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Global Bias Tire Market to Expand with Growing Inclination of the Automobile Industry towards Vehicle Safety

- Bias tires are gradually replacing radial tires across several units in the automobile industry, creating sound avenues for market growth and expansion.

- The focus of the automobile manufactures on ensuring durability, safety, and utility, especially for heavy commercial vehicles has led them to explore the premium benefits of bias tires.

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Jan 18, 2021, 13:00 ET

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ALBANY, N.Y., Jan. 18, 2021 /PRNewswire/ -- The demand within the global bias tire market is a function of advancements in automobile engineering. The use of bias tires across a multitude of vehicles open organic pathways for growth and development for the vendors operating in this market. It is worthwhile to note that the relevance of bias tires in the domain of automobile engineering stems from the safety, performance enhancement, and durability offered by these tires. Moreover, these tires have found to perform better than radial tires in terms of various key aspects. Over the course of the next decade, the use of bias tire is slated to increase at a stellar pace across various parts of the world.

 It is projected that the global bias tire market would grow at a CAGR of 4% over the forecast period ranging through 2020 to 2030. The total worth of the global bias tire market is set to touch US$ 9.2 Bn by the end of this forecast period. The relatively slow growth rate of the global bias tire market can be pegged to advancements in manufacturing of radial tires. Despite the tremendous utility and safety offered by bias tires, the popularity of radial tires has caused disruptions across the global bias tire market. However, the marketing is gradually gaining momentum as new opportunities for market expansion emerge across the automobile industry.

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Key Findings of Market Report

  • Cross-Marketing of Radial and Bias Tires

The use of radial tires over bias tires, or vice versa, has been a matter of contention and debate for several years. However, the narrative around their comparison has indeed helped in popularising both these products. Therefore, it is safe to state that the quest of radial and bias tire manufactures to outdo their competitors has played to the advantage of the overall market. The multiple layers used for manufacturing bias tire as against the single-layered radial tires has created humongous opportunities for growth within the global bias tire market. Therefore, it is safe to expect that the bias tire market would attract formidable investments from leading stakeholders in the times to follow.

  • Advancements in Automobile Engineering

The use of bias tire in the domain of heavy commercial vehicle manufacturing has boded well for the growth of the global market. Heavy vehicles include buses and tractors that are subjected to long and rough routes. Moreover, these vehicles usually have a long run, and are required to be inducted with leading technologies. Several engineers assert that the use of bias tires for heavy vehicle manufacturing has created new avenues for safety and durability within the automobile industry. Industrial vehicles are also equipped with bias tires, furthering the demand within the global market. Over the course of the next decade, the emergence of new-age heavy and light commercial vehicles would drive market growth and expansion.

Explore 370 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Bias Tire Market (Type: General Bias Tire and Bias Belted Tire; Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Construction & Mining Vehicle, Agriculture Tractor, and Industrial Vehicle; Tire Size: 20-22", 23-50", and >50"; and Sales Channel: OEM and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/bias-tire-market.html

Global Bias Tire Market: Growth Drivers

  • Safety, resilience, and utility offered by bias tires has brought them under the spotlight of attention for the leading automobile manufacturers.
  • The use bias tires in agricultural tractors is also bringing new growth opportunities to the fore of the industry.
  • Growing collaborations between Original Equipment Manufacturers (OEM) and entities in the automobile industry is slated to redefine the dynamics of market growth.

Analyze global bias tire market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Global Bias Tire Market: Key Competitors

  • The Goodyear Tire & Rubber Company
  • Cooper Tire & Rubber Company
  • Continental AG
  • YOKOHAMA Rubber CO. Ltd.

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https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=33521 

Explore Transparency Market Research's award-winning coverage of the Global Automotive & Transport Industry:

Automotive Suspension Spring Market – The global automotive suspension spring market is projected to reach US$ 25 Bn by 2030, expanding at a CAGR of ~5% during the forecast period. Rise in sale of passenger and commercial vehicles across the globe is likely to propel the automotive suspension spring market across the globe.

Agriculture Tire & Tire Cord Market – The global agriculture tire & tire cord market is projected to surpass US$ 14.9 Bn by 2030, expanding at a CAGR of ~5% during the forecast period, owing to rise in mechanization rate of farming and increase in use of tractors across the globe. Developing countries depend heavily on agriculture, and their growing populations are fueling the demand for high farm yield.

About Transparency Market Research   

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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