AIRLESS TIRES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global airless tires market is estimated to be valued at US$ 58.80 Bn in 2024 and is expected to reach US$ 95.89 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Report Description:
Airless tires are tires that are not encased in an inflatable rubber casing as with pneumatic tires. Airless tires eliminate the risk of flat tires and blowouts as these do not rely on air pressure. These are made of a continuous ring of elastic rubber compounds that wrap around the wheel. This offers advantages such as requiring no air pressurization and maintenance as well as providing puncture protection. Airless tires are still in their introductory phase and have potential to revolutionize the tire industry by offering increased safety and reliability.
Market Dynamics:
Global airless tires market growth is driven by benefits such as zero pressure maintenance, puncture proof structure and improved traction and durability. Airless tires eliminate inconveniences associated with air-filled tires such as need for regular refilling of air pressure and vulnerability to punctures. This reduces downtime for vehicles. Their sturdy structure allows them to carry heavier loads and provides stable contact with roads. Yet, the high price of airless tires compared to traditional pneumatic ones, along with the need for custom wheel designs, restricts their popularity. Development of low-cost production techniques and integration of advanced materials to make airless tires lightweight presents opportunities for market growth. Partnerships between tire manufacturers and vehicle OEMs also offer scope for wider acceptance of this new technology.
Key features of the study:
- This report provides in-depth analysis of the global airless tires market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global airless tires market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Amerityre Corporation, Bridgestone Corporation, Continental AG, Hankook Tire & Technology Co., Ltd., Michelin, Sumitomo Rubber Industries, Ltd., The Goodyear Tire & Rubber Company, The Yokohama Rubber Co., Ltd., Toyo Tire Corporation, Trelleborg AB, Pirelli, Cooper Tire, and Tannus Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global airless tires market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global airless tires market
Market Segmentation
Market Segmentation
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