Airless Tires Market Trends, Technological Advancement, Driving Factors and Forecast to 2027

Airless Tires Market Trends, Technological Advancement, Driving Factors and Forecast to 2027

Airless Tires Market Highlights:

Airless tires eradicate the need of air pressure in the tires and provide higher durability over conventional tires. The need for improved road safety has led to the development of airless tires in order to prevent the road accidents ratio caused by punctured tires. Increasing necessity of tires that are robust and highly flexible to provide tremendous shock absorbing properties is driving the market demand for airless tires. In addition, OEMs and industry participants are developing eco-friendly tires with the recycled products such as used rubber tires and plastics, delivering a highly durable and puncture proof tires which is anticipated to drive the demand for airless tires. Moreover, greater compatibility of airless tires with commercial vehicles result in increasing ride safety with enhanced traction at low speed. However, various drawbacks offered by airless tires mainly including extreme production cost, limited performance during high speed, higher friction, less suspension, and increased rolling resistance are expected to hamper the market in future. Rising global raw material prices of natural resources including rubber is expected to change the preferences of the end users to switch from conventional tires to non-pneumatic tires over the forecast period.

The airless tires market size is expected to witness 9% CAGR during the period, 2018 to 2023.

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Market Research Analysis

In terms of region, the global airless tires market share is divided into North America, Europe, Asia-Pacific, and The Rest of the World. North America is expected to dominate the global market share of airless tires owing to early adoption of non-pneumatic tires coupled with advancements in automotive industry. Moreover, rising road accident safety concerns due to tire blowout is anticipated to drive the market demand during the forecast period. Stringent regulations directed by European Commission for driver’s convenience and safety along with introduction of advanced chip embedded tires is anticipated to augment the market demand in future. Growing number of automotive industries in the countries like China, South Korea, and Japan is predicted to expand the market share of Asia-Pacific over the forecast period.

Scope of the Report

This study provides an overview of the global airless tires market growth, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and The Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global airless tire market by product, vehicle type, material, tire size, sales channel and regions.

By Product
  
Radial Tires

Bias Tires

By Vehicle Type
  
Military Vehicles

Light Commercial Vehicles (LCV)

Heavy Commercial Vehicles (HCV)

Terrain Vehicles

Utility Vehicles

Two-wheelers

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By Material
  
Rubber

Plastic

By Tire size
  
20 inches

21-25 inches

26-30 inches

31-35 inches

35 inches

By Sales Channel
  
Original Equipment Manufacturer (OEM)

Aftermarket

By Regions
  
North America 

Asia Pacific 

Europe

The Rest of the World

Key Players

The prominent market players in the global airless Tire market include Bridgestone Corporation (Japan), Hankook Tire (South Kores), The Goodyear Tire Rubber Company (US), Pirelli (US), Sunitomo Rubber Industries (Japan), Amerityre Corporation (US), Michelin (France), Toyo Tire Rubber Co. Ltd. (Japan), Cooper Tire (US), Tannus Ltd. (Korea).

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About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

 

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