Global Bias Tire Market Analysis & Trends - Industry Forecast to 2030

Global Bias Tire Market Analysis & Trends - Industry Forecast to 2030

Bias Tire: Market Size

From $8,182.45 million in 2024, the global Bias Tire market is projected to reach $12,279.65 million by 2030. Based on our analysis the market is expected to grow at a CAGR of 7.0% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include increase in demand for industrial applications, rapid expansion of warehouse industries, and rise in sale of commercial vehicles.

Global Bias Tire Market: Market Dynamics
Bias tires offer tougher side walls, owing to their specialty of crosshatch construction. These tires are less expensive compared to radial tires and enable smooth ride on rough surfaces. Apart from agricultural tractors, companies in the bias tire market are offering products that can be installed in loaders, telehandlers, and backhoe loaders. Manufacturers are increasing their R&D muscle to deploy robustness and stability to improve the service life of bias tires. They are increasing the production of tires that provide resistance against shock, punctures, and cuts in order to boost sales. Governments of developing countries, generally, provide better financing options with low interest and subsidies on farming equipment in order 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. This is anticipated to boost the bias tire market.

On the other hand, the plant closures and increased popularity of premium profitable products are likely to obstruct the profit boundaries. In addition, increase in government investments in construction activities and increasing use of agriculture tractors will further boost for the Bias Tire market.

Impact of COVID-19 on Bias Tire
Tire dealers are optimistic about potential COVID-19 vaccines and biologic drugs in order to take decisions pertaining to hold back and implementation of business plans. A dramatic economic downturn caused by the COVID-19 (coronavirus) pandemic has led to major adjustments in business activities for companies in the bias tire market. Companies in the U.S. bias tire market are making staggered investments in new technologies, due to uncertainty in the global demand and supply. Many tire dealers that were flourishing in their business in 2019 were found to be at the brink of survival during the second and third quarter of 2020. It is estimated that tire businesses are returning to normal due to change in perspective of people toward COVID-19 with increasing adherence toward sanitization and hygiene practices. The consolidation of tire dealers is emerging as a fast growing phenomenon amidst the ongoing COVID-19 situation.

By Type
Bias Belted Tire Segment Dominate the Market in 2024
The bias belted tire segment made huge revenue in 2024 and growing its prominence during the forecast period. Bias belted tires provide smoother ride on rough surfaces compared to general bias tires. In addition, bias belted tires are less expensive compared to other types of tires. Bias-belted tires are popular with people who drive classic cars and who prefer to keep the equipment as close to original as possible. Bias-belted tires are also manufactured for some light trucks such as pickup trucks and SUVs.

By Geography
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific region is likely to have a huge demand in the forecast period owing to the growing construction activities in emerging countries such as Japan, China, India, etc. The rising demand for construction equipment such as loaders, excavators, heavy trucks, telehandlers, etc. are positively impact the growth of the bias tire market during the forecast period. Moreover, the growing adoption of industrial vehicles and periodic replacement of the tires are expected to accelerate the growth of the bias tires market in the region.

List of the Key Players Profiled in the Market Include:
• Bridgestone Corporation
• Continental AG
• Cooper Tire & Rubber Company
• Hankook Tire & Technology Co. Ltd.
• Michelin
• Pirelli & C S.p.A.
• Sumitomo Rubber Industries, Ltd.
• The Goodyear Tire & Rubber Company
• Toyo Tire Corporation
• YOKOHAMA Rubber CO. Ltd.

List of the Regions/Countries Profiled in the Market Include:
North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others