Commercial tire market to surpass €105bn by 2021

New York – The global market for commercial vehicle tires is expected to be more than $117 billion (€105 billion) by 2021, with a rising demand for Chinese products in particular, a recent study suggests.

According to a report published by market research TechSci Research on 11 July, the growth in demand will mainly be driven by construction and logistics sectors. Both sectors, the report said, are picking up and are currently worth $10 trillion and $4 trillion each respectively.

The light commercial vehicle (LCV) segment accounted…

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