Bias Tire Market Size, Share, Forecast Report 2021-2030
The global Bias Tire market is expected to grow at a CAGR of around 4.2% over the forecast period 2020 to 2030 and expected to reach the market value of around US$ 9.8 Bn by 2030. Rise in sale of passenger and commercial vehicles across the globe is likely to propel the bias tire market across the globe. In addition, increase in small- and medium-scale industries across the globe is expected to boost manufacturing industries, which, in turn, is projected to fuel the bias tire market across the globe. The rate of adoption of agriculture tractors and equipment has increased globally. The surge in the affordability of tractors and income of farmers are driving the demand for bias tires for agriculture tractors, which is anticipated to boost the bias tire market across the globe.
This research report purposes at stressing the most lucrative growth prospects.The aim of the research report is to provide an inclusive valuation of the Bias Tire market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Bias Tire market reportaids in comprehendingmarket structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-downimpact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilaracross various industry verticals. The research reportofferspresent short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lastingtactics for recovery and by region.
Bias Tire market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplish sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Bias Tire Market: Dynamics
Growing acquisition and agreements among leading tire manufacturers across the globe are boosting the bias tire market across the globe. In 2019, MICHELIN acquired 21% stake in a retailer PT Penta Artha in partnership with Indomobil and other private investors. The acquisition of the retailer is estimated to boost the marketing and sales of MICHELIN in Indonesia. China witnessed a surge in both general trade volume and proportion, escalating to 15.69 Trn Yuan. China trade volume accounted for 57.2% of total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN.
Based on vehicle type, the global bias tire market has been segmented into passenger vehicle, light commercial vehicle, heavy commercial vehicle, construction & mining vehicle, agriculture tractor, and industrial vehicle. Agriculture vehicle is likely to be a highly lucrative segment during the forecast period. The rise in demand for agriculture tractors is estimated to drive the demand for bias tire across the globe. In terms of type, the bias belted tire segment accounted for a significant share of the global bias tire market. Rise in construction activities across the globe is likely to increase the demand for heavy vehicles, which is anticipated to boost the bias tire market across the globe.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share.Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Bias Tire Market are:
The global bias tire market include Bridgestone Corporation, MICHELIN, The Goodyear Tire & Rubber Company, Continental AG, Cooper Tire & Rubber Company, YOKOHAMA Rubber CO. Ltd., Pirelli & C S.p.A., JK Tire & Industries Ltd, Sumitomo Tires, Giti Tires, Hankook Tire & Technology Co. Ltd., KUMHO Tire, Apollo Tyres Ltd., Nokian Tyres, Toyo Tires, ZC Rubber, and BKT Tire.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects includingproduct type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2030 and covers subsequent region in its scope:
Global Bias Tire Market: Segmentation
- Bias Tire Market, by Type
- General Bias Tire
- Bias Belted Tire
- Bias Tire Market, by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Construction & Mining Vehicle
- Agriculture Tractor
- Industrial Vehicle
- Bias Tire Market, by Tire Size
- Bias Tire Market, by Sales Channel
By Regional Outlook
- United States
- United Kingdom
- Rest of EU
- Southeast Asia
- Rest of APAC
Central & South America
- Rest of Central & South America
Middle East and Africa
- North Africa
- South Africa