#Airless Tires Market Forecast

[lalsingh228-blog]

Airless Tires Market to See Huge Growth by 2030

Global Airless Tires Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, player’s market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions. Some are the key & emerging players that are part of coverage and have being profiled are Michelin Group (France), Cooper Tire & Rubber Company (United States), Goodyear Tire & Rubber Company (United States), Hankook Tire Group (South Korea), Bridgestone Corporation (Japan), Tannus Ltd. (United Kingdom), Toyo Tires (Japan), Sumitomo Rubber Industries (Japan), Amerityre Corporation (United States), Kenda Rubber Industrial Company (Taiwan), Marathon Industries, Inc. (United States). Get Free Exclusive PDF Sample Copy of This Research @ https://www.advancemarketanalytics.com/sample-report/27848-global-airless-tires-market The airless tire is tires which are not upheld by air pressure. It is used in small vehicles, for example, riding yard cutters and mechanized golf trucks. They are additionally used in irresistible hardware, such as excavators, which are required to work on locales, for example, building obliteration, where the danger of tire punctures is high. Tires made out of shutting cell polyurethane froth are also made for bikes and wheelchairs. The main thing which must be considered when trying to design a non-pneumatic tire is the issue of deformation. The tire must be strong enough to hold the car and withstand a large amount of abuse, and also be able to deform slightly when it comes in contact with the road.

The titled segments and sub-section of the market are illuminated below:

by Type (Radial, Bias), Vehicle (Light Commercial Vehicles, Heavy Commercial Vehicles, Military Vehicles, Passenger Cars, Two-Wheelers), Sales Channel (Original Equipment Manufacturers, Aftermarket), Material (Rubber, Plastic)

Market Trends:

Evolving More Reliable and Seamless Airless Tire Design

Increasing Emphasis on 3D-Printed Airless Tires

Opportunities:

Upsurge in Demand for Airless Tires in Aftermarket and Technological Advancements

Market Drivers:

Prevent Accidents Due To Blowouts and Punctures Which Ensure Safety

Rise in Number of Heavy Commercial Vehicles Due To Urbanization

Global Airless Tires market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to help the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years. Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & AfricaCountry Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc. Have Any Questions Regarding Global Airless Tires Market Report, Ask Our Experts@ https://www.advancemarketanalytics.com/enquiry-before-buy/27848-global-airless-tires-market Points Covered in Table of Content of Global Airless Tires Market:

Chapter 01 – Airless Tires Executive Summary

Chapter 02 – Market Overview

Chapter 03 – Key Success Factors

Chapter 04 – Global Airless Tires Market - Pricing Analysis

Chapter 05 – Global Airless Tires Market Background

Chapter 06 -- Global Airless Tires Market Segmentation

Chapter 07 – Key and Emerging Countries Analysis in Global Airless Tires Market

Chapter 08 – Global Airless Tires Market Structure Analysis

Chapter 09 – Global Airless Tires Market Competitive Analysis

Chapter 10 – Assumptions and Acronyms Chapter 11 – Research Methodology Read Detailed Index of full Research Study at @https://www.advancemarketanalytics.com/reports/27848-global-airless-tires-market Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia. Contact US : Craig Francis (PR & Marketing Manager) AMA Research & Media LLP Unit No. 429, Parsonage Road Edison, NJ New Jersey USA – 08837 Phone: +1 201 565 3262, +44 161 818 8166 sales@advancemarketanalytics.com

[tritonmarketresearchamey]

Tire Aftermarket, Tire Replacement Market: A Competing Shift

A flat tire is among the several inconveniences vehicle owners aim to avoid. Whether due to valve system damage or blowout due to over-inflation, the absence of a proper tire can severely damage the wheel and trigger tire replacement. This drawback has instigated several tire producers to invest in R&D to develop high-performance, fuel-efficient tires, opening avenues for the global tire aftermarket, tire replacement market.

Additionally, integrating systems like anti-lock braking systems, electronic power control, and tire pressure monitoring systems has upheaved the demand for tire aftermarket services. Our estimates have gathered that the global market is set to gain revenue worth $93.38 billion by 2028, rising at a CAGR of 4.43% during the forecast years 2022-2028.

Developments in Aftermarket Services

Wait, did you say airless tires? Instead of air, tires are now integrated with a network of spokes that keeps the wheels rigid while giving them a see-through appearance. Each year, around 20% of tires are trashed due to puncture or uneven wear, stimulating manufacturers like Michelin to launch UPTIS airless automobile tire design that results in lower raw material and waste consumption. In this regard, the company has teamed up with GM to introduce UPTIS by 2024.

Besides, the tires’ ability to bear high weight and absorb shocks is anticipated to support the growth of the 16-18-inch rim size category. Numerous players have opted for this size since it offers additional grip, braking performance, and ride comfort, a major driving force for the tire aftermarket, tire replacement market.

The Green Initiative: With the average crude oil price rising from $39.68 in 2020 to $97.64 in 2022 and the rising carbon footprint, the demand for energy-efficient tires has boosted the tire replacement market. Besides, advances in tire energy efficiency can decrease global fuel consumption by around 5% in passenger vehicles, per the International Council on Clean Transportation. This has led low rolling resistance tires to gain immense traction among consumers to lower their total carbon footprint.

Considering this trend, in January 2023, Goodyear revealed a demonstration tire made of 90% sustainable materials, including carbon black and soybean oil. While it stated the need for further collaboration to bring 90% sustainable tires into the market, the company plans to sell them with 70% sustainable material in 2023. Our analysis indicates that the radial tire type captures the highest share in the market as it has lower rolling resistance, achieving greater fuel efficiency.

Labeling Culture: Labeling has emerged as a viable solution to differentiate products from packaging to tires. However, governments are striving to implement standards to eliminate redundant performance classes from the scale. For instance, the label design will be changed in the US with snow and ice grip symbols. The European Commission also introduced Euro 7 standards for particle emission from tires and brakes to ensure cleaner vehicular movement and air quality across the region.

Other than this, the Indian government mandated new standards in 2021 to enhance fuel efficiency and braking impact on wet roads. Earlier in 2022, Michelin became the first tire brand to receive a 4-star rating by the Bureau of Energy Efficiency, India, under the new star labeling program. Such steps by government bodies to promote sustainability are set to be a growth enabler for the Asia-Pacific tire aftermarket, tire replacement market.

