Commercial Truck Tire Market Report 2024 (Global Edition)

Global Commercial Truck Tire Market Report 2024 Market Size Split by Truck Type (Light Truck, Heavy Truck), by Tire Applications (Long-Haul Transport, Regional Transport, Light & Medium Transport, Tim...

Commercial Truck Tire Market Report Description

We have various report editions of Commercial Truck Tire Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Commercial Truck Tire Market

The commercial truck tire market features intense competition among key players. These companies continually innovate to improve tire durability, fuel efficiency, and performance, catering to diverse customer needs. May 2022: Bridgestone launched R192E all-position radial tires for e-buses. These tires offer ultra-low rolling resistance and high load capacity, which aid in increasing the range and allow the vehicle to operate at maximum capacity on a single charge.

(Source:https://www.bridgestoneamericas.com/en/press-release-details.en.2022.bridgestone-launches-electric-bus-tire-r192e)

Top Companies Market Share in Commercial Truck Tire Industry: (In no particular order of Rank)

• Bridgestone
• MICHELIN
• Goodyear
• Continental
• ZC Rubber
• Sumitomo Rubber
• Double Coin
• Pirelli
• Aeolus Tyre
• Sailun jinyu Group
• Cooper tire
• Hankook
• YOKOHAMA
• Giti Tire
• KUMHO TIRE
• Triangle Tire Group
• Cheng Shin Rubber
• Linglong Tire
• Toyo Tires
• Xingyuan Group
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Commercial Truck Tire Market

Which Region Dominates the Commercial Truck Tire Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America emerges as the dominant region in the commercial truck tire market due to the increasing freight transportation demands and the expansion of the construction and logistics sectors. Technological advancements in tire materials and designs also contribute to market expansion. Moreover, stringent regulations regarding fuel efficiency and emissions further shape the regional market landscape.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in the commercial truck tire market due to expanding transportation infrastructure and economic development. Additionally, technological advancements in tire manufacturing and increasing adoption of radial tires are further fueling market growth across the region.

The current report Scope analyzes Commercial Truck Tire Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Commercial Truck Tire Market

According to Cognitive Market Research, the global commercial truck tire market size was estimated at USD 35251.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 14100.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031. In North America, the commercial truck tire market exhibits a promising landscape characterized by growing demand for transportation services due to economic expansion fuels tire replacement and maintenance needs. Additionally, stringent regulations regarding safety and environmental standards push for the adoption of technologically advanced and fuel-efficient tires. Moreover, the expansion of e-commerce and logistics industries increases the demand for commercial vehicles, thus driving the market for truck tires in the region.

• According to Cognitive Market Research, the US had a major share in the commercial truck tire market, with a market size of USD 11125.28 million in 2024. The market is projected to grow at a CAGR of 3.5% during the forecast period. The demand is amplified by the nation's expansion of e-commerce and logistics industries.
• The Canadian commercial truck tire market had a market share of USD 1692.06 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. Canada's growing demand for transportation services fuels this market's growth.
• The Mexico commercial truck tire market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 1283.14 million in 2024.

Europe Commercial Truck Tire Market

According to Cognitive Market Research, the global commercial truck tire market size was estimated at USD 35251.2 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 10575.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031. In Europe, the commercial truck tire market presents a dynamic landscape characterized by regulatory mandates for fuel efficiency and safety standards that stimulate demand for advanced tire technologies. Additionally, increasing awareness about environmental sustainability encourages the adoption of eco-friendly tire options. Market players' focus on innovation and product development further enhances competitiveness in this dynamic landscape.

