Airless Tires Market (By Type: Bias, Radial; By Application: Two-wheelers, Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Cars) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027
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Acumen Research and Consulting estimates that global Airless Tires market is expected to reach the market value of around US$ 400 Mn by 2027 and is anticipated to grow at a CAGR of around 5% in terms of revenue during the forecast period 2020 – 2027.
Tires that do not support air pressure or non-pneumatic are known as airless tires. In constructing vehicles used in large commercial vehicles, airless tires are used where the possibility of punchers is high and when it comes to small vehicles.
The report provides analysis of global Airless Tires market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
Market Insights
Global airless tires market is expected to experience significant growth over the forecast period owing to improved understanding of driving safety by avoiding road injuries caused by tire punchings. Tires in the next generation are used as tires that reduce the air pressure element of the tires. Therefore, industry players and suppliers build environmentally sustainable tires from recycled materials so airless tires last longer than conventional tires. Various features of airless tires are projected to boost market demand for the future, such as greater durability, punch proof, greater use of rough business and many more. In the market, players and suppliers are driven over the counterparts by growing demand for extremely durable and resilient tires and innovative shock absorption capacities. In fact, there is a planned improvement in the availability of modified airless pipes with heavy-duty vehicles to improve trip safety.
Regional Stance
Asia Pacific region is anticipated to dominate the market led by China. Rising military and commercial vehicle production in the country is expected to improve Asia Pacific airless tire industry sales during the forecast period. In addition, main manufacturing firms in the region are projected to support business growth in the Asia Pacific target market. The largest share of the world airless tire industry is occupied by Asia Pacific, followed by North America, Europe, Latin America and Middle East & Africa respectively. The airless tire market in Europe is expected to continue to grow in near future. Increased competition for usage of different destinations in the area would lead to a increase in the target market turnover during the forecast period.
Report coverage
The market research study on “Airless Tires Market (Airless Tires Market By Type: Bias, Radial; Airless Tires Market By Application: Two-wheelers, Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Cars) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Airless Tires market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Airless Tires market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Airless Tires market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Airless Tires market is segmented as below:
Market Segmentation
Airless Tires Market By Type
Bias
Radial
Airless Tires Market By Application
Two-wheelers
Heavy Commercial Vehicles
Light Commercial Vehicles
Passenger Cars
Airless Tires Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of MEA
Key Players and Market Situation
Participants include major global players such Hankook Tire, MICHELIN, Goodyear Tire, and Sumitomo Rubber Industries, Others.
Top players offer solid tires in their portfolios for the applications mentioned above that include Michelin, Trelleborg AB, Bridgestone, etc. In addition to increasing product management at airports, ports and factories, the ever growing construction and transportation sectors worldwide are projected to show increases in machinery sales. The demand for solid tires will in turn be driven during the forecast.
The demand for airless tires should not be divided or regulated. Big players such as Michelin and Bridgestone have now a handful of the Tires. They are also developing additional models, in particular for passenger vehicles. Companies already have partnerships in this industry with car suppliers and are likely to further intensify competition. In this sector, small and medium players have an influence in the aftermarket segment that can contribute to a fragmented situation.