Truck and Bus Radial (TBR) Tire Market Growth Outlook 2025–2034 Key Trends, Insights, and Leading Companies

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The global truck and bus radial (TBR) tire market is set for substantial growth, projected to expand from USD 22.88 billion in 2025 to USD 40.84 billion by 2034, registering a CAGR of 6.65% during the forecast period. This growth is fueled by the rising demand for freight and passenger transportation, expansion of logistics and e-commerce, and increasing international trade.

TBR tires, designed with radial ply construction, offer superior durability, fuel efficiency, load-carrying capacity, and safety compared to bias-ply tires. Their adoption is rising among fleets worldwide due to performance, sustainability initiatives, and cost-efficiency.

Market Highlights

  • Asia-Pacific holds around 55% of the global market share.

  • Latin America is the fastest-growing regional market.

  • Long-haul TBR tires dominate with about 40% share.

  • On/off-road tires are expected to grow fastest.

  • Heavy trucks account for around 45% of the total demand.

  • Aftermarket/replacement leads with 70% share, while OEMs are growing fastest.

  • Tire dealers & retailers dominate distribution with 50% share, but online platforms are expanding rapidly.

  • Standard radial tires lead with 60% share, while smart/connected tires are the fastest-growing.

Key Market Trends in 2025

Product Launches

  • Continental AG introduced a new range of radial tires in India in January 2025, tailored for commercial trucks and buses.

Business Expansion

  • Aztema announced a USD 400 million investment in June 2025 to establish a tire manufacturing facility in Irapuato, Mexico.

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Tire Type Insights

  • Long-haul/highway TBR tires dominate due to their high mileage, fuel efficiency, and cost-effectiveness for long-distance freight operators.

  • On/off-road TBR tires are expanding rapidly, supported by construction, mining, and infrastructure investments.

Vehicle Type Insights

  • Heavy trucks lead the market with about 45% share, driven by logistics and e-commerce growth.

  • Buses and coaches are witnessing the fastest growth due to modernization of public transport and adoption of electric buses.

Application Insights

  • Freight & logistics account for nearly 55% share, supported by global trade expansion.

  • Passenger transport is expected to grow fastest with rising urbanization and government-backed sustainable mobility.

End-User Insights

  • Aftermarket/replacement dominates at 70% share as fleets replace tires frequently.

  • OEMs are growing fastest, driven by new commercial vehicle sales and electrification trends.

Distribution Insights

  • Tire dealers & retailers dominate sales channels with around 50% share.

  • Online tire platforms are growing rapidly with digital adoption and direct-to-fleet sales.

Technology Insights

  • Standard radial tires remain the largest segment due to affordability and performance.

  • Smart and connected radial tires are expected to surge, offering real-time monitoring for efficiency and safety.

Regional Insights

  • Asia-Pacific dominates, led by China, India, and Japan, with growth in logistics, e-commerce, and infrastructure.

  • Latin America is growing fastest, supported by infrastructure upgrades and tourism. Brazil leads the region with strong road freight demand.

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Leading Companies in the Truck and Bus Radial Tire Market

Michelin

About: Michelin, a France-based global tire manufacturer, is renowned for its innovation and sustainability practices.
Products: Offers a wide range of truck, bus, and specialty tires including fuel-efficient and smart TBR tires.
Market Cap: Approx. USD 27 billion (2025).

Apollo Tires

About: Apollo Tires, headquartered in India, is a key player with strong presence across Asia, Europe, and North America.
Products: Manufactures truck and bus radial tires tailored for long-haul, urban, and off-road applications.
Market Cap: Approx. USD 4 billion (2025).

Yokohama Rubber Corporation

About: A leading Japanese tire manufacturer with global operations.
Products: Specializes in commercial TBR tires with advanced durability and eco-friendly designs.
Market Cap: Approx. USD 5.5 billion (2025).

Bridgestone Corporation

About: Bridgestone is the world’s largest tire manufacturer, headquartered in Japan, with operations across all continents.
Products: Offers premium radial tires for trucks and buses, including smart tire technologies.
Market Cap: Approx. USD 39 billion (2025).

Sumitomo Rubber Industries, Ltd.

About: Japanese manufacturer of Dunlop and Falken brands, focusing on performance-driven and eco-friendly tire solutions.
Products: Wide range of TBR tires catering to logistics, passenger transport, and mining industries.
Market Cap: Approx. USD 3.8 billion (2025).

Continental AG

About: German multinational known for its innovation in tire technology and automotive solutions.
Products: Produces advanced radial tires with a focus on smart technologies and sustainability.
Market Cap: Approx. USD 20 billion (2025).

Balkrishna Industries Limited (BKT)

About: India-based manufacturer specializing in off-highway and radial tires.
Products: Supplies on/off-road TBR tires for construction, mining, and agricultural sectors.
Market Cap: Approx. USD 6.5 billion (2025).

Giti Tire

About: Singapore-headquartered company with strong manufacturing and distribution presence across Asia, Europe, and the U.S.
Products: Offers truck and bus radial tires focused on cost efficiency and durability.
Market Cap: Approx. USD 1.5 billion (2025).

Frequently Asked Questions

Q1. What is the expected size of the truck and bus radial tire market by 2034
The market is projected to reach USD 40.84 billion by 2034.

Q2. Which region dominates the global TBR tire market
Asia-Pacific holds the largest share due to its robust logistics and transport industry.

Q3. Which segment of TBR tires is growing fastest
On/off-road TBR tires are expected to grow fastest due to construction and mining activities.

Q4. Why is the aftermarket/replacement segment dominant in the market
Fleet operators replace tires frequently due to heavy load operations and safety concerns, leading to 70 percent market share.

Q5. Who are the leading players in the TBR tire market
Key players include Michelin, Apollo Tires, Yokohama Rubber, Bridgestone, Sumitomo Rubber, Continental, BKT, and Giti Tire.

Source : https://www.towardsautomotive.com/insights/truck-and-bus-radial-tire-market-sizing

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