Truck and Bus Radial Tires Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Truck, Bus), By Sales Channel (OEM, Aftermarket), By Region & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 16.93 Billion
CAGR (2026-2031)	6.77%
Fastest Growing Segment	Truck
Largest Market	Asia Pacific
Market Size (2031)	USD 25.08 Billion

Market Overview

The Global Truck and Bus Radial Tires Market will grow from USD 16.93 Billion in 2025 to USD 25.08 Billion by 2031 at a 6.77% CAGR. Truck and Bus Radial tires are heavy-duty pneumatic casings constructed with steel belts and ply cords running perpendicular to the tread centerline, specifically engineered to provide superior heat dissipation and structural integrity for commercial vehicles. The expansion of this market is primarily propelled by the escalating demand for freight transportation services necessitated by global supply chain activities and the rapid growth of the e-commerce sector. Furthermore, fleet operators are increasingly adopting these tires due to their ability to offer lower rolling resistance and improved fuel economy compared to bias ply alternatives, which directly supports the economic imperative to optimize operational costs.

Despite the positive outlook, the market faces a significant hurdle regarding the volatility of raw material prices, particularly natural rubber and crude oil derivatives, which can unpredictably swell production costs and compress manufacturer profit margins. According to the Automotive Tyre Manufacturers Association, in 2024, export volumes of Truck and Bus Radial tires from India grew by 19 percent during the first half of the fiscal year. This robust performance highlights the strong global demand, yet industry stakeholders must remain agile to mitigate supply chain cost fluctuations to ensure sustained market expansion.

Key Market Drivers

The rising global production and sales of commercial vehicles serve as a primary catalyst for the Truck and Bus Radial (TBR) tires market, directly fueling demand for original equipment fitments. As industrial output recovers and cross-border trade intensifies, logistics companies are expanding their fleets to accommodate higher freight volumes, necessitating a steady supply of durable radial tires that offer better fuel economy and longevity than bias alternatives. This trend is evident in major manufacturing hubs; according to the China Association of Automobile Manufacturers, April 2024, commercial vehicle sales in China surged by 10.1 percent year-on-year to reach 1.03 million units in the first quarter of 2024. This influx of new vehicles creates a ripple effect, eventually expanding the installed base for future replacement cycles. Reinforcing this positive trajectory in the aftermarket, the U.S. Tire Manufacturers Association, December 2024, projected that domestic shipments of replacement truck tires would jump to 23.4 million units for the full year, highlighting sustained consumption in established markets.

Simultaneously, increasing government investments in infrastructure development projects are creating robust demand for specialized radial tires designed for heavy-duty construction applications. Large-scale undertakings such as highway expansion, urban transit networks, and smart city initiatives require fleets of tippers, dumpers, and trailers that rely on radial tires for their superior load-bearing capacity and puncture resistance on rugged terrain. Emerging economies are spearheading this spending to modernize logistics backbones, which directly correlates with tire procurement for construction fleets. For instance, according to the Press Information Bureau, February 2024, the Government of India allocated Rs 11.11 lakh crore for capital expenditure in the 2024-25 fiscal year, marking an 11.1 percent increase specifically aimed at accelerating infrastructure creation. Such substantial financial commitments ensure a long-term pipeline of demand for high-performance radial tires essential for the construction and mining sectors.

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Key Market Challenges

The volatility of raw material prices, specifically regarding natural rubber and crude oil derivatives, stands as a formidable barrier to the consistent expansion of the Global Truck and Bus Radial Tires Market. This instability directly hampers market growth by creating an unpredictable cost structure for manufacturers, which complicates long-term financial planning and pricing strategies. When input costs fluctuate aggressively, manufacturers are frequently compelled to revise product pricing or absorb the financial impact, both of which erode profit margins and reduce the capital available for necessary capacity expansions or R&D investments. Consequently, this economic uncertainty disrupts the supply chain equilibrium, making it difficult for suppliers to guarantee steady delivery schedules to fleet operators who rely on consistent pricing to manage their own operational budgets.

The tangible impact of this raw material instability is evident in recent industrial output figures. According to the Automotive Tyre Manufacturers Association, in 2024, production volumes at specific tire manufacturing facilities witnessed a decline of 10 percent during July due to the acute scarcity and resulting price instability of natural rubber. Such disruptions in manufacturing output not only delay order fulfillment but also dampen the overall market momentum, as the inability to secure essential raw materials at stable prices prevents the industry from fully capitalizing on the escalating demand for freight transportation services.

Key Market Trends

The Integration of IoT Sensors for Real-Time Fleet Monitoring is fundamentally reshaping the market by enabling a transition from reactive repairs to predictive asset management. Fleet operators are increasingly deploying smart tires equipped with embedded RFID tags and sensors that transmit critical data regarding pressure, temperature, and tread wear directly to centralized management systems, thereby minimizing downtime caused by unexpected failures. This technology actively optimizes operational efficiency by preventing under-inflation events that compromise casing integrity. For instance, according to T21 Media, July 2024, in the article 'Michelin Connected Fleets boosts productivity through the use of technology', the implementation of real-time tire pressure monitoring systems can reduce fuel consumption and CO2 emissions by up to 12 percent while significantly decreasing safety-related incidents.