Electric Vehicle: Revving Up the Ride

Over the course of a decade, electric vehicle sales soared to reach around 7 million units in 2021. Fueled by the falling costs of lithium-ion batteries, the rising EV sales have revolutionized the automotive industry and the tire sector. Furthermore, since the additional weight of batteries in EVs lead to enhanced stiffness, the demand for cutting-edge tires has accelerated. As a result, companies like Bridgestone have unveiled ENLITEN Technology that decreases tire rolling resistance by 30% and weight by 20% to expand EV driving range and reduce environmental impact. Therefore, the EV industry is attractive for expanding the tire aftermarket, tire replacement market.

 

FAQs:

Q1) What are the types of tires in the aftermarket, tire replacement market?

There are two major types of tires, namely, radial and bias, in the tire aftermarket, tire replacement market.

Q2) Which region will witness the fastest growth during the forecast period?

Asia-Pacific tire aftermarket, tire replacement is anticipated to witness the fastest growth, attaining a CAGR of 5.09% during the forecast period 2022-2028.

[priyanshisingh]

Airless Tires Market Insights: Comprehensive Global Forecast (2023-2032)

The global demand for Airless Tires was valued at USD 1102.2 million in 2023 and is expected to reach USD 1709.8 million in 2032, growing at a CAGR of 5.00% between 2024 and 2032.

Airless tires market is a burgeoning sector within the broader automotive and transportation industry, characterized by the development and commercialization of tires that do not require air pressure to maintain their shape and functionality. These tires, also known as non-pneumatic tires (NPT), are constructed from durable materials like rubber and plastic composites, often featuring a unique spoke or honeycomb structure that provides support and flexibility. The market is driven by several key factors, including the increasing demand for maintenance-free and puncture-proof tires, which offer enhanced reliability and longevity compared to traditional pneumatic tires. Airless tires are particularly appealing for use in harsh environments and applications such as military vehicles, construction machinery, and agricultural equipment, where the risk of punctures is high and downtime is costly.

Despite the higher initial cost and some limitations in ride comfort and speed compared to conventional tires, the market is poised for significant growth, driven by the increasing emphasis on sustainability, safety, and cost-efficiency in vehicle operations. The adoption of airless tires is expected to expand as these technological and economic benefits become more pronounced, making them a viable alternative in various vehicle segments.

Airless Tires: Key Points

Construction:

Made from durable materials such as rubber and plastic composites.

Often feature a unique structural design, such as spokes or a honeycomb pattern, to provide support and flexibility.

Advantages:

Puncture-Proof: Eliminate the risk of flats and blowouts, enhancing safety and reliability.

Maintenance-Free: Require less maintenance compared to traditional pneumatic tires, as they do not need to be inflated.

Durability: Typically have a longer lifespan due to their robust construction.

Applications:

Ideal for use in harsh environments and demanding applications, such as military vehicles, construction machinery, and agricultural equipment.

Increasingly being explored for mainstream automotive use, including passenger cars and light trucks.

Performance:

Improved reliability in challenging conditions where traditional tires are prone to punctures.

Some limitations in ride comfort and speed performance compared to conventional pneumatic tires.

Market Drivers:

Growing demand for maintenance-free and puncture-resistant tires.

Advancements in materials and manufacturing technologies improving the feasibility and performance of airless tires.

Emphasis on sustainability, safety, and cost-efficiency in vehicle operations.

Higher initial cost compared to traditional tires.

Limited availability and adoption in the consumer market.

Ongoing development needed to enhance ride comfort and performance.

Future Outlook:

The market for airless tires is expected to grow as technological advancements continue and the benefits of airless tires become more widely recognized.

Potential for significant adoption in various vehicle segments as the technology matures and becomes more cost-effective.

Major Key Players-

Ameritire Corporation

Bridgestone Corporation

Continental AG

Hankook Tire & Technology Co., Ltd.

Michelin

Sumitomo Rubber Industries, Ltd.

The Goodyear Tire & Rubber Company

Toyo Tire Corporation

The Yokohama Rubber Co., Ltd.

Trelleborg

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Airless Tires Market Trends-

Technological Advancements:

Continuous innovation in materials and design to enhance the performance and durability of airless tires.

Development of advanced manufacturing techniques to reduce production costs and improve scalability.

Increased R&D Investment:

Major tire manufacturers, including Michelin and Bridgestone, are heavily investing in research and development to refine airless tire technology.

Focus on improving ride comfort, load-bearing capacity, and speed capabilities.

Commercialization and Pilot Programs:

Several companies are conducting pilot programs and field tests in collaboration with automotive and industrial partners.

Early commercialization efforts targeting niche markets such as military, construction, and agriculture.

Sustainability Focus:

Growing emphasis on sustainability is driving interest in airless tires, which offer reduced waste and longer service life compared to traditional tires.

Potential for airless tires to be made from recyclable materials, further enhancing their environmental appeal.

Automotive Industry Adoption:

Increasing exploration of airless tires for use in passenger cars and light trucks, driven by the promise of maintenance-free operation and enhanced safety.

Potential integration with electric and autonomous vehicles, which require low-maintenance and reliable tire solutions.

Regulatory Support and Safety Standards:

Development of industry standards and regulatory frameworks to ensure the safety and performance of airless tires.

Government and industry initiatives to promote the adoption of innovative tire technologies.

Consumer Awareness and Acceptance:

Growing consumer awareness of the benefits of airless tires, including their puncture-proof nature and reduced maintenance needs.

Education and marketing efforts by manufacturers to highlight the advantages and address any concerns related to ride quality and cost.

Cost Reduction Efforts:

Ongoing efforts to reduce the manufacturing and material costs of airless tires, making them more competitive with traditional pneumatic tires.

Economies of scale expected as production volumes increase and technology matures.

Expansion into New Markets:

Exploration of new market opportunities in emerging economies where infrastructure development and industrial activities are growing.

Potential for significant market growth in regions with harsh operating conditions that benefit from the durability and reliability of airless tires.

Partnerships and Collaborations:

Collaboration between tire manufacturers, automotive companies, and technology firms to accelerate the development and deployment of airless tires.

Strategic partnerships to leverage expertise and resources, facilitating faster market penetration and innovation.

