TRUCK AND BUS RADIAL (TBR) TIRE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In 2022, Apollo Tyres launched five new truck-bus radial tires for the Indian market, consisting of steer, drive, and all-wheel fitment tires. The new products have been extensively tested in real-world applications across the country before being introduced. The tires are designed to enhance customers' operational productivity and offer the best in technology.
• In 2022, Hankook launched its first truck and bus radial tire in the iON range, called the Smart iON AU06+. The tire is designed for premium electric vehicles in the Korean market and incorporates Hankook's EV tire technology for improved fuel efficiency, fast torque response, and high load support
• In July 2020, Continental AG launched a new truck tire. The new Conti Scandinavia HS3 ED steer-axle tire was created specifically for goods transportation in wintry mixed on/off-road condition.
• In December 2021, Bridgestone Corporation announced the consolidation of its TBR tire manufacturing operations in China to increase growth opportunities. The goal of this project, which is a part of the Mid Term Business Plan (2021-2023), is to rebuild earning power to enhance strategic growth investment.