Commercial Vehicle Tire Cords Global Market Report 2025

The commercial vehicle tire cords market size has grown strongly in recent years. It will grow from $4.94 billion in 2024 to $5.26 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%. The growth during the historic period can be credited to the increase in global commercial vehicle production, heightened demand for long-lasting tires, expansion of the logistics and freight sectors, urbanization and infrastructure development, as well as a rise in commercial activities.

The commercial vehicle tire cords market size is expected to see strong growth in the next few years. It will grow to $6.66 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period can be attributed to the emergence of smart tires and telematics, the expansion of last-mile delivery fleets, increased investments in cold chain and specialized transportation, innovations in raw materials, and rising demand in the aftermarket sector. Key trends expected during this period include the adoption of eco-friendly cord materials, hybrid cord designs, advanced dipping techniques, AI-powered quality monitoring systems, and smart cords integrated with embedded sensors.

The growing demand for commercial vehicles is projected to drive the expansion of the commercial vehicle tire cords market in the coming years. Commercial vehicles, primarily used for business rather than personal use, are designed to transport goods, cargo, or passengers for commercial purposes. This increasing demand is driven by the need for efficient goods and services transportation across a variety of industries. Commercial vehicle tire cords contribute to this efficiency by enhancing durability, strength, and load-bearing capacity, making them capable of withstanding the rigorous demands of long-haul and heavy-load operations. For example, in January 2024, the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade body for the automotive industry, reported that new light commercial vehicle (LCV) registrations in the UK rose by 21% in 2023, reaching 341,455 units. Consequently, the growing need for commercial vehicles is a significant factor propelling the commercial vehicle tire cords market.

Leading companies in the commercial vehicle tire cords market are emphasizing technological innovations such as environmentally friendly tire cords. These advancements aim to support high-performance tire production while minimizing environmental impact through the use of recycled polyester. Eco-friendly tire cords serve as sustainable reinforcement materials composed of recycled fibers and bonded with non-toxic, formaldehyde-free adhesives. This approach maintains the necessary strength, durability, and performance for premium tire manufacturing while reducing ecological harm. For instance, in September 2022, Teijin Frontier Co., Ltd., a Japan-based firm specializing in fiber and textile materials across industries, introduced a tire cord made with recycled polyester and eco-friendly adhesive. This product enhances tire structure, durability, shape retention, and resistance to impact and wear. Furthermore, adopting sustainable materials enables commercial fleets to lower their environmental footprint, aligning with the industry's movement toward green logistics and sustainability.

In February 2025, Yokohama Rubber Co., Ltd., a Japan-based tire manufacturer, acquired the Off-the-Road (OTR) tire division of The Goodyear Tire & Rubber Company for $905 million. This acquisition is part of Yokohama’s strategy to broaden its global footprint in the off-highway tire sector by incorporating Goodyear’s OTR product portfolio, manufacturing assets, and technical knowledge. The move enhances Yokohama’s capabilities in serving the mining and construction sectors. Goodyear Tire & Rubber Company, based in the United States, is a leading tire producer for automobiles, commercial vehicles, and industrial applications.

Major players in the commercial vehicle tire cords market are Continental AG, Bridgestone Corporation, Michelin Group, Goodyear Tire And Rubber Company, Toray Industries, Sumitomo Rubber Industries Ltd., Yokohama Rubber Co. Ltd., Hankook Tire And Technology Co. Ltd., Bekaert, ZC Rubber Group Co. Ltd., Sailun Group Co. Ltd., Kolon Industries, Toyo Tire Corporation, Apollo Tyres Ltd., Giti Tire Pte. Ltd., Kumho Tire Co. Inc., Hyosung Corporation, SRF Ltd, Nokian Tyres plc, Triangle Tyre Co. Ltd., Double Coin Holdings Ltd., Maxxis International, and Linglong Tire.

Asia-Pacific was the largest region in the commercial vehicle tire cords market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in commercial vehicle tire cords report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the commercial vehicle tire cords market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Commercial vehicle tire cords serve as reinforcing components within tire construction, especially for larger vehicles. These cords are integrated into the tire's framework to enhance strength, durability, and stability, enabling the tire to withstand heavy loads and the demanding conditions typical of commercial vehicle operations.

The primary types of tire cords used in commercial vehicles include steel cords, fabric cords, polyester cords, aramid cords, and others. Steel cords, made of high-strength and flexible steel wire, are employed as reinforcements to ensure durability, stability, and resistance to deformation under substantial loads. They are utilized across various vehicle categories such as light commercial vehicles, heavy commercial vehicles, buses, and coaches. Distribution methods encompass direct sales, wholesalers or distributors, online retail platforms, and original equipment manufacturers (OEMs). These cords are applied in diverse scenarios, including on-road and off-road use, urban commercial transport, and long-haul travel.

The commercial vehicle tire cords market research report is one of a series of new reports that provides commercial vehicle tire cords market statistics, including the commercial vehicle tire cords industry global market size, regional shares, competitors with the commercial vehicle tire cords market share, detailed commercial vehicle tire cords market segments, market trends, and opportunities, and any further data you may need to thrive in the commercial vehicle tire cords industry. This commercial vehicle tire cords market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The commercial vehicle tire cords market consists of sales of rayon tire cords, hybrid tire cords, kevlar tire cords, and textile tire cords. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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