Segmentation

By Material Composition:

Rubber-based Airless Tires

Polyurethane-based Airless Tires

Plastic-based Airless Tires

Composite-based Airless Tires

Others

By Type of Airless Tires:

Radial Airless Tires

Bias Airless Tires

Belted Airless Tires

Non-Belted Airless Tires

By Application:

Military and Defense Vehicles

Off-road Vehicles (e.g., ATVs, UTVs, golf carts)

Commercial and Industrial Vehicles (e.g., forklifts, skid steers, construction equipment)

Lawn and Garden Equipment (e.g., lawn mowers, tractors, wheelbarrows)

Bicycles and Electric Scooters

Wheelchairs and Mobility Aids

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[rushikesh-d]

Automotive Airless Tire Market To Witness the Highest Growth Globally in Coming Years

The report begins with an overview of the Automotive Airless Tire Market and presents throughout its development. It provides a comprehensive analysis of all regional and key player segments providing closer insights into current market conditions and future market opportunities, along with drivers, trend segments, consumer behavior, price factors, and market performance and estimates. Forecast market information, SWOT analysis, Automotive Airless Tire Market scenario, and feasibility study are the important aspects analyzed in this report.

The Automotive Airless Tire Market is experiencing robust growth driven by the expanding globally. The Automotive Airless Tire Market is poised for substantial growth as manufacturers across various industries embrace automation to enhance productivity, quality, and agility in their production processes. Automotive Airless Tire Market leverage robotics, machine vision, and advanced control technologies to streamline assembly tasks, reduce labor costs, and minimize errors. With increasing demand for customized products, shorter product lifecycles, and labor shortages, there is a growing need for flexible and scalable automation solutions. As technology advances and automation becomes more accessible, the adoption of automated assembly systems is expected to accelerate, driving market growth and innovation in manufacturing. Automotive Airless Tire Market Size, Share & Industry Analysis, By Type (Radial, Bias), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) and Regional Forecast, 2022-2029

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Key Strategies

Key strategies in the Automotive Airless Tire Market revolve around optimizing production efficiency, quality, and flexibility. Integration of advanced robotics and machine vision technologies streamlines assembly processes, reducing cycle times and error rates. Customization options cater to diverse product requirements and manufacturing environments, ensuring solution scalability and adaptability. Collaboration with industry partners and automation experts fosters innovation and addresses evolving customer needs and market trends. Moreover, investment in employee training and skill development facilitates seamless integration and operation of Automotive Airless Tire Market. By prioritizing these strategies, manufacturers can enhance competitiveness, accelerate time-to-market, and drive sustainable growth in the Automotive Airless Tire Market.

Major Automotive Airless Tire Market Manufacturers covered in the market report include:

Some of the major companies that are present in the automotive airless tire market include Bridgestone Corporation, The Goodyear Tyre & Rubber Company, Continental AG, MICHELIN, Pirelli Tyre S.p.A, Sumitomo Rubber Industries Ltd, Hankook Tire Co.Ltd, Yokohama Tire Corporation, and SciTech Industries among the other players.

The high cost of airless compared to conventional tires of the vehicles is expected to hamper the growth of the automotive airless tire market over the forecast period.

Trends Analysis

The Automotive Airless Tire Market is experiencing rapid expansion fueled by the manufacturing industry's pursuit of efficiency and productivity gains. Key trends include the adoption of collaborative robotics and advanced automation technologies to streamline assembly processes and reduce labor costs. With the rise of Industry 4.0 initiatives, manufacturers are investing in flexible and scalable Automotive Airless Tire Market capable of handling diverse product portfolios. Moreover, advancements in machine vision and AI-driven quality control are enhancing production throughput and ensuring product consistency. The emphasis on sustainability and lean manufacturing principles is driving innovation in energy-efficient and eco-friendly Automotive Airless Tire Market Solutions.

Regions Included in this Automotive Airless Tire Market Report are as follows:

North America [U.S., Canada, Mexico]

Europe [Germany, UK, France, Italy, Rest of Europe]

Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]

South America [Brazil, Argentina, Rest of Latin America]

Middle East & Africa [GCC, North Africa, South Africa, Rest of the Middle East and Africa]

Significant Features that are under offering and key highlights of the reports:

- Detailed overview of the Automotive Airless Tire Market.

- Changing the Automotive Airless Tire Market dynamics of the industry.

- In-depth market segmentation by Type, Application, etc.

- Historical, current, and projected Automotive Airless Tire Market size in terms of volume and value.

- Recent industry trends and developments.

- Competitive landscape of the Automotive Airless Tire Market.

- Strategies of key players and product offerings.

- Potential and niche segments/regions exhibiting promising growth.

Frequently Asked Questions (FAQs):

► What is the current market scenario?

► What was the historical demand scenario, and forecast outlook from 2024 to 2030?

► What are the key market dynamics influencing growth in the Global Automotive Airless Tire Market?

► Who are the prominent players in the Global Automotive Airless Tire Market?

► What is the consumer perspective in the Global Automotive Airless Tire Market?

► What are the key demand-side and supply-side trends in the Global Automotive Airless Tire Market?

► What are the largest and the fastest-growing geographies?

► Which segment dominated and which segment is expected to grow fastest?

► What was the COVID-19 impact on the Global Automotive Airless Tire Market?

Table Of Contents:

1 Market Overview

1.1 Automotive Airless Tire Market Introduction

1.2 Market Analysis by Type

1.3 Market Analysis by Applications

1.4 Market Analysis by Regions

1.4.1 North America (United States, Canada and Mexico)

1.4.1.1 United States Market States and Outlook 

1.4.1.2 Canada Market States and Outlook 

1.4.1.3 Mexico Market States and Outlook 

1.4.2 Europe (Germany, France, UK, Russia and Italy)

1.4.2.1 Germany Market States and Outlook

1.4.2.2 France Market States and Outlook 

1.4.2.3 UK Market States and Outlook

1.4.2.4 Russia Market States and Outlook 

1.4.2.5 Italy Market States and Outlook 

1.4.3 Asia-Pacific (China, Japan, Korea, India and Southeast Asia)

1.4.3.1 China Market States and Outlook

1.4.3.2 Japan Market States and Outlook 

1.4.3.3 Korea Market States and Outlook 

1.4.3.4 India Market States and Outlook 

1.4.3.5 Southeast Asia Market States and Outlook 

1.4.4 South America, Middle East and Africa

1.4.4.1 Brazil Market States and Outlook

1.4.4.2 Egypt Market States and Outlook 

1.4.4.3 Saudi Arabia Market States and Outlook 

1.4.4.4 South Africa Market States and Outlook 

1.5 Market Dynamics

1.5.1 Market Opportunities

1.5.2 Market Risk

1.5.3 Market Driving Force

2 Manufacturers Profiles

Continued…

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[markettrendsus]

The Expanding Tire Material Market: Growth Drivers, Opportunities, and Leading Players

The global tire material market is undergoing steady expansion, projected to reach $106.5 billion by 2033 after growing at a 3.9% CAGR between 2024 and 2033. Several factors are driving growth in this market, creating opportunities for companies involved in supplying raw materials for tire production. This article will provide an in-depth look at the tire material market, including market size and forecasts, growth drivers, opportunities, leading players, and frequently asked questions.

