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Expanding Automotive Industry Drives The Truck and Bus Radial (TBR) Tires Market

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Steve Blade

The expanding automotive industry across the world, even penetrating to the emerging economies is boosting the demand in tire industry. The infrastructure development, transportation necessity has increased the number of trucks & buses on roads. With the varied size & load of truck & bus there is varied demand & supply of radial tires.

Bridgestone has invested a sum of USD 12 million in its Bloomington, Illinois plant, to expand the production of tires. The tire sizes to be produced are 29, 33, and 35 inches, and have been in production only in Japan. Goodyear is the third largest tire company globally. It was last reported to employ 64,000 people and manufactures its products in 48 facilities in 22 countries around the world. It makes high-performance tires ranging from construction, passenger vehicles, commercial trucks to aircrafts. But it has lost 31.8% of its market cap since the start of 2020.

TBR tire are primarily designed for the truck & bus which are more than 21 ft. in size & more than 10,000 lbs. in gross weight of the vehicle. The TBR tires are manufactured with the purpose of supporting transportation services.

Since these vehicles have maximum travel time on highways, they are specifically designed with the features such as adaptive sidewalls for comfortable driving, low heating of tire at high speeds, higher impediment against tread-related harm, and provide benefit of low fuel consumption to enhance performance & durability.

How could Global Truck and Bus Radial (TBR) Tires Market address the COVID-19 concern?

As of 19 March 2020, the total number of global confirmed cases has reached 236,420. China has the largest number of confirmed cases as COVID-19 first appeared in Wuhan, Hubei Province. The number of confirmed COVID-19 cases has been rapidly increasing in Italy and Iran, at 41,035 and 18,407, respectively. The emergence of new cases in Asian countries has been slowing after many governments restricted travel from countries where COVID-19 is widely spread and raised entry barriers to prevent spread within the country.

As the coronavirus continues to spread, tire manufacturers to see how their companies are responding to this global pandemic and the economic challenges that have come with it. Here are some statements released by leading tire manufacturers:

Apollo Tyres said in a statement March 23 that it is scaling back production in its European plants in Hungary and the Netherlands, in addition to taking measures to protect its workforce in line with government health advisory and measures. The company also suspended production at its four manufacturing facilities in India.

Bridgestone Americas (Bridgestone) has announced plans to restart its North American commercial tire plants as well as its North American Firestone Industrial Products and Firestone Building Products manufacturing facilities on April 13. Bridgestone says its start-up plans reflect the performance trend in several key areas of its commercial and diversified products businesses not as severely affected by the current crisis. Bridgestone Bandag’s retread rubber manufacturing plants in North America resumed operations the week of March 29, due to demand by essential service providers.

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