Airless Tires Market Overviews
The Airless Tires Market, also known as non-pneumatic tires, is a rapidly evolving segment in the tire industry. These tires are designed to operate without the need for air pressure, offering a puncture-proof solution that is particularly advantageous in specific applications and industries. The market has seen significant growth due to advancements in tire technology, increasing demand for durable and maintenance-free tire solutions, and the expansion of industries such as construction, military, and commercial vehicles.
Airless Tires Market CAGR Estimation:
Airless Tires market was valued at USD 54.40 Mn in 2023 and is expected to reach USD 80.19 Mn by 2030, at a CAGR of 7.6 % during the forecast period.
Airless Tires Market Scope and Methodology:
The methodology employed in the Airless Tires Market study involves a combination of primary and secondary research, along with data triangulation and statistical analysis. The key steps include:
Data Collection:Primary Research: This involves conducting interviews with key industry stakeholders, including manufacturers, suppliers, distributors, and end-users. Surveys and discussions are carried out to gather firsthand information on market trends, challenges, and opportunities.
Secondary Research: This includes the analysis of existing market reports, industry publications, company websites, and other credible sources. Secondary research helps in gathering historical data, market size, and forecasts.
Data Analysis:Quantitative Analysis: Statistical techniques and models are used to analyze numerical data, including market size, growth rates, and market share. This includes the use of time series analysis, regression analysis, and other quantitative methods.
Qualitative Analysis: This involves the interpretation of non-numerical data, such as market trends, consumer preferences, and technological advancements. Qualitative analysis helps in understanding market dynamics and identifying key growth drivers and challenges.
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Airless Tires Market Regional Insights:
North America: United States, Canada, Mexico
Europe: Germany, France, UK, Italy, Spain, and other European countries
Asia-Pacific: China, Japan, India, South Korea, Australia, and other Asia-Pacific countries
Latin America: Brazil, Argentina, and other Latin American countries
Middle East & Africa: UAE, Saudi Arabia, South Africa, and other Middle Eastern and African countries
Airless Tires Market Segmentation:
by Material
Rubber
Plastic
Rubber and plastic make up the two segments of the airless tire market. The market for airless tires was dominated by the rubber category. Tire technology has long been developed and refined by the rubber industry. Rubber's behavior under varied situations is understood by manufacturers, who can therefore optimize the material's performance for a variety of uses. Rubber has a major advantage over other materials in the early stages of airless tire development because of its established knowledge base. Rubber provides tires with outstanding qualities. It can withstand stretching and breaking under pressure because of its high tensile strength. Additionally, it has outstanding elasticity, which makes for a smoother ride by absorbing shocks and vibrations.
by Product
Radial
Bias
The market for airless tires is divided into two segments: radial and bias. With a market share of more than 70% in the worldwide airless tire market, radial tires dominated the industry. Radial airless tires provide many advantages in terms of performance. With less rolling resistance, the radial design promotes better handling, more stability, and enhanced fuel efficiency. There is a greater variety of easily accessible radial airless tire options since manufacturers have a solid understanding of radial tire technology and its production methods. However, bias airless tires are useful in some situations. Improvements in manufacturing techniques and materials are anticipated to result in enhanced bias airless tire performance as airless tire technology develops further.
by Tire Size
<20 inches
21-25 inches
26-30 inches
31- 35 inches
>35 inches
The worldwide airless tire market is divided into five segments based on tire size: <20 inches, 21-25 inches, 26-30 inches, 31-35 inches, and >35 inches. The market is anticipated to be dominated by the 21–25 inch segment based on existing uses and advancements in airless tire technology. Early users of airless tire technology are frequently observed in specialized applications such as low-speed electric cars, construction equipment, and industrial vehicles. The 21–25-inch sector, which is well-suited for early adopter applications, maintained its dominant position with a share of over 38%. It is anticipated to maintain its leading position throughout the duration of the projection.
by Vehicle Type
Military Vehicles
PS/LT (Passenger& Light truck)
All-Terrain Vehicles
Utility Vehicles
Others
The market for airless tires is divided into several segments based on the type of vehicle, including military vehicles, truck and bus, utility vehicles, passenger and light truck, and others. Performance and dependability are given top priority in military vehicles under tough conditions. Because of their ability to reduce weight and puncture resistance, airless tires are a tactical benefit for military applications. In military drills, the airless tires are specifically made to avoid flattening and rupturing. In addition, the growing necessity for military vehicles to function in difficult terrain and soldiers' increased vulnerability to danger due to tire failures are the causes thought to be propelling the expansion of the military and all-terrain vehicle markets. Cars and light trucks that are primarily utilized for private and light commercial transportation are included in the passenger and light truck category.
by Sales Channel
OEM
Aftermarkets
With more than 90% of the market share, the OEM segment leads the worldwide airless tire industry. The growing propensity of consumers towards airless tires due to their superior performance in the market is the element ascribed to the segment's rise. The expansion of the OEMs segment is mostly dependent on the supply of safe driving conditions, increased strength, and superior service with lower maintenance. In an effort to bring down the cost of the product and draw in more customers, the makers are producing more airless tires. When an entire vehicle is designed with airless tires, OEMs have the chance to enhance performance and potentially save weight by designing and integrating airless tires from the ground up. Manufacturers may make sure new cars with airless tires fulfill their requirements.
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Airless Tires Market Key Players:
1. Michelin (France)
2. The Goodyear Tire and Rubber Company (US)
3. Bridgestone Corporation (Japan)
4. Hankook (South Korea)
5. Toyo Tire Corporation (Japan)
6. Continental AG (Germany)
7. Marathon Industries inc (US)
8. Cooper Tire (U.S.)
9. McLaren Industries (US)
10. Amerityre Corporation (U.S.)
11. Yokohama Tire Corporation (US)
12. Evolution Wheel (Canada)
13. Sunitomo Rubber Industries (Japan)
14. Trelleborg AG (Sweden)
15. GRI Tires (India)
16. Tannus Ltd (Australia)
17. SciTech Industries (Australia)
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Key questions answered in the Airless Tires Market are:
- What is Airless Tires?
- What was the Airless Tires market size in 2024?
- What is the growth rate of the Airless Tires Market?
- Which are the factors expected to drive the Airless Tires market growth?
- What are the different segments of the Airless Tires Market?
- What growth strategies are the players considering to increase their presence in Airless Tires?
- What are the upcoming industry applications and trends for the Airless Tires Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Airless Tires Market?
- Who are the leading companies and what are their portfolios in Airless Tires Market?
- What segments are covered in the Airless Tires Market?
- Who are the key players in the Airless Tires market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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