Market Research Future (MRFR), in its latest report on the global Airless tires market 2020, reveals different aspects of the market and potential forces that can impact the market dynamics. The influence of COVID 19 outbreak on the market is also revealed in the report. As per MRFR data, the Airless tires market can register 9% CAGR across the review period.
Airless tires eradicate the need of air pressure in the tires and provide higher durability over conventional tires. The need for improved road safety has led to the development of airless tires in order to prevent the road accidents ratio caused by punctured tires. Increasing necessity of tires that are robust and highly flexible to provide tremendous shock absorbing properties is driving the market demand for airless tires. In addition, OEMs and industry participants are developing eco-friendly tires with the recycled products such as used rubber tires and plastics, delivering a highly durable and puncture a proof tire which is anticipated to drive the demand for airless tires.
Key Players
The prominent market players in the global airless market include Bridgestone Corporation (Japan), Hankook Tire (South Kores), The Goodyear Tire & Rubber Company (US), Pirelli (US), Sunitomo Rubber Industries (Japan), Amerityre Corporation (US), Michelin (France), Toyo Tire & Rubber Co. Ltd. (Japan), Cooper Tire (US), Tannus Ltd. (Korea).
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Scope of the Report
This study provides an overview of the global airless tires market, tracking three market segments across four geographic regions. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global airless tire market by product, vehicle type, material, tire size, sales channel and regions.
By Product
- Radial Tires
- Bias Tires
By Vehicle Type
- Military Vehicles
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- Terrain Vehicles
- Utility Vehicles
- Two-wheelers
By Material
- Rubber
- Plastic
By Tire size
- < 20 inches
- 21-25 inches
- 26-30 inches
- 31-35 inches
- >35 inches
By Sales Channel
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Regions
- North America
- Asia Pacific
- Europe
- The Rest of the World
Moreover, rising road accident safety concerns due to tire blowout is anticipated to drive the market demand during the forecast period. Stringent regulations directed by European Commission for driver’s convenience and safety along with introduction of advanced chip embedded tires are anticipated to augment the market demand in future. Growing number of automotive industries in the countries like China, South Korea, and Japan is predicted to expand the market share of Asia-Pacific over the forecast period.
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TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Airless Tires Market, By Segments
- Competitive Analysis
Continued…
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