Market Overview
According to the MarkNtel Advisors’ research report, “Global Light Commercial Vehicle Tire Market Analysis, 2021,” the market is likely to grow at a CAGR of around 3.5% in the forecast period of 2021-26 due to factors like the easy availability of vehicle investment schemes by various governments & key market players, the growing e-commerce sector, the increasing number of multiple infrastructural projects, and the flooding logistics around the globe.
Impact of COVID-19
The outbreak of the Covid-19 reduced the production of the market as several production units shut, and the supply was on hold due to lockdown impositions. Furthermore, the trade and export sector got disrupted as well, resulting in massive losses. However, with the upliftment of restrictions, the market is getting back on track and shall regain its pace in the forecast years.

Market Segmentation
Replacement segment to Dominate The Market
Based on demand, the replacement segment dominated the global market and is likely to continue its dominance in the forecast years. It owes to prominent factors like the expanding production of vehicles and numerous technological advancements in the industry. Furthermore, the gradual shift toward living a better lifestyle, environment-friendly tires, with growing tire sales in the replacement segment are other crucial factors contributing to the continuously increasing market size.
Vans and Pickup Trucks to Witness the Fastest Market Growth
Based on the Type of Vehicle, Vans and Pickup trucks are likely to witness the fastest market growth in the forecast years, majorly owing to their spacious seating and reasonable prices of tires used in them. Moreover, their easy availability & wide usage in the transportation of goods from one place to another require timely up-gradation of tires, leading to more sales of commercial tires. Hence, these factors are propelling the demand for pickup trucks and vans, thereby fueling the overall market growth across the globe, states MarkNtel Advisors in their research report, “Global Light Commercial Vehicle Tire Market Analysis, 2021.”
Regional Landscape
Europe to Witness the Largest Market Share
Europe is likely to witness substantial market growth in the forecast years due to the surging initiatives taken by numerous governments in the region to decrease carbon emissions. Ensuring this requires vehicles’ tires to be replaced when their quality falls below the acceptable limits and attain its roadworthiness. It has become a significant driving factor for the market growth in the region, and hence, it is likely to continue achieving the fastest market growth in the global market.
Market Driver
The most prominent factor driving the market growth globally in the forecast years is the increasing sales of passenger vehicles. Furthermore, the rapidly emerging next-generation tire technologies with excellent fuel efficiency & inflation pressure is another critical factor likely to push the market toward even greater heights.
Competitive Landscape
According to Markel Advisors, the major leading players in the Global Light Commercial Vehicle Tire Market are Pirelli, Continental, Bridgestone, Goodyear Tire and Rubber Company, Yokohama, Michelin, Apollo, Hangzhou Zhongce, MRF Tyres, JK Tyres, Hankook, Sumitomo, Linglong, Toyo Tire, Weifang Goldshield Tire.
Key Questions Answered in the Market Research Report:
1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Light Commercial Vehicle Tire Market?
2. What is the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Light Commercial Vehicle Tire Market?
4. What are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Light Commercial Vehicle Tire Market based on the competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Light Commercial Vehicle Tire Market study?
Market Outlook, Segmentation, and Statistics
1) Impact of COVID-19 on Global Light Commercial Vehicle Tire Market
2) Market Size & Analysis
3) By Revenue
a) Market Share & Analysis
4) By Type of Vehicle
a) Light Truck
b) Light Bus
c) Pickup Trucks
d) Vans
e) By Demand
i) OEM,
ii) Replacement
5) By Type of material
a) Radial,
b) Bias
6) By Rim Size
a) Up to 15”
b) 15.1” to 16”
c) Above 16”
7) By End-User
a) Agricultural Transportation
b) E-commerce
c) Dairy & Meat Transportation
d) Others
8) By Price Range Per Unit
a) Up to USD 80
b) USD 81 to USD120
c) USD121 to USD200
d) Above USD 200
9) By Region
a) North America Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
i) The US Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
ii) Canada Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
iii) Mexico Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
10) South America Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
a) Brazil Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
b) Argentina Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
c) Columbia Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
11) Europe Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
a) The UK Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
b) Germany Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
c) France Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
d) Italy Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
e) Spain Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
f) The Netherlands Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
12) Asia-Pacific Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
a) China Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
b) Indoneisa Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
c) Japan Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
d) India Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
e) Thailand Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
13) The Middle East & Africa Light Commercial Vehicle Tire Market Outlook, 2016-2026F (USD Million)
14) By Competitors
a) Competition Characteristics
b) Market Share & Analysis
c) Competitive Matrix
15) Global Light Commercial Vehicle Tire Market Hotspots & Opportunities
16) Global Light Commercial Vehicle Tire Market Regulations & Policy
17) Key Strategic Imperatives for Success and Growth
18) Global Competition Outlook
a) Competition Matrix
b) Company Profile