Heavy-duty Tire Market is predicted to reach USD 32.35 billion at a CAGR of 5.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Heavy-duty Tire Market”.

The Heavy-duty Tire Market is estimated to register a CAGR of 5.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Heavy-duty Tire Market— Bridgestone Corporation, Continental Tires, Balkrishna Industries Limited (BKT), Michelin, Titan Tire Corporation, Sumitomo Rubber Industries, Ltd, Trelleborg AB, The Goodyear Tire & Rubber Company, JK Tyre & Industries Ltd.

Market Highlights

The global Heavy-duty Tire Market is accounted to register a CAGR of 5.20% during the forecast period and is estimated to reach USD 32.35 billion by 2032.

The expansion of the e-commerce sector and the rising reliance on home delivery services have generated an increase in demand for logistics and transportation services. Consequently, there is a heightened requirement for heavy-duty trucks and their corresponding tires. Additionally, the trend towards more environmentally friendly transportation has spurred the creation of fuel-efficient and eco-friendly heavy-duty truck tires.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Heavy-duty Tire Market Research Report

Segment Analysis

The global Heavy-duty Tire Market has been segmented based on the Vehicle Type, and End-user.

Based on the Vehicle Type, the market is segmented into Construction Machinery, Mining Machinery, Agricultural Machinery, and Industrial Vehicles. The construction machinery segment was attributed to holding the largest market share in 2022. Numerous nations globally are making substantial investments in infrastructure development initiatives, encompassing the construction of highways, bridges, airports, and urban expansions. These endeavors necessitate substantial construction machinery, stimulating the demand for heavy-duty tires. The prevailing urbanization trend has resulted in heightened construction undertakings in urban locales, spanning the development of residential and commercial complexes. This upswing in construction activities propels the demand for construction machinery and, consequently, augments the market for heavy-duty tires.

Based on the end user, the Heavy-duty Tire Market has been segmented into OEM and aftermarket. The OEM segment was expected to hold the largest market share in 2022. The growth of the OEM segment is driven by heightened production levels in key industries, including construction, mining, agriculture, and transportation. Increased manufacturing output in these sectors creates a substantial demand for original equipment, specifically heavy-duty tires utilized in vehicles and machinery. The expanding necessity for specialized vehicles with distinct features plays a pivotal role in the expansion of the OEM market. Industries frequently seek tailored heavy-duty tire solutions that align with the unique specifications of their machinery, fostering augmented collaboration with OEMs to meet these specific requirements.

Regional Analysis

The global Heavy-duty Tire Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Heavy-duty Tire Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Heavy-duty Tire Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Heavy-duty Tire Market comprises of Middle East, Africa, and Latin America.

The largest market share for the Heavy-duty Tire Market was maintained by the North American regional sector. North America demonstrates a sustained commitment to infrastructure development, with a focus on projects such as the construction of roads, bridges, and public facilities. In the United States alone, substantial investments were made in 2020, as state and local governments allocated $211.8 billion to transportation and infrastructure, excluding government transfers. This accounted for 57% of the total government spending in this sector. The execution of such projects propels the demand for heavy-duty tires essential for construction machinery, thereby playing a pivotal role in driving the overall market growth.

Moreover, the Europe market has been persistently growing over the forecast period. The European construction industry is currently on an upward trajectory, propelled by several key factors, including urbanization, population expansion, and the imperative for modernization. Notably, the construction of buildings contributed a noteworthy 2.1% to the value added in the EU's non-financial business economy in 2019 and engaged 2.5% of the workforce. As of April 2022, construction output surpassed pre-pandemic levels by 1.8%, with building construction specifically registering a robust 3.1% increase. This growth is instrumental in driving heightened demand for construction machinery, consequently leading to an increased need for heavy-duty tires in the market. The thriving construction sector, with its economic contributions and resilience post-pandemic, underscores a substantial market opportunity for heavy-duty tire manufacturers and suppliers.

The Asia-Pacific region is undergoing significant urbanization, marked by a substantial concentration of the population in densely populated urban areas. The Asia-Pacific region is currently undergoing rapid urbanization, marked by substantial infrastructure development initiatives. In the budget for the fiscal year 2023-24, there is a notable 33% increase in the capital investment outlay for infrastructure, amounting to Rs. 10 lakh crore (US$ 122 billion), constituting 3.3% of the GDP. This fiscal commitment underscores the region's strategic focus on infrastructure development. Highlighting this commitment, in June 2022, the Minister of Road Transport and Highways inaugurated 15 national highway projects in Patna and Hajipur, Bihar, with a total worth of Rs. 13,585 crores (US$ 1.7 billion). These developments signify a surge in construction activities, including the building of highways, bridges, airports, and other public facilities. Consequently, this surge is driving an increased demand for construction machinery and heavy-duty tires in the business landscape. The heightened capital investment and project inaugurations align with the region's broader economic strategy, presenting significant opportunities for companies in the construction and heavy-duty tire sectors.

Furthermore, the rest of the world's Heavy-duty Tire Market is divided into the Middle East, Africa, and Latin America. Economic growth in these regions often correlates with increased investments in modernizing transportation systems. As the middle class expands and disposable incomes rise, there is a growing demand for reliable and technologically advanced transportation options. Heavy-duty Tires align with this demand for cutting-edge mobility solutions.

Key Findings of the Study

• The global Heavy-duty Tire Market is expected to reach USD 32.35 billion by 2032, at a CAGR of 5.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because Agriculture is a significant contributor to the economies of many Asia-Pacific countries. The expansion and modernization of agriculture practices in the region contribute to the demand for heavy-duty tires for tractors, combines, and other farming equipment.


• Based on vehicle type, the construction machinery segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.


• Bridgestone Corporation, Continental Tires, Balkrishna Industries Limited (BKT), Michelin, Titan Tire Corporation, Sumitomo Rubber Industries, Ltd, Trelleborg AB, The Goodyear Tire & Rubber Company, JK Tyre & Industries Ltd