Simultaneously, the Adoption of Bio-Based and Sustainable Manufacturing Materials is gaining traction as manufacturers seek to decouple production from volatile petrochemical supply chains and meet stringent environmental governance goals. Industry leaders are proactively replacing synthetic rubber and carbon black with renewable alternatives, such as silica derived from rice husk ash and plant-based oils, which maintain structural durability while reducing the carbon footprint of the tire. This shift towards circular economy principles is exemplified by recent product innovations; according to Commercial Tyre Business, December 2024, in the 'Goodyear Looks Back on 2024' report, the company's newly introduced EQMAX truck tires are manufactured with up to 55 percent sustainable materials. This trend demonstrates that eco-friendly compositions can successfully meet the rigorous performance demands of heavy-duty transport while ensuring compliance with emerging sustainability mandates.

Segmental Insights

The Truck segment represents the fastest-growing category in the Global Truck and Bus Radial Tires Market, primarily driven by the intensifying demand for freight logistics and cross-border trade. The escalating reliance on road transport for electronic commerce has surged the requirement for commercial vehicles equipped with durable, fuel-efficient radial tires. Additionally, strict efficiency mandates from institutions such as the United States Environmental Protection Agency compel fleet owners to transition toward low-rolling-resistance radial products. This shift allows operators to achieve compliance with environmental regulations while significantly reducing long-term fuel consumption and maintenance expenses.

Regional Insights

Asia Pacific stands as the dominant force in the Global Truck and Bus Radial Tires Market, primarily driven by the extensive commercial vehicle manufacturing capabilities in China and India. This leadership is underpinned by rapid urbanization and substantial government investments in infrastructure, which generate consistent demand for freight and public transportation fleets. Furthermore, the region is witnessing a decisive shift toward radial tires as operators prioritize fuel efficiency and longevity. Stringent regulatory frameworks, such as the quality mandates enforced by the Bureau of Indian Standards (BIS) and China Compulsory Certification (CCC), play a critical role in standardizing production and ensuring high safety benchmarks across the market.

Recent Developments

• In September 2024, Michelin launched two new generations of truck tires, the MICHELIN X LINE ENERGY 3 and MICHELIN X MULTI ENERGY 2, during the IAA Transportation event. Designed for long-haul and regional transport respectively, these tires incorporate advanced materials to reduce rolling resistance and fuel consumption. The company stated that the new long-haul tire achieved superior fuel efficiency ratings compared to competitors, offering potential cost savings for fleet operators. Additionally, the tires were designed to be regrooveable and retreadable, aligning with the industry's push towards sustainability by extending casing life and minimizing environmental impact.
• In September 2024, Continental unveiled three new tire models for the truck and bus sector at the IAA Transportation trade fair in Hanover. The newly introduced Conti EfficientPro 5, Conti Urban NXT, and Conti EcoPlus HT3+ were engineered to deliver high mileage and low rolling resistance, catering to both electric and conventional commercial vehicles. The manufacturer emphasized that these products meet the strict requirements of the EU Taxonomy for fleets, aiming to reduce CO2 emissions significantly. This launch highlighted the company’s commitment to providing sustainable, efficient mobility solutions that help transport companies lower their overall operating costs.
• In June 2024, JK Tyre & Industries introduced a new range of four truck and bus radial tires to meet the evolving demands of the Indian commercial transport sector. The launch included the JETWAY JUM XM, JETWAY JUC XM, and JETSTEEL JDC XD, along with the JETWAY JUXe, which is specifically designed for electric buses. The company’s management announced that these tires were developed with advanced R&D to offer improved durability, fuel efficiency, and lower cost per kilometer. This product expansion aimed to strengthen the manufacturer's leadership in the radial segment and support the transition to sustainable mobility.
• In March 2024, Apollo Tyres officially launched its complete range of long-haul commercial truck tires in the United States market during the TMC Expo. The company showcased its EnduMile series, including steer, drive, and trailer tires, which had been subjected to extensive field testing to ensure suitability for North American road conditions. This rollout marked a significant milestone in the manufacturer's global expansion strategy, aiming to provide fleets with high-quality, cost-effective options. Along with the tires, the company introduced a nationwide service network to ensure reliable support for fleet customers across the region.

Key Market Players

• Apollo Tyres Ltd
• Balkrishna Industries Limited
• Bridgestone Corporation
• China National Tire & Rubber Co., Ltd.
• Continental AG
• Giti Tire Pte Ltd.
• The Goodyear Tire & Rubber Company
• Hankook Tire & Technology Co. Ltd.
• Kumho Tire Co., Inc.
• Pirelli & C. S.p.A

By Application	By Sales Channel	By Region
Truck Bus	OEM Aftermarket	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Truck and Bus Radial Tires Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Truck and Bus Radial Tires Market, By Application:

• Truck
• Bus

• Truck and Bus Radial Tires Market, By Sales Channel:

• OEM
• Aftermarket

• Truck and Bus Radial Tires Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE