Bias Tire Market Size is Expected to Reach by USD 25.76 billion, Rising at a Market Growth of 13.46% CAGR between 2022 to 2027
NEW YORK, Aug. 21, 2023 -- The growth of the Bias Tire market depends on various factors, including the increasing demand for bias tires in the agriculture equipment market, a rise in the sale of passenger vehicles, and an increase in the production and sales of two-wheelers. The market report is segmented by Type (general bias tires and bias belted tires), Distribution Channel (OEM and aftermarket), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
Technavio's report provides insights into the Bias Tire Market's forecast for the year 2022 to 2027, offering comprehensive analysis on market size, segmentation by type and distribution channel, key geographic regions, drivers, trends, challenges, and major companies, to aid companies in understanding and strategizing the market dynamics.
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Key Drivers |
Key Trends |
Challenges |
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Growing adoption of advanced technology in agriculture |
The expansion of online marketplaces is driving tire e-retailing |
Tire manufacturing processes release hazardous air pollutants |
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Increased production and sales of two-wheelers |
Original Equipment Manufacturers (OEMs) are increasing investments in e-commerce platforms |
Emissions of volatile organic compounds (VOCs) during tire manufacturing can have adverse health effects |
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Sales of passenger vehicles and two-wheelers are on the rise globally |
Leading tire brands are adapting to market changes |
Adhering to strict emission standards, such as the National Emission Standards for Hazardous Air Pollutants (NESHAP) |
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The US, China, India, Japan, and Germany are major contributors to market growth |
Stringent regulations addressing hazardous air pollutants from tire manufacturing |
Competing against low-priced tires from Asia, particularly in cost-conscious markets |
Key regions worldwide are driving the Bias Tire Market's growth
Asia-Pacific (APAC) region will contribute around 32% to the global market expansion during the forecast period. APAC, including countries like China, India, and Japan, serves as a prominent tire manufacturing region due to its flourishing automotive industry, urbanization, and rising disposable income. North America, Europe, and other regions are also significant drivers, increasing vehicle sales, demand in the agriculture equipment sector, and a surge in two-wheeler production and sales.
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The research analysis provided by Technavio also contains an in-depth study of the market's competitive landscape and data on major companies, including:
- Balkrishna Industries Ltd.
- BLACKSTONE RUBBER INDUSTRIES PVT. LTD.
- Bridgestone Corp.
- Coker Tire
- Continental AG
- DANANG RUBBER JSC
- Dewan Tyres Ltd
- Dunlop Aircraft Tyres Ltd
- Furukawa Electric Co. Ltd
- GTR TYRES
- GUIZHOU TYRE CO. LTD
- JK Tyre and Industries Ltd
- Kesoram Industries Ltd
- Kyoto Japan Tire Group
- Lotus Rubber Industries
- Michelin Group
- Salsons Impex Pvt. Ltd
- Singla Polymers
- The Goodyear Tire and Rubber Co
- VIDYA DISTRIBUTORS AND AGENCIES PVT. LTD.
The rapidly growing segment within the Bias Tire Market is driven by the increasing demand for bias tires in the agriculture equipment sector. This surge is fueled by the adoption of advanced technology in modern farming, leading to higher sales and production of agricultural machinery such as tractors. As technology becomes integral to farming practices, the need for specialized equipment with robust tires is increasing, resulting in a significant boost to the growth of this particular market segment.
Bias Tire Market is driven by various factors such as increasing demand for bias tires in the agriculture equipment sector, rising sales of passenger vehicles globally, and a surge in two-wheeler production. Key regions like the Asia-Pacific, North America, and Europe are playing pivotal roles in shaping this growth. However, challenges related to environmental impact and regulatory compliance should also be addressed. By leveraging the insights from this report, companies can navigate market dynamics and position themselves strategically for success in this evolving landscape. Buy the detailed report now, to make informed decisions.
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Automotive Airless Tire Market: The automotive airless tire market share is expected to increase to USD 251.06 million from 2021 to 2026, at a CAGR of 4.33%. The report extensively covers automotive airless tire market segmentation by material (rubber and plastic) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
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SOURCE Technavio
