The bias tire consists of multiple rubber plies overlapping each other. The growing mining activities across the globe coupled with increase in farm mechanization is driving the demand for agriculture equipment, which boost the growth of the bias tires market. Further, growth in urbanization has boosted the number of vehicles on the streets and the rapidly growing demand for passenger cars and commercial vehicles is also influencing the demand for the bias tires market. Furthermore, the bias tires have unique advantages and disadvantages. Bias tires offer tougher sidewalls, owing to their specialty of crosshatch construction as these tires are less expensive compared to radial tires and enable a smooth ride on rough surfaces. However, the tread of bias tires tends to wear fast due to high traction and the high rolling resistance also tends to affect the fuel economy. In addition, growing construction activities in emerging countries are driving the demand for construction equipment such as loaders, excavators, heavy trucks, telehandlers, and others is expected to positively impact the growth of the bias tire market during the forecast period.
COVID-19 scenario analysis:
- The tires industry is directly connected with the Original Equipment Manufacturers (OEM); hence, it will face huge losses till the lockdown is over.
- The staff members of various departments are instructed to work from home during the lockdown period within which production is completely been shut.
- As the COVID-19 has crucially affected the sales of the tires and lockdown has completely stopped the transportation all across the globe, it will eventually affect the tire spray market as well.
- Producers are working on strategies to reduce stockpiling such as with production cuts, laying off jobs, and others. The staff members of various departments are instructed to work from home during the lockdown period within which production is completely been shut.
- While the uncertainty will continue, and the market will have to find growth opportunities, the hope of the markets further recovering and the sales bouncing back around the near future.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Some of the factors that boost the demand for industrial applications and rise in urbanization are expected to spur the demand during the forecast period. However, the downside of these tires involves low grip at high speeds and increased sensitivity toward overheating, which can hamper the growth of the market. Furthermore, the expansion of industries is propelling the demand for minerals and metals, which are extracted from their ores, which are expected to offer lucrative opportunities for the market during the forecast period.
The bias tire market trends are as follows:
The rise in demand for industrial application
The enhanced operator comfort with bias tires and its ability to withstand higher loads is being highly preferred by automobile manufacturers. Many manufacturers are bolstering their production output of bias, radial, and solid tires to meet specific requirements of vehicle manufacturers. Moreover, bias tires are being extended for use in industrial applications such as machinery for ports and terminals. Accelerated wear and high fuel consumption are potentially affecting the growth of the bias tire market. As such, manufacturers in the bias tire market are hopeful about sales, since the vehicle and industrial machinery manufacturers keep interchanging between radial and bias tires as per unique applications, which will boost the growth of bias tire during the forecast period.
Rise in urbanization
Growth in urbanization increases the number of vehicles on streets and construction activities, which has led to the demand for commercial vehicles. In addition, governments of developing countries, generally, provide better financing options with low interest and subsidies on farming equipment to enhance the production of farms and cater to the demand for food by the growing population, which, in turn, is likely to fuel the demand for agriculture tractors and equipment. The rise in demand for industrial products is boosting the development of new industries. Moreover, the expansion of existing industries is propelling the growth of the automobile sector, which will in turn boost the growth of the bias tire market during the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the bias tire market 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 a detailed analysis of the bias tire market share.
- The current market is quantitatively analyzed to highlight the bias tire market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed bias tire market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the bias tire market research report:
- Which are the leading market players active in the bias tire market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Bias Tire Market Report Highlights
| Aspects | Details |
 By Product |
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 By Vehicle Type |
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 By Region |
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 Key Market Players | Toyo Tire Corporation, Cooper Tire & Rubber Company, Bridgestone Corporation, Michelin, YOKOHAMA Rubber CO. Ltd., The Goodyear Tire & Rubber Company, Hankook Tire & Technology Co. Ltd., Sumitomo Rubber Industries Ltd., Continental AG, Pirelli & C S.p.A. |
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