Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Global Tubeless Tire Market (2023-2028) by Tires Type, Vehicle Type, Design Patterns, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Tubeless Tire Market is estimated to be USD 194.37 Bn in 2023 and is expected to reach USD 262.95 Bn by 2028, growing at a CAGR of 6.23%.
Introduction:
Tubeless tires have gained popularity in the automotive and bicycle industries. These tires do not require an inner tube to maintain air pressure, instead, they seal off the rim with an airtight seal, enabling them to hold air directly. Tubeless tires offer several benefits, including enhanced performance, safety, and fuel efficiency.
Market Drivers:
- Growing Demand for Improved Safety and Performance: Tubeless tires provide enhanced safety by withstanding punctures and maintaining air pressure even in minor leaks. They also offer better handling, traction, and rolling resistance, leading to improved vehicle performance.
- Increasing Demand for the Automotive Industry Globally: The global demand for automobiles is on the rise, driving the need for reliable and efficient tires like tubeless tires.
- Rising Demand for Radial Tires: Radial tires, known for their higher fuel efficiency, better handling, and longer tread life, are becoming increasingly popular. This trend boosts the demand for tubeless variations.
- Implementation of Stringent Vehicular Emission and Fuel Economy Norms: Strict emission and fuel efficiency standards drive the adoption of tubeless tires due to their lighter weight and lower rolling resistance, aiding in achieving these regulations.
Market Opportunities:
- Advancement in Technology for Better Performance: Continuous improvement in tire compounds, tread patterns, and sealing technologies enhances the performance, longevity, and safety of tubeless tires.
- Rise in Average Lifespan of Vehicles: As vehicles remain on the road for longer periods, there is a significant market opportunity for tubeless tires that offer durability and puncture resistance, reducing the need for frequent replacements.
- Increasing Production of Vehicles and Surge in Electric Vehicles: The growth in vehicle production, including electric vehicles, creates opportunities for tubeless tires to cater to the demand for efficient and eco-friendly tires.
Market Challenges:
- TPMS technology is not Compatible: Tubeless tires may not be fully compatible with Tire Pressure Monitoring Systems (TPMS), presenting integration challenges for tire and vehicle manufacturers.
- Fluctuation in Raw Material Prices: The fluctuation of raw material prices, such as rubber and steel, can impact tubeless tire production costs, potentially affecting pricing and profit margins.
Companies Mentioned:
- Apollo Tires Ltd
- Bridgestone Corp.
- CEAT Tires Ltd.
- Cheng Shin Rubber Industry Co.
- China National Tire & Rubber Co., Ltd
- Fujitsu Ltd.
- Hankook Tire & Technology Co., Ltd.
- HUTCHINSON S.A.
- Kenda Rubber Industrial Co. Ltd.
- KUMHO TIRE CO., INC
- Metro Tyre Ltd.
- Michelin Co.
- MRF Ltd.
- Natura &Co
- Ralf Bohle GmbH
- The Goodyear Tyre & Rubber Co.
- Toyo Tire & Rubber Co. Ltd.
- Trelleborg AB Ltd.
- Vittoria S.p.A
- Yokohama Rubber Co. Ltd.
Market Segmentation:
The Global Tubeless Tire Market is segmented based on:
Tires Type:
- Radial Tubeless Tires
- Bias Tubeless Tires
Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- Motorcycles
- Off-Road Vehicles
- Sports Vehicles
- Bicycles
Design Patterns:
- Symmetrical Tread Patterns
- Asymmetrical Tread Patterns
- Directional Tread Patterns
- All-Season Tread Patterns
- Winter/Snow Tread Patterns
- Performance/Sport Tread Patterns
Geography:
- Americas
- Europe
- Middle-East & Africa
- Asia-Pacific
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 177 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $194.37 Billion |
| Forecasted Market Value (USD) by 2028 | $262.95 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/5sez9w
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