Truck & Bus Radial Tire Market Size Worth USD 36.13 Billion by 2034 | CAGR: 6.4%

The global truck & bus radial tire market size is expected to reach USD 36.13 billion by 2034, according to a new study by Polaris Market Research. The report “Global Truck & Bus Radial Tire Market Size, Share, Trends, Industry Analysis Report: By Application (Trucks and Buses), Sales Channel, and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Radial tires, known for their durability, fuel efficiency, and superior performance, have become the preferred choice for commercial vehicles such as trucks and buses. These tires are designed with steel belts that run radially across the tire from bead to bead, offering enhanced strength, flexibility, and heat dissipation compared to bias-ply tires. The demand for radial tires for trucks and buses is increasing due to the growing emphasis on reducing operational costs, improving fuel economy, and ensuring safety in heavy-duty transportation. The truck & bus radial tire market is projected to witness rapid growth in the coming years owing to robust urbanization, industrialization, and the expansion of e-commerce.

Do you have any questions? Would you like to request a sample or make an inquiry before purchasing this report? Simply click the link below: https://www.polarismarketresearch.com/industry-analysis/truck-and-bus-radial-tire-market/request-for-sample

The increasing demand for fuel-efficient tires is propelling the truck & bus radial tire market growth. Fleet operators and logistics companies are constantly seeking ways to minimize fuel costs while maintaining high levels of performance and safety. Radial tires, with their lower rolling resistance, play a crucial role in achieving better fuel efficiency and thereby saving fuel costs. These benefits offered by the radial tires encourage bus and truck operators to adopt radial tires. 

Governments worldwide are imposing strict emission norms and fuel economy standards, pushing manufacturers to develop tires that align with these regulations. Manufacturers are innovating and producing radial tires with optimized tread designs, lightweight materials, and advanced rubber compounds that meet regulatory norms and enhance fuel efficiency without compromising durability.

Truck & Bus Radial Tire Market Report Highlights

• In terms of application, the trucks segment dominated the truck & bus radial tire market in 2024 due to the rapid expansion of logistics and freight transportation services across both developed and emerging economies.
• Based on sales channel, the aftermarket segment held the major market share in 2024 due to the high replacement rate of tires in commercial vehicles, especially trucks.
• The OEMs segment is expected to grow in the coming years owing to the rising production of new commercial trucks and the increasing focus on vehicle performance and fuel efficiency.
• In the global market, Asia Pacific held the largest truck & bus radial tire market share in 2024 due to the rapid growth of commercial transportation and robust infrastructure development across major economies.
• The market in North America is expected to grow at the fastest pace during the projected period, owing to high freight volumes and a strong interstate highway system.
• Some of the global key market players are Apollo Tires; Balkrishna Industries Limited (BKT); Bridgestone Corporation; Continental AG; CEAT; Giti Tire; Kumho Tire; MICHELIN; Pirelli & C. S.p.A.; Sumitomo Rubber Industries, Ltd.; The Goodyear Tire & Rubber Company; and Yokohama Rubber Corporation.

Polaris Market Research has segmented the truck & bus radial tire market report based on application, sales channel, and region:

By Application Outlook (Revenue, USD Billion, 2020-2034)

• Trucks
• Buses

By Sales Channel Outlook (Revenue, USD Billion, 2020-2034)

• Aftermarket
• OEMs

By Regional Outlook (Revenue, USD Billion, 2020-2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America