Global Airless Tires Market – Industry Trends and Forecast to 2029

Market Analysis and Size

In the coming years, the airless tires will revolutionize the tire technology sector around the world. With the emergence of this technology, issues such as nails and sidewall cuts that usually render a tire unrepairable. The need to check tire inflation along with spare tires, jacks and inflation kits would be gone with the deployment of airless tires. Michelin and General Motors are all set to bring airless tire technology to the market in 2024.

Global Airless Tires Market was valued at USD 48.77 million in 2021 and is expected to reach USD 76.57 billion by 2029, registering a CAGR of 5.80% during the forecast period of 2022-2029. Light/Heavy Industrial/Commercial segment is expected to witness high growth in the vehicle type segments owing to the ongoing initiatives by industry players to introduce non-pneumatic tires. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Airless tires, also known as non- pneumatic tires or flat-free tires, refer to the type of tires that are not supported by air pressure. These tires are widely utilized on numerous vehicles, including two-wheeler, passenger cars, and heavy equipment such as backhoes, among others.

Report Scope and Market Segmentation

Airless Tires Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increased Vehicle Production

The increase in the demand for high performance and reliability of automobiles among consumers acts as one of the major factor driving the growth of airless tires market. The rise in demand for low-maintenance, and long-lasting vehicle tires escalate vehicle production.

• Rise in Demand for Airless Tires

The rise in number of demand for airless tires owing to the numerous features offered by these tires such as puncture-proof, higher durability, and higher usage in strenuousactivities, among others accelerate the market growth. These tires are known to prevent blowouts, flat tires and others while ensuring passenger safety.

• Government Initiatives

The increase in initiatives taken by governments and other regulatory organizations on developing and proposing regulations and programs for labeling tires further influence the market. The labelling of tires ensures enhancement in vehicle efficiency, and reduction in adverse effects of conventional tires on the environment.

Additionally, expansion of the automotive sector, surge in investments and increased disposable income positively affect the airless tires market.

Opportunities

Furthermore, increase in demand for eco-friendly tires through recycled materials extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, high demand for airless tires in fleets will further escalate the growth of clutch market.

Restraints/Challenges faced by the Airless Tires Market

On the other hand, surge in raw material prices and less reliable options are expected to obstruct market growth. Also, low awareness and limited adoption are projected to challenge the airless tires market in the forecast period of 2022-2029.

This airless tires market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the airless tires market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.

COVID-19 had a Major Impact on Airless Tires Market

The COVID-19 had a negative impact on the airless tires market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for automotive parts and components. The supply chain got hampered during the pandemic along with delay logistics activities. However, the airless tires market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions and increase in the number of heavy commercial vehicles.

Recent Developments

• Bridgestone launched the concept version of an air-free commercial truck tire in February’2020, during the annual meeting of the American Trucking Associations’ Technology and Maintenance (TMC) council held in Atlanta.
• Michelin agreed to partner with General Motors in June’2019 for the development and validation of tire supplier's Unique Puncture-proof Tire System, or Uptis. The companies plan to introduce the tires on passenger vehicles as early as 2024.

Global Airless Tires Market Scope

The airless tires market is segmented on the basis of type, material, vehicle type, rim size and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Radial Tires
• Bias Tires

Material

• Rubber
• Plastic

Vehicle Type

• Two-Wheeler
• Passenger Cars
• Light/Heavy Industrial/Commercial
• Trucks and Buses

Rim Size

• Less than 15 Inches
• 15 to 20 Inches
• More than 20 Inches

Sales Channel

• OE
• Aftermarket

Airless Tires Market Regional Analysis/Insights

The airless tires market is analyzed and market size insights and trends are provided by country, type, rim size, sales channel and vehicle type.

The countries covered in the airless tires market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the airless tires market because of the implementation of these tires in military applications and utility terrain vehicles within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the presence of various manufacturers including Bridgestone, Hankook and Sumitomo Rubber Industries, among others in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Airless Tires Market Share Analysis

The airless tires market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to airless tires market.

Some of the major players operating in the airless tires market are

• Amerityre (US)
• The Yokohama Rubber Co., Ltd. (Japan)
• Trelleborg AB (Sweden)
• Continental AG (Germany)
• Bridgestone Corporation (Japan)
• Michelin (France)
• The Goodyear Tyre & Rubber Company (US)
• Sumitomo Corporation (Japan)
• Hankook Tire & Technology Co.,Ltd. (South Korea)
• Toyo Tire Corporation (Japan)

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