Introduction to the Tire Material Market

Tire materials refer to the raw materials used in manufacturing tires for vehicles. This includes reinforcing fillers, elastomers, chemicals, plasticizers, metal reinforcements, and textile reinforcements. These materials provide tires with durability, flexibility, strength, grip, traction, and wear resistance.

The tire material market caters to original equipment manufacturers (OEMs) producing tires for new vehicles and the automotive aftermarket providing replacement tires. With vehicle production and sales expanding globally and the need for replacement tires as vehicles age, demand for tire raw materials continues rising.

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Tire Material Market Outlook and Projections

As per the recent analysis, the global tire material market was valued at $75.1 billion in 2024 and is expected to reach $106.5 billion by 2033. This represents an impressive CAGR of 3.9% during this period.

Several factors are fueling the consistent growth of the tire material market, which will be explored in the next section. In addition, opportunities exist for market players to leverage the latest tire technologies and sustainable materials.

Key Growth Drivers in the Tire Material Market

The major factors propelling the growth of the global tire material market include:

Increasing vehicle production and sales: With improving economic conditions in developing nations, vehicle sales are rising rapidly, driving automotive and tire production.

Growth in the transportation and logistics sector: Expansion of transportation fleets across the world to meet surging consumer demand is spurring commercial vehicle tire production.

Development of all-season and specialty tires: All-season, run-flat, and other premium tires require advanced materials, augmenting market growth.

Focus on fuel efficiency and eco-friendly tires: Use of silica and other materials for producing energy-efficient and green tires is rising.

Advancements in tire technologies and materials: Companies are developing novel materials and tire technologies like airless tires, fueling market growth.

These factors will propel the tire material market to reach over $100 billion by 2033.

Opportunities in the Tire Material Market

Some of the promising opportunities in the tire material market include:

Sustainable materials: Using recycled, renewable, and biodegradable materials represents a significant opportunity. Companies can develop partnerships with suppliers and leverage green chemistries.

Smart tire technologies: Incorporating sensors and intelligence in tires through advanced materials provides an opportunity for product differentiation.

Customization: Offering bespoke compounding solutions and custom tire materials allows serving OEMs better.

Capacity expansion: Setting up additional manufacturing capacity and entering high-growth regions can be opportunistic. Partnerships can help mitigate risks.

Research and innovation: Continuous R&D into novel materials like graphene, soybean oil, and liquefied wood offers differentiation.

Capitalizing on these opportunities can help secure a strong foothold in this high-potential market.

Leading Players in the Tire Material Market

The tire material market is fragmented with many small and large players. However, some prominent public companies lead the market, including:

Royal Dutch Shell: A key supplier of butadiene, carbon black, and other synthetics. Also has latex production capacity.

SIBUR INTERNATIONAL: Among the top suppliers of synthetic rubbers and a pioneer in solution-polymerized styrene-butadiene rubber (SSBR) for tire production.

Orion Engineered Carbons: A leading supplier of rubber and specialty carbon blacks for tire and mechanical rubber goods industries.

PetroChina Company Limited: Supplies synthetic rubber, butadiene, and other petrochemical feedstocks for tires.

Phillips 66: Manufactures synthetic rubber, resins, carbon black, and reinforcing fillers used in tire manufacturing.

These large, established companies dominate, but small and mid-sized regional players also have significant market share cumulatively.

Frequently Asked Questions About the Tire Material Market

Here are some common questions regarding the tire material market:

Q: What are the most widely used materials for tire manufacturing?

A: Rubber, carbon black, metal and textile reinforcements, anti-degradants, accelerators, and vulcanizing chemicals are the most extensively used materials. Rubber accounts for over 40% of a tire's materials by weight.

Q: Which region dominates the tire material market?

A: Asia Pacific holds the largest share of the global tire material market, owing to massive tire production capacity in China, India, Thailand, Indonesia, and Malaysia. China alone produces over 30% of the world's tires.

Q: What materials are gaining prominence in tire manufacturing?

A: Sustainable materials like soybean oil, silica, liquefied wood, and recycled rubber are being increasingly adopted. Additionally, technological materials like sensor fabrics, shape memory alloys, and graphene are also gaining traction.

Q: How have raw material prices impacted the tire market?

A: Prices of key feedstocks like rubber, steel, oil, carbon black, and chemicals have witnessed volatility in recent years. This has put pressure on tire manufacturers' margins. Some companies have managed this volatility through long-term contracts and vertical integration.

Q: What is the supply chain structure of the tire materials industry?

A: The upstream is dominated by chemical, petrochemical, rubber, and reinforcement manufacturers. Midstream players like compounders supply formulated rubber compounds. The downstream comprises tire manufacturers who are the direct customers for tire materials.

Q: Which are the most common performance deficiencies seen in tire materials?

A: Common deficiencies include inadequate traction, rolling resistance, wear resistance, strength, stiffness, flex fatigue, and cut/chip resistance. These depend on the compound formulation and production quality control.

Conclusion

The tire material market exhibits a healthy growth rate, expected to reach over $100 billion by 2033. Rising automotive production and sales paired with the booming transportation sector is driving raw material demand. Leading global corporations and regional players supply various tire ingredients to the industry. Opportunities exist in sustainable materials, smart tire technologies, customization, and research. The tire industry and associated material markets promise robust, sustained expansion in line with mobility and logistics needs. Companies recognizing promising areas and innovating tire materials will reap rich dividends.

[vijukumar]

Tire Market: Trends, Challenges, and Future Outlook

In the bustling world of automotive industries, the tire market stands as a crucial cornerstone, shaping not just transportation but also influencing global economies. As vehicles traverse varied terrains and climates, tires play a pivotal role in ensuring safety, efficiency, and performance. With the continuous advancements in technology, shifting consumer preferences, and environmental concerns, the tire market is witnessing dynamic changes, presenting both challenges and opportunities for stakeholders.

Understanding the Current Landscape

Tire Market Overview: The tire market encompasses a vast array of segments, including passenger vehicles, commercial vehicles, off-highway vehicles, and specialty vehicles. The global Automotive Tire market size is estimated to be worth US$ 134990 million in 2022 and is forecast to a readjusted size of US$ 167870 million by 2028 with a CAGR of 3.7% during the review period. According to recent research reports, the global tire market is experiencing steady growth, driven by factors such as increasing vehicle production, rising disposable incomes, and expanding automotive aftermarket services.

