Future Outlook of Commercial Vehicle Tire Market: Growth Drivers, Demand Trends, 5.29% CAGR Projection by 2028

MarkNtel Advisors who is leading market research company, has recently published a research report, titled Global “Commercial Vehicle Tire Market”. The report is estimated historical data, base year and forecast period and the projections are made for the next five years, i.e., 2023-28. The data, facts, and figures are sourced from reliable platforms, including government portals, white papers, and others.

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Market Study Period

Historical Data: 2018-21

Base Year: 2022

Forecast Period: 2023-28

CAGR (2023-2028): 5.29%

Global Commercial Vehicle Tire Market Insights:

The Global Commercial Vehicle Tire Market is projected to grow at a CAGR of around 5.29% during the forecast period, i.e., 2023-28. The report covers each and every aspect of the market in detail, offering actionable insights to the stakeholders. We extensively cover key trends, opportunities, possible challenges, and major growth drivers for the industry. The report also highlights the role and involvement of governments and other relevant factors that promote market growth.

Global Commercial Vehicle Tire Market Drivers:

Mounting Sales of Agricultural Vehicle Tires, Pushed by Farm Mechanization Trends: Agriculturally deprived economies have begun to incorporate farm machinery equipped with the IoT and automation techniques in order to ramp up their yields. Due to labor shortages and the increased need for enhanced agricultural productivity, farm mechanization trends are gaining traction in various countries worldwide and, in turn, augmenting the demand for heavy agricultural machinery, such as tractors, combines, & harvesters, among others, which require reliable & durable tires for heavy-duty operations.

Moreover, the growing proliferation of precision farming that involves the use of GPS & various sensors to collect data on the exactness of water, fertilizers, pesticides, & herbicides required to achieve the most yield-per-acre of land is another prominent aspect accelerating the demand for agricultural vehicle tires, such as IF (Increased Flexion) & VF (Very-High Flexion) farm tires, which are equipped with features to facilitate precise movements & farming operations, help decrease soil compaction, and increase yields, consequently driving the Global Commercial Vehicle Tire Market.

Explore the Complete Commercial Vehicle Tire Market Analysis Report - https://www.marknteladvisors.com/research-library/commercial-vehicle-tire-market.html

Which segments are covered in the Commercial Vehicle Tire Market Research Report?

• By Vehicle Type

• Light Commercial Vehicle

• Light Truck

• Light Bus

• Pickup Trucks and Vans

• Medium & Heavy Commercial Vehicle

• Truck

• Bus

• By Tire Type

• Radial

• Bias

• By Price Category

• Budget

• Economy

• Premium

• By Sales Channel

• Multi-brand Stores

• Exclusive Outlets

• Online

• By Demand Type

• OEM

• Aftermarket

• By Application

• Cargo Transportation

• Public Transportation

• Oil & Gas Transportation

• Others (Construction Material Transportation, Towing, etc.)

• By Tire Size

• Light Commercial Vehicle

• 225/75R16

• 245/75R16

• 245/75R17

• 265/70R17

• Others (265/75R16, 285/70 R17, etc.)

• Medium & Heavy Commercial Vehicle

• 295/75R22.5

• 225/70R19.5

• 295/90R20

• 295/80R22.5

• Others (11R22.5, 11R24.5, 245/70R19.5, etc.)

• By Region

• North America

• South America

• Europe

• Middle East & Africa

• Asia-Pacific

Top 10 Key Brands/Players in the Commercial Vehicle Tire Market

Our analysts have closely analyzed leading players within the industry, providing stakeholders with valuable insights into the competitive landscape. This enables them to formulate strategic tactics based on the comprehensive data compiled in the report. The information encompasses recent developments, mergers and acquisitions, product/service launches, expansion plans, and revenue-generating opportunities. Notable entities featured in the report include:

• Bridgestone Corporation

• Compagnie Générale des Établissements Michelin SCA

• Continental AG

• The Goodyear Tire & Rubber Company

• The Yokohama Rubber Company Ltd.

• Pirelli & C. S.p.A

• Hankook Tire & Technology

• Kumho Tire

• Sumitomo Rubber Industries, Ltd.

• Zhongce Rubber Group Co. Ltd.

• CEAT Limited

• MRF Tyres

• JK Tyre & Industries

• Apollo Tyres Limited

• Others

For a Customized Analysis Report, Just Drop Your Inquiry Here – https://www.marknteladvisors.com/query/request-customization/commercial-vehicle-tire-market.html

Frequently Asked Questions

1. Which companies dominate the Commercial Vehicle Tire Market in terms of market share?

2. What is the projected market size of Commercial Vehicle Tire Market in 2028?

3. What key factor is anticipated to propel the Commercial Vehicle Tire Market by 2028?

4. How big is the Commercial Vehicle Tire Market?

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1. https://plaza.rakuten.co.jp/marketpulse/diary/202401230001/

2. https://plaza.rakuten.co.jp/marketpulse/diary/202401230000/

3. https://plaza.rakuten.co.jp/marketpulse/diary/202401220000/

4. https://plaza.rakuten.co.jp/marketpulse/diary/202401220001/

5. https://plaza.rakuten.co.jp/marketpulse/diary/202401190000/

6. https://plaza.rakuten.co.jp/marketpulse/diary/202401190001/

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