Global Airless Tire Market Insights Report Overview
According to the latest market study by MarkNtel Advisors titled “Global Airless Tire Market: Industry Size, Share, Trends, Growth, Opportunity Analysis 2022-2027” presents a thorough examination of market drivers, opportunities and challenges.
Utilizing a quantitative approach, it offers precise insights into market size, share, and growth. Crafted by industry experts, the report delves into consumption patterns, geographical analysis, and competitive landscapes. Its objective is to furnish valuable insights for clients seeking to comprehend and leverage market dynamics. With a dual focus on historical achievements and future projections, it furnishes a nuanced understanding of the market terrain.
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Airless Tire Market Overview:
The Global Airless Tire (CBD) Market size was valued at around USD 22.7 billion in 2023 and is projected to grow at a CAGR of around 7% during the forecast period, i.e., 2022-27.
Key Driver: Steadily Growing Demand for Maintenance-free Tires
Airless tires don’t go flat is the prime aspect that has infused their demand worldwide and positively impacted the growth of the Global Airless Tires Market. Air loss failures caused by punctures or road hazards, along with the need for a spare tire for either changing or repairing, have equally contributed to the demand for airless tires. Additionally, the composition of flexible plastics in these tires has significantly improved their overall strength to absorb road bumps. It is another crucial aspect that has surged the demand for maintenance-free tires in recent years, which, in turn, would significantly contribute to the growth of the Global Airless Tires Market during 2022-27.
Competitor Insight: Airless Tire Market
This report focuses on major market participants like:
- Compagnie Générale des Établissements Michelin SCA)
- Bridgestone Corporation
- Goodyear Tire & Rubber Corporation
- Continental AG
- Amerityre Corporation
- Hankook Tire & Technology Co., Ltd.
- Sumitomo Rubber Industries, Ltd.
- Toyo Tire Corporation
- The Yokohama Rubber Co., Ltd.
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Segmentation Summary: Airless Tire Market
This segmentation analysis outlines prominent sections in the report’s table of contents. Each segment undergoes thorough analysis, including sub-segments, to showcase both current and historical market sizes. The analysis underscores investment opportunities for rapid growth, particularly in the Airless Tire Market, with notable highlighting on:
-By Demand Type
- OEM
- Replacement
Of both, OEMs (Original Equipment Manufacturers) captured a significant share of the Global Airless Tires Market. Initially, the demand for airless tires has been more from OEMs since, in 2021, the commercialization of these tires was at its nascent stage. Tire manufacturers are constantly working on technological advancements to manufacture tires based on evolving vehicle aerodynamics. The end-user applications of these tires are limited majorly to commercial, off-road, & military vehicles.
In addition, the low maintenance & high life span of these tires significantly increase the tire replacement period for end users. Eventually, vehicle manufacturers would remain the primary buyers of these tires. However, the market share of OEMs would undergo a gradual dilution in the forthcoming years with the introduction of airless tires for passenger cars & light commercial vehicles.
-By Vehicle Type
- Two-Wheelers
- Passenger Cars
- Commercial Vehicles
- Off Road Vehicles
- Military Vehicles
-By Material
- Rubber
- Plastic
-By Tire Type
- Radial
- Bias
-By Rim Size
- Up to 12”
- 1” to 15”
- 1” to 18”
- 1” to 22”
- Above 22”
Airless Tire Market Geographical Reach:
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
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Key Questions Addressed:
- Factors Driving Market Growth: Understand the primary drivers propelling the Airless Tire market forward.
- Access to Reliable Reports: Learn where to access dependable market reports for informed decision-making.
- Growth Projections: Gain insights into anticipated growth projections for the coming years.
- Geographical Hotspots: Identify geographical poised for significant market growth soon.
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