Truck and Bus Radial Tyres Market size was valued at USD 60 Billion in 2024 and is projected to reach USD 90 Billion by 2033, exhibiting a CAGR of 5% from 2026 to 2033.
The Asia Pacific Truck And Bus Radial Tyres Market Is Experiencing Significant Growth, Driven By The Region'S Rapid Industrialization, Expanding Infrastructure, And Increasing Demand For Commercial Transportation. This Growth Is Further Fueled By The Surge In E-Commerce, Particularly In Countries Like China And India, Which Has Led To A Higher Need For Efficient And Reliable Last-Mile Delivery Services. Consequently, Fleet Operators Are Increasingly Opting For Radial Tyres Due To Their Durability, Fuel Efficiency, And Higher Load-Carrying Capacity.
In Terms Of Market Segmentation, The Asia Pacific Truck And Bus Radial Tyres Market Is Divided Into Two Primary Applications: Trucks And Buses. Trucks Account For A Substantial Share Of The Market, Owing To The Extensive Road Freight Activities Across The Region. Buses, On The Other Hand, Are Integral To Public Transportation Systems, Contributing To The Demand For Radial Tyres Designed To Withstand The Rigors Of Frequent Stops And Varying Road Conditions.
The Market Is Also Categorized Based On Product Type Into Replacement Tyres And Original Equipment Manufacturer (Oem) Tyres. Replacement Tyres Are In High Demand Due To The Large Number Of Commercial Vehicles In Operation, Necessitating Regular Tyre Replacements. Oem Tyres Are Supplied To New Vehicles, With Manufacturers Providing Tyres That Meet Specific Performance And Safety Standards Required By Vehicle Producers.
Geographically, China Leads The Asia Pacific Region In Terms Of The Number Of Operational Trucks And Buses. As Of 2022, China Had Over 30.4 Million Trucks And 1.3 Million Buses, Including More Than 421,000 Electric Buses. India Follows With More Than 4.5 Million Operational Trucks And 1.5 Million Buses. This Vast Fleet Size Underscores The Substantial Demand For Truck And Bus Radial Tyres In These Countries.
Leading Tyre Manufacturers In The Asia Pacific Region Include Bridgestone, Michelin, Continental Ag, Goodyear, And Pirelli. These Companies Dominate The Market, Collectively Accounting For Over 60% Of The Total Sales Revenue From The Truck And Bus Tyre Segment. Their Extensive Distribution Networks And Strong Brand Presence Contribute To Their Significant Market Share.
The Average Frequency Of Tyre Replacement In The Asia Pacific Region Is Approximately Once Every Six Months. This High Replacement Rate Is Indicative Of The Demanding Operating Conditions Faced By Commercial Vehicles, Necessitating The Use Of Durable And High-Performance Radial Tyres To Ensure Safety And Efficiency In Transportation.
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Bridgestone
Michelin
Goodyear
Continental
ZC Rubber
Sumitomo Rubber
Xingyuan group
Linglong Tire
Hankook
Double Coin
Prometeon Tyre Group
Aeolus Tyre
Giti Tire
Cheng Shin Rubber
Yokohama
Triangle Tire Group
Sailun Group
KUMHO TIRE
Toyo Tires
By 2030, Asia Pacific is expected to witness significant momentum in the market research industry, aligning with the global projection of surpassing $120 billion, driven by a compound annual growth rate (CAGR) of over 5.8% from 2023 to 2030. The industry in Asia Pacific is being reshaped by technological disruptions, particularly through the adoption of machine learning, artificial intelligence, and advanced data analytics. These technologies provide businesses with predictive analysis and real-time consumer insights, enabling smarter and more precise decision-making. As part of the broader Asia-Pacific region, Asia Pacific is positioned to contribute substantially to the over 35% revenue growth expected from this region. Additionally, the adoption of innovative techniques such as mobile surveys, social listening, and online panels is rapidly gaining ground in Asia Pacific, emphasizing speed, precision, and customization, and driving a new era of data-driven strategies across industries.
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Growing demand for below applications around the world has had a direct impact on the growth of the Asia Pacific Truck and Bus Radial Tyres Market
Light Commercial Vehicles (LCVs)
Medium Commercial Vehicles (MCVs)
Heavy Commercial Vehicles (HCVs)
Bus and Coach Vehicles
Radial Tyres
Bias Ply Tyres
All-Season Tyres
Specialty Tyres (e.g., Winter, Off-Road)
Urban Transportation
Long-Distance Transportation
Construction and Mining
Agricultural Use
Light Load Index (up to 1000 kg)
Medium Load Index (1000 kg to 3000 kg)
Heavy Load Index (above 3000 kg)
OEM (Original Equipment Manufacturer)
Aftermarket
Retail Sales
Online Sales
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Asia Pacific Truck and Bus Radial Tyres 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. Asia Pacific Truck and Bus Radial Tyres Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Asia Pacific Truck and Bus Radial Tyres Market, By Type
6. Asia Pacific Truck and Bus Radial Tyres Market, By Application
7. Asia Pacific Truck and Bus Radial Tyres Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Asia Pacific
Vietnam
8. Asia Pacific Truck and Bus Radial Tyres Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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