Conducted by Astute Analytica, the study predicts huge revenue growth of the market for global truck bus tire market from US$41,565 million in 2021 to US$57,261 million in 2027. The market is expected to grow at a CAGR of 5.5% during the forecast period 2022-2027. In terms of volume, the market registers a CAGR of 5.2% during the forecast period. A tire is an annular component that surrounds the rim of a wheel to transfer a vehicle’s load from the axle through the wheel to the ground and provide traction on the surface over which the wheel travels. Tires provide a contact patch, called the footprint, which is designed to balance the vehicle’s weight with the carrying capacity of the surface it rolls over by providing a contact pressure that does not unduly deform the surface.

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On the basis of tire type, the radial segment is estimated to have the highest market share and CAGR in the global truck-bus tires market during the forecast period owing to the increasing demand for mid-size trucks. Additionally, the trailer segment, in terms of mode of operation, is expected to register the highest CAGR in the global Truck & Bus Tires market during the forecast period. While the powertrain segment contributed the largest share of the global truck bus tire market in 2021. In addition, in terms of applications, the truck segment contributed the largest share of the global truck and bus tire market in 2021 due to the rise of e-commerce, as well as the logistics industry and the increasing demand for commercial vehicles worldwide. While the bus segment is projected to grow at the highest CAGR over the forecast period. Additionally, the 80-100 kg by weight segment is expected to register the highest CAGR in the global Truck & Bus Tires market during the forecast period. Also, based on the sales channel, the aftermarket…