Market Share and Revenue: Leading tire manufacturers vie for market share, constantly innovating to gain a competitive edge. Companies such as Michelin, Bridgestone, Goodyear, and Continental consistently feature among the top players in terms of revenue and market presence. Their strategies encompass product diversification, technological advancements, and strategic partnerships to capture a larger market share.

Industry Analysis: The tire industry undergoes rigorous analysis to identify emerging trends, consumer preferences, and competitive landscapes. Market research reports delve deep into various aspects such as tire types (radial, bias), materials (rubber, synthetic), and end-users (OEMs, aftermarket).

Trends Shaping the Future

Shift towards Sustainable Solutions: With increasing environmental consciousness, there's a notable shift towards eco-friendly tire solutions. Manufacturers are exploring alternatives to traditional rubber, incorporating recycled materials, and developing tires with lower rolling resistance to enhance fuel efficiency.

Rise of High-Performance Tires: Enthusiasts and consumers alike are driving the demand for high-performance tires, seeking superior handling, grip, and durability. This segment encompasses not only sports cars but also performance-oriented SUVs and sedans, presenting lucrative opportunities for tire manufacturers.

Technological Innovations: The tire industry is witnessing a surge in technological innovations, including the development of airless tires, intelligent tires embedded with sensors for real-time monitoring, and advancements in tire manufacturing processes such as 3D printing and nanotechnology.

Digital Transformation: Digitalization is revolutionizing the tire industry, from online tire sales platforms to tire pressure monitoring systems (TPMS) integrated into vehicles. Data analytics and artificial intelligence are being leveraged to optimize tire performance, predict maintenance needs, and enhance overall driving safety.

Challenges to Navigate

Supply Chain Disruptions: The tire industry, like many others, faces challenges stemming from supply chain disruptions, raw material shortages, and geopolitical uncertainties. Striking a balance between global sourcing and local production becomes essential to mitigate risks and ensure continuity.

Regulatory Compliance: Stringent regulations pertaining to tire manufacturing, labeling, and disposal pose compliance challenges for manufacturers. Adhering to standards related to safety, emissions, and sustainability requires continuous adaptation and investment in R&D.

Market Fragmentation: The tire market is inherently fragmented, with diverse consumer preferences, regional variations, and vehicle-specific requirements. Tailoring product offerings to meet varied demands while maintaining economies of scale presents a balancing act for manufacturers.

Future Outlook

Despite challenges, the future of the tire market appears promising, driven by innovation, sustainability initiatives, and technological advancements. As electric vehicles gain prominence, the demand for specialized tires optimized for EV performance is expected to rise. Moreover, the advent of autonomous vehicles opens new avenues for tire manufacturers, necessitating tires capable of meeting the unique demands of self-driving technology.

Conclusion

The tire market remains dynamic and resilient, adapting to changing landscapes while catering to evolving consumer needs. By embracing innovation, sustainability, and digital transformation, stakeholders can navigate the complexities of the tire industry and emerge stronger in the competitive global market. As we journey towards a future of mobility, tires will continue to be the foundation upon which safe and efficient transportation relies.

[sudeepkedar]

Airless Tires Market: Industry Potential, Trends and forecast to 2032

Airless Tires Market is projected to cross USD 85 Mn by 2032. Increasing investments in the defense sector would support the deployment of airless tire technology in military vehicles. These tires can endure tough terrain and other environmental conditions. Features like puncture resistance and reduced weight would eliminate the need for military vehicles to carry a spare tire. This further reduces the weight of these vehicles and cuts the time used to repair punctured tires. Ongoing geopolitical tensions and conflicts between nations would ramp up the demand for military vehicles fitted with airless tires. For instance, the recent Russia-Ukraine conflict has driven the demand for combat vehicles over the last year.

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Airless tires market share from the passenger & commercial vehicle segment is anticipated to observe more than 19.5% CAGR between 2023 and 2032. Rising sales for passenger vehicles and a need for puncture-resistant tires will drive product penetration. Many industry players are working on developing new airless tires specifically for the commercial sector. For instance, in 2023, Michelin partnered with DHL to test the airless tire dubbed Uptis. As part of this partnership, more than 50 DHL express vans will be using puncture-proof tires in Singapore by the end of 2023.

As per the report, the airless tires industry size from the rubber material segment is expected to surpass USD 30 million by 2032. Airless tires made using rubber function as a movable cushion and can better withstand the impact of vibrations and automobile-based shocks. New innovations in rubber technology will aid market players to develop advanced airless rubber tires. For instance, in 2020, Goodyear announced that it will launch tires using sustainable materials by the end of 2030. The company will also begin testing an airless tire on delivery robots at Ohio’s Bowling Green State University. Such developments are expected to boost the airless tire market growth in the coming years.

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According to the research report, North America airless tires market is expected to be worth USD 23 million by 2032. In the US, ATVs are used for emergency medical response, land management, ranching and farming, small-scale forest activities, etc. The use of ATVs for agriculture purposes is high as it eases the process of farming like sowing seeds, applying chemicals, inspecting the farm, and much more. As the demand for ATVs increases, the application of airless tires in ATVs will also increase. New product launches and advancements in airless tire technology would foster regional market growth.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Airless Tires Market industry 3600 synopsis, 2018 – 2032

2.1.1    Business trends

2.1.2    Vehicle trends

2.1.3    Material trends

2.1.4    Product trends

2.1.5    Sales channel trends

2.1.6    Regional trends

Chapter 3   Airless Tires Industry Insights

3.1    Industry segmentation

3.2    Industry size and forecast, 2018 – 2032

3.2.1    COVID-19 impact on industry landscape

3.3    Industry ecosystem analysis

3.3.1    Raw material suppliers

3.3.2    Manufacturers

3.3.3    Distribution chain analysis

3.3.4    Sales Channel

3.3.5    ) Shareholder profit margin analysis

3.3.6    Vendor matrix

3.4    Regulatory landscape

3.5    Technology and innovation landscape

3.6    Patent analysis

3.7    Pricing analysis

3.7.1    Cost structure analysis

3.8    Industry impact forces

3.8.1    Growth drivers

3.8.1.1   Growing demand for all terrain and military vehicles

3.8.1.2   Technological advancements in the products

3.8.1.3   Superior product efficiency as compared to conventional products

3.8.2    Industry pitfalls & challenges

3.8.2.1   Manufacturing complexity and high product cost

3.9    Porter’s analysis

3.10    PESTEL analysis

3.11    Russia-Ukraine war impact analysis

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[delvenservices]

Advanced Tires Market Growth Opportunities & Key Players: 2028

Advanced Tires Market, By On-Highway & Off-Highway Vehicle, Technology (TPMS, Chip-Embedded, Self-Inflating, All-in-one, Multi-Chamber), Autonomous Vehicle, 3D Printed, Type (Run-flat, Airless, Pneumatic), Material and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa and South America)

Market Overview

The Global Advanced Tires market is anticipated to reach USD 220.9 million in 2021 growing at a CAGR of 18.4% during the forecasting period, 2021-2028.

