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Global Wide Light Truck Tyres (WLTR) Market (2024 Edition): Analysis By Type (Radial, Bias), Class (1, 2, 3), Sales Channel (OEM, Replacement), Size (33

Category: Automotive and Transportation

Publish Date: January 2024

No. of Pages: 280

Format: Pdf

  • USD

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Executive Summary

Azoth Analytics has released a research report titled “Global Wide Light Truck Tyres (WLTR) Market (2024 Edition)” which provides a complete analysis of the Global Wide Light Trucks Tyres (WLTR) industry in terms of market segmentation By Type (Radial and Bias), By Truck Class (Class 1, Class 2, Class 3), By Sales Channel Original Equipment Manufacturers, Replacement), By Tyre Size (33 Inch Diameter, 35 Inch Diameter and Other Tyre Size) for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.

The Global Wide Light Truck Tyres (WLTR) market showcased growth at a CAGR of 3.4% during 2019-2022. The market was valued at USD 1.33 Billion in 2022 which is expected to reach USD 2.53 Billion in 2029. Increased economic activities and industrialisation have led to a higher demand for transportation, including light trucks. Industries relying on the transportation of goods and materials may prefer vehicles equipped with wide tires for better load-bearing capacity and stability. Furthermore, there is an increase in the demand from industries such as mining, forestry, or construction that require off-road capabilities for wide-light truck tires.

Wide light truck tires (WLTR) are versatile and suitable for various applications, including personal use, commercial fleets, and off-road activities. Their versatility makes them a preferred choice for a wide range of consumers and businesses.

Additionally, the expansion of e-commerce and online retail has led to an increased need for efficient and reliable transportation, often provided by light trucks. Delivery vans and vehicles used for last-mile logistics contribute to the demand for wide-light truck tires. Furthermore, existing tires on light trucks wear out, there is a continuous demand for replacement tires. Consumers often seek replacement tires that offer improved performance, durability, and specific features tailored to their driving preferences.

Urban growth strictly refers to the absolute number of people living in those areas. It is predicted that by 2050 about 64% of the developing world and 86% of the developed world will be urbanized. Urbanisation often leads to a surge in commercial activities, including logistics, transportation, and delivery services. Businesses operating in urban areas rely on light trucks equipped with wide tires to meet the demands of frequent stop-and-go traffic and the transportation of goods.

Rapid urbanisation is accompanied by extensive infrastructure development, including the construction of roads, highways, and buildings. Construction and development activities often involve the use of light trucks, contributing to the demand for wide tires that can withstand the demands of construction sites and urban roads. Furthermore, as urban areas expand, people may commute between cities or suburban areas, necessitating vehicles that are well-suited for both highway and urban driving conditions. Light trucks with wide tires can provide the versatility required for such commuting patterns.

 

Scope of the Report

• The report analyses the Global Wide Light Truck Tyres (WLTR) Market by Value (USD Million).  

• The report presents the analysis of the Wide Light Truck Tyres (WLTR) Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.  

• The report analyses the Wide Light Truck Tyres (WLTR) Market By Type (Radial and Bias)

• The report analyses the Wide Light Truck Tyres (WLTR) Market By Truck Class  (Class 1, Class 2 and Class 3).  

• The report analyses the Wide Light Truck Tyres (WLTR) Market By Sales Channel (OEM (Original Equipment Manufacturer) and Replacement).

• The report analyses the Wide Light Truck Tyres (WLTR) Market By Tyre Size (33 Inch Diameter, 35 Inch Diameter and Other Tyre Size).

• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Types, by mode of operation & by end users.  

• Also, the major opportunities, trends, drivers and challenges of the industry have been analyzed in the report.  

• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Michelin, Toyo Tire Corporation, Bridgestone Corporation, Goodyear Tire & Rubber Co., Continental AG Pirelli & C. SpA, Hankook Tire & Technology Co Ltd., Yokohama Rubber Co Ltd., Sumitomo Rubber Industries Ltd. and Cooper Tire & Rubber Company.

One can also purchase any particular sections from this report. Please send us an email to info@azothanalytics.com with your order details.

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