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Global Specialty Tire Market to reach USD 29.28 Billion by the end of 2029

Global Specialty Tire Market Size study & Forecast, by Type (Bias Tires, Radial Tires), by End-User (Agriculture, Construction, Mining, Others), by Sales Channel (Original Equipment Manufacturer (OEM), and Aftermarket) and Regional Analysis, 2022-2029

Product Code: ALTAMC-98579914
Publish Date: 8-02-2023
Page: 200

Global Specialty Tire Market is valued at approximately USD 18.84 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.5 % over the forecast period 2022-2029. Specialty tyres are made to precise requirements and are produced for specific applications. For example, specialized tires for trailers, heavy machinery, and mining vehicles need to be more rigid and durable than tires used on passenger cars. Due to the fact that all of these vehicles are designed to tow huge loads, specialist tires are essential for these types of vehicles. Additionally, specialty tires are produced with a minimum trade depth, which enhances tyre cooling and enhances stability when driving. The growing automotive sector and increasing demand for off-road and performance tires are key factors accelerating the market growth.

The growing automotive sector is contributing towards the growth of the Global Specialty Tires Market. For instance, as per Statista – in 2021, the global automotive manufacturing market was valued at USD 2.86 trillion, and the market is projected to grow to USD 2.95 trillion in 2022. Also, growing rate of urbanization and increase in industrialization would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Specialty Tires stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Specialty Tire Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and increasing demand for specialty tires in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising expansion of automotive industry and presence of leading market players in the region.

Major market players included in this report are:
Alliance Tyre Group (ATG)
Bridgestone Corporation,
Continental Ag
Jk Tyre & Industries
Toyo Tire & Rubber
The Goodyear Tire & Rubber Company
Harvest King
Gri Tires

Recent Developments in the Market:
 In October 2022, The “Bhim” line of bias tyres from Apollo Tyres was unveiled for small commercial vehicles (SCVs). The company positioned this as “Loading ka Mahabali” because of its large load-bearing ability, which is the main requirement of the clients in this product category. according to a release from Apollo Tyres Global R&D Centre, Asia in Chennai.

Global Specialty Tire Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, End-User, Sales Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type
Bias Tires
Radial Tires

By End-User

By Sales Channel
Original Equipment Manufacturer (OEM),

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Specialty Tire Market, by Region, 2019-2029 (USD Billion)
1.2.2. Specialty Tire Market, by Type, 2019-2029 (USD Billion)
1.2.3. Specialty Tire Market, by End-User, 2019-2029 (USD Billion)
1.2.4. Specialty Tire Market, by Sales Channel, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Specialty Tire Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Specialty Tire Market Dynamics
3.1. Specialty Tire Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing automotive sector Increasing demand for off-road and performance tyres
3.1.2. Market Challenges High Cost of Specialty Tire Volatile cost of raw materials
3.1.3. Market Opportunities Growing rate of urbanization Increase in industrialization
Chapter 4. Global Specialty Tire Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Specialty Tire Market, by Type
6.1. Market Snapshot
6.2. Global Specialty Tire Market by Type, Performance – Potential Analysis
6.3. Global Specialty Tire Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Specialty Tire Market, Sub Segment Analysis
6.4.1. Bias Tires
6.4.2. Radial Tires
Chapter 7. Global Specialty Tire Market, by End-User
7.1. Market Snapshot
7.2. Global Specialty Tire Market by End-User, Performance – Potential Analysis
7.3. Global Specialty Tire Market Estimates & Forecasts by End-User 2019-2029 (USD Billion)
7.4. Specialty Tire Market, Sub Segment Analysis
7.4.1. Agriculture
7.4.2. Construction
7.4.3. Mining
7.4.4. Others
Chapter 8. Global Specialty Tire Market, by Sales Channel
8.1. Market Snapshot
8.2. Global Specialty Tire Market by Sales Channel, Performance – Potential Analysis
8.3. Global Specialty Tire Market Estimates & Forecasts by Sales Channel 2019-2029 (USD Billion)
8.4. Specialty Tire Market, Sub Segment Analysis
8.4.1. OEM
8.4.2. Aftermarket
Chapter 9. Global Specialty Tire Market, Regional Analysis
9.1. Specialty Tire Market, Regional Market Snapshot
9.2. North America Specialty Tire Market
9.2.1. U.S. Specialty Tire Market Type breakdown estimates & forecasts, 2019-2029 End-User breakdown estimates & forecasts, 2019-2029 Sales Channel breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Specialty Tire Market
9.3. Europe Specialty Tire Market Snapshot
9.3.1. U.K. Specialty Tire Market
9.3.2. Germany Specialty Tire Market
9.3.3. France Specialty Tire Market
9.3.4. Spain Specialty Tire Market
9.3.5. Italy Specialty Tire Market
9.3.6. Rest of Europe Specialty Tire Market
9.4. Asia-Pacific Specialty Tire Market Snapshot
9.4.1. China Specialty Tire Market
9.4.2. India Specialty Tire Market
9.4.3. Japan Specialty Tire Market
9.4.4. Australia Specialty Tire Market
9.4.5. South Korea Specialty Tire Market
9.4.6. Rest of Asia Pacific Specialty Tire Market
9.5. Latin America Specialty Tire Market Snapshot
9.5.1. Brazil Specialty Tire Market
9.5.2. Mexico Specialty Tire Market
9.5.3. Rest of Latin America Specialty Tire Market
9.6. Rest of The World Specialty Tire Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Alliance Tyre Group Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Bridgestone Corporation,
10.2.3. Continental Ag
10.2.4. Jk Tyre & Industries
10.2.5. Toyo Tire & Rubber
10.2.6. The Goodyear Tire & Rubber Company
10.2.7. Michelin
10.2.8. Carlisle
10.2.9. Harvest King
10.2.10. Gri Tires
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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