The heavy-duty tire market is expected to grow in the forecast period. The increasing demand for heavy machinery and equipment for agricultures because of the improved economic environment and standard of living is one of the factors contributing to this growth. The increasing demand for construction and mining has also triggered the growth of the market. The aftermarket and the tire replacement sub-segments also have considerable impact on this growth.
The end-consumers of the heavy-duty tires are the OEM and replacement tires segment of the market. OEMs are the Original Equipment manufacturers who manufacture the high performance tires to match the tire specifications of a particular vehicle’s make and model.
There has been research and development going on for the OTR tires leading to technological development in terms of development of new tread patterns, compounding and casing upgrades.
The market is expected to grow owing to the growth of construction, mining and agricultural equipment industry and the factors like increasing standard of living, industry growth, etc.
The market consists of many international players. The Aftermarket dealers are supposed to be well versed with good knowledge about the products so as to recommend right products to the customers for right purpose. In addition to this, they should have significant knowledge about the factors affecting tire performance and should be able to train their staff for the same.
The heavy-duty tire market is segmented by tire type, application type, end-users and geography
By tire-type, the market is segmented into three segments:
• Small OTR tires
• Large OTR tires
• Giant OTR tires
By application-type, the market is segmented into:
• Engineering and Manufacturing
• Construction and Mining
• Agricultural Machinery
By end-users, the market is segmented into:
• Replacement tires
By geography, the market is segmented into:
• North America
• Latin America
The growing economies are expected to contribute heavily to the growth of the market due to the growth of the industry. These also include the developing countries of the APAC region. The European market is expected to experience a colossal growth in the heavy-duty tire market in the forecast period. North America is expected to show significant growth due to the use of progressive technologies.
The market has a lot of opportunities owing to the road and bridge construction markets. The government funding and supportive government regulations for the infrastructural projects is expected to bring in lots of opportunities for the heavy-duty tire market. The research and development activities are carried out by the key players in the market to bring in new technologies to gain a competitive advantage and increase the market share.
Some of the major players in the market include:
• Michelin Group
• Hankook Tire
• Cooper Tire & Rubber
- Market segments
- Market Drivers, Restraints and Opportunities
- Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage