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Airless Tire Market to Garner $77.5 Million by 2030: Allied Market Research

·6-min read

[333 Pages Report] Increase in demand for maintenance-free tires and surge in adoption of all-terrain and military vehicles drive the growth of the global airless tire market. Asia-Pacific contributed to the largest share in 2020, and is expected to maintain its leadership status in terms of revenue by 2030. The disruptions in operations in the automotive industry reduced the demand for airless tires during the Covid-19 pandemic. However, the demand increased gradually post-lockdown.

Portland, OR, Dec. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global airless tire market generated $46.1 million in 2020, and is estimated to reach $77.5 million by 2030, witnessing a CAGR of 5.6% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Download Report (333 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/2437

Airless Tires Market Report Coverage & Details:

Report Coverage

Details

Forecast Period

2021­–2030

Base Year

2020

Market Size in 2020

$46.1 million

Market Size in 2030

$77.5 million

CAGR

5.6%

No. of Pages in Report

333

Segments covered

Material, Vehicle Type, Sales Channel, Rim Size, Region.

Drivers

Rise in demand for maintenance-free tires

Increase in demand for all-terrain and military vehicles

Opportunities

Rise in adoption of electric vehicles across the world in the coming years

Higher recyclability of plastics

Restrains

Low performance during friction and high-speed scenarios

High capital investment for setting up new manufacturing facilities

Covid-19 Scenario:

  • There were major challenges such as manufacturing with full capacity, working capital management, regulatory and policy changes, supply chain execution, lack of labor, and liquidity and solvency management during the pandemic for manufacturers of airless tires.

  • The investments in R&D activities were reduced and the pace of development of new technologies for solid or plastic tires slowed down.

  • The disruptions in operations in the automotive industry reduced the demand for airless tires during the lockdown. However, the demand increased gradually post-lockdown.

The report offers detailed segmentation of the global airless tire market based on material, vehicle type, sales channel, rim size, region.

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Based on material, the plastic segment held the highest share in 2020, accounting for nearly two-thirds of the total share, and is expected to maintain its leadership status during the forecast period. However, the rubber segment is estimated to manifest the highest CAGR of 6.8% from 2021 to 2030.

Based on vehicle type, the utility vehicles segment accounted for the highest share in 2020, contributing to around two-fifths of the total share of the global airless tire market, and is projected to maintain its dominant share during the forecast period. However, the passenger and commercial vehicles segment is expected to register the largest CAGR of 6.3% from 2021 to 2030.

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Based on region, Asia-Pacific contributed to the largest share in 2020, accounting for around one-third of the total share, and is expected to maintain its leadership status in terms of revenue by 2030. Moreover, this region is estimated to portray the fastest CAGR of 6.2% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

Leading market players:

  • Ameritire Corporation

  • Bridgestone Corporation

  • Continental AG

  • Hankook Tire & Technology Co., Ltd.

  • Michelin

  • Sumitomo Rubber Industries, Ltd.

  • The Goodyear Tire & Rubber Company

  • Toyo Tire Corporation

  • The Yokohama Rubber Co., Ltd.

  • Trelleborg

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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