Strategic Perspectives on Commercial Vehicle Tire Market: Charts Course for 5.29% CAGR, Analysis and Forecast for 2028

vGlobal Commercial Vehicle Tire Market

How big is the Global Commercial Vehicle Tire market?

According to MarkNtel Advisors study, 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.

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Global Commercial Vehicle Tire Market Trend:

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.

Leading Companies in the Global Commercial Vehicle Tire market:

  • 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

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Global Commercial Vehicle Tire Market Segmentation:

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

Among the two, Radial Tires dominate the Global Commercial Vehicle Tire Market, and the same trend is likely during 2023-28.

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.)

Regional/ Countries Insight:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Of all regions globally, Asia-Pacific is expected to emerge as the largest Commercial Vehicle Tire Market during 2023-28.

Note: Should you require specific information beyond the current scope of the report, we are prepared to furnish it as part of our customization services.

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About MarkNtel Advisors:

MarkNtel Advisors is a leading consulting, data analytics, and market research company 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.

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