Truck & Bus Radial Tire Market Size, Share, Trends, Industry Analysis Report: By Application (Trucks and Buses), Sales Channel, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Description

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The global truck & bus radial tire market size is expected to reach USD 36.13 billion by 2034, according to a new study by Polaris Market Research. The report "Global Truck & Bus Radial Tire Market Size, Share, Trends, Industry Analysis Report: By Application (Trucks and Buses), Sales Channel, and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025 - 2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Radial tires, known for their durability, fuel efficiency, and superior performance, have become the preferred choice for commercial vehicles such as trucks and buses. These tires are designed with steel belts that run radially across the tire from bead to bead, offering enhanced strength, flexibility, and heat dissipation compared to bias-ply tires. The demand for radial tires for trucks and buses is increasing due to the growing emphasis on reducing operational costs, improving fuel economy, and ensuring safety in heavy-duty transportation. The truck & bus radial tire market is projected to witness rapid growth in the coming years owing to robust urbanization, industrialization, and the expansion of e-commerce.

The increasing demand for fuel-efficient tires is propelling the truck & bus radial tire market growth. Fleet operators and logistics companies are constantly seeking ways to minimize fuel costs while maintaining high levels of performance and safety. Radial tires, with their lower rolling resistance, play a crucial role in achieving better fuel efficiency and thereby saving fuel costs. These benefits offered by the radial tires encourage bus and truck operators to adopt radial tires.

Governments worldwide are imposing strict emission norms and fuel economy standards, pushing manufacturers to develop tires that align with these regulations. Manufacturers are innovating and producing radial tires with optimized tread designs, lightweight materials, and advanced rubber compounds that meet regulatory norms and enhance fuel efficiency without compromising durability.

Truck & Bus Radial Tire Market Report Highlights

In terms of application, the trucks segment dominated the truck & bus radial tire market in 2024 due to the rapid expansion of logistics and freight transportation services across both developed and emerging economies.

Based on sales channel, the aftermarket segment held the major market share in 2024 due to the high replacement rate of tires in commercial vehicles, especially trucks.

The OEMs segment is expected to grow in the coming years owing to the rising production of new commercial trucks and the increasing focus on vehicle performance and fuel efficiency.

In the global market, Asia Pacific held the largest truck & bus radial tire market share in 2024 due to the rapid growth of commercial transportation and robust infrastructure development across major economies.

The market in North America is expected to grow at the fastest pace during the projected period, owing to high freight volumes and a strong interstate highway system.

Some of the global key market players are Apollo Tires; Balkrishna Industries Limited (BKT); Bridgestone Corporation; Continental AG; CEAT; Giti Tire; Kumho Tire; MICHELIN; Pirelli & C. S.p.A.; Sumitomo Rubber Industries, Ltd.; The Goodyear Tire & Rubber Company; and Yokohama Rubber Corporation.

Polaris Market Research has segmented the truck & bus radial tire market report based on application, sales channel, and region:

By Application Outlook (Revenue, USD Billion, 2020-2034)

Trucks

Buses

By Sales Channel Outlook (Revenue, USD Billion, 2020-2034)

Aftermarket

OEMs

By Regional Outlook (Revenue, USD Billion, 2020-2034)

North America

Canada

Europe

Germany

France

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of Middle East & Africa

Latin America

Mexico

Brazil

Argentina

Rest of Latin America

Product Code: PM5633

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Truck & Bus Radial Tire Market Insights

4.1. Truck & Bus Radial Tire Market - Market Snapshot
4.2. Truck & Bus Radial Tire Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Increasing Commercial Vehicle Road Accidents Globally
  - 4.2.1.2. Rising Industrialization Worldwide
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High cost
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Truck & Bus Radial Tire Market Trends
4.6. Value Chain Analysis

5. Global Truck & Bus Radial Tire Market, by Application

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
5.3. Trucks
- 5.3.1. Global Truck & Bus Radial Tire Market, by Trucks, by Region, 2020-2034 (USD Billion)
5.4. Buses
- 5.4.1. Global Truck & Bus Radial Tire Market, by Buses, by Region, 2020-2034 (USD Billion)

6. Global Truck & Bus Radial Tire Market, by Sales Channel

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
6.3. Aftermarket
- 6.3.1. Global Truck & Bus Radial Tire Market, by Aftermarket, by Region, 2020-2034 (USD Billion)
6.4. OEMs
- 6.4.1. Global Truck & Bus Radial Tire Market, by OEMs, by Region, 2020-2034 (USD Billion)

