by [150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global TBR tire market was valued at around USD 117 billion in 2020 and is expected to register revenues worth USD 162.19 billion by the end of 2027, growing at an exceptional CAGR of approximately 4.2% between 2020 and 2027.
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TBR Tire Market Growth Factors:
Rising number of accidents globally along with amendments in the global transportation to include safety measure are the prime factors that contribute towards the efficient market growth. TBR tire enhances the vehicle safety and reduces the risk for accidents because of higher grip and related features.
In addition, the government has stringent regulation related to the enhancement of fuel efficiency to control the vehicle emission. TBR tires are the best fit for the above mentioned regulation as they are highly efficient in improving the overall fuel efficiency of the vehicle by reducing the engine effort to control the tire movement on road. Further, they have better grip compared to other type of tires that reduces the energy required in stopping a vehicle.
Apart from the advanced features of TBR tire, several Original Equipment Manufacturers (OEMs) are investing in the TBR tire segment to enhance their feature as well as to incorporate new technologies in them such as tire pressure monitoring, sensors, and many others. Government regulation against low fuel efficiency has also impelled the OEMs to invest prominently in the TBR tire.
TBR Tire Market Report Scope
| Report Highlights | Details |
| Market Size | USD 162.19 Billion by 2027 |
| Growth Rate | CAGR of 4.2% from 2021 to 2027 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2027 |
| Segments Covered | Product, Application, Region |
TBR Tire Market Report Highlights
- North America emerged as the global leader in 2019 because of rapid development in the industrial sector and shifting trend towards online purchasing
- The Asia Pacific exhibits the fastest growth in the overall TBR tire market owing to increasing sale of commercial vehicles in the region
- Based on application, trucking industry holds the major value share in the overall market due to increasing implementation of TBR tires in the advanced and next-generation vehicles
- Public transportation service is the other most important segment that estimated to execute significant growth rate over the coming years
Competition Landscape
The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter.
This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach. This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.
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some of the prominent players in the TBR tire market include:
- Bridgestone Corporation
- Michelin Group
- Yokohama Rubber Company
- Continental AG
- Goodyear Tire & Rubber Company
- ChemChina – Pirelli
- Giti Tire
- Kumho Tire
- Cooper Tire & Rubber Company
- Toyo TireCorporation
- Hankook Tire & Technology Group
TBR Tire Market Segments
By Type
- Drive
- All Position
- Trailer
By Application
- Public Transportation Services
- Trucking Industry
- Urban Use
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
Regional Analysis
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region.
This section analyses region-wise revenue and volume for the forecast period of 2019 to 2027. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global TBR tire market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the TBR tire market.
The report includes country-wise and region-wise market size for the period 2019-2027. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2027.
Why should you invest in this report?
If you are aiming to enter the global TBR tire market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for TBR tire are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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