Tubeless Tire Market: 2019 Global Industry Size, Segments, Share, Trends, Regional, Opportunity, Key Country, And Competitive Forecast To 2023
Tubeless Tire Market report presents a detailed overview of the market’s present statistics and potential future growth. Tubeless Tire market is expected to exhibit a strong 7.15% Compound Annual Growth Rate And reach $211.5 Billion over the forecast period from 2019 to 2023.
Pune, India – January 15, 2019 /MarketersMedia/ —
Tubeless Tire Market Driven by the Growth in automotive industry in developing countries, implementation of stringent vehicular emission & fuel economy norms, increase in production of vehicles and rising demand for radial tires. Tubeless Tire Market report presents a detailed overview of the market’s present statistics and potential future growth trajectory based on a solid analysis of the market’s historical growth trajectory. Global Tubeless Tire market is segmented based on Tire Type, Vehicle Type, Distribution Channel, and regions.
According to the report, the global Tubeless Tire market is expected to exhibit a strong 7.15% Compound Annual Growth Rate And reach $211.5 Billion over the forecast period from 2019 to 2023.
Leading players in the global Tubeless Tire market include:
Pirelli & C. S.p.A (Italy), Yokohama Tire Corporation (U.S.), Toyo Tire & Rubber Co., Ltd. (Japan) and Cooper Tire & Rubber Company (U.S.), Bridgestone Corporation (Japan), The Goodyear Tyre & Rubber Company (U.S.), Madras Rubber Factory (MRF) Limited (India), CEAT Tyres ltd. (India), Continental Corporation (Germany), Michelin (France).
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Market Research Future published research report on global Tubeless Tire market. A tubeless tire refers to an inflated tire which does not require any inner tube. The tubeless tire have molded rim which inserts air pressure inside the tire so as to seal the flanges of the wheel rim. This makes the tubeless tire safer than the traditional tire. The tire and the rim in the tubeless tire form an airtight seal, which exerts a pressure and does not allow the tire to puncture easily.
The increase in urbanization will lead to an increase in use of both, passenger and commercial vehicles, due to which there will be growth in automotive tubeless tires market. China is one of the most densely populated urban centers. Governments of various countries have taken initiatives to promote the manufacturing and adoption of tubeless tires by the manufacturers for controlling harmful emissions. Therefore, the introduction of stringent vehicular emission and fuel economy norms, drive the growth of the tubeless tires market.
The tubeless tire market has various restraints that hinder the market growth such as Fluctuation in Raw Material Cost and Huge Capital Requirement to set up new Manufacturing Facility.
Furthermore, although tire production in the passenger car segment is already completely radialized, the number of radial tires in various segments of the market is expected to increase. The automotive market of China has experienced increased growth, which will drive the automotive technology for tubeless tires. According to the U.S. Department of Transportation, the average age of all light vehicles in operation was 11.4 years in 2014. Increasing numbers of vehicles on the road, builds a new business pipeline for the aftermarket, thereby driving the growth of the market.
Tubeless Tire Market Segmentation:
The scope of the study segments the global tubeless tire market by tire type, vehicle type, distribution channel and regions.
By Tire Type:
Radial
Bias
By Vehicle Type:
Passenger car
Commercial Vehicles
Others
By Distribution Channel:
OEM
Aftermarket
By Regions:
North America
Asia Pacific
Europe
Rest of the World
Tubeless Tire Market Regional Analysis:
Asia-Pacific region is expected to be the largest market of tubeless tire market during the forecast period. Asia Pacific has the largest automotive tubeless tire market, owing to rise in automotive industry in countries such as China, Japan, and South Korea. The increase in the penetration level of passenger cars and two wheelers in the region, is boosting the demand for tubeless tires.
The increase in sales of the automobiles in the region can be attributed to factors such as increasing per capita income, increased infrastructure spending, attractive FDI from governments and economic production cost. Asia Pacific region has ample number of tire manufacturing plants due to huge rubber production, low labor cost and favorable government policies. Asia Pacific is expected to continue its dominance in the global tubeless tire market, owing to projected increase in the region’s vehicle production, sales and vehicle fleet.
Tubeless Tire Market Report Table Of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
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