Truck & Bus Radial Tire Market Size, Share & Trends Analysis Report By Application (Trucks, Buses), By Sales Channel (Aftermarket, OEMs), By Region (North America, Europe, Asia Pacific, Latin America), And Segment Forecasts, 2025 - 2030

Truck & Bus Radial Tire Market Trends

The global truck & bus radial tire market size was valued at USD 19.75 billion in 2024 and is projected to grow at a CAGR of 6.6% from 2025 to 2030. The growing demand for trucks and buses across various industries is a major factor driving the truck & bus radial (TBR) tire market. The rapid expansion of e-commerce, urbanization, and globalization has significantly increased the need for efficient transportation and logistics services. With more goods being transported across cities and countries, fleet operators are investing in new commercial vehicles to meet the rising freight demand.

In addition, the public transportation sector is witnessing substantial growth due to increased urban population and government initiatives promoting mass transit systems to reduce traffic congestion and pollution. Many cities are expanding their bus fleets to improve public transport accessibility, further boosting demand for TBR tires. Since radial tires offer benefits like enhanced fuel efficiency, longer lifespan, and better load-carrying capacity, they have become the preferred choice for fleet owners and transportation companies.

The expansion of the aftermarket and retreading services also drives growth of the market. The aftermarket for TBR tires is witnessing steady growth, driven by the increasing preference for tire retreading services among fleet operators. Radial tires have a longer tread life and can be retreaded multiple times, making them a cost-effective solution for commercial vehicle owners. The expanding network of tire retreading services and the growing availability of high-quality aftermarket TBR tires are contributing to overall market expansion.

Furthermore, many countries are investing in large-scale infrastructure projects, including road construction, highway expansion, and transportation networks. Improved road connectivity increases the demand for heavy-duty commercial vehicles, directly boosting the need for durable and high-performance radial tires. In developing economies such as India, China, and Brazil, government-led initiatives to modernize transport infrastructure are accelerating the adoption of TBR tires for long-haul and intercity transportation.

However, the high initial cost of radial tires restrains the growth of the market. Radial tires are more expensive due to their advanced construction, superior materials, and enhanced durability. For small fleet operators and budget-conscious businesses, the upfront investment in radial tires can be a deterrent, leading them to opt for lower-cost alternatives. This price sensitivity is particularly evident in developing economies, where cost considerations often outweigh long-term benefits.

Application Insights

The trucks segment accounted for the largest share of 87.57% in 2024. The enhanced durability and longevity offered by radial tires drive its adoption in trucks. Radial tires offer significantly higher durability and longevity compared to bias-ply tires, making them an attractive choice for truck operators. The radial construction allows for better heat dissipation, reducing the risk of blowouts and excessive wear. This extended lifespan translates to lower replacement frequency, reducing overall operating costs for fleet operators.

The bus segment is expected to grow at a significant CAGR over the forecast period. Improved ride comfort and passenger safety offered by radial tires drive its adoption in buses. Radial tires are designed with a flexible sidewall and independent tread, which results in better shock absorption and reduced vibrations. This leads to a smoother and more comfortable ride for passengers, which is especially important for long-distance and public transit buses.

Sales Channel Insights

The aftermarket segment held the largest revenue share in 2024. The rising number of trucks and buses in operation, coupled with an aging fleet, is a major factor driving the growth of the aftermarket TBR tire segment. As commercial vehicles accumulate higher mileage, their tires experience wear and tear, necessitating frequent replacements. Many fleet operators prefer aftermarket radial tires as a cost-effective alternative to OEM tires while still ensuring safety and performance. This growing demand for replacement tires fuels the expansion of the TBR aftermarket.

The OEM segment is expected to grow at a significant CAGR during the forecast period. Increasing production of commercial vehicles drives the growth of the segment. The demand for OEM truck and bus radial (TBR) tires is directly linked to the growth of commercial vehicle production. As economies expand and urbanization increases, the need for trucks and buses for freight transportation, public transit, and logistics has surged. Leading truck and bus manufacturers are equipping their vehicles with high-quality radial tires to enhance performance, durability, and fuel efficiency. This increasing production rate is significantly driving the growth of the segment.

Regional Insights

The North America truck & bus radial tire market held a significant share in 2024. North America has a robust presence of original equipment manufacturers (OEMs) supplying commercial trucks and buses, creating a steady demand for TBR tires. Leading truck manufacturers such as Freightliner, Kenworth, and Peterbilt equip their vehicles with high-performance radial tires, driving the market forward.

U.S. Truck & Bus Radial Tire Market Trends

The truck & bus radial (TBR) tire industry in the U.S. held a dominant position in 2024 due to the increasing shift toward electric and autonomous trucks. As major logistics companies and fleet operators invest in electric trucks for sustainable transportation, the need for advanced radial tires designed for electric vehicles is growing. Radial tires with lower rolling resistance are particularly beneficial for electric trucks, as they help extend battery life and improve energy efficiency.