Advanced tires are a range of new generation tires that differ in multiple ways from a conventional tire. They are made from multiple materials and are airless and thus puncture less. These have a lesser surface area which increases the fuel efficiency without affecting the grip of the tires. Chip-based tires are also available that sense the conditions of the road and then decide upon the functionality.

The high replacement, repair, and maintenance cost of the conventional tires along with the recent trend of driver assistance and the newer technology that uses green raw material to manufacture a new range of tires are some of the factors that have supported long-term expansion for Advanced Tires industry.

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Key Findings

Global Advanced Tires market is segmented into On-Highway & Off-Highway Vehicle, Technology, Autonomous Vehicle, 3D Printed, Type, Material and geography.

The product segment is segmented into TPMS, Chip-Embedded, Self-Inflating, All-in-one, Multi-Chamber

The type segment is segmented into Run-flat, Airless, and Pneumatic

Geographically, the global Advanced Tires market is sub-segmented into North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America, and insights are provided for each region and major countries within the regions.

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Competitive Landscape

Key players in the global Advanced Tires market are

Continental (Germany),

Bridgestone (Japan),

Michelin (France),

Goodyear(US),

Pirelli (Italy),

Sumitomo (Japan),

Yokohama (Japan),

Hankook Tire (South Korea),

Nokian (Finland),

CEAT (India),

Toyo Tire (Japan)

Reasons to Acquire

Increase your understanding of the market for identifying the best and suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors

Gain authentic and granular data access for the Advanced Tires market to understand the trends and the factors involved in changing market situations

Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future

In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

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The Advanced Tires Market report answers a number of crucial questions, including:

Which companies dominate the Advanced Tires Market?

What current trends will influence the market over the next few years?

 What are the market's opportunities, obstacles, and driving forces?

What predictions for the future can help with strategic decision-making?

What advantages does market research offer businesses?

Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?

What is the anticipated growth rate for the market economy globally?

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Read More Industry Related Reports:

[theinsightpartners879]

Airless Tire Market

According to new research study on Airless Tire Market research report provides size, share, trends, analysis report contains all study material about market industry overview, growth, demand and forecast research in all over the world. The report also analyses the competitive structure of the Airless Tire and provides the profiles of major players operating in the market. Growth inducing factors, market restraints and recent developments have also been analyzed in the report in order to provide deeper knowledge about the industry.

To Get Sample Copy of Report, Click Here – https://www.theinsightpartners.com/sample/TIPTE100000805/   

[rohittriton]

Tire Aftermarket, Tire Replacement Market: A Competing Shift

A flat tire is among the several inconveniences vehicle owners aim to avoid. Whether due to valve system damage or blowout due to over-inflation, the absence of a proper tire can severely damage the wheel and trigger tire replacement. This drawback has instigated several tire producers to invest in R&D to develop high-performance, fuel-efficient tires, opening avenues for the global tire aftermarket, tire replacement market.

Additionally, integrating systems like anti-lock braking systems, electronic power control, and tire pressure monitoring systems has upheaved the demand for tire aftermarket services. Our estimates have gathered that the global market is set to gain revenue worth $93.38 billion by 2028, rising at a CAGR of 4.43% during the forecast years 2022-2028.

Developments in Aftermarket Services

Wait, did you say airless tires? Instead of air, tires are now integrated with a network of spokes that keeps the wheels rigid while giving them a see-through appearance. Each year, around 20% of tires are trashed due to puncture or uneven wear, stimulating manufacturers like Michelin to launch UPTIS airless automobile tire design that results in lower raw material and waste consumption. In this regard, the company has teamed up with GM to introduce UPTIS by 2024.

Besides, the tires’ ability to bear high weight and absorb shocks is anticipated to support the growth of the 16-18-inch rim size category. Numerous players have opted for this size since it offers additional grip, braking performance, and ride comfort, a major driving force for the tire aftermarket, tire replacement market.

The Green Initiative: With the average crude oil price rising from $39.68 in 2020 to $97.64 in 2022 and the rising carbon footprint, the demand for energy-efficient tires has boosted the tire replacement market. Besides, advances in tire energy efficiency can decrease global fuel consumption by around 5% in passenger vehicles, per the International Council on Clean Transportation. This has led low rolling resistance tires to gain immense traction among consumers to lower their total carbon footprint.

Considering this trend, in January 2023, Goodyear revealed a demonstration tire made of 90% sustainable materials, including carbon black and soybean oil. While it stated the need for further collaboration to bring 90% sustainable tires into the market, the company plans to sell them with 70% sustainable material in 2023. Our analysis indicates that the radial tire type captures the highest share in the market as it has lower rolling resistance, achieving greater fuel efficiency.

Labeling Culture: Labeling has emerged as a viable solution to differentiate products from packaging to tires. However, governments are striving to implement standards to eliminate redundant performance classes from the scale. For instance, the label design will be changed in the US with snow and ice grip symbols. The European Commission also introduced Euro 7 standards for particle emission from tires and brakes to ensure cleaner vehicular movement and air quality across the region.

Other than this, the Indian government mandated new standards in 2021 to enhance fuel efficiency and braking impact on wet roads. Earlier in 2022, Michelin became the first tire brand to receive a 4-star rating by the Bureau of Energy Efficiency, India, under the new star labeling program. Such steps by government bodies to promote sustainability are set to be a growth enabler for the Asia-Pacific tire aftermarket, tire replacement market.

Electric Vehicle: Revving Up the Ride

Over the course of a decade, electric vehicle sales soared to reach around 7 million units in 2021. Fueled by the falling costs of lithium-ion batteries, the rising EV sales have revolutionized the automotive industry and the tire sector. Furthermore, since the additional weight of batteries in EVs lead to enhanced stiffness, the demand for cutting-edge tires has accelerated. As a result, companies like Bridgestone have unveiled ENLITEN Technology that decreases tire rolling resistance by 30% and weight by 20% to expand EV driving range and reduce environmental impact. Therefore, the EV industry is attractive for expanding the tire aftermarket, tire replacement market.

