Report Id: SNS/AUTO/2159 | July 2022 | Region: Global | 129 Pages
Report Scope & Overview:
Airless Tires Market Size was valued at USD 36.79 million in 2022 and is expected to reach USD 56.89 million by 2030 and grow at a CAGR of 5.6% over the forecast period 2023-2030.
The automotive tire is an essential component of every vehicle since it protects and comforts the driver and passengers. The primary purpose of the tire is to act as a barrier between the wheel rim and the road surface, so preventing any damage to the wheel. Because the support provided by an airless tire does not depend on air pressure, this type of tire is also known as a non-pneumatic tire (NPT) or a flat-free tire. Because this type of tire does not require air pressure, there is no longer a need to periodically add air to the tires. Because it is made of rubber, it functions as a cushion that is both flexible and resilient, mitigating the effect of vibrations and absorbing the shock that the automobile causes. Solid or non-pneumatic tires, which do not rely on air pressure, are alternate names for airless tires. They are typically made of plastic or rubber, although 3D printing is also being used in their production.
In 2021, The Smart Tire Concept was revealed by Sumitomo Rubber Industries, Ltd. (Sumitomo Rubber). Despite the fact that the economic climate in which the automotive industry operates is undergoing massive shifts as a result of environmental concerns as well as the development of artificial intelligence and the Internet of Things, this new technology development concept has as its goal the production of tires that offer even greater levels of safety and environmental performance.
A significant increase in the demand for tires that require no maintenance.
As all-terrain and military vehicle demand grows, the market for airless tires is likely to expand.
The market for two-wheeler tires with plastic spokes will rise if more recycled plastic.
Demand for fuel-efficient tires is rising.
Low performance both when there is friction and when there is high speed.
High capital investment for new manufacturing facilities will limit market expansion.
The market's expansion is expected to be hampered by high manufacturing costs.
Plastics' greater capacity to be recycled.
Electric car usage is expected to boost the airless tire industry in the future years.
The use of advanced materials in new technologies is expected to open up a lot of market opportunities.
Over the next few years, volatile raw material prices could pose a threat to the market.
The impact on the supply chain can make the market vulnerable to disruption.
IMPACT OF COVID-19:
The rapid spread of the COVID-19 pandemic has had a detrimental influence on the Airless tire sector. This is because the pandemic has caused travel restrictions, and it is expected that key players will have a terrible financial performance throughout the year 2020. The execution of the supply chain, the dependency on labor, the changes in regulations and policy, the management of working capital, and the management of liquidity and solvency are all important challenges for tire producers. As a consequence of the COVID-19 outbreak, there have been reports of significant industrial disruptions, and the processes involved in the production of tires have been halted across the globe. This has an impact not only on the financial sources for research and development but also on the acceptance of cutting-edge technologies such as plastic and solid tires. On top of that, the production and distribution of automobiles are inextricably intertwined with the business of selling airless tires. As a consequence of this, alterations in the production and sales operations of the automotive industry are anticipated to have an immediate influence on the overall demand in the market for airless tires.
KEY MARKET PLAYERS:
Bridgestone Corporation (Japan), Pirelli (U.S.), Sumitomo Rubber Industries (Japan), Hankook Tire (South Korea), The Goodyear Tire and Rubber Company (U.S.), Amerityre Corporation (U.S.), Toyo Tire and Rubber Co. Ltd. (Japan), Michelin (France), Cooper Tire (U.S.), Tannus Ltd. (Korea) are some of the affluent competitors with significant market share in the Airless Tires Market.
Market, By Rim Size:
The global market has been divided into Less than 15 Inches, 15 to 20 Inches, and More than 20 Inches based on the rim size segment. Tires with a diameter of 20 inches or less are in high demand. Changing from more than 20-inches wheel diameter necessitates the purchase of new tires. When driving over bumps and potholes, these tires require a lower profile to keep the suspension from fully compressing and rebounding.
Market, By Material:
The global market has been divided into rubber, and plastic Based on the material segment. Rubber is a low-cost, high-load bearing material. High stiffness is required in rubber components for airless tires, such as vulcanized rubber compounds utilized in the tire's inner casing such as the bead apex. Plastic is often used to make airless tires because it can be reused and recycled.
