Exploring Commercial Vehicle Tire Market Opportunity, Latest Trends, Demand, and Development By 2028- MarkNtel Advisors
According to Markntel Advisors Report, Commercial Vehicle Tire Market is expected to grow at a significant growth rate, and the analysis period is 2023-2028, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Global Commercial Vehicle Tire
Market Research Report & Summary:
The Global Commercial Vehicle Tire Market is projected to grow at a CAGR of around 5.29% during the forecast
period, i.e., 2023-28.
Time Period
Captured in the Report:
·
Historical
Years: 2018-21
·
Base
Years: 2022
·
Forecast
Years: 2023-2028
Who are the Key Players Operating in the Commercial
Vehicle Tire Market?
The top
companies of the Commercial Vehicle Tire Market ruling the industry
are:
Bridgestone
Corporation, Compagnie Générale des Établissements Michelin SCA, Continental
AG, The Goodyear Tire & Rubber Company, The Yokohama Rubber Company Ltd.,
Pirelli & C. S.p.A, Hankook Tire & Technology, Kumho Tire, Sumitomo
Rubber Industries, Ltd., Zhongce Rubber Group Co. Ltd., CEAT Limited, MRF
Tyres, JK Tyre & Industries, Apollo Tyres Limited, Others
✅In case you missed it, we are
currently revising our reports. Click on the below to get the latest research
data with forecast for years 2025 to 2030, including market size, industry
trends, and competitive analysis. It wouldn’t take long for the team to deliver
the most recent version of the report.
Access the detailed PDF
Sample report – https://www.marknteladvisors.com/query/request-sample/commercial-vehicle-tire-market.html
("Kindly
use your official email ID for all correspondence to ensure seamless engagement
and access to exclusive benefits, along with prioritized support from our sales
team.")
Commercial
Vehicle Tire Industry Recent Developments:
·
In May 2023, Yokohama Off-Highway Tires (YOHT) launched Agri Star II R – I, a radial tire
equipped with SLT (Stratified Layer Technology) that ensures higher lug competency,
and after 40% wear, a multi-angle profile layer of the lug comes in contact
with the ground, resulting in increased contact area at the central portion,
enhanced grip, and better roadability of the tire.
The Commercial Vehicle Tire Market explores the
industry by emphasizing the growth parameters and categorizes including
geographical segmentation, to offer a comprehensive understanding of the market
dynamic. The further bifurcations are as
follows:
-By Vehicle Type
-Light Commercial Vehicle
-Light Truck
-Light Bus
-Pickup Trucks and Vans
-Medium & Heavy Commercial Vehicle
-Truck
-Bus
-By Tire Type
-Radial
-Bias
-By Price Category
-Budget
-Economy
-Premium
-By Sales Channel
-Multi-brand Stores
-Exclusive Outlets
-Online
-By Demand Type
-OEM
-Aftermarket
-By Application
-Cargo Transportation
-Public Transportation
-Oil & Gas Transportation
-Others (Construction Material Transportation, Towing, etc.)
-By Tire Size
-Light Commercial Vehicle
-225/75R16
-245/75R16
-245/75R17
-265/70R17
-Others (265/75R16, 285/70 R17, etc.)
-Medium & Heavy Commercial Vehicle
-295/75R22.5
-225/70R19.5
-295/90R20
-295/80R22.5
-Others (11R22.5, 11R24.5, 245/70R19.5, etc.)
-By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
Access The Full report: https://www.marknteladvisors.com/research-library/commercial-vehicle-tire-market.html
Market Dynamics -Global Commercial
Vehicle Tire Market:
Mounting Sales of Agricultural Vehicle Tires, Pushed by Farm
Mechanization Trends: Agriculturally deprived economies have begun
to incorporate farm machinery equipped with the IoT and automation techniques
in order to ramp up their yields. Due to labor shortages and the increased need
for enhanced agricultural productivity, farm mechanization trends are gaining
traction in various countries worldwide and, in turn, augmenting the demand for
heavy agricultural machinery, such as tractors, combines, & harvesters,
among others, which require reliable & durable tires for heavy-duty
operations.
Moreover, the growing proliferation of precision farming that involves
the use of GPS & various sensors to collect data on the exactness of water,
fertilizers, pesticides, & herbicides required to achieve the most
yield-per-acre of land is another prominent aspect accelerating the demand for
agricultural vehicle tires, such as IF (Increased Flexion) & VF (Very-High
Flexion) farm tires, which are equipped with features to facilitate precise
movements & farming operations, help decrease soil compaction, and increase
yields, consequently driving the Global Commercial Vehicle Tire Market.
Multi-Brand Tire Stores Remain the Most Preferred Purchase Point:
Multi-brand tire stores have gained traction in the past few years owing to the
extensive presence of companies like MRF, Bridgestone, etc., around numerous
countries. The absence of a legal framework to govern the e-commerce industry
in the region has resulted in marginal sales of tires through online platforms.
Moreover, the lack of awareness among individuals about the variety of tires
& specifications that suit their operational requirements is another
prominent factor that has promoted tire sales from multi-brand outlets &
not online platforms.
Need personalized insights? Click here to customize this report- https://www.marknteladvisors.com/query/request-customization/commercial-vehicle-tire-market.html
Why Markntel Advisor Report?
MarkNtel Advisors is a leading consulting, data
analytics, and market research firm that provides an extensive range of
strategic reports on diverse industry verticals. We being a qualitative &
quantitative research company, strive to deliver data to a substantial &
varied client base, including multinational corporations, financial
institutions, governments, and individuals, among others.
We have our existence across the market for
many years and have conducted multi-industry research across 80+ countries,
spreading our reach across numerous regions like America, Asia-Pacific, Europe,
the Middle East & Africa, etc., and many countries across the regional
scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil,
and several others.
For Further Queries:
Contact Us
MarkNtel Advisors
Call us
- +1 628 895 8081, +91 120 4278433
Email at -sales@marknteladvisors.com
Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh - 201301, India
Related Reports:
Comments
Post a Comment