Press release
Global Airless Tyres Market to be driven at a CAGR of 5% in the Forecast Period of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
Forecast CAGR (2021-2026): 5%
The growth of global airless tyre market is being driven by demand for maintenance free tyres from sectors such as defence, construction, and agricultural vehicles. Owing to their load bearing capability and better fuel efficiency the demand from various sector will bolster the growth of the market.
Additionally, the reduction in carbon emission due to better fuel efficiency, use of recyclable materials, and no requirement of spare tyre are few factors projected to aid in the growth of the global airless tyre market in the forecast period.
Industry Definition and Major Segments
Airless tyres, also known as non-pneumatic tyre, do not require air pressure to work. They provide better fuel efficiency due to lower road to surface contact area. These are not affected by puncture and are thus used in high-risk of puncturing areas such as construction.
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By type, the market is bifurcated into:
Radial
Bias
Based on material, the industry can be segmented into:
Rubber
Plastic
The market is divided based on sales channel into:
OEM
Aftermarket
On the basis of vehicle type, the industry can be divided into:
Passenger Vehicles
Commercial Vehicles
Off-Road Vehicles
Two Wheelers
Others
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
Regionally, North America is projected to be the largest shareholder in the global airless tyre market. This can be attributed to the widespread utilisation in military and heavy utility vehicles sector. Additionally, the presence of key market player in the region will aid the growth. Meanwhile, Asia Pacific is also projected to see a significant growth in the forecast period owing to the rapidly developing industrial sector and booming automobile demand.
Key Market Players
The major players in the market are The Goodyear Tyre & Rubber Company, Bridgestone Corporation, Michelin North America, Inc., Toyo Tire Corporation, Continental AG, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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