Market, By Vehicle Type:
The global market has been divided into Military Vehicles, Passenger & Commercial Vehicles, All-terrain Vehicles, Utility Vehicles, and Two-wheelers based on the vehicle type segment. Airless tires are more durable than pneumatic ones. Two-wheeler airless tires are created from extruded foams. Population growth, strong purchasing power, and favorable legislation enhance demand for passenger vehicles. Minivans, pickups, and buses are LCVs.
By Rim Size:
Less than 15 Inches
15 to 20 Inches
More than 20 Inches
By Vehicle Type:
Passenger & Commercial Vehicles
The airless tires market was separated into four regions: North America; Europe; Asia-Pacific; and everywhere else on Earth. As the automotive sector in nations like China, India, and Japan expands at a rapid pace, the Asia-Pacific region has one of the world's largest aftermarkets. The expanding building activity, industrial expansion, and need for fuel-efficient technology all contribute to the region's increased interest in airless tires. In countries like Japan, China, and South Korea, there are plenty of raw material suppliers and low labor prices in the Asia-Pacific region. Airless tires are projected to be in high demand in the agricultural sector in these countries as well, given the importance of agriculture in these countries. China is the world's largest automotive market. There are numerous opportunities for tire producers to invest in the industry through joint ventures with local car manufacturers. The North American airless tire industry is predicted to develop in response to the increasing use of airless tires in construction and industrial equipment trucks.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 36.79 Million|
|Market Size by 2030||US$ 56.89 Million|
|CAGR||CAGR of 5.6% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Rim Size (Less than 15 Inches, 15 to 20 Inches, more than 20 Inches)
• by Material (Rubber, Plastic)
• by Vehicle Type (Military Vehicles, Passenger & Commercial Vehicles, All-terrain Vehicles, Utility Vehicles, Two-wheelers)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Bridgestone Corporation (Japan), Pirelli (U.S.), Sumitomo Rubber Industries (Japan), Hankook Tire (South Korea), The Goodyear Tire and Rubber Company (U.S.), Amerityre Corporation (U.S.), Toyo Tire and Rubber Co. Ltd. (Japan), Michelin (France), Cooper Tire (U.S.), Tannus Ltd. (Korea)|
|Key Drivers||•A significant increase in the demand for tires that require no maintenance.
•As all-terrain and military vehicle demand grows, the market for airless tires is likely to expand.
|RESTRAINTS||•Low performance both when there is friction and when there is high speed.
•High capital investment for new manufacturing facilities will limit market expansion.
Frequently Asked Questions (FAQ) :
Ans:- The market size is expected to reach USD 51.02 million by 2028.
Ans:- Asia pacific region is anticipated to be the primary driver of the market.
Ans:- Demand for fuel-efficient tires is rising and two-wheeler tires with plastic spokes will rise are the primary market drivers for Airless Tires Market.
Ans:- The study includes a comprehensive analysis of market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter’s five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Airless Tires Market Segmentation, By Rim Size
8.1 Less than 15 Inches
8.2 15 to 20 Inches
8.3 More than 20 Inches
9. Global Airless Tires Market Segmentation, By Material
10. Global Airless Tires Market Segmentation, By Vehicle Type
10.1 Military Vehicles
10.2 Passenger & Commercial Vehicles
10.3 All-terrain Vehicles
10.4 Utility Vehicles
11. Regional Analysis
11.2 North America
11.2.1 the USA
11.3.2 the UK
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 The Goodyear Tire and Rubber Company (U.S.),
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Bridgestone Corporation (Japan)
12.3 Pirelli (U.S.)
12.4 Sumitomo Rubber Industries (Japan)
12.5 Hankook Tire (South Korea)
12.6 Amerityre Corporation (U.S.)
12.7 Toyo Tire and Rubber Co. Ltd. (Japan)
12.8 Michelin (France)
12.9 Cooper Tire (U.S.)
12.10 Tannus Ltd. (Korea)
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
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