Market Research Report
Global Bus Tire Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||759889|
|Published||Content info||118 Pages
Delivery time: 1-2 business days
|Global Bus Tire Market 2019-2023|
|Published: December 4, 2018||Content info: 118 Pages||
Development of specialized tires for electric buses to gain traction in the market. The urgent need to reduce emission levels is helping in the wider adoption of electric vehicles across major economies. The global bus and coaches market is also shifting from conventional buses to electric buses. Technavio's analysts have predicted that the bus tire market will register a CAGR of almost 3% by 2023.
The drop-in rubber prices is allowing tire manufacturers to report higher margins as rubber takes up the maximum portion of the cost incurred in manufacturing a tire.
Retreaded tires for automotive application are tires that allow the replacement of a used tire's tread with a new tread. The growing popularity of retreading tires is a challenge for the global bus tire market.
For the detailed list of factors that will drive and challenge the growth of the bus tire market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Bridgestone and Continental the competitive environment is quite intense. Factors such as the development of specialized tires for electric buses and the falling rubber prices boosting profit margins of tire manufacturers, will provide considerable growth opportunities to bus tire manufactures. Bridgestone, Continental, MICHELIN, Pirelli & C., The Goodyear Tire & Rubber, and THE YOKOHAMA RUBBER are some of the major companies covered in this report.