Global Bus Tires Market 2021-2026

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    GLOBAL BUS TIRES MARKET

     

    INTRODUCTION

    Bus tires are developed and produced to suit stringent regulatory requirements, internal business specifications, vehicle functional properties, and driver requirements.

     

    Modern tire technology combines a unique balance of chemistry, physics, and engineering that can provide drivers with a high level of tire performance that includes safety, dependability, efficiency, extended wear, and comfort.

     

    The best tires for any of the buses are chosen in the same way that many pickup/delivery organizations do. The first choice is depending on the kind of road surface utilized, with pure over-the-road tires preferred on paved areas and mixed service (on/off road) tires used when routes involve any substantial amount of gravel or abrasive surfaces.

     

    infographic: Bus Tires Market, Bus Tires Market Size, Bus Tires Market Trends, Bus Tires Market Forecast, Bus Tires Market Risks, Bus Tires Market Report, Bus Tires Market Share

     

    On unpaved conditions, most pure highway tread tires are susceptible to tread chipping and stone damage, and the danger of casing damage and downtime exposure frequently outweighs the slight additional cost of mixed duty tires.

     

    Tires are made, examined, and tested properly customer safety and welfare. As a result, well maintained tires will have a longer lifespan. The majority of bus tires are radial ply.

     

    With steel body strands that run throughout the tyre roughly orthogonal to the beading, radial ply design gives sidewall elasticity.

     

     

    GLOBAL BUS TIRES MARKET DEVELOPMENTS AND INNOVATIONS

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Apollo Tires forays into truck and bus tyre segment in US, Canada Apollo Tires announced its foray into the truck and bus tyre segment in the US and Canada, following the launch of its passenger vehicle range in the two markets. The commercial vehicle range has been introduced under the Apollo brand although the PV (passenger vehicle) range was launched under the premium European brand, Vredestein last September, the company said in a statement. Global Scale This would enhance better Technologies and production

     

     

    Bridgestone Americas (Bridgestone) unveiled the R192E all-position radial tyre, which is intended for commercial vehicles. Bridgestone claims that the R192E has ultra-low rolling resistance and a high load capacity, allowing for longer daily ranges and more vehicle operation on a single charge while remaining compatible with all bus types.

     

     

    Bridgestone claims that when the R192E is used in conjunction with Bandag retreads, it can help a fleet’s performance while minimising its negative environmental impact.

     

    GLOBAL BUS TIRES MARKET DYNAMICS

    SI No Timeline Company Developments
    1 December 2021 Bridgestone  Bridgestone has announced it will consolidate the manufacturing of truck and bus radial tires in China.
    2 September 2021 Bridgestone Bridgestone has announced that it will be supplying its R156 tyres to Tata’s new electric buses. Tata Motors will be building 150 electric buses for Brihanmumbai Electric Supply and Transport (BEST)
    4 December 2021 Goodyear Goodyear has launched the URBANMAX MCA HL+ tyre to provide a solution for operators seeking to maximise the efficiency of their current fleet and prepare for the future.

     

    Various governments are actively engaging in the logistics and transportation industries. This is due to the fact that both of these sectors are important for accelerating a country’s entire growth.

     

    Commercial vehicle manufacturers’ entry and advantageous trade agreements Various trade treaties between governments and non-governmental organisations are projected to boost market expansion.

     

    Last-mile delivery and the rise of e-commerce significantly increased demand for road transportation. The increased mileage travelled by trucks and buses increases the need for bus radial tires.

     

    Because bus radial tires must be replaced on a regular basis, there is a significant aftermarket demand for them.

     

    Furthermore, considerations such as the trade war between the United States and China, an increase in the production levels of bus radial tires worldwide, and an increase in the number of last-mile deliveries due to the unprecedented growth of the e-commerce sector all have an impact on the global bus tyre market’s expansion.

     

    It is primarily driven by two key factors which includes a rise in the number of buses on the road and an increase in global demand for medium transit buses.

     

    Furthermore, since technology advances at a quick pace, the freight and distribution sector has seen steady advancements over the last two decades.

     

    Furthermore, as a growing number of players in the present global bus tyre market want to increase their international footprint,

     

    infographic: Bus Tires Market, Bus Tires Market Size, Bus Tires Market Trends, Bus Tires Market Forecast, Bus Tires Market Risks, Bus Tires Market Report, Bus Tires Market Share

     

    GLOBAL BUS TIRES MARKET SEGMENTATION

    The Global Bus Tires Market can be segmented into following categories for further analysis.

    Bus Tires Market By Rim Size Type

    • 15 inches and below
    • 15 to 20 inches
    • 20 inches and higher

     

    Bus Tires Market By Vehicle Classification Type

    • Military Buses
    • School Buses
    • Commercial buses
    • Passenger Service Buses
    • Industrial buses

     

    Bus Tires Market By Technology Focus Type

    • Battery Electric Vehicle
    • Conventional Fuel Technology
    • Hybrid Technology

     

    Bus Tires Market By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region

     

    RECENT ACQUISITION IN GLOBAL BUS TIRES MARKET

    Goodyear Tires has officially purchased Cooper Tires. The goal was to become a dominant tyre market leader in the United States. The combined portfolios of both prominent tyre manufacturers will ensure that the customer in the US market is not disappointed.