Europe Truck & Bus Radial Tire Market Trends

The truck & bus radial (TBR) tire industry in Europe was identified as a lucrative region in 2024. European countries have some of the strictest environmental regulations globally, pushing the commercial vehicle industry toward sustainable practices. Regulations such as the Euro 6 emissions standards and the EU Green Deal encourage fleet operators to adopt fuel-efficient solutions, including radial tires. TBR tires help reduce fuel consumption and lower CO₂ emissions, making them an attractive option for companies looking to comply with environmental standards while optimizing operational costs.

The U.K. truck & bus radial (TBR) tire market is expected to grow rapidly in the coming years due to the growth of public transportation and the electrification of bus fleets. The U.K.’s public transport sector is undergoing significant modernization, with cities such as London, Manchester, and Birmingham investing in electric and hybrid buses. The government’s push towards zero-emission bus fleets, supported by funding initiatives such as the ZEBRA (Zero Emission Bus Regional Areas) program, is increasing demand for specialized radial tires designed for electric buses.

The truck & bus radial (TBR) tire industry in Germany held a substantial market share in 2024 owing to the rising adoption of telematics and smart fleet management. Fleet operators in Germany are heavily investing in telematics and predictive maintenance technologies, integrating solutions such as Tire Pressure Monitoring Systems (TPMS) and intelligent tire sensors. These advancements increase demand for high-quality TBR tires that can withstand long-distance travel while providing real-time performance data. The rise of digital fleet management solutions is pushing fleet owners to choose premium radial tires to optimize costs and improve vehicle efficiency.

Asia Pacific Truck & Bus Radial Tire Market Trends

The truck & bus radial (TBR) tire market in Asia Pacific dominated the global market in 2024 with a share of 49.6%. Rising demand for retreaded and cost-effective tires drives the growth of the market in the regions fleet operators seek cost-effective and sustainable tire solutions. Retreading extends the lifespan of radial tires, reducing overall operational costs while maintaining safety and performance standards.

Japan truck & bus radial (TBR) tire market is expected to grow rapidly over the forecast period. Japan is at the forefront of automotive technology and innovation, and this extends to the TBR tire market. Fleet operators are increasingly adopting smart tires equipped with sensors for real-time monitoring of pressure, temperature, and tread wear. Companies such as Bridgestone and Yokohama are developing intelligent radial tires integrated with telematics and fleet management systems, allowing operators to enhance vehicle performance and safety while reducing operational costs.

The truck & bus radial (TBR) tire market in India held a substantial market share in 2024 owing to the expansion of public transportation networks and infrastructure projects. Cities across India are investing in modernizing their public bus fleets with fuel-efficient and durable tires to improve performance and reduce maintenance costs. Moreover, infrastructure development, including road expansions, highway improvements, and the rise of smart city initiatives, is supporting the growth of commercial vehicles, further driving the demand for TBR tires.

Key Truck & Bus Radial Tire Company Insights

Some of the key companies in the truck & bus radial (TBR) tire market include MICHELIN, Apollo Tires, Yokohoma Rubber Corporation, Bridgestone Corporation, Continental AG, and others. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies. 

• Michelin is a tire manufacturer headquartered in Clermont-Ferrand, France. Founded in 1889, the company is recognized for its innovative and high-performance tires for a wide range of vehicles, including passenger cars, trucks, buses, motorcycles, bicycles, and specialty vehicles used in agriculture, construction, and aviation. Michelin is a pioneer in radial tire technology and continues to invest in research and development to enhance tire durability, fuel efficiency, and sustainability. The company also focuses on mobility solutions, including digital fleet management services and sustainable mobility initiatives.

• Apollo Tyres is a tire manufacturer headquartered in Gurugram, India. Established in 1972, the company specializes in producing a wide range of tires for passenger cars, commercial vehicles, two-wheelers, off-highway vehicles, and retreading applications. Apollo Tyres operates under two key brands-Apollo and Vredestein-catering to diverse market segments across Asia, Europe, and other international markets.

Recent Developments

• In January 2025, Continental Tires launched a new range of premium vehicle and truck radial tires in India, including the PremiumContact 6 (PC6) and Gen3 truck radial tires. The PC6 tires are designed with advanced technologies such as Macroblock technology for superior grip and cornering performance, making them suitable for SUVs and premium cars. They feature a silica compound that enhances wet and dry grip, along with an asymmetric tread pattern for improved stiffness.

• In September 2024, CEAT, an Indian tire manufacturer, inaugurated a new production line for Truck Bus Radial (TBR) tires at its Chennai manufacturing facility. This strategic move is part of CEAT's broader global expansion strategy, aiming to enhance its presence in international markets, particularly in Europe and the US. The new TBR line is expected to increase production capacity to 1,500 tires per day over the next 12 months, significantly bolstering CEAT's manufacturing capabilities.

Truck & Bus Radial Tire Market Report Scope

Global Truck & Bus Radial Tire Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global truck & bus radial tire market report based on application, sales channel, and region. 

• Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Trucks

  • Buses

• Sales Channel Outlook (Revenue, USD Billion, 2018 - 2030)

  • Aftermarket

  • OEMs

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • Saudi Arabia

    • UAE

    • South Africa