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The automotive airless tire market size is forecast to increase by USD 281.3 million at a CAGR of 4.83% between 2023 and 2028.
The automotive airless tire industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The rubber segment is estimated to witness significant growth during the forecast period.
Airless tires, an alternative to traditional pneumatic tires, are gaining traction in the automotive industry due to their unique benefits. Made primarily of plastic and rubber, airless tires offer puncture resistance, eliminating the need for spare tires and reducing inventory handling costs. They are particularly suitable for heavy commercial vehicles, construction applications in agriculture, and military uses. The fuel economy of airless tires is another significant advantage, as they have lower rolling resistance and weight reduction compared to pneumatic tires. However, the raw material prices, specifically for rubber compounds, can impact the cost-effectiveness of airless tires. Despite this, the market dynamics are favorable, with increasing demand for fuel-efficient tires and tire labeling regulations driving growth.
The tire size and performance of airless tires are comparable to pneumatic tires, ensuring passenger safety and adequate heat dissipation. Infrastructure development and the expanding automotive tire market, especially in the areas of construction, passenger cars, and light commercial vehicles, are also contributing to the market's growth. Airless tires' ecofriendly nature, improved fuel economy, and enhanced tire performance make them an attractive alternative to pneumatic tires, especially in the context of fluctuating crude oil prices and emission norms.
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The Rubber segment was valued at USD 550.30 million in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 37% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in Asia Pacific (APAC) is experiencing growth due to rising sales of passenger and commercial vehicles in countries like China, South Korea, Japan, Malaysia, and Australia. This trend is driven by improving socio-economic conditions in these regions. India and Indonesia are also anticipated to contribute significantly to the market during the forecast period. The adoption of high net-worth individuals (HNWIs) and the increasing penetration of electric vehicles (EVs) in APAC are major factors fueling the demand for automotive airless tires. With the highest adoption rate of EVs globally, APAC offers substantial opportunities for airless tire manufacturers.
These tires offer advantages such as puncture resistance, improved fuel economy, and enhanced safety features, making them suitable for various vehicle types, including passenger cars, heavy commercial vehicles, construction applications in agriculture, military, and off-road vehicles. Airless tires also provide benefits like weight reduction, better heat dissipation, and reduced rolling resistance, making them an eco-friendly and cost-effective alternative to pneumatic tires. Additionally, the market is witnessing innovation in tire technology, with advancements in tire size, tire labelling, and infrastructure development, including the potential application of 3D printing. Despite raw material price fluctuations, the market is expected to maintain its momentum due to the increasing focus on tire performance, fuel economy, and tire safety in response to emission norms and infrastructure development.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The automotive airless tire market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the automotive airless tire market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, automotive airless tire market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Amerityre Corp - The company specializes in airless tire solutions, including Scissor Lift Tires and Hay Baler Tires. These innovative tires, engineered for various applications, offer enhanced durability and reduced maintenance requirements compared to traditional pneumatic tires. Airless tires ensure consistent performance and reliability, making them a preferred choice for industries seeking optimal efficiency and cost savings.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The automotive tire industry has witnessed significant advancements in recent years, with a growing emphasis on innovation and sustainability. One such development gaining traction is the airless tire, a non-pneumatic alternative to traditional radial and bias tires. This type of tire offers several advantages, including puncture resistance, improved fuel economy, and enhanced durability. Airless tires are particularly appealing for applications in construction and agriculture, where the risk of tire damage from heavy machinery and rough terrain is high. These tires are also suitable for military and off-road vehicles, as they can withstand extreme conditions and provide superior traction.
Furthermore, airless tires offer benefits for passenger vehicles, such as reduced rolling resistance, improved weight reduction, and increased safety. The manufacturing process for airless tires involves the use of advanced plastic compounds and raw material prices play a significant role in the production costs. The tires are typically produced in large warehouses and distributed through machinery sales channels. The infrastructure development required for the production and distribution of airless tires is substantial, including ports and specialized equipment for handling and curing the tires. The adoption of airless tires is influenced by several market dynamics. Fuel economy is a key consideration, as these tires offer improved mileage compared to their pneumatic counterparts.
Additionally, the increasing focus on eco-friendly technologies and the reduction of tire-related issues, such as flat tires and tire blowouts, are driving demand for airless tires. The automotive tire market is a significant industry, with a wide range of applications and vehicle types. The market is influenced by various factors, including emission norms, infrastructure development, and crude oil prices. The shift towards non-pneumatic tires, such as airless and solid tires, is expected to continue as technology advances and the benefits become more apparent. The adoption of airless tires is also influenced by tire performance and safety considerations.
These tires offer improved tear strength and heat dissipation, making them a safer option for passengers. Furthermore, the use of 3D printing technology in the production of airless tires is expected to further enhance their durability and reduce manufacturing costs. In , the airless tire market is an exciting and dynamic industry, offering numerous benefits for various applications and vehicle types. The adoption of these tires is influenced by a range of market dynamics, including fuel economy, safety, and environmental considerations. As technology continues to advance, airless tires are poised to become an increasingly important part of the automotive tire market.
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Market Scope |
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Report Coverage |
Details |
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Page number |
139 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.83% |
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Market growth 2024-2028 |
USD 281.3 million |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
4.37 |
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Key countries |
US, China, Germany, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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