March 2025
The commercial tire market is expected to increase from USD 119.89 billion in 2025 to USD 149.47 billion by 2034, growing at a CAGR of 2.48% throughout the forecast period from 2025 to 2034.
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The commercial tire market is a crucial branch of the automotive materials industry. This industry deals in manufacturing and distribution of tires for commercial vehicles. There are different types of tires developed in this sector consisting of radial tires, bias tires and solid tires. These tires are designed for numerous vehicles such as light commercial vehicles, medium commercial vehicles and heavy commercial vehicles. It finds various application in several sectors including transportation, construction, agriculture, mining and some others. The growing demand for commercial vehicles in different parts of the world has contributed to the market expansion. This market is expected to grow drastically with the growth of the tire industry across the globe.
In November 2024, Vishal Pawar, the senior vice president of global sales and supply chain at CEAT made an announcement stating that, “CEAT’s entry into the USA TBR market marks an important milestone for us. We are excited to introduce our range of products developed keeping in mind customer centricity by leveraging our global expertise and local market insights, The products are engineered with advanced technology and tested extensively at our R&D facility and independently with testing agencies in the USA to ensure performance and durability for American trucking professionals.”
North America held the highest share of the commercial tire market. The growing demand for commercial vehicles along with the presence of numerous tire manufacturing brands has boosted the market growth. Also, the rising development in the e-commerce sector coupled with advancements in automotive technology has played a crucial role in shaping the industrial landscape. In North America, the U.S. is the major contributor of this industry. The rise in the number of e-commerce shops and the presence of numerous commercial vehicle companies such as Ford and Chevrolet has driven the market expansion.
The commercial tire market is a highly competitive industry with the presence of several dominating players. Some of the crucial players in this industry consists of Pirelli, Kumho, Dunlop, Bridgestone, Continental, Hankook, Sumitomo, Trelleborg and some others. These companies are constantly engaged in developing tires for commercial vehicles and adopting numerous strategies to maintain their dominant position in this industry.
By Vehicle Type
By Tire
By Application
By Distribution Channel
By Region
March 2025
March 2025
March 2025
March 2025
Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.
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