Global TBR Tires Market Size, Share, Growth Analysis Report - Forecast 2034

TBR Tires Market: Industry Perspective

The global TBR tires market size was worth around USD 17.79 Billion in 2024 and is predicted to grow to around USD 34.74 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 6.92% between 2025 and 2034.

The report analyzes the global TBR tires market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the TBR tires industry.

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TBR Tires Market: Overview

Radial Truck and Bus Tires (TBR) are designed for all types of heavy vehicles. TBR tires are designed primarily for off-road systems as they offer features such as high side adaptability, more ride comfort, less heat generation from the tires at high speeds, the ability to resist tire-related damage, and reduced fuel consumption through the better transmission of energy of vitality from machine to road. TBR tires are mainly used in two industries, trucking services, and public transport.

The global radial tire market for trucks and buses (TBR) has grown significantly in recent years. Extensive road networks in many countries have boosted the production of trucks, buses, and other public transport vehicles, driving the demand for radial tires. The gradual increase in midsize truck production, R&D progress in the production of TBR tires, and initiatives by government agencies to strengthen the transportation sector are driving the growth of the global market. Bridge for trucks and buses (TBR). The higher cost of radial tires than conventional tires hinders development in the worldwide TBR tire market. The burgeoning e-commerce industry and increased transportation and logistics demand are lucrative opportunities for the global TBR tires market.

Key Insights

• As per the analysis shared by our research analyst, the global TBR tires market is estimated to grow annually at a CAGR of around 6.92% over the forecast period (2025-2034).
• Regarding revenue, the global TBR tires market size was valued at around USD 17.79 Billion in 2024 and is projected to reach USD 34.74 Billion by 2034.
• The TBR tires market is projected to grow at a significant rate due to increased freight transportation, need for durable and fuel-efficient tires, and rising commercial vehicle production and fleet expansions.
• Based on Tire Type, the Radial segment is expected to lead the global market.
• On the basis of Application, the Trucks segment is growing at a high rate and will continue to dominate the global market.
• Based on the Sales Channel, the OEM segment is projected to swipe the largest market share.
• By End User, the Commercial Vehicles segment is expected to dominate the global market.
• Based on region, Asia-Pacific is predicted to dominate the global market during the forecast period.

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TBR Tires Market: Growth Drivers

The increasing production of trucks aids the global market growth

The steady increase in the global production of midsize trucks has boosted the demand for TBR tires. The logistics and trucking sectors are expanding rapidly in Asia-Pacific, which has boosted demand for TBR tires in the region. The steady economic expansion following the 2008 financial crisis increased demand for trucks in developed and developing countries. Favorable trade agreements and the entry of commercial vehicle manufacturers in Latin America and Asia-Pacific have boosted demand for TBR tires. Increased consumer awareness about vehicle maintenance, adoption of fleet managers' tire monitoring systems, and expansion of dealer & retail outlets in rural areas will drive the global TBR tires market during the forecast period.

TBR Tires Market: Restraints

The fluctuation of raw material prices may hamper the global market growth

Tire manufacturers rely heavily on raw materials such as natural rubber and Brent oil. Leading producers like Bridgestone grow their own rubber and are better positioned to cope with rising commodity prices and tight supplies. Small tire manufacturers suffered high losses due to fluctuating input prices, which resulted in higher product costs and loss of competitive advantage.

TBR Tires Market: Opportunities

The increasing digital sales platform brings up several growth opportunities

Digital retail is gaining momentum, and tire manufacturers are investing in launching dedicated online portals in addition to selling tires on third-party marketplaces and digital stores. The COVID-19 pandemic has caused tire sales to skyrocket sensor-integrated innovative tires. TRB tires are gaining popularity as fleet owners' awareness of tire health and maintenance schedules increases to prevent vehicle breakdowns.

TBR Tires Market: Segmentation

The global TBR tires market is segregated based on type, application, and region.

By application, the market is divided into bus and truck. Among these, the truck segment dominated the global TBR tire market in 2021. Medium and heavy-duty trucks have higher volumes and contribute a higher share in volume—terrain vehicles. Trucks are widely used for transporting and transporting goods and have been widely adopted in every economy, contributing to the increase in demand for TBR tires.

By sales channel, the market is bifurcated into OEM and aftermarket. Over the forecast period, the aftermarket segment will hold the leading share of the global market. The tire replacement rate is increasing because consumers have raised their awareness of timely vehicle maintenance. Hence, the aftermarket segment is expected to hold a large share of the global market during the forecast period as its market share is increasing in developing countries.

TBR Tires Market: Report Scope

TBR Tires Market: Regional Analysis

The expansion of regional and local market help the Asia Pacific dominate the global market

Asia-Pacific accounted for a large share of the global TBR tire market in 2021. Due to the growing domestic demand, China, India, Japan, and ASEAN have large domestic markets. Presence of a large number of truck & bus manufacturers and a large number of convoys of trucks & buses on the road are likely to drive the regional market growth. TBR tire manufacturers have many facilities in the region due to the availability of natural rubber and low production costs.

TBR Tires Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the TBR tires market on a global and regional basis.

The global TBR tires market is dominated by players like:

• Apollo Tyres
• Balkrishna Industries Limited
• Bridgestone Corporation
• China National Tire & Rubber Co. LTD.
• Continental AG
• Cooper Tire & Rubber Company
• Giti Tire
• The Goodyear Tire & Rubber Company
• Hankook Tire & Technology Co. Ltd.
• Kumho Tire Co Inc
• MICHELIN
• Nokian Tyres plc.
• Pirelli & C.S.p.A.
• Sumitomo Rubber Industries LTD.
• Toyo Tire Corporation
• Yokohama Rubber Industries Co. LTD.
• ZC Rubber
• Prometeon Tyre Group S.R.L.

The global TBR tires market is segmented as follows;

By Tire Type

• Radial
• Bias

By Application

• Trucks
• Buses
• Trailers

By Sales Channel

• OEM
• Aftermarket

By End User

• Commercial Vehicles
• Heavy-Duty Vehicles
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America