Tokyo, Jan. 13, 2023 (GLOBE NEWSWIRE) -- The airless tires market size was accounted at USD 53.62 million in 2022. The airless tires are flat-free since they do not rely on air pressure for support. Furthermore, because airless tires have a longer life than traditional tires, the key market players are producing eco-friendly tires using recycled materials. The airless tires have a number of advantages, including longevity, puncture resistance, and increased use in rigorous activities, among others.
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The factors driving the global airless tires market include the rising demand for fuel-efficient tires, government laws governing tire labelling, and the adoption of policies that eliminate the need for spare tires. The increasing raw material prices and less alternatives, on the other hand, are likely to limit market expansion. The key market players are projected to benefit from the increased demand for airless tires in fleets.
Report Highlights
- Based on the product, the radial tires segment dominated the global airless tires market in 2022 with highest market share. This is due to its higher performance characteristics, high strength, good flexibility, increased shock absorbent feature, and superior flexibility. Other factors, such as its lower fuel consumption and industry players’ strong preference for manufacturing radial tires, are projected to boost the product demand during the forecast period.
- Based on the sales channel, the original equipment manufacturer (OEM)segment is estimated to be the most opportunistic segment during the forecast period. This is attributed to a change in consumer preference for airless tires for superior performance in a variety of terrains during the forecast period.
Regional Snapshot
North America is the largest segment for airless tires market in terms of region. The need for airless tires in industrial and construction equipment vehicles is likely to propel the airless tires market in the North America. Furthermore, the airless tires market is likely to benefit from increased demand for high-performance industrial-grade tires, particularly in the replacement market, throughout the forecast period. Moreover, the governments and other organizations in the region are working hard to reduce vehicular emissions by encouraging the adoption of fuel-efficient components in the automobiles.
Asia-Pacific region is the fastest growing region in the airless tires market. The surge in demand for airless tires in the region can be attributed to factors including increased construction activity, the demand for fuel-efficient technology, and industrial development. The raw material suppliers abound in Asia-Pacific, as do low labor costs and favorable government policies in nations such as China, South Korea, and Japan.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2022 | USD 53.62 Billion |
| Revenue Forecast by 2030 | USD 80.52 Billion |
| CAGR | 5.2% from 2022 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Trelleborg, Continental AG, Michelin, Toyo Tire Corporation, Hankook Tire & Technology Co. Ltd, Sumitomo Rubber Industries Ltd., The Goodyear Tire & Rubber Company, The Yokohama Rubber Co. Ltd, Bridgestone Corporation, Ameritire Corporation and Others |
Market Dynamics
Drivers
Surge in demand for military vehicles
Utility all-terrain vehicles are versatile and can be used for a wide range of applications, including military, agricultural, construction, and forestry. The demand for these vehicles is increasing as the military, agriculture, and construction activities expand significantly. The exterior of airless tires has traditional off-road tread but no air inside. Instead, they're hollow, with rubbery spokes connecting the hub to the tread. The spokes help the tread grip the ground beneath it. This structure assists drivers in navigating challenging terrain. Furthermore, an increase in demand for all-terrain vehicles (ATVs) in agricultural and military & defense applications in Asia Pacific and North America is expected to drive the market for airless all-terrain vehicle tires.
Restraints
Higher recyclability of plastics
The production of automobile airless tires necessitates a significant amount of expensive equipment for each worker. As a result, automotive manufacturing is a capital-intensive industry with significant capital expenditures. Capital-intensive enterprises' operations necessitate high-priced investments in goods such as facilities, infrastructure, and large manufacturing equipment. The primary environmental concerns in the manufacture of any type of rubber product are fugitive air emissions, solid wastes, wastewater, and hazardous wastes. As a result, the high expenses of manufacturing tire without plastic is a restricting factor for the market.
Opportunities
Rise in demand for maintenance free tires
Despite its appearance, the airless tire is made of solid polyurethane and has a saw-toothed tread. It has the same bounce and load handling characteristics as an air-filled tire, but without the required maintenance of periodically re-inserting air into the tire to keep it from flattening. The airless tire's solid rubber, as opposed to foam-filled tires, allows it to roll quietly and smoothly, with added shock absorption. The airless tire can roll over a pile of stones, glass, and nails without deflating because there is no tubing. Unlike pneumatic tires, the solid rubber of an airless tire is chemical and heat resistant and will not crack or decay.
Challenges
Low performance during friction
In comparison to pneumatic tires of comparable shape and size, airless tires have higher rolling resistance and less suspension. Airless tires are typically filled with compressed polymers (plastic) rather than air, or they may be solid molded products. The drawbacks of airless tires vary according to their application. Heavy equipment operators who use machines with solid tires experience fatigue. Thus, low performance is observed during friction or high-speed scenarios which is a challenge for the market.
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Segments Covered in the Report
By Product
- Radial
- Bias
By Vehicle
- Military Vehicle
- Passenger Vehicle
- Commercial Vehicle
- Terrain Vehicle
- Utility Vehicle
- Two-wheelers
By Material
- Rubber
- Plastic
By Sales Channel
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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