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Bus Radial Tire Trends and Forecast
The future of the global bus radial tire market looks promising with opportunities in the ICE vehicle and electric and hybrid vehicle markets. The global bus radial tire market is expected to grow with a CAGR of 6.8% from 2024 to 2030. The major drivers for this market are expansion of the e-commerce industry and a strong need for logistics and transportation, technological progress, fuel economy, and safety issues, along with rising adoption of electric buses.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Bus Radial Tire by Segment
The study includes a forecast for the global bus radial tire by rim size, sales channel, propulsion, and region.
Bus Radial Tire Market by Rim Size [Shipment Analysis by Value from 2018 to 2030]:
• Less Than 15
• 15 To 20
• More Than 20
Bus Radial Tire Market by Sales Channel [Shipment Analysis by Value from 2018 to 2030]:
• OEM
• Aftermarket
Bus Radial Tire Market by Propulsion [Shipment Analysis by Value from 2018 to 2030]:
• ICE Vehicles
• Electric And Hybrid Vehicles
Bus Radial Tire Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Bus Radial Tire Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies bus radial tire companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the bus radial tire companies profiled in this report include-
• BKT Industries
• The Goodyear Tire & Rubber Company
• MICHELIN
• Yokohoma Rubber
• Giti Tire
• China National Tyre & Rubber
• Bridgestone
• KUMHO Tire
• Continental
• Sumitomo Rubber Industries
Bus Radial Tire Market Insights
Lucintel forecasts that 15 to 20 is expected to witness highest growth over the forecast period because the mid-size buses, typically equipped with 15 to 20-inch tires, are becoming increasingly popular worldwide, and it offer a balance between capacity and maneuverability, making them ideal for urban public transportation.
APAC will remain the largest region over the forecast period because it is experiencing rapid economic growth, leading to increased urbanization and infrastructural development and this leads to growing demand for public transportation, including buses.
Features of the Global Bus Radial Tire Market
Market Size Estimates: Bus radial tire market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Bus radial tire market size by rim size, sales channel, propulsion, and region in terms of value ($B).
Regional Analysis: Bus radial tire market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different rim size, sales channel, propulsion, and regions for the bus radial tire market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the bus radial tire market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for bus radial tire market?
Answer: The global bus radial tire market is expected to grow with a CAGR of 6.8% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the bus radial tire market?
Answer: The major drivers for this market are expansion of the e-commerce industry and a strong need for logistics and transportation, technological progress, fuel economy, and safety issues, along with rising adoption of electric buses.
Q3. What are the major segments for bus radial tire market?
Answer: The future of the global bus radial tire market looks promising with opportunities in the ICE vehicle and electric and hybrid vehicle markets.
Q4. Who are the key bus radial tire market companies?
Answer: Some of the key bus radial tire companies are as follows:
• BKT Industries
• The Goodyear Tire & Rubber Company
• MICHELIN
• Yokohoma Rubber
• Giti Tire
• China National Tyre & Rubber
• Bridgestone
• KUMHO Tire
• Continental
• Sumitomo Rubber Industries
Q5. Which bus radial tire market segment will be the largest in future?
Answer: Lucintel forecasts that 15 to 20 is expected to witness highest growth over the forecast period because the mid-size buses, typically equipped with 15 to 20-inch tires, are becoming increasingly popular worldwide, and it offer a balance between capacity and maneuverability, making them ideal for urban public transportation.
Q6. In bus radial tire market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period because it is experiencing rapid economic growth, leading to increased urbanization and infrastructural development and this leads to growing demand for public transportation, including buses.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the bus radial tire market by rim size (less than 15, 15 to 20, and more than 20), sales channel (OEM and aftermarket), propulsion (ICE vehicles and electric and hybrid vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Bus Radial Tire Market, Bus Radial Tire Market Size, Bus Radial Tire Market Growth, Bus Radial Tire Market Analysis, Bus Radial Tire Market Report, Bus Radial Tire Market Share, Bus Radial Tire Market Trends, Bus Radial Tire Market Forecast, Bus Radial Tire Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Bus Radial Tire Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Bus Radial Tire Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Bus Radial Tire Market by Rim Size
3.3.1: Less than 15
3.3.2: 15 to 20
3.3.3: More than 20
3.4: Global Bus Radial Tire Market by Sales Channel
3.4.1: OEM
3.4.2: Aftermarket
3.5: Global Bus Radial Tire Market by Propulsion
3.5.1: ICE Vehicles
3.5.2: Electric and Hybrid Vehicles
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Bus Radial Tire Market by Region
4.2: North American Bus Radial Tire Market
4.2.2: North American Bus Radial Tire Market by Propulsion: ICE Vehicles and Electric and Hybrid Vehicles
4.3: European Bus Radial Tire Market
4.3.1: European Bus Radial Tire Market by Rim Size: Less than 15, 15 to 20, and More than 20
4.3.2: European Bus Radial Tire Market by Propulsion: ICE Vehicles and Electric and Hybrid Vehicles
4.4: APAC Bus Radial Tire Market
4.4.1: APAC Bus Radial Tire Market by Rim Size: Less than 15, 15 to 20, and More than 20
4.4.2: APAC Bus Radial Tire Market by Propulsion: ICE Vehicles and Electric and Hybrid Vehicles
4.5: ROW Bus Radial Tire Market
4.5.1: ROW Bus Radial Tire Market by Rim Size: Less than 15, 15 to 20, and More than 20
4.5.2: ROW Bus Radial Tire Market by Propulsion: ICE Vehicles and Electric and Hybrid Vehicles
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Bus Radial Tire Market by Rim Size
6.1.2: Growth Opportunities for the Global Bus Radial Tire Market by Sales Channel
6.1.3: Growth Opportunities for the Global Bus Radial Tire Market by Propulsion
6.1.4: Growth Opportunities for the Global Bus Radial Tire Market by Region
6.2: Emerging Trends in the Global Bus Radial Tire Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Bus Radial Tire Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Bus Radial Tire Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: BKT Industries
7.2: The Goodyear Tire & Rubber Company
7.3: MICHELIN
7.4: Yokohoma Rubber
7.5: Giti Tire
7.6: China National Tyre & Rubber
7.7: Bridgestone
7.8: KUMHO Tire
7.9: Continental
7.10: Sumitomo Rubber Industries
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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