     

    It will be interesting to watch if this agreement is extended to other parts of the world.  This combination improves Goodyear’s capacity to service more customers throughout the world and increases its scale, allowing it to make larger investments in new mobility and fleet solutions.

     

    Goodyear’s market share in China has more than doubled as a result of this acquisition. It also claims to strengthen ties with regional automakers.

     

    Cooper may also be able to expand its facilities in order to gain more flexibility and improve capital efficiency.

     

    RECENT TECHNOLOGICAL TRENDS IN GLOBAL BUS TIRES MARKET

    Bus tires are being brought into the market with a focus on greater technical advancements. Rubber compounding is a sophisticated discipline that involves combining several basic ingredients to create thermoplastics with precise properties.

     

    Rubber compounds differ based on where they are located and what role they serve in the tyre. Radial bus tires are typically made up of a number of steel belts containing steel cords arranged at opposing inclinations.

     

    Fabric belt plies may also be seen in bias truck tires. Belts add stability to the tread region of the tyre, which improves wear, handling, and adhesion.

     

    Bus tires technologies have started focusing on the electric bus tire production in the market. The tires of an electric bus must be able to hold an abnormally heavy vehicle weight as well as endure the immediate torque applied to the wheels.

     

    As a result, they must have a high grip, be durable, and be capable of supporting a large load. The sturdy casing with high wire layer thickness has already been integrated, and it can certainly manage the weights of a bus.

     

    The tires have also been interlaced with a strong and long-lasting tread made up of a high amount of natural rubber, which boosts durability to cuts, cracks, chipping, chunking, and scratching.

     

    A unique urban bus tread contour arrangement increases endurance and evenness of wear, while the broad tread provides great turning stability and handling.

     

    All through tire’s service life, the high-density interlocking sipes are designed to give good traction and lane keeping capacity, even in severely wet circumstances.

     

    infographic: Bus Tires Market, Bus Tires Market Size, Bus Tires Market Trends, Bus Tires Market Forecast, Bus Tires Market Risks, Bus Tires Market Report, Bus Tires Market Share

    BUS TIRES MARKET COMPETITIVE LANDSCAPE

    SI No Timeline Company Developments
    1 September 2021 BKT  BKT established new production plant in Waluj, in the Indian state of Maharashtra. As a result of BKT’s $56 million investment, the facility’s annual production capacity is around 30,000 MT of Off-Highway tires.
    2 February 2021 Goodyear Goodyear Tire & Rubber Co (GT.O) announced a $2.8 billion acquisition of Cooper Tire & Rubber Co (CTB.N) to expand its portfolio in the high-margin light truck, bus, and SUV markets, as well as strengthen its footprint in North America and China.
    4 November 2021 BKT Balkrishna Industries has committed Rs 2,250 crore in capital expenditure until FY23. This is a tyre company’s largest capex proposal in India for the next 15-18 months.

     

    A much longer tire life assures more miles per tire owing to a thicker sidewall and a stronger casing, as well as the newest rolling resistance technology to assist optimize fuel efficiency and minimize exhaust emissions.

     

    It is also feasible to rethread the tire, resulting in a more durable product. Once it comes to achieving a fleet’s environmental requirements, performance is frequently sacrificed.

     

    Firestone is one of the focused developers of the bus tires on a global scale of operations. It has brought in the FS 400 Tires which are focused on improvising better adaptability to the terrains.

     

    The FS400 Tire is a heavily loaded, all-position tire that is ideal for services available like buses and coaches. Its deep tread, flow-through grooves, and cross-rib sipping provide extended life and grip in all weather patterns, making it ideal for on-highway or inner-city bus operation.

     

    Built for big payloads in intercity and on-highway bus operations. Deep tread, ripple grooves, and cross-rib sipping ensure long tread life and excellent grip in all-weather situations.

     

    Shoulder wear protector ribs help to prevent the onset and propagation of abnormal wear. Stone-rejector platforms aid in the removal of outer sheath stones, resulting in increased retreadability.

     

    Bridgestone is also one of the innovative developers of the coach tires in the market. Grip for all-year use thanks to the use of 3D slats and a high-performance substance.

     

    Excellent performance noises with decreased groove volume and a profile patterning sequence that has been tuned. NanoPro-Tech tread and a tread pattern design with low deformation improve fuel economy.

     

    Temperature regulation of the carcass with an extremely low temperature thanks to cutting-edge cooling fins. Innovative tread design idea improves tire traction on wet roadways by optimising water drainage.

     

    infographic: Bus Tires Market, Bus Tires Market Size, Bus Tires Market Trends, Bus Tires Market Forecast, Bus Tires Market Risks, Bus Tires Market Report, Bus Tires Market Share

     

    The tread compound decreases rolling resistance and energy loss. New high silica tread compositions provide excellent wet traction while maintaining low running temperatures. The mixture’s special mixing method promotes uniform wear and improved wet grip effectiveness.

     

    BUS TIRES MARKET COMPANIES PROFILED

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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