7. Global Truck & Bus Radial Tire Market, by Geography

7.1. Key Findings
7.2. Introduction
- 7.2.1. Truck & Bus Radial Tire Market Assessment, By Geography, 2020-2034 (USD Billion)
7.3. Truck & Bus Radial Tire Market - North America
- 7.3.1. North America: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
- 7.3.2. North America: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.3.3. Truck & Bus Radial Tire Market - U.S.
  - 7.3.3.1. U.S.: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.3.3.2. U.S.: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.3.4. Truck & Bus Radial Tire Market - Canada
  - 7.3.4.1. Canada: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.3.4.2. Canada: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
7.4. Truck & Bus Radial Tire Market - Europe
- 7.4.1. Europe: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
- 7.4.2. Europe: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.4.3. Truck & Bus Radial Tire Market - UK
  - 7.4.3.1. UK: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.4.3.2. UK: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.4.4. Truck & Bus Radial Tire Market - France
  - 7.4.4.1. France: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.4.4.2. France: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.4.5. Truck & Bus Radial Tire Market - Germany
  - 7.4.5.1. Germany: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.4.5.2. Germany: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.4.6. Truck & Bus Radial Tire Market - Italy
  - 7.4.6.1. Italy: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.4.6.2. Italy: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.4.7. Truck & Bus Radial Tire Market - Spain
  - 7.4.7.1. Spain: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.4.7.2. Spain: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.4.8. Truck & Bus Radial Tire Market - Netherlands
  - 7.4.8.1. Netherlands: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.4.8.2. Netherlands: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.4.9. Truck & Bus Radial Tire Market - Russia
  - 7.4.9.1. Russia: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.4.9.2. Russia: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.4.10. Truck & Bus Radial Tire Market - Rest of Europe
  - 7.4.10.1. Rest of Europe: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.4.10.2. Rest of Europe: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
7.5. Truck & Bus Radial Tire Market - Asia Pacific
- 7.5.1. Asia Pacific: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
- 7.5.2. Asia Pacific: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.5.3. Truck & Bus Radial Tire Market - China
  - 7.5.3.1. China: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.5.3.2. China: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.5.4. Truck & Bus Radial Tire Market - India
  - 7.5.4.1. India: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.5.4.2. India: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.5.5. Truck & Bus Radial Tire Market - Malaysia
  - 7.5.5.1. Malaysia: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.5.5.2. Malaysia: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.5.6. Truck & Bus Radial Tire Market - Japan
  - 7.5.6.1. Japan: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.5.6.2. Japan: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.5.7. Truck & Bus Radial Tire Market - Indonesia
  - 7.5.7.1. Indonesia: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.5.7.2. Indonesia: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.5.8. Truck & Bus Radial Tire Market - South Korea
  - 7.5.8.1. South Korea: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.5.8.2. South Korea: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.5.9. Truck & Bus Radial Tire Market - Australia
  - 7.5.9.1. Australia: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.5.9.2. Australia: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.5.10. Truck & Bus Radial Tire Market - Rest of Asia Pacific
  - 7.5.10.1. Rest of Asia Pacific: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.5.10.2. Rest of Asia Pacific: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
7.6. Truck & Bus Radial Tire Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
- 7.6.2. Middle East & Africa: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.6.3. Truck & Bus Radial Tire Market - Saudi Arabia
  - 7.6.3.1. Saudi Arabia: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.6.3.2. Saudi Arabia: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.6.4. Truck & Bus Radial Tire Market - UAE
  - 7.6.4.1. UAE: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.6.4.2. UAE: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.6.5. Truck & Bus Radial Tire Market - Israel
  - 7.6.5.1. Israel: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.6.5.2. Israel: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.6.6. Truck & Bus Radial Tire Market - South Africa
  - 7.6.6.1. South Africa: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.6.6.2. South Africa: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.6.7. Truck & Bus Radial Tire Market - Rest of Middle East & Africa
  - 7.6.7.1. Rest of Middle East & Africa: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.6.7.2. Rest of Middle East & Africa: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
7.7. Truck & Bus Radial Tire Market - Latin America
- 7.7.1. Latin America: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
- 7.7.2. Latin America: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.7.3. Truck & Bus Radial Tire Market - Mexico
  - 7.7.3.1. Mexico: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.7.3.2. Mexico: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.7.4. Truck & Bus Radial Tire Market - Brazil
  - 7.7.4.1. Brazil: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.7.4.2. Brazil: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.7.5. Truck & Bus Radial Tire Market - Argentina
  - 7.7.5.1. Argentina: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.7.5.2. Argentina: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)
- 7.7.6. Truck & Bus Radial Tire Market - Rest of Latin America
  - 7.7.6.1. Rest of Latin America: Truck & Bus Radial Tire Market, by Application, 2020-2034 (USD Billion)
  - 7.7.6.2. Rest of Latin America: Truck & Bus Radial Tire Market, by Sales Channel, 2020-2034 (USD Billion)

8. Competitive Landscape

8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions

9. Company Profiles

9.1. Apollo Tires
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
9.2. Balkrishna Industries Limited (BKT)
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
9.3. Bridgestone Corporation
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
9.4. CEAT
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
9.5. Continental AG
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
9.6. Giti Tire
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
9.7. Kumho Tir
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
9.8. MICHELIN
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
9.9. Pirelli & C. S.p.A.
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
9.10. Sumitomo Rubber Industries, Ltd.
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
9.11. The Goodyear Tire & Rubber Company
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
9.12. Yokohama Rubber Corporation
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development