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Global Heavy-Duty Vehicle Tires Market 2019-2023 | Growing Adoption of Nanotechnology to Boost Market Growth | Technavio

The heavy-duty vehicle tires market size is expected to grow by USD 1.73 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global heavy-duty vehicle tires market 2019-2023. (Graphic: Business Wire)

In recent years, there has been a significant rise in the volume of freight due to the increase in manufacturing operations in developing countries, which is driving the sale of heavy-duty vehicles. Moreover, the rising demand for public transport vehicles is also increasing the production and sale of heavy-duty buses. Thus, the growing sales and production of commercial vehicles will have a direct impact on the growth of heavy-duty vehicle tires market during the forecast period.

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As per Technavio, the adoption of nanotechnology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Heavy-Duty Vehicle Tires Market: Adoption of Nanotechnology

Several manufacturers in the tires market are increasingly leveraging nanotechnology as it helps in significantly reducing the wear and tear of heavy-duty vehicle tires. Tires with nanotechnology deliver superior performance in extreme conditions. They offer stronger grip to winter tires when traversing snow-covered pavements. Nanoprene, a high-performance rubber additive, which is used with the rubber mixture of the tire tread, significantly helps to reduce wear and tear. Thus, the adoption of nanotechnology in tire manufacturing will boost the growth of the heavy-duty vehicle tires market during the forecast period.

"Other factors such as the development of specialized tires for heavy-duty electric vehicles, and increasing adoption of environment-friendly tire manufacturing processes will have a significant impact on the growth of the heavy-duty vehicle tires market value during the forecast period," says a senior analyst at Technavio.

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Heavy-Duty Vehicle Tires Market: Segmentation Analysis

This market research report segments the heavy-duty vehicle tires market by application (trucks and buses) and geographic regions (APAC, North America, Europe, MEA, and South America).

The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. The growth of the heavy-duty vehicle tires market share in APAC can be attributed to factors such as the growth of the commercial vehicle market in India, China, Japan, and Indonesia.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20191204005727/en/

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