In addition, the worldwide Airless Tires Market Size has been expected to increase at a CAGR of 9%, with a value of USD 0.1 Billion over the estimated projected time of 2023-2032.
The
commercial vehicle market is expected to see huge profits in the forecasting
period and, as a result, the on-growing efforts of the players to introduce
airless or non-pneumatic tires for commercial vehicles. However, the rising
demand for tires to sustain through the tough road conditions in heavy-duty
vehicles will definitely support the market growth.
Airless
tires are generally used in the automobile industry; however, they have a
strong load-bearing capacity, driving performance quality, and environmental
compatibility. On the other hand, the manufacturer is using such types of tires
to eliminate the need for spare tires and the high productivity in the
applications that involve the manufacturing, farming, construction, and mining
sectors.
During
the estimated forecasting years, the growing attention towards the agricultural
sector is expected to be the key driver of the market due to the increasing
demand for agricultural machinery. The need for improving road safety has led
to the high-tech industry development of airless tires to prevent road
accidents caused by punctured tires. The increasing necessity for robust and
flexible tires to provide tremendous shock-absorbing properties is driving the
global market demand for airless tires. Due to the global pandemic outbreak,
the global market has completely crashed. The entire Airless Tires Market has faced a huge loss due to implementing the
strict lockdown procedure. The airless tire market also faces such types of
problems during lockdown time.
Airless Tires Market Segmentation:
According
to the latest market report, the global Airless
Tires Market has been segmented into five sections: type, material, tire
size, vehicle type, sales channel, and regional basis. Based on the type
section, the market has been classified into two types: radial and bias.
According to the tire size, the market has been classified into five types less
than 20 inches, 21-25 inches, 26-30 inches, 31-35 inches and greater than 35
inches. Based on the material, the Airless
Tires Market Share has been segmented
into two categories like rubber and plastic. According to the vehicle type, the
global market has been classified into four sections two-wheelers, passengers
car, light or heavy industrial & commercial vehicles and trucks & buses.
The market has been divided into two sections: the sales channel, OEM &
aftermarket. Based on the regional sector, the global market has been
classified into five sections such as Asia-Pacific, Europe, North America,
South America and Middle East & Africa.
Airless Tires Market Regional Analysis:
The
share of the off-road segment among the different vehicle tires is expected to
be the highest in 2022. It is also expected to be the largest segment in 2027;
however, it also increased with the total share value of the global market. In
the automobile manufacturing and heavy industrial sectors, tires have become an
integral part of all types of vehicles. However, the tires control the
vehicle's motion, and there have been many accidents across the world just
because of the tires. In the United States, more than 700 accidents are caused
every year due to tire-related problems.
Airless Tires Industrial News:
Frameworks
like CAFÉ and standards set by EPA and NHTSA worldwide are demanding increased
mileage figures to reduce the emissions from the vehicles. According to the
latest framework introduced in the United States in 2012, the automakers'
average fuel economy has reached 35.6 in the upcoming years.
Airless
Tires Market Key Players
·
Bridgestone Corporation (Japan)
·
Hankook Tire (South Korea)
·
The Goodyear Tire and Rubber Company (U.S.)
·
Pirelli (U.S.)
·
Sunitomo Rubber Industries (Japan)
·
Amerityre Corporation (U.S.)
·
Michelin (France)
·
Toyo Tire and Rubber Co. Ltd. (Japan)
·
Cooper Tire (U.S.)
·
Tannus Ltd. (Korea)
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