Global Tire Valve Market Is Expected to Reach USD 1,152.73 million by 2026

As per the report published by Fior Markets, the global tire valve market is expected to grow from USD 825.38 million in 2018 and expected to reach 1,152.73 million by 2026, growing at a CAGR of 4.79% over the forecast period from 2018 to 2026.

Tire valve plays a significant role in ensuring the overall success of a ride. Tire valves has wide application in the passenger, commercial, and two wheelers. Increasing demand for two wheelers across the developing region is expected to drive the growth of two wheeler tire valves.

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The tire valve functions as a stem which is used to inflate tubeless tires and inner tubes of vehicles. Inner tubes require molding the valve onto the tube, whereas tubeless tire valves are mounted into the rim on to which the tire is placed. Valve are usually made up from aluminium, steel or black rubber and has the size of a finger, found on each tires wheel. There are three basic types of tire valves: high-pressure snap-in, rubber snap-in, and high-pressure metal clamp-in. They are most commonly used on automobile, motorcycle, and bicycle tires, and also for many other applications.

Global tire valve market is expected to witness rapid growth over the forecast period, with the increasing sales of passenger car and rising car field expenditures across the globe. However,volatility in raw materials such as rubber and metals is expected to hamper the tire valve growth during the forecast period.Currently, rubber production is in the off-season. Countries such as Thailand, Indonesia and Malaysia jointly announced that they will implement "rubber export restrictions", which may create the shortage of rubber across the globe.

Key players operating in the global tire valve market includePacific Industrial, Continental, Baolong, Alligator, Hamaton, Wonder, White Horse Industrial Company, Ltd., and Coilhose Pneumatics among others. The tire valve market is quite fragmented with the presence of numerous small and big players in the market. The companies are adopting different key strategies to gain the major market share and competitive advantage in the market. Strategies such as new product development, merger and acquisition, geographical expansion, and fund raising for the new development have been adopted by key vendors in the market.

In May 2018, Pacific Industrial Co., Ltd. announced the agreement to acquire the valves business of Sensata Technologies for the total value of USD 173 million.
In September 2019, Wegmann Automotive G.m.b.H., wheel balance weight producer, has acquired parts of the business operations of Alligator VentilfabrikG.m.b.H. and subsidiaries, a provider of tire valves and tire pressure monitoring systems (TPMS).
In June 2019, Hamaton Automotive Technology announced the plan to invest in and set up a production plant for tire valves in Thailand enhance the competitiveness and profitability of the company's products, to make full use of local resources, and expand its Southeast Asian market.
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The rubber tire valve segment held largest market share of 66.43% in 2018

The type segment is classified into rubber valve and metal valve. The Rubber Tire Valve segment held largest market share of 66.43% in 2018, owing to their higher usage in the tire valve market. Among all, tubeless rubber snap-in valves is one of the popular rubber valve available in the market. It allow a maximum cold tire inflation pressure of 65 psi and are designed for passenger car, light-duty trailer and light truck applications, as well as are suitable for use in autocross competition. Furthermore, most rubber snap-in valves use metal caps and plastic caps to help complement the appearance of custom or alloy wheels.

The passenger vehicle held the largest market share and valued at USD 437.20 million in 2018

Application segment is divided into two wheelers, passenger vehicle, commercial vehicle, and other. The Passenger vehicle held the largest market share and valued at USD 437.20 million in 2018. Most passenger car valve stems are only rated to a maximum of 65 psi. Tubeless rubber snap-in valves allow a maximum cold tire inflation pressure of 65 psi and are designed for passenger cars. New regulations relating to installation of TPMS is boosting the growth of tire valves in the passenger cars.

Regional Segment Analysis of the tire valve Market

North America (U.S. , Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
The market has been divided into North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific held largest market share of 49.85% in the year 2018. Growing automotive hub in the countries such as India, China, and in Southeast Asia countries is positively boosting the market growth in the Asia Pacific region. China is one of the largest producer country and manufactures of cheap and high quality rubber tire valves. In addition to this, North America is expected to grow at significant growth rate in the global tire valves market over the forecast period. This is mainly attributed to new regulations standard relating to installation of TPMS in the region. The American TREAD act mandates that TPMS Systems should be used on all passenger cars sold in the USA and other North American regions. In Canada, 70% of new vehicles (model year 2007+) are equipped with TPMS. TPMS uses sensors located inside the valve stem for the detection and to warn drivers when tire pressure is significantly underinflated.

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About the report:

The global tire valve market is analysed on the basis of value (USD Million), volume (Units), consumption (Units), imports (Units) and exports (Units).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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