• The United Kingdom's commercial truck tire market had a market share of USD 1776.66 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period. Sales of commercial truck tires are witnessing an upswing due to the increasing focus on safety and reliability.
• The French commercial truck tire market is projected to grow at a CAGR of 3.2% during the forecast period, reaching a market size of USD 972.93 million in 2024.
• According to Cognitive Market Research, the German market for commercial truck tires was valued at USD 2093.92 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period. In Germany, commercial truck tire sales surged due to growing demand for commercial vehicles.
• The Italian commercial truck tire market is projected to grow at a CAGR of 3.4% during the forecast period, reaching a market size of USD 909.48 million in 2024.
• The Russian commercial truck tire market is projected to grow at a CAGR of 3.0% during the forecast period, reaching a market size of USD 1639.18 million in 2024.
• The Spanish commercial truck tire market is projected to grow at a CAGR of 3.1% during the forecast period, reaching a market size of USD 867.18 million in 2024.
• The Luxembourg commercial truck tire market is projected to grow at a CAGR of 4.1% during the forecast period, reaching a market size of USD 327.84 million in 2024.
• The Portugal commercial truck tire market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 222.08 million in 2024.
• The Greece commercial truck tire market is projected to grow at a CAGR of 4.3% during the forecast period, reaching a market size of USD 126.90 million in 2024.
• The Rest of Europe's commercial truck tire market is projected to witness growth at a CAGR of 2.7% during the forecast period, with a market size of USD 1639.18 million in 2024

Asia Pacific Commercial Truck Tire Market

According to Cognitive Market Research, the global commercial truck tire market size was estimated at USD 35251.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 8107.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031. In the Asia Pacific region, the commercial truck tire market exhibits robust growth prospects driven by rapid urbanization and industrialization, which are boosting demand for freight transportation. Moreover, the expansion of e-commerce and logistics sectors in the region further fuels demand for commercial truck tires. Additionally, advancements in tire technology, such as enhanced durability and fuel efficiency, are influencing market growth.

• According to Cognitive Market Research, the China commercial truck tire market size was valued at USD 3648.50 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Commercial truck tire sales surged in China due to the advancements in tire technology, such as enhanced durability and fuel efficiency.
• The Japan commercial truck tire market is projected to grow at a CAGR of 6.0% during the forecast period, reaching a market size of USD 1118.87 million in 2024.
• The Indian commercial truck tire market had a market share of USD 972.93 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. Demand is augmented by India's expansion of e-commerce and logistics sectors.
• The South Korean commercial truck tire market is projected to grow at a CAGR of 6.6% during the forecast period, reaching a market size of USD 810.78 million in 2024.
• The Australian commercial truck tire market is projected to grow at a CAGR of 7.2% during the forecast period, reaching a market size of USD 421.60 million in 2024.
• The Southeast Asia commercial truck tire market is projected to grow at a CAGR of 8.5% during the forecast period, reaching a market size of USD 559.44 million in 2024.
• The Rest of the Asia Pacific commercial truck tire market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 575.65 million in 2024

South America Commercial Truck Tire

According to Cognitive Market Research, the global commercial truck tire market size was estimated at USD 35251.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 1762.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031. In Latin America, the commercial truck tire market showcases growth prospects driven by factors such as infrastructure development, expanding logistics and transportation sectors, increasing demand for goods, and a rise in construction projects. Furthermore, government initiatives promoting trade and commerce further boost the market. Overall, a combination of economic growth, infrastructure expansion, and evolving transportation needs propel the commercial truck tire market in Latin America.

• According to Cognitive Market Research, the Brazilian commercial truck tire market was valued at USD 754.38 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. Commercial truck tire sales flourish in Brazil due to the increasing demand for goods and a rise in construction projects.
• The Argentina commercial truck tire market had a market share of USD 296.11 million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period. Argentina's government initiatives promoting trade and commerce augment the demand.
• The Colombian commercial truck tire market is projected to grow at a CAGR of 4.7% during the forecast period, reaching a market size of USD 156.87 million in 2024.
• The Peru commercial truck tire market is projected to grow at a CAGR of 5.1% during the forecast period, reaching a market size of USD 144.53 million in 2024.
• The Chile commercial truck tire market is projected to grow at a CAGR of 6.7% during the forecast period, reaching a market size of USD 126.90 million in 2024.
• The Rest of the Latin American commercial truck tire market is projected to witness growth at a CAGR of 4.0% during the forecast period, with a market size of USD 283.77 million in 2024

