The heavy-duty tires are used in heavy machineries such as construction machinery or mining machinery. These tires are suitable for off-road vehicles that run on soft-terrain. The demand for heavy-duty tires is attributed to the improved focus of governments on construction and infrastructure for smart and megacities. Also, increasing investments in R&D projects and the launch of new technologies may drive the growth of the heavy-duty tire market in the future.
MARKET DYNAMICS
The heavy-duty tire market is anticipated to lucrative growth in the forecast period owing to high demands for construction and manufacturing machinery, coupled with demands from the agriculture sector. Also, increasing investments in the mining sector are likely to propel the growth of the heavy-duty tire market further. On the other hand, economic growth in developed and developing regions would lead to increased construction activities, which is expected to create lucrative opportunities for the key players of the heavy-duty tire market in the coming years.
MARKET SCOPE
The "Global Heavy-duty Tire Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of heavy-duty tire market with detailed market segmentation by application, end user, and geography. The global heavy-duty tire market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading heavy-duty tire market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global heavy-duty tire market is segmented on the basis of type, application, and end user. On the basis of the application the market is segmented as construction machinery, agricultural machinery, mining machinery, and industrial vehicles. The market on the basis of the end user is classified as OEM and aftermarket.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global heavy-duty tire market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The heavy-duty tire market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting heavy-duty tire market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the heavy-duty tire market in these regions.
MARKET PLAYERS
The reports cover key developments in the heavy-duty tire market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from heavy-duty tire market are anticipated to lucrative growth opportunities in the future with the rising demand for heavy-duty tire in the global market. Below mentioned is the list of few companies engaged in the heavy-duty tire market.
The report also includes the profiles of key heavy-duty tire companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- Bridgestone Corporation
- Continental Reifen Deutschland GmbH
- Goodyear Tire & Rubber Co
- JK Tyre & Industries Ltd.
- MICHELIN
- Pirelli & C. SpA
- Sumitomo Rubber Industries Ltd
- Titan International, Inc.
- Trelleborg AB
- Yokohama Rubber Co Ltd
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.