Heavy-Duty Tire Market size is estimated to be USD 25.89 Billion in 2024 and is expected to reach USD 38.91 Billion by 2033 at a CAGR of 5% from 2026 to 2033.
The global heavy duty tire market was valued at approximately USD 21.5 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030. The demand for heavy duty tires is influenced by the increasing transportation and logistics activities, as well as the expansion of the construction and mining sectors. North America and Europe currently dominate the market, accounting for a significant share of global revenue, driven by the presence of large fleet operators, stringent safety regulations, and the growing adoption of advanced tire technologies. In North America, the heavy duty tire market was valued at around USD 6.5 billion in 2022, while Europe contributed to roughly USD 5.3 billion of the total market size. Additionally, the Asia Pacific region, led by China and India, is expected to experience the highest growth rate, with an anticipated CAGR of 5.7% over the forecast period, owing to rapid urbanization, industrial expansion, and increasing demand for heavy duty vehicles across the region.
The regional analysis of the heavy duty tire market further highlights emerging opportunities in the Latin American and Middle Eastern markets. Latin America accounted for an estimated market share of USD 2.2 billion in 2022 and is projected to grow steadily at a CAGR of 4.0% through 2030, supported by improving infrastructure and increasing demand for transportation services. The Middle East & Africa region is also witnessing a rise in demand for heavy duty tires, with a market value of approximately USD 1.5 billion in 2022, driven by the growth of construction activities and mining operations. The growing adoption of fuel efficient and environmentally friendly tires is expected to further shape the future of these regions, offering new opportunities for manufacturers and suppliers in the heavy duty tire industry.
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Bridgestone
Continental
Xuzhou Armour Rubber
Hankook
Michelin
Mitas
Sumitomo Rubber
MaiTech Tire
Goodyear
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Heavy-Duty Tire Market
Bias Ply Tires
Radial Tires
Solid Tires
Tube Tires
Trucks
Construction Equipment
Agricultural Vehicles
Mining Equipment
Industrial Vehicles
On-Road Applications
Off-Road Applications
Heavy Construction
Agricultural Operations
Mining Operations
Small Size (Up to 20 inches)
Medium Size (21 to 30 inches)
Large Size (31 inches and above)
Original Equipment Manufacturers (OEM)
Aftermarket Retailers
E-commerce Platforms
Tire Distributors and Wholesalers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Heavy-Duty Tire Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Heavy-Duty Tire Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Heavy-Duty Tire Market, By Type
6. Global Heavy-Duty Tire Market, By Application
7. Global Heavy-Duty Tire Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Heavy-Duty Tire Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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