Airless Tires Market Report Overview:
The airless tires market is anticipated to surpass USD 63.6 million by 2026,witnessing a healthy CAGR of 4% during the review period. The global airless tires market is attributed to the rising need for fuel-efficient tires, stringent government policies growing tire labelling, and adoption for eliminating the requirement of spare tires. However, the increasing raw material prices and less reliable options are anticipated to hinder the market growth during the review period. Additionally, the rising demand for airless tires in fleets is anticipated to offer lucrative growth opportunities during the study period.
Airless tires are not upheld via gaseous tension and are without level. Moreover, industry members and producers are planning eco-accommodating tires through reused materials since airless tires have a more drawn-out life contrasted with ordinary tires. Different provisions presented via airless tires are higher toughness, cut confirmation, higher utilization in arduous exercises, and some more. The worldwide airless tires market is driven by elements, for example, expanding interest for eco-friendly tires, unofficial laws in regard to tire naming, and reception for wiping out the prerequisite of extra tires. In any case, the expanding crude material costs and fewer solid choices are relied upon to control the market development. The developing interest for airless tires in armadas is relied upon to set out development open doors for the market players.
The global airless tires market has been classified based on type, material, tire size, vehicle type, and sales channel.
Based on the tire size, the global airless tires market is segmented into<20 inches, 21–25 inches, 26–30 inches, 31–35 inches, >35 inches. In terms of type segment, the global market has been bifurcated into radial and bias. By material type, the market is classified into rubber and plastic. Rubber is an economic material and exhibits a good load capacity.
Based on sales channel type, the global airless tires market is bifurcated into OEM and aftermarket. In terms of vehicle type, the global market is categorized into two-wheelers, passenger cars, light/heavy industrial/commercial vehicles, and trucks & buses.
Geographically, the airless tires market has been studied across North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific has one of the growing automotive aftermarkets owing to the fastest growing automotive industry in developing countries such as China, India, and Japan. The growth of the global market is attributed to the rising construction activities, industrial development, and the increase in demand for fuel-efficient technologies. Moreover, Asia-Pacific has plenty of raw material suppliers, low labor costs, and supportive government policies in countries such as Japan, China, and South Korea.
The major market players of the global airless tires market are Continental AG (Germany), Bridgestone Corporation (Japan), Michelin (France), The Hankook Tire & Technology (South Korea), and The Goodyear Tire & Rubber Company (US).
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