The automotive airless radial tire market share is expected to increase by 22.82 million units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.21%. This automotive airless radial tire market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The automotive airless radial tire market report also offers information on several market vendors, including Amerityre Corp., Bridgestone Corp., Croc Tyres Pty Ltd., Hankook Tire and Technology Co. Ltd., Michelin Group, Polaris Inc., Sumitomo Rubber Industries Ltd., THE GOODYEAR TIRE and RUBBER Co., Toyo Tire Corp., and Yokohama Rubber Co. Ltd. among others. Furthermore, this report extensively covers automotive airless radial tire market segmentations by application (off-road vehicles and other vehicles) and geography (North America, Europe, APAC, MEA, and South America).
What will the Automotive Airless Radial Tire Market Size be During the Forecast Period?
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Automotive Airless Radial Tire Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increased use of golf carts is notably driving the automotive airless radial tire market growth, although factors such as increased rolling resistance may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive airless radial tire industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Airless Radial Tire Market Driver
The increased use of golf carts is one of the key factors driving the growth of the global automotive airless radial tire market. This increases investment in golf carts that are designed to carry light loads and a maximum of four people over short distances. These carts have airless radial tires that require lower tire maintenance. This is expected to drive the number of operating golf courses and, subsequently, increase the demand for golf carts. These carts form a convenient mode of transport for beverages, balls, scorecards, and clubs on golf courses. These vehicles are mostly powered by electric motors and occasionally by gasoline-powered motors. The maximum speed that these vehicles can achieve is 35 miles per hour. Golf carts are designed to be silent and slow-moving utility vehicles that can also be used in residential neighborhoods for short-distance traveling. These vehicles are permitted to be used on secondary roads and are classified as low-speed vehicles according to the Federal Standards of the US. Hence, vehicle makers prefer designing these utility vehicles with features that reduce maintenance requirements. Airless radial tires are expected to be used with these vehicles to improve tire life over smooth and slightly rough surfaces.
Key Automotive Airless Radial Tire Market Trend
The development of tweels will fuel the global automotive airless radial tire market growth. Tweel is a hybrid between tire and wheel. Michelin Group has been offering tweels since 2012. Tweel is an automotive airless tire held together by rubber spokes. The airless tire model was designed to reduce the amount of bounce while running over road bumps. The rubber spokes transfer energy arising from road bumps to provide a smoother drive. Michelin Group has been developing a range of tweel model airless tires for various vehicles such as the skid steer loaders and light-tactical vehicles used by military special operators. The company offers tweels for light construction vehicles, ATVs, golf carts, and zero-turn mowers. However, in July 2019, Michelin, in partnership with General Motors, announced to manufacture of airless tires for passenger cars from 2024. The trend of the development of tweets, which started in 2012, is steadily growing across different types of automobiles. This trend is expected to have a positive impact on the global automotive airless radial tire market during the forecast period.
Key Automotive Airless Radial Tire Market Challenge
The high penetration of pneumatic tires is a major challenge for the global automotive airless radial tire market growth. In 2019, the global automotive market was dominated by pneumatic tires. Vehicle buyers are accustomed to using pneumatic tires in all their vehicles. A sudden change to automotive airless radial tires will be less probable, considering the wide list of technical challenges that airless tires have to overcome to be commercially viable. Moreover, modern pneumatic tires are highly reliable and less susceptible to tire blowouts unless these tires are used to their extreme limits. Maintenance centers for pneumatic tires are widely available, and minor servicing such as changing punctured tires can be undertaken by car buyers. On the other hand, automatic airless radial tires require servicing by experts. Moreover, the costs of maintaining these tires are significantly higher than pneumatic tires. Pneumatic tires will continue to occupy the major share of the automotive market. Additionally, the pneumatic tires market is witnessing several innovations, such as the introduction of run-flat tires and self-inflating tires, which are expected to hamper the growth of the global automotive airless radial tire market during the forecast period.
This automotive airless radial tire market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global automotive airless radial tire market as a part of the global tires and rubber market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive airless radial tire market during the forecast period.
Who are the Major Automotive Airless Radial Tire Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Amerityre Corp.
- Bridgestone Corp.
- Croc Tyres Pty Ltd.
- Hankook Tire and Technology Co. Ltd.
- Michelin Group
- Polaris Inc.
- Sumitomo Rubber Industries Ltd.
- THE GOODYEAR TIRE and RUBBER Co.
- Toyo Tire Corp.
- Yokohama Rubber Co. Ltd.
This statistical study of the automotive airless radial tire market encompasses successful business strategies deployed by the key vendors. The automotive airless radial tire market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Amerityre Corp. - The company offers scissor lift tires, flat-free bicycle tires, and other products.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive airless radial tire market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Automotive Airless Radial Tire Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the automotive airless radial tire market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global tires and rubber market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Automotive Airless Radial Tire Market?
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39% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the automotive airless radial tire market in North America. Market growth in this region will be slower than the growth of the market in regions.
The increased use of golf carts will facilitate the automotive airless radial tire market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The market in North America was adversely affected in 2020 due to the COVID-19 pandemic. The pandemic had a negative impact on off-road motorsports events as they had to be canceled or postponed to curb the spread of the disease. The pandemic disrupted market growth by lowering the demand for off-road heavy-duty vehicles, which declined the demand for automotive airless radial tires in the region. In 2021, the regional market in focus will grow due to the scheduled off-road motorsports events. Growth in industrial activity in this region will drive the regional market in focus during the forecast period.
What are the Revenue-generating Application Segments in the Automotive Airless Radial Tire Market?
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The automotive airless radial tire market share growth by the off-road vehicles segment will be significant during the forecast period. Off-road vehicles are mostly used for recreational and agricultural purposes, wherein these vehicles can be used for transporting men and light goods through rough terrains.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive airless radial tire market size and actionable market insights on post COVID-19 impact on each segment.
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Automotive Airless Radial Tire Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.21% |
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Market growth 2021-2025 |
22.82 million units |
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Market structure |
Concentrated |
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YoY growth (%) |
5.46 |
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Regional analysis |
North America, Europe, APAC, MEA, and South America |
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Performing market contribution |
North America at 39% |
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Key consumer countries |
US, Canada, Germany, Australia, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Amerityre Corp., Bridgestone Corp., Croc Tyres Pty Ltd., Hankook Tire and Technology Co. Ltd., Michelin Group, Polaris Inc., Sumitomo Rubber Industries Ltd., THE GOODYEAR TIRE and RUBBER Co., Toyo Tire Corp., and Yokohama Rubber Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Automotive Airless Radial Tire Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive automotive airless radial tire market growth during the next five years
- Precise estimation of the automotive airless radial tire market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive airless radial tire industry across North America, Europe, APAC, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive airless radial tire market vendors
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