Middle East and Africa Commercial Truck Tire Market

According to Cognitive Market Research, the global commercial truck tire market size was estimated at USD 35251.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 705.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. MEA, the commercial truck tire market, showcases promising growth prospects driven by factors such as increasing construction activities and infrastructure development, coupled with growing demand for logistics and transportation services. Furthermore, favorable government initiatives and policies aimed at improving road infrastructure and promoting commercial transportation are contributing to the market expansion in the region.

• The GCC Countries' commercial truck tire market is projected to witness growth at a CAGR of 6.0% during the forecast period, reaching USD 301.75 million in 2024. Sales of commercial truck tires flourish due to the expanding automotive industry and rising investments in fleet management solutions.
• The Egypt commercial truck tire market is projected to grow at a CAGR of 5.5% during the forecast period, reaching a market size of USD 74.03 million in 2024.
• The South African commercial truck tire market is projected to grow at a CAGR of 6.2% during the forecast period, reaching USD 111.39 million in 2024. Sales of commercial truck tires flourished in South Africa due to the new policies aimed at improving road infrastructure and promoting commercial transportation.
• The Turkish commercial truck tire market is projected to grow at a CAGR of 4.7% during the forecast period, reaching a market size of USD 60.63 million in 2024.
• The Nigerian commercial truck tire market is projected to grow at a CAGR of 4.3% during the forecast period, reaching a market size of USD 74.03 million in 2024.
• The Rest of the MEA commercial truck tire market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 83.19 million in 2024

Commercial Truck Tire Market Analysis

Commercial Truck Tire Market Truck Type Segment Analysis

According to Cognitive Market Research, light truck stands out as the dominating category. It typically includes vehicles like pickups and vans used for relatively lighter loads and shorter distances.

Heavy truck emerges as the fastest-growing category in the commercial truck tire market. They are designed for heavy-duty applications, such as long-haul transport, construction, and mining.

• Light Truck
• Heavy Truck

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Commercial Truck Tire Industry. Request a Free Sample PDF!

Commercial Truck Tire Market Tire Applications Segment Analysis

According to Cognitive Market Research, the dominating category is long-haul transport. It primarily focuses on long-distance journeys, often through rugged terrain or forestry areas, requiring tires with exceptional durability, traction, and resistance to punctures.

The fastest-growing category in the commercial truck tire market is regional transport. It involves shorter-distance trips within specific geographical areas, demanding tires optimized for high mileage, fuel efficiency, and reliable performance across varied road conditions.

• Long-Haul Transport
• Regional Transport
• Light & Medium Transport
• Timber Transport
• On/Off Road

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Commercial Truck Tire Tire Technologies Segment Analysis

According to Cognitive Market Research, the dominating category is all-season tires. It offers versatility, performing adequately in various conditions throughout the year, from dry roads to light snow. They are engineered to provide a balance of traction, durability, and fuel efficiency, making them suitable for diverse applications.

The fastest-growing category in the commercial truck tire market is winter tires. They are optimized for cold weather conditions, offering superior traction on snow and ice due to specialized rubber compounds and tread patterns.

• All-Season Tires
• Winter Tires
• Summer Tires
• Run-Flat Tires
• Low Rolling Resistance Tires
• Retread Tires

Commercial Truck Tire Distribution Channels Segment Analysis

According to Cognitive Market Research, the dominating category is tire dealers. It typically offers personalized service, expert advice, and physical inspection of tires, catering to customers seeking hands-on assistance and immediate availability.

The fastest growing in the commercial truck tire market is online retail. It provides convenience, extensive product selection, and often competitive pricing, appealing to customers looking for a wide range of options and the ability to compare products easily.

• Tire Dealers and Retailers
• Online Retail
• Direct Sales to Fleets

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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