FAQs:

Q1) What are the types of tires in the aftermarket, tire replacement market?

There are two major types of tires, namely, radial and bias, in the tire aftermarket, tire replacement market.

Q2) Which region will witness the fastest growth during the forecast period?

Asia-Pacific tire aftermarket, tire replacement is anticipated to witness the fastest growth, attaining a CAGR of 5.09% during the forecast period 2022-2028.

[blueweavelaltusinha]

Botswana Tire Market Size, Share, Forecast 2022-2029

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Botswana tire market size at USD 319.32 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Botswana tire market size to grow at a steady CAGR of 4.21% reaching a value of USD 422.62 million by 2029. The primary factors driving the growth of Botswana tire market include increasing sales of passenger, luxury, and electric vehicles (EVs) as a result of rapid urbanization and rising consumer purchasing power. Due to a greater emphasis on driver and passenger safety, as well as an increase in fatal traffic accidents, there is a growing demand for premium-grade Tires with a longer operational life, greater stability and reliability, and exceptional puncture resistance. Major players are introducing airless, light, and 3D-printed versions. Much effort is being put into recovering and recycling old Tires to reduce their environmental impact and save a significant amount of the energy required to manufacture new Tires. More transportation and logistical duties are required to deliver cargo on time.

Botswana Tire Market – Overview

A tire is a pressurized air-filled, ring-shaped, circular auto part that surrounds a wheel rim. It is made from a variety of materials, including wire, silica, carbon black, steel, rubber (natural or synthetic), and others. By reducing vibrations and improving shock absorption while shifting the car's weight from the axle to the ground, it stabilizes the vehicle. The effectiveness, mileage, passenger safety, and wear and tear of the car are all improved. Currently, depending on the type of vehicle, it is frequently available in a variety of sizes and models.

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Botswana Tire Market – By Demand

Based on demand, the Botswana tire market is divided into OEM and Replacement segments. The OEM segment currently holds a higher share of the market and is expected to continue to maintain its dominance during the forecast period. OEMs are significantly investing in R&D to develop tires that are light, ecologically friendly, and compliant with regulations. OEM tires are always of the best quality and are useful for many different things. Its design objectives of being quiet, sturdy, and practical on the road allow it to function flawlessly outside of the showroom. As a result, it is expected that the OEM market segment will dominate the industry in the coming years.

Competitive Landscape

Botswana tire market is fiercely competitive. Major competitors in the market include Bridgestone Corp., Continental Tires, Dayton Tires, Firestone Tires, BF Goodrich Tires, Cooper Tires, Dunlop Tires, Goodyear, Hankook, and Kumho Tires. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Botswana tire market.

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[blueweave8]

Bahrain Tire Market Share, Outlook, Report 2023-2029

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Bahrain tire market size at USD 886.4 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Bahrain tire market size to grow at a significant CAGR of 6.36% reaching a value of USD 1,352.8 million by 2029. Rising sales of passenger, luxury, and electric vehicles (EVs) as a result of rapid urbanization and rising consumer spending power are one of the key factors driving the demand for tires in Bahrain. The increasing emphasis on driver and passenger safety to reduce fatal traffic accidents is fueling the demand for premium quality tires with a longer operational life, improved stability and reliability, and high puncture resistance. Airless, lightweight, and three-dimensional (3D) printed variants are being introduced by major players. They are working hard to recover and recycle old tires to reduce their negative environmental impact and save a significant amount of energy required to manufacture new ones.

Qatar Tire Market – Overview

A tire surrounds the rim of the wheel to transfer the weight of a vehicle from the axle through the wheel to the ground and to provide traction on the surface the wheel travels over. Most tires, including those for automobiles and bicycles, are pneumatically inflated and also provide a flexible cushion to absorb shock as the tire travels over irregular surfaces. Applying a bearing pressure that will not cause the surface to deform excessively allows the contact patch, the footprint that tires provide, to be made to match the weight of the vehicle with the bearing capacity of the surface it rolls over.

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Opportunity: Construction industry expansion spurring demand for vehicles & tires

The government's increased focus on infrastructure improvements, which has led to quickly accelerating construction projects and rising sales of medium and heavy commercial vehicles, is the main factor boosting tire demand in Bahrain. The major players expect profitable growth opportunities to increase their import and distribution capacities to meet the nation's rising demand for tires in the upcoming years.

Challenge: Strict regulations on carbon emissions and fluctuating raw material prices

The primary factors that may restrict the extensive use of rubber in tire production and, consequently, the expansion of the tire market are mounting concerns over carbon emissions and onerous government regulations designed to cut them. Another significant factor that is likely to restrict the market's growth in the upcoming years is the fluctuating price of raw materials, which has an effect on the overall cost of producing tires and makes it challenging for tire manufacturers to set a fixed price.

Impact of COVID-19 on Bahrain Tire Market

The decelerating effects of the Covid-19 pandemic in Bahrain in 2020 had an impact on both the automotive and tire industries in diverse ways. Even though the government imposed strict movement restrictions and frequent lockdowns to stop the spread of this terrible disease, the top market players faced several first-time challenges, particularly regarding the production, importation, and distribution of tires throughout the country. Several significant issues hampered market growth, including project cancellations, supply chain disruptions that resulted in a lack of raw materials, and delays in the delivery of previously produced goods.

Bahrain Tire Market – By Tire Type

Bahrain tire market is segmented into Radial (Tube and Tubeless), and Bias tires. In terms of market share, the radial segment holds a sizable share of the Bahrain tire market. Tubeless tires, which are part of the radial segment, are typically found on motorcycles because of their low rolling resistance and slow rate of deflation. As tube tires consume more fuel than tubeless tires, the demand for tubeless tires is expected to rise throughout Bahrain.

Competitive Landscape

Bahrain tire market is fiercely competitive. Major companies in the market include Bridgestone, Michelin, Goodyear, Continental, Pirelli, Pirelli, Continental, Dunlop, Yokohama, BF Goodrich, Cooper Tire, and Firestone. The companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Bahrain tire market.

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[blueweave]

Botswana tire market size at USD 319.32 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Botswana tire market size to grow at a steady CAGR of 4.21% reaching a value of USD 422.62 million by 2029. The primary factors driving the growth of Botswana tire market include increasing sales of passenger, luxury, and electric vehicles (EVs) as a result of rapid urbanization and rising consumer purchasing power. Due to a greater emphasis on driver and passenger safety, as well as an increase in fatal traffic accidents, there is a growing demand for premium-grade Tires with a longer operational life, greater stability and reliability, and exceptional puncture resistance. Major players are introducing airless, light, and 3D-printed versions. Much effort is being put into recovering and recycling old Tires to reduce their environmental impact and save a significant amount of the energy required to manufacture new Tires. More transportation and logistical duties are required to deliver cargo on time.

