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The bias tire market size is valued to increase USD 6.33 billion, at a CAGR of 4.4% from 2023 to 2028. Growing demand for bias tires in agriculture equipment industry will drive the bias tire market.
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The bias tire industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The bias belted tires segment is estimated to witness significant growth during the forecast period.
In the dynamic and evolving market of tire technology, bias belted tires represent a significant segment, combining elements of both bias and radial tire designs. These tires boast enhanced stability and performance due to the inclusion of additional belt plies, typically made of materials like steel or other reinforcements, placed beneath the tread. The belt, positioned diagonally above and below the tread center line, acts as a protective shield for the tire's carcass. Currently, the tire industry witnesses a substantial focus on improving tread wear resistance, with a reported 25% of tire manufacturers investing in this area.
Furthermore, advancements in curing process control have led to a 17% increase in production efficiency. In the realm of polymer chemistry analysis, a 31% rise in R&D expenditures has been observed, driving innovation in tire compound formulation. Looking ahead, the industry anticipates a 20% surge in demand for finite element analysis and heat dissipation efficiency technologies, as manufacturers strive for improved tire structural analysis and rolling resistance optimization. Additionally, the adoption of sustainable tire materials is projected to expand by 15%, reflecting the growing importance of environmental concerns. Manufacturing process optimization, a critical aspect of the tire industry, is expected to undergo significant advancements, with a projected 28% increase in investment in computer-aided design, polymer blending processes, and tire construction methods.
Furthermore, a 13% rise in research and development efforts is anticipated for material characterization techniques, bead strength measurement, tire pressure monitoring, and other related areas. In the quest for enhanced tire performance, tire companies are investing in various technologies, such as grip enhancement, noise reduction, and vibration damping systems. Silicon dioxide additives, for instance, have gained popularity due to their ability to improve tire durability and rolling resistance. The industry also anticipates a 12% increase in the adoption of defect detection systems, which will help manufacturers maintain high-quality standards and ensure customer satisfaction. In summary, the tire market is undergoing continuous transformation, with a strong emphasis on innovation and efficiency.
The ongoing unfolding of market activities reveals evolving patterns in areas such as tread wear resistance, curing process control, polymer chemistry analysis, and more. These trends underscore the importance of staying informed and adaptable in this dynamic industry.
The Bias belted tires segment was valued at USD 13.69 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 38% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in Asia Pacific (APAC) is experiencing substantial growth due to the expanding automotive industry and escalating demand for vehicles in the region. Major players like Great Wall Motors Company Limited (GWM), Toyota Motor Corporation (Toyota), Hyundai Motor Company (Hyundai), and Tata Motors Limited (Tata Motors) contribute significantly to APAC's tire manufacturing sector, with a presence in China, Japan, South Korea, and India, respectively. The region's population growth, urbanization, and increasing disposable income fuel the demand for both passenger cars and commercial vehicles, leading to a surge in the demand for bias tires.
APAC holds the largest motorcycle industry market share globally, further amplifying the demand for bias tires.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is a dynamic and innovative industry, driven by continuous advancements in tire technology to optimize performance and sustainability. Companies are focusing on optimizing tire compounds for enhanced wet grip and improved rolling resistance through meticulous material selection. Advanced polymer blends are being utilized to enhance tire durability, while finite element modeling is used to assess tire performance under various conditions. Tread wear resistance is being measured using advanced testing methods, and tire vibration characteristics are being analyzed using experimental techniques. The impact of silica fillers on tire properties is being evaluated, and tire heat dissipation is being improved through design optimization.
Innovative tread pattern designs are being employed to reduce tire noise, and advanced simulation tools are being used to predict tire fatigue life. Testing tire resistance to various chemicals and environmental conditions is essential, and understanding the effects of curing parameters on tire properties is crucial for manufacturers. The distribution of reinforcement materials in the tire is being controlled, and tire manufacturing processes are being optimized to improve efficiency. Advanced quality control methods are being implemented for tire production, and sustainable tire materials with improved performance are being developed. Comparatively, a significant portion of research and development efforts, approximately 60%, are dedicated to enhancing the performance of passenger car tires.
In contrast, only 40% of the research and development focus is on commercial vehicle tires. This disparity highlights the growing importance of passenger car tire technology and the potential opportunities for innovation in this sector. In conclusion, the market is a dynamic and innovative industry, driven by continuous advancements in tire technology. Companies are focusing on optimizing tire performance, sustainability, and efficiency through various means, including material selection, design optimization, and testing methods. The market's research and development efforts are primarily focused on passenger car tires, presenting significant opportunities for innovation in this sector.
The bias tire market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the bias tire market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Bias Tire Industry
Companies are implementing various strategies, such as strategic alliances, bias tire market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Balkrishna Industries Ltd. - The company specializes in producing bias tires, such as the Loader Plus L 3 model, which boasts enhanced cut and chip resistance, making it an optimal choice for loading and dozing applications. These tires offer superior performance and durability, catering to the demands of heavy-duty machinery operations.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Bias Tire Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.4% |
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Market growth 2024-2028 |
USD 6.33 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.1 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, and KSA |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Bias Tire Market between 2024 and 2028?
USD 6.33 billion, at a CAGR of 4.4%
What segmentation does the market report cover?
The report is segmented by Type (Bias belted tires and General bias tires), Distribution Channel (OEM and Aftermarket), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)
Which regions are analyzed in the report?
APAC, North America, Europe, South America, and Middle East and Africa
What are the key growth drivers and market challenges?
Growing demand for bias tires in agriculture equipment industry, Environmental issues due to bias tire manufacturing activities
Who are the major players in the Bias Tire Market?
Balkrishna Industries Ltd., BLACKSTONE RUBBER INDUSTRIES PVT. LTD., Bridgestone Corp., CEAT Ltd., 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., and VIDYA DISTRIBUTORS AND AGENCIES PVT. LTD.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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