 2021, driven by increased demand for replacement tires due to the growing number of on-road trucks and buses.

By Tire Size:

• Less than 15”
• 15” – 20”
• 21” – 30”
• More than 30”

Regional Analysis

1. Asia Pacific:

Leading the global market due to rapid industrialization, strong manufacturing base for rubber, and growing logistics and transportation sectors in China, India, and Japan. Asia Pacific's dominance is expected to continue throughout the forecast period.

2. North America:

Significant market share driven by high demand for commercial vehicles, coupled with advanced tire manufacturing technologies. The rise in e-commerce and logistics activities further contributes to market growth.

3. Europe:

Characterized by a mature market with steady demand for TBR tires, particularly from the logistics and transportation industries. The growing emphasis on sustainability and fuel efficiency is influencing market trends.

4. Middle East & Africa and South America:

Emerging markets with increasing demand for commercial vehicles and infrastructure development projects, contributing to TBR tire market growth.

Future Outlook

The global TBR tire market is poised for substantial growth, supported by the increasing demand for commercial vehicles, technological advancements, and the rising popularity of smart tires. The shift towards e-commerce, coupled with the expansion of logistics networks, will further drive market growth.

Key Market Opportunities:

• Expansion in Emerging Markets: Rapid industrialization and urbanization in Asia Pacific and Latin America offer growth opportunities.
• Smart Tire Innovations: Adoption of IoT and AI technologies in tire manufacturing is expected to drive the market forward.
• Sustainability Initiatives: Growing emphasis on eco-friendly tire solutions presents new avenues for market expansion.

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Why Buy This Report on the Truck and Bus Radial (TBR) Tire Market?

• Comprehensive Market Insights – Gain in-depth analysis of market trends, growth drivers, and challenges shaping the TBR tire industry.
• Competitive Landscape – Understand key players’ strategies, recent developments, and market positioning to stay ahead of the competition.
• Future Growth Forecasts – Access accurate projections for market size, CAGR, and upcoming opportunities to make informed business decisions.
• Regional & Segment Analysis – Identify high-growth regions and key application areas to optimize investment and expansion strategies.
• Technological Advancements – Stay updated on innovations, including smart tires, sustainable materials, and digital sales platforms revolutionizing the industry.
• Investment & Business Planning – Use data-driven insights to guide strategic planning, partnerships, and market entry decisions.

This report is essential for manufacturers, investors, suppliers, and stakeholders looking to capitalize on the expanding TBR tire market.

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