Airless Tires Market Analysis by Size, Share, Trends, Key Competitors, Sales, Manufacturing, Demand, Growth Factors, Industry Forecast Till 2023
Global Airless Tires Market Is Predicted To Witness 9% CAGR By 2023. Global Airless Tires Market Overview, Segmentation, Regional Analysis, Forecast Period 2019-2023.
Pune, India – March 28, 2019 /MarketersMedia/ —
Global airless tires market Research Report published by Market Research Future. Airless Tires Market Report Provides Segmentation analysis by Vehicle Type, by Tire Size, by Sales Channel and by Region. The airless tires market is expected to witness 9% CAGR during the period, 2019 to 2023.
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Key Players:
The prominent market players in the global airless market include Bridgestone Corporation (Japan), Hankook Tire (South Korea), The Goodyear Tire & Rubber Company (US), Pirelli (US), Sunitomo Rubber Industries (Japan), Amerityre Corporation (US), Michelin (France), Toyo Tire & Rubber Co. Ltd. (Japan), Cooper Tire (US), Tannus Ltd. (Korea).
Airless Tires Market Overview:
Airless tires eradicate the need of air pressure in the tires and provide higher durability over conventional tires. The need for improved road safety has led to the development of airless tires in order to prevent the road accidents ratio caused by punctured tires. Increasing necessity of tires that are robust and highly flexible to provide tremendous shock absorbing properties is driving the market demand for airless tires. In addition, OEMs and industry participants are developing eco-friendly tires with the recycled products such as used rubber tires and plastics, delivering a highly durable and puncture proof tires which is anticipated to drive the demand for airless tires.
Moreover, greater compatibility of airless tires with commercial vehicles result in increasing ride safety with enhanced traction at low speed. However, various drawbacks offered by airless tires mainly including extreme production cost, limited performance during high speed, higher friction, less suspension, and increased rolling resistance are expected to hamper the market in future. Rising global raw material prices of natural resources including rubber is expected to change the preferences of the end users to switch from conventional tires to non-pneumatic tires over the forecast period.
Airless Tires Market Segmentation:
The global airless tires market is segmented by product, by vehicle, by material, by size, and by sales channel. Based on type, the market is divided into radial and bias tires.
On the basis of vehicle, the market is divided into LCVs, HCVs, Military vehicles, Terrain Vehicles, Utility vehicles, Two-wheelers. Major adoption of airless tires in HCV is expected to take the market demand on another level.
The non-pneumatic tires market is divided into rubber and plastics by material type, increasing cost of rubber is expected to hinder the market demand for rubber tires.
On the basis of sales channel, the OEMs are projected to dominate the airless tires market owing to major contribution of manufacturers towards the process of maintenance of safety standards, Various offering such as better service, durability, provision of safe driving conditions, and easy installation over aftermarket are expected to commercialize on larger scale and augment the market demand over the forecast period.
Regional Analysis:
In terms of region, the global market for airless tires is divided into North America, Europe, Asia-Pacific, and The Rest of the World. North America is expected to dominate the global market share of airless tires owing to early adoption of non-pneumatic tires coupled with advancements in automotive industry.
Moreover, rising road accident safety concerns due to tire blowout is anticipated to drive the market demand during the forecast period. Stringent regulations directed by European Commission for driver’s convenience and safety along with introduction of advanced chip embedded tires is anticipated to augment the market demand in future. Growing number of automotive industries in the countries like China, South Korea, and Japan is predicted to expand the market share of Asia-Pacific over the forecast period.
Table of Contents
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 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/Supply Chain Analysis
Continue….
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