TBR Tire Market Size to Reach USD 32.1 Billion by 2033 growing at 6.9% CAGR - Exclusive Report by Acumen Research and Consulting

TBR Tire market, valued at USD 17.8 Billion in 2024, is projected to surpass USD 32.1 Billion by 2033, indicating a robust CAGR of 6.9% TBR (truck and bus radial) tires are heavy-duty radial tires made primarily for commercial vehicles and buses, providing increased durability, fuel efficiency, and load-bearing capacity. These tires have several steel belts for increased traction, stability, and wear resistance, making them suitable for long-haul and high-mileage applications. Their improved design offers better heat dissipation, a longer lifespan, and lower rolling resistance, adding to cost savings and sustainability. In the future, TBR tires will incorporate smart technology, including sensors for real-time monitoring of pressure, temperature, and wear to improve fleet efficiency. Demand for eco-friendly and sustainable TBR tires will increase, with producers working on low rolling resistance, reusable materials, and bio-based compounds to lessen environmental effect. TBR Tire Market Statistics The global TBR (truck and bus radial) tire market is expected to generate USD 17.8 billion in 2024, with a projected CAGR exceeding 6.9% from 2025 to 2033 North America dominates the market, reaching USD 9.08 billion in revenue in 2024 Asia-Pacific is set for significant expansion, with a projected CAGR of 7.4% The truck sub-segment holds a 57% market share in 2024 based on application A discernible trend in the TBR tire market is increasing construction activities and infrastructe projects worldwide Download Sample Report Copy : https://www.acumenresearchandconsulting.com/request-sample/900 TBR Tire Market Dynamics Mobility and Urbanization Will Fuel the TBR Tire Market Value As established countries have mostly hit peak car ownership, the middle-class population in emerging economies continues to grow, seeking for greater success. As per IBEF, India's middle class will nearly double to 61% of the total population by 2047, up from 31% in 2020-21, as the country's continued political stability and economic reforms, combined with a sustained annual growth rate of 6% to 7% over the next two and a half decades, will transform it into one of the world's largest markets. The middle class is expected to rise from 432 million people in 2020-21 to 715 million (or 47% of the population) in 2030-31, and then 1.02 billion of India's estimated 1.66 billion people in 2047. With the growing urbanization, the need for vital daily-use products is expected to rise, resulting in a greater reliance on lightweight trucks in commercial applications. To fulfill this expanding demand efficiently and safely, TBR tires play an important role, giving durability and performance advantages, which will drive truck and bus radial (TBR) tire market expansion in the near future. Tighter Government and Environmental Regulation Offer Significant TBR Tire Market Opportunity Climate concerns, political and environmental considerations, as well as government laws, continue to impact the worldwide truck and bus radial (TBR) tire market in terms of production, demand, and usage. The European Union (EU) continues at the vanguard, establishing quality norms that affect tire standards around the world. The implementation of EU pollution restrictions prompted tire makers to develop low rolling resistance tires, promoting widespread acceptance of this technology among major producers. Similarly, the EU's implementation of tire labeling laws has influenced adoption in other markets. Environmental policies to reduce COâ‚‚ emissions and improve fuel efficiency have driven innovation in the TBR tire sector. These rules are hastening the hunt for alternate and sustainable raw materials, which have hitherto faced supply and cost constraints. As a result, this transition provides considerable growth prospects for TBR tires not just in the EU but also in global markets. TBR Tire Market Segmentation The global market for TBR tire has been segmented into, tire axle, application, end-use industry, sales channel, and region. Tire axle is classified into steer tires, drive tires, trailer tires, and all-position tire Application are divided into truck, and bus End-use industry are categorized into trucking industry, public transportation services, and urban use Sales channel are sub-segmented into OEM, and aftermarket The TBR tire market is geographically split into Europe, North America, Latin America, APAC, and the Middle East and Africa TBR Tire Market Regional Outlook In terms of TBR tire market analysis, in 2024, North America, notably the United States, had the greatest share of the truck and bus radial tire market, owing to a well-established transportation industry and the presence of significant manufacturers. With a robust economy, U.S. drivers favor innovative tire technology, especially TBR tires, driving up market demand. Asia-Pacific is experiencing rapid growth in the truck and bus radial tire market. Despite recent worries, China remains the second-largest regional market for TBR tires, in terms of both domestic consumption and exports to worldwide markets. Growth in smaller developing regions is also advancing as a result of increased mobility, economic prosperity, and expanded industrial and transportation infrastructure. South America and the Middle East/Africa are likely to see rapid annual growth, with South America focusing on market expansion and the Middle East/Africa targeting improvements in transportation reliability. TBR Tire Market Players TBR Tire companies profiled in the report include Sumitomo Rubber Industries, Hankook, Bridgestone, Cooper, Michelin, Goodyear, Kumho, Yokohama, Giti, Continental, and Toyo. Buy Now This Report: https://www.acumenresearchandconsulting.com/buy-now/0/900 TBR Tire Market Key Insights Parameter Details Size in 2024 USD 17.8 Billion Forecast by 2033 USD 32.1 Billion CAGR During 2025 - 2033 6.9% Largest Application Segment (% share 2024) Truck– 57% Largest Region Size (2024) North America - USD 9.08 Billion Fastest Growing Region (% CAGR) Asia-Pacific– 7.4% Key Players Covered Sumitomo Rubber Industries, Hankook, Bridgestone, Cooper, Michelin, Goodyear, Kumho, Yokohama, Giti, Continental, and Toyo Request Customization Request Customization Mr. Richard Johnson Acumen Research and Consulting India: +91 8983225533 E-mail: sales@acumenresearchandconsulting.com