✴ For more info please visit: http://bit.ly/3ItN9RX

[tritonmarketresearch]

Tire Aftermarket, Tire Replacement Market: A Competing Shift

Tire AftermarketA flat tire is among the several inconveniences vehicle owners aim to avoid. Whether due to valve system damage or blowout due to over-inflation, the absence of a proper tire can severely damage the wheel and trigger tire replacement. This drawback has instigated several tire producers to invest in R&D to develop high-performance, fuel-efficient tires, opening avenues for the global tire aftermarket, tire replacement market.

Additionally, integrating systems like anti-lock braking systems, electronic power control, and tire pressure monitoring systems has upheaved the demand for tire aftermarket services. Our estimates have gathered that the global market is set to gain revenue worth $93.38 billion by 2028, rising at a CAGR of 4.43% during the forecast years 2022-2028.

Developments in Aftermarket Services

Wait, did you say airless tires? Instead of air, tires are now integrated with a network of spokes that keeps the wheels rigid while giving them a see-through appearance. Each year, around 20% of tires are trashed due to puncture or uneven wear, stimulating manufacturers like Michelin to launch UPTIS airless automobile tire design that results in lower raw material and waste consumption. In this regard, the company has teamed up with GM to introduce UPTIS by 2024.

Besides, the tires’ ability to bear high weight and absorb shocks is anticipated to support the growth of the 16-18-inch rim size category. Numerous players have opted for this size since it offers additional grip, braking performance, and ride comfort, a major driving force for the tire aftermarket, tire replacement market.

The Green Initiative: With the average crude oil price rising from $39.68 in 2020 to $97.64 in 2022 and the rising carbon footprint, the demand for energy-efficient tires has boosted the tire replacement market. Besides, advances in tire energy efficiency can decrease global fuel consumption by around 5% in passenger vehicles, per the International Council on Clean Transportation. This has led low rolling resistance tires to gain immense traction among consumers to lower their total carbon footprint.

Considering this trend, in January 2023, Goodyear revealed a demonstration tire made of 90% sustainable materials, including carbon black and soybean oil. While it stated the need for further collaboration to bring 90% sustainable tires into the market, the company plans to sell them with 70% sustainable material in 2023. Our analysis indicates that the radial tire type captures the highest share in the market as it has lower rolling resistance, achieving greater fuel efficiency.

Labeling Culture: Labeling has emerged as a viable solution to differentiate products from packaging to tires. However, governments are striving to implement standards to eliminate redundant performance classes from the scale. For instance, the label design will be changed in the US with snow and ice grip symbols. The European Commission also introduced Euro 7 standards for particle emission from tires and brakes to ensure cleaner vehicular movement and air quality across the region.

Other than this, the Indian government mandated new standards in 2021 to enhance fuel efficiency and braking impact on wet roads. Earlier in 2022, Michelin became the first tire brand to receive a 4-star rating by the Bureau of Energy Efficiency, India, under the new star labeling program. Such steps by government bodies to promote sustainability are set to be a growth enabler for the Asia-Pacific tire aftermarket, tire replacement market.

Electric Vehicle: Revving Up the Ride

Over the course of a decade, electric vehicle sales soared to reach around 7 million units in 2021. Fueled by the falling costs of lithium-ion batteries, the rising EV sales have revolutionized the automotive industry and the tire sector. Furthermore, since the additional weight of batteries in EVs lead to enhanced stiffness, the demand for cutting-edge tires has accelerated. As a result, companies like Bridgestone have unveiled ENLITEN Technology that decreases tire rolling resistance by 30% and weight by 20% to expand EV driving range and reduce environmental impact. Therefore, the EV industry is attractive for expanding the tire aftermarket, tire replacement market.

[stratviewresearch]

Airless Tires Market is expected to expand recording stable CAGR over the forecast year 2028

The report on the Airless Tires Market published by Stratview Research covers in depth details associated with the Airless Tires Market.

To get a free sample report, Click here:

The Airless Tires Market is likely to witness a CAGR of 8.8% during the forecast period. The prime factors that are driving the Airless Tires Market is its superior thermal conductivity property leading to its wide usage in a wide array of industries.

Key Players

The following are the key players in the Airless Tires Market:

• Amerityre Corporation

• Bridgestone Corporation

• Cooper Tire & Rubber Company

• Harris Tires

• Michelin

• Resilient technologies

• Sumitomo Rubber Industries, Ltd.

• The Goodyear Tire & Rubber Company

• The Hankook Tire & Technology group

• Toyo Tires.

Growth drivers and Market Value:

This report, from Stratview Research, studies the Airless Tires Market value and growth drivers over the trend period of 2022-27. According to the report -

Airless Tires Market is likely to witness an impressive CAGR of 6.0% during the forecast period. Increasing demand for all terrain and military vehicles, ongoing enhancements in technologies to reduce vibration and noise generated by tires, presence of technology providers in the market, and growing automotive industry are some of the major factors fueling the market growth during the forecast period.

Segment Analysis:

Based on by Vehicle Type:

Based on the vehicle type, the market is segmented as military vehicles, LCV, HCV, terrain vehicles, utility vehicles, and motorcycles. HCV is projected to register strong growth rate in the market owing to ongoing initiatives by the industry players to introduce non-pneumatic tires for the vehicles as these tires provide excellent durability and lesser wear & tear as compared to conventional tires. Growing adoption of airless tires in HCV and increasing construction and infrastructure globally require tires which are capable of carrying more weight and can be worked for rugged activities, fueling the market growth over the forecast period.

Based on Regional:

In terms of regions, North America is projected to be the leading region in the market owing to growing implementation of airless tires in military applications and utility terrain vehicles, and constant focus on offering products for military and defense purpose by the industry players during the forecast period. On the other hand, Asia-Pacific is estimated to witness significant growth which can be attributed to the presence of manufacturers, easy availability of raw materials, and high vehicle ownership in the region during the forecast period.

Critical Questions Answered in the Report

What are the key trends in the Airless Tires Market?

How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?

What is the impact of COVID-19 on Airless Tires Market?

What are the key strategies adopted by the major vendors to lead in the Airless Tires Market?

What is the market share of the top vendors?

Order a Copy of Airless Tires Market report here

About Us

Stratview Research is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful and actionable market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more. Stratview Research helps its user’s tract the ever-evolving market scenarios through its top-notch market reports.

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