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Rising Popularity of Off-Road Vehicles to Favor Airless Tires Market

The global airless tire market 2020 has progressed significantly over the years and is currently exhibiting signs of achieving a decent growth rate of 9% during the forecast period (2019-2023), according to Market Research Future (MRFR).

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Rising Popularity of Off-Road Vehicles to Favor Airless Tires Market

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  1. Airless Tires Market www.marketresearchfuture.com

  2. Market Highlights: As per a detailed analysis by Market Research Future (MRFR), the global airless tires market is anticipated to garner a CAGR of 9% during the forecast period (2018-2023). The increasing adoption of airless tires for heavy commercial vehicles from the military sector is predicted to encourage the market growth. Airless tires are the next-generation tires which eliminate the requirement for air pressure in the tires. The manufacturers and industry participants from across the world are designing eco-friendly tires using recycled materials as airless tires have a longer life span compared to conventional tires. They are also known as non-pneumatic tires and are not supported by air pressure. These tires are based on honeycomb or spokes structure and are generally manufactured by using 3D printing. They are durable, puncture proof, and are perfect for rugged applications.

  3. Segmentation: The global airless tires market has been segmented on the basis of vehicle, product, size, material, and sales channel. By mode of product, the global airless tires market comprises radial and bias tires. Among these, the segment for radial tires is considered to experience significant growth. The surging demand for airless tire manufacturers for the production of radial tires is likely to generate significant revenues. The benefits offered by radial tires like higher flexibility, improved shock absorbing ability, enhanced strength, and low fuel consumption are likely to trigger its demand. By mode of the vehicle, the global airless tires market has been segmented into HCVs, LCVs, terrain vehicles, military vehicles, two-wheelers, and utility vehicles. The surging adoption of airless tires in HCV is anticipated to take the market demand to another level. The rising infrastructure and construction globally require tires that can work for rugged activities and carry more weight. This is estimated to propel the demand for HCVs across the globe. Browse Complete Report Details: https://www.marketresearchfuture.com/reports/airless-tires-market-6910

  4. Regional Analysis: Considering the global scenario, the North American region is considered to dominate the global airless tire market. The early adoption of advanced tires in the US and the installation of advanced technologies in premium cars is likely to propel the demand for airless tires in the regional market. The European region is likely to contribute a large share due to the surging regulations from the European Commission for convenience and driver’s safety while driving. The emergence of low-cost embedded non-pneumatic tires in advanced vehicles further enhance the level of safety and convenience which escalates the demand for airless tires in this region. The Asia Pacific region is likely to gain prominence in the foreseeable future. The surging demand for automotive in this region has resulted in the increment in the automotive sector in countries like Japan, China, and South Korea. This has contributed to the market growth in this region.

  5. Scope of the ReportThis study provides an overview of the global airless tires market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and The Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global airless tire market by product, vehicle type, material, tire size, sales channel and regions.

  6. Key players: The prominent players operating in the global airless tires market comprises Hankook Tire (South Korea), Bridgestone Corporation (Japan), Pirelli (US), The Goodyear Tire & Rubber Company (US), Amerityre Corporation (US), Sunitomo Rubber Industries (Japan), Toyo Tire & Rubber Co. Ltd. (Japan), Michelin (France), Tannus Ltd. (Korea), and Cooper Tire (US). https://www.marketresearchfuture.com/press-release/airless-tires-market

  7. Contact: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028 Maharashtra, India +1 646 845 9312 Email: sales@marketresearchfuture.com

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