Airless Tires Market Overview

The global airless tires market report by Market Research Future (MRFR) contains drivers and challenges to be faced by the industry for the forecast period (2023-2032). The devastating effects of the COVID-19 pandemic and its effect on the market are also explored in detail. Airless tires are tires being manufactured by tire companies owing to their higher capacity for long rides. They cater to customer demand for non-frequent stops for checking air pressure. Tire manufacturers are launching airless tires for improving driving performance and load-bearing of cars. The Airless Tires Market industry is projected to grow from USD 0.054 Billion in 2023 to USD 0.1 Billion by 2032

The Airless Tires market is witnessing a surge in demand driven by the need for more durable and maintenance-free tire solutions across various industries and applications. Unlike traditional pneumatic tires, airless tires are designed to withstand punctures, cuts, and wear without the risk of deflation, offering enhanced reliability and safety in challenging environments. These tires utilize innovative materials such as solid rubber or composite compounds to provide superior traction and stability, making them ideal for off-road vehicles, construction equipment, and military vehicles where reliability and performance are paramount.

With increasing concerns about sustainability and the rising cost of tire maintenance, the Airless Tires market is experiencing significant growth as consumers and businesses seek cost-effective and eco-friendly alternatives. Moreover, advancements in manufacturing technologies, such as 3D printing and advanced materials engineering, are driving innovation in airless tire design, enabling manufacturers to tailor products to specific customer needs and industry requirements. As the demand for durable, maintenance-free tire solutions continues to rise, the Airless Tires market is poised for further expansion and technological advancements in the coming years.

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Airless Tires Market Scope

The global airless tires market is expected to register a CAGR of 9% over the forecast period. This is attributed to rising concerns over driver safety and large accident rates globally. Airless tires work without air pressure and are being manufactured using eco-friendly materials. Low maintenance and replacement costs of airless tires coupled with puncture resistance and driver assistance can drive market demand significantly.

Expansion of the e-commerce sector and rise of industrial vehicles can create a huge opportunity for the airless tires market. Autonomous and semi-autonomous sectors are likely to create opportunities for growth in light of rising connected systems in the transport sector.

The COVID-19 pandemic has negatively affected the market growth owing to production units of airless tire manufacturers being shut down to curb the virus. But economic stimulus packages may revive the market.

The high noise emitted by airless tires and dip in driving experience may deter market growth.

Airless Tires Market Industry News

The Smart Tire Company is planning to launch airless tires for customers in the U.S. Tires will be derived from Nitinol, a combination of nickel and titanium.

Segmentation

By product type, the airless tires are divided into bias tires and radial tires. The largest market share is held by radial tires owing to its features of higher flexibility, better shock-absorbing ability, and low fuel consumption rate. Preference of radial tires by automotive manufacturers can drive the demand in the segment.

On the basis of vehicle, the market is segmented into LCVs, HCVs, terrain vehicles, military vehicles, two-wheelers, and utility vehicles. HCVs are expected to lead in market demand owing to development of tires for rugged activities. Demand for non-pneumatic tires due to higher durability can spur the segment demand in the airless tires market.

By material, the airless tires market is segmented into plastic material and rubber material. Plastic can lead the market owing to recycling of plastic for reuse in two-wheelers.

By size, the market is segmented into 21”-25”, 26”-30”, <20”, 31”-35”, and >35”.

On the basis of sales channel, the market is segmented into OEMs and aftermarket. OEMs are likely to gain a higher market share as safety standards and durability and easy installation features offered by tire manufacturers.

Regional Analysis

North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) are regions considered for the global airless tires market.

North America is expected to dominate the global market owing to early adoption of airless tires and manufacture of premium cars. Agreements between tire and automobile manufacturers may drive the market demand significantly. Re-treading of tires without replacing them can extend the lifespan of tire and may garner huge interest among customers.

Europe has assumed the second position in the airless tires market due to regards for driver safety and convenience. Installation of low-cost chips in non-pneumatic tires for increasing the safety level is expected to drive market demand in the region.

Competitive Landscape

Toyo Tire and Rubber Co. Ltd., Bridgestone Corporation, Tannus Ltd., Pirelli, The Goodyear Tire and Rubber Company, Michelin, Amerityre Corporation, Hankook Tire, Cooper Tire, and Sumitomo Rubber Industries are prominent manufacturers in the global airless tires market. Sustainable production methods and recycling techniques are expected to be the main focus of these manufacturers for lowering the carbon footprint and reducing rubber waste volumes. Joint research agreements between tire manufacturers and automotive behemoths can bolster the market growth.

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