Press release
Global Opportunity Analysis of the Truck & Bus Radial (TBR) Tire Market (2023-2032)
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COVID-19 Impact Analysis
The COVID-19 outbreak has widely disrupted the global logistics and e-Commerce industry on a large scale, particularly harming the truck & bus radial tire market. It has resulted in the shutdown of manufacturing facilities and a decline in sales volume. Furthermore, the global restrictions have halted the production process of new trucks and buses globally. Moreover, because of the trade restrictions across the globe, trade has proved to be impossible, inflicting major drop to the online and offline mode of the logistics industry around the world. These restrictions, as expected, will adversely affect the global truck & bus radial industry. Companies, however are taking preventive measures to tackle adverse effects of the pandemic and provide ease to mankind with their services.
Top Impacting Factors
Gradual rise in the production of medium-duty trucks, advancing R&D in TBR tire manufacturing, government authorities initiative towards strengthening the transportation sector drive the growth of the global truck & bus radial (TBR) tire market.
Higher costs for radials as compared to conventional tire designs hinder the growth of the global truck & bus radial (TBR) tire market.
Growth of e-commerce sector and high demand for transportation & logistics provide lucrative opportunities for the global truck & bus radial (TBR) tire market.
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Market Trends
Emergence of Smart Tires
The global truck & bus radial (TBR) tire market is experiencing several trends, which are anticipated to have a favorable influence on the market during the forecast period. Recognized suppliers operating in the global automotive tire market are using advanced materials, technologies, and processes to enhance the value proposition of their tires. Continental for example, has developed innovative tire technologies such as ContiSense and ContiAdapt, to provide a higher level of comfort and safety. ContiSense monitors tire temperature and depth in real-time using sophisticated sensors and conductive rubber compounds. Because of these technological advances, the efficient use of rubber compounds in tire construction is possible, without compromising the durability and reliability of tire. The weight of the ION rim provides low rolling resistance and uses a proprietary composite compound, which results in a thinner tread depth. Better reinforcement coating, and less wear. Smart tires and tires with integrated sensors as a result are becoming more and more popular in the market, as fleet owners are becoming more aware about maintenance plans and tire conditions to avoid vehicle failures, favorably impacting the TBR tire market. Apart from the emergence of smart tires, other factors, such as the growth of the e-commerce industry, increased reliance on public transportation, and increasing use of advanced technologies in tire processing, will have a significant impact on the growth of the market value of TBR tires during the forecast period.
Key Benefits of the Report:
This study presents the analytical depiction of the truck & bus radial (TBR) tire industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of truck & bus radial (TBR) tire market.
The current market is quantitatively analyzed to highlight the growth scenario of the truck & bus radial (TBR) tire market.
The report provides a detailed truck & bus radial (TBR) tire market analysis based on competitive intensity and the competition that will take shape in coming years.
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Questions Answered in the Truck & Bus Radial (TBR) Tire Market Research Report:
Who are the leading market players active in the truck & bus radial (TBR) tire market?
What would be the detailed impact of COVID-19 on the market?
What are the current trends that would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the truck & bus radial (TBR) tire market?
What are the future projections that would help in taking further strategic steps?
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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