PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1795186
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1795186
Global Truck and Bus Radial Tires Market to Reach US$21.2 Billion by 2030
The global market for Truck and Bus Radial Tires estimated at US$16.3 Billion in the year 2024, is expected to reach US$21.2 Billion by 2030, growing at a CAGR of 4.5% over the analysis period 2024-2030. Truck, one of the segments analyzed in the report, is expected to record a 5.1% CAGR and reach US$15.4 Billion by the end of the analysis period. Growth in the Bus segment is estimated at 2.9% CAGR over the analysis period.
The U.S. Market is Estimated at US$4.4 Billion While China is Forecast to Grow at 8.2% CAGR
The Truck and Bus Radial Tires market in the U.S. is estimated at US$4.4 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$4.4 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.8% and 3.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.
Global Truck and Bus Radial Tires Market - Key Trends & Drivers Summarized
Why Are Radial Tires Preferred in the Commercial Transport Industry?
Radial tires offer superior fuel efficiency, tread life, and safety, making them the top choice for commercial fleets. Their structure, with steel belts at 90 degrees to the direction of travel, provides better traction, less heat generation, and longer mileage under heavy loads. This makes them essential for long-haul trucks and intercity buses.
Their structural integrity allows for reduced rolling resistance, directly translating into better fuel economy and lower CO2 emissions. This performance advantage, combined with regulatory pressure to reduce fleet emissions, is compelling fleet operators to convert fully to radial tire systems. OEMs are also equipping new commercial vehicles with TBRs as standard.
How Are Technology and Fleet Management Strategies Shaping the TBR Market?
Smart tire technology is revolutionizing TBRs. Sensors embedded in tires now provide real-time data on pressure, temperature, and wear, improving safety and enabling predictive maintenance. Fleets using digital monitoring platforms are achieving significant reductions in downtime and maintenance costs.
Material innovations like low-resistance rubber blends and advanced tread patterns are also increasing fuel efficiency and road grip. Retreading technologies have improved dramatically, allowing tires to be reused without sacrificing performance, reducing environmental impact. TBRs are now essential tools in intelligent, connected fleet ecosystems.
The Growth in the Truck and Bus Radial Tires Market Is Driven by Several Factors…
The growth in the truck and bus radial tires market is driven by several factors including expansion of commercial transportation networks, stricter emission regulations, and the integration of IoT in fleet maintenance. Rising e-commerce logistics and infrastructure development are increasing demand for durable tires. OEM mandates and fleet electrification trends are also favoring low-rolling-resistance tire systems. Finally, adoption of smart tire monitoring and retread compatibility is making TBRs more economical and sustainable, driving sustained growth in both replacement and OEM markets.
SCOPE OF STUDY:
The report analyzes the Truck and Bus Radial Tires market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Vehicle Type (Truck, Bus); Distribution Channel (OEM Distribution Channel, Aftermarket Distribution Channel)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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