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As the demand for safety and durability in heavy haul is increasing, so is the adoption of bias tires. The Bias tires consist of overlapped multiple rubber plies; these plies offer durability and versatility. A wide range of ply materials is used in these tires based on the intended use. Some of the materials used include rubber, nylon, steel fiberglass, and others. A combination of these materials can also be utilized while making bias tires. The ability of the bias tires to run on the rough road without compromising comfort makes them highly suitable for uneven road conditions.
Bias tires are highly preferred for applications such as tractors, trailers, heavy machinery, and others owing to their high load-carrying capacity, which is enhanced by support from a uniform number of plies. Increasing demand for low-speed heavy hauling in the agricultural and commercial sector is anticipated to drive market growth over the forecast period. Moreover, these tires also offer excellent safety and utility; hence these tires are highly adopted in heavy haul to cater to the safety demand.
The rapid adoption of automation and heavy machinery in the agricultural sector worldwide is anticipated to create lucrative revenue growth opportunities for bias tire manufacturers in years to come.
However, overlapped plies in bias tires reduce their flexibility and make them more sensitive to overheating; hence these tires are only suitable for low-speed applications. This restrains their growth in new generation automobiles. Moreover, the availability and adoption of alternatives such as radial tires are expected to hinder the market growth during the forecast period. Despite these restraints, the global automotive bias tire market witnessed gradual growth over the past few years. The reason behind the gradual growth is the inclination of the automotive industry towards safety.
Key Market Driver -
Growing demand for heavy hauling in agricultural and industrial applications is expected to drive the market growth over the forecast period.
Key Market Restraint -
More sensitivity of bias tires to overheating may restrain the market growth during the forecast period.
The Bias Tire Market is segmented by type, by vehicle type, by sales channel, and by region.
By type, the market is segmented into general bias tires and bias-belted tires.
The bias-belted tires segment has dominated the market in 2020 and is expected to continue its dominance over the forecast period. Bias-belted tires offer smoother rides and lower rolling resistance on rough and bumpy surfaces as compared to the general bias tires. Moreover, the cost of the belted-bias tires is less as compared to general bias tires. Bias-belted tires are preferred in classic cars and in some SUVs, pickup trucks, and other commercial vehicles.
By vehicle type, the market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, construction & mining vehicles, agriculture tractors, and industrial vehicles.
The agricultural tractors segment is expected to witness the fastest growth rate over the forecast period. Agricultural tractors are designed to carry heavy loads; hence increasing demand for safety and durability in these tractors is anticipated to propel the segment growth in years to come. Heavy commercial vehicle and construction & mining vehicles segments are also expected to witness significant growth in years to come due to heavy hauling requirements in commercial, construction, and mining industries.
By sales channel, the market is segmented into Original Equipment Manufacturer (OEM) and aftermarket.
The aftermarket segment is expected to witness the fastest growth rate over the forecast period. Increasing demand for tire replacement in heavy hauling vehicles to ensure safe travel is expected to drive the segment growth. Moreover, maintenance requirements for restoring classic vintage vehicles further accelerate the demand for aftermarket sales of the bias tires. Due to its high traction and rolling resistance bias, tires wear faster as compared to radial tires; hence they require frequent replacement, which propels the aftermarket sales.
Furthermore, replacing overheated tires in the mining, construction, and manufacturing industry vehicles and equipment is anticipated to fuel the segment growth in years to come. The OEM segment is also expected to witness significant growth due to increasing demand for agricultural tractors and heavy industrial vehicles with preinstalled bias tires.
Major players operating in the global Bias Tire Market include Bridgestone Corporation, MICHELIN, The Goodyear Tire & Rubber Company, Continental AG, Cooper Tire & Rubber Company, YOKOHAMA, Rubber CO. Ltd., Pirelli & C S.p.A., JK Tire & Industries Ltd, Sumitomo Tires, Giti Tires, Hankook Tire & Technology Co. Ltd., KUMHO Tire, and Apollo Tyres Ltd. among others.
Based on geography, the Bias Tire Market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
The Asia Pacific is likely to witness the highest growth rate from 2021 to 2028. Increasing demand for agricultural tractors due to the strong presence of the agricultural sector will boost the market growth in years to come. Additionally, increasing infrastructural development and industrial expansion across emerging countries of APAC, including China, India, Japan, and others due to low manufacturing cost and availability of the raw material, will fuel the demand for bias tires. Moreover, the strong presence of the automotive industry in the Asia Pacific further accelerates market growth. North America is also likely to experience noteworthy growth from 2021 to 2028. Growth is attributed to the growing demand for heavy and light commercial vehicles in the region. Additionally, the high adoption of pickup trucks and high-capacity agricultural tractors in North America fuels the demand for bias tires.
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