Truck bus tires market Progress Factors, Outlook Developments, Analysis and Projections Forecast 2023 to 2031
The global truck and bus tires market is expected to witness a significant increase in revenue, with an estimated rise from US$ 39,417 Mn in 2022 to US$ 64,729 Mn by 2031. This represents a CAGR of 5.5% during the forecast period of 2023-2031. In terms of volume, the market is expected to register a CAGR of 5.2% over the same period. A tire is a ring-shaped element that covers a wheel's rim to transfer a vehicle's load from the axle through the wheel to the ground and to deliver traction on the surface over which the wheel travels. Most tires, like those for automobiles and bicycles, are pneumatically inflated structures, which also give a flexible cushion that soaks shock as the tire rolls over rough parts on the surface. Raw materials like synthetic rubber, natural rubber, steel, and fillers are utilized in the making of truck tires. Natural rubber is the primary raw material used in manufacturing tires because it is good for tear and fatigue crack resistance. Download Samp...