Global Heavy Duty Tire Market Overview:
The global Heavy Duty Tire market is expected to grow owing to the rising volume of freight transportation and increased manufacturing operations in developing countries. The Heavy Duty Tire is used to handling heavy loads at maximum air pressure. Growing demand for public transport vehicles will also increase the production of heavy-duty trucks and buses. Some of the key players profiled in the study are Bridgestone (Japan), Continental (Germany), XuzhouArmourRubber (China), Hankook (South Korea), Michelin (France), Mitas (CGS a.s.) (Czech Republic), Sumitomo Rubber Industries Ltd. (Japan), Maitech Tire (Italy) and Goodyear (United States). According to Market Analyst at AMA, the Global Heavy Duty Tire market may see a growth rate of 6.2%
On the basis of geography, the market of Heavy Duty Tire has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. OEMs will boost the Heavy Duty Tire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Construction Machinery will boost the Heavy Duty Tire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Mechanization in the Agricultural Sector
- High Demand from Construction Industry
- Rising Demand from Various End-User Industries
- Demand for Improved Tire Tread Design from Customers
- Huge Demand from Developing Countries due to growth on Construction Industry
- The Adoption of Nanotechnology in the Manufacturing of Heavy-Duty Tire
- Growing Mechanization in Various Sectors in both Developing & Already Developed Regions
Major Market Developments:
On 15th January 2018, YOKOHAMA will expand the YOKOHAMA Groupís global production capacity for off-highway tires by adding new facilities at ATC Tires Pvt. Ltd., the Indian tire manufacturing and sales subsidiary of the Alliance Tire Group (ATG), which YOKOHAMA acquired in July 2016.
On 8th April 2019, Continental launches the first tire optimized for electric buses in city traffic. Increased load index: The new Conti Urban HA3 315/60 R22.5 carries up to eight tons per axle. Even and slow wear thanks to the optimized tread compound and robust casing structure
The global heavy-duty vehicle tire market is moderately concentrated. Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Heavy Duty Tire Manufactures, Heavy Duty Tire Suppliers, Heavy Duty Tire Distributors, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Heavy Duty Tire market on the basis of product  , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Heavy Duty Tire market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Heavy Duty Tire industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Heavy Duty Tire market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.