Airless Tire Market Trends 2024- Industry Share, Revenue, Growth Drivers, Key Players, Business Challenges and Future Investment Opportunities till 2033: SPER Market Research

Airless, or non-pneumatic, tyres are those that don’t rely on air pressure to provide support and function (NPT). Unlike ordinary tyres, which are inflated with pressured air to provide cushioning and load-bearing capabilities, airless tyres are constructed with a solid or cellular structure and do not require inflation.

Although there are many different types of airless tyres, their basic objective is to perform as well as or better than pneumatic tyres while eliminating common issues like blowouts, punctures, and the need for constant maintenance that come with air-filled tyres.

SPER Market Research’s report on ‘Airless Tire Market Size- By Type, By Material, By Vehicle Type, By Rim Size, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ forecasts the Automotive Airless Tire Market to reach USD 2.25 billion by 2033, with a CAGR of 4.76%. Sharp objects on the road frequently puncture conventional pneumatic tires, leading to tire bursts and compromising safety.

Furthermore, frequent upkeep of pneumatic tyres is necessary, including air pressure repair and maintenance. Which is time-consuming and difficult for users. By removing the possibility of collisions and the requirement for routine maintenance, airless tyres provide a solution to these issues. “These tires, constructed from solid or honeycomb materials, withstand dents and blowouts for dependable, continuous performance.”

These capabilities are especially helpful in fields or applications like off-road vehicles, construction equipment, and military vehicles where tyre punctures might have dangerous repercussions. The market for airless tyres has several obstacles, one of which is raising customer awareness and acceptability.

Since airless tyres are a relatively new technology and operate very differently from conventional pneumatic tyres. It could be challenging to win over consumers’ trust and educate them about the advantages. To entice drivers to abandon well-known conventional tyre designs, manufacturers will need to provide a convincing demonstration of the benefits in terms of safety and performance.

Impact of COVID-19 on Global Airless Tire Market

The worldwide auto industry was severely impacted by the COVID-19 outbreak. A partial business closure, low consumer confidence, and an unpredictable economy all negatively impacted the market for vehicle parts and components. The supply chain had challenges during the pandemic, causing delays in logistics activities. “In the post-pandemic scenario, as restrictions relax and the number of large commercial vehicles increases. There is an expected surge in demand for airless tyres.”

Airless Tire Market Key Players

Asia-Pacific took the lead and accounted for the greatest share of the market. The region’s booming automotive industry, increasing urbanization, and growing emphasis on eco-friendly and efficient transportation options have all contributed to the need for airless tyres. “The region’s dominance also stems from major industry players, ongoing technological advancements, and supportive government initiatives fostering innovation in the automobile industry.”

Some of the major companies in this industry include Michelin, The Goodyear Tyre & Rubber Company, Toyo Tyre Corporation, Hankook Tyre & Technology Co., Ltd., Ameritire Corporation, Bridgestone Corporation, Continental AG, The Yokohama Rubber Co., Ltd., Michelin, and Sumitomo Rubber Industries, Ltd.

Airless Tire Market Segmentation

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.

1. By Type

Based on the Type, Global Airless Tire Market is segmented as; Radial Tires, Bias Tires.

2. By Material

Based on the Material, Global Airless Tire Market is segmented as; Rubber, Plastic.

3. By Vehicle Type

The Global Airless Tire Market segments based on Vehicle Type include: Military Vehicles, Passenger & Commercial Vehicles, All-terrain Vehicles, Utility Vehicles, and Two-wheelers.

4. By Rim Size

The Global Airless Tire Market segments by Rim Size into categories: Less than 15 Inches, 15 to 20 Inches, and More than 20 Inches.

5. By Sales Channel

Based on the Sales Channel, Global Airless Tire Market is segmented as; OE, Aftermarket.

6. By Region

This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

Contact

Sara Lopes, Business Consultant – U.S.A.

SPER Market Research

+1-347-460-2899