What's Driving the Airless Tires Market Trend? Top Players are Bridgestone Americas, Hankook Tire America Corp., Michelin, Toyo Tires

The concept of 3D printing is deemed to bring a disruption of sorts in the airless tires market. Having recognized the immense potential of this technology, market players have been increasingly experimenting with 3D printing to unlock its credibility to the fullest. Quoting a recent case, Michelin, one of the leading airless tires industry firms has recently made its way to the front page with the launch of its airless 3D printed tire. This breakthrough model is reportedly based on alveolar structure, similar to that of air sacs found on human lungs.

Goodyear Tire & Rubber Company, one of predominant players in airless tires market, has recently released an airless or non-pneumatic turf tire solution for commercial mower applications. Reported to be exclusively available on Bad Boy Mowers' Outlaw XP model, this groundbreaking airless tire technology is particularly designed to eliminate air pressure checks, and flat tires. The move is claimed to be a revolution with regard to the launch of non-pneumatic technologies in the automotive sector and is deemed to remarkably strengthen Goodyear's position in the competitive landscape of airless tires industry.

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Speaking of the competitive scenario, tire companies worldwide have already shifted their focus towards the development of airless tire with companies like Bridgestone, Michelin and Hankook making the product landscape of airless tires market rather dynamic. In this regard, emphasized by the initiatives taken by tire manufacturers to develop specialized tires and encourage their commercialization, airless tire produced using recyclable plastic materials is predicted to attract the maximum demand. As per estimates airless tires market share from plastic is anticipated to exceed USD 135 million by 2024.

According to The International Organization of Motor Vehicle Manufacturers, around 24 million commercial vehicles were produced in 2017 alone. Increased rate of infrastructure development will boost the production of HCVs and LCVs that need to counter rugged surfaces and heavy loads on a regular basis, giving impetus to the airless tires market. Military vehicles are expected to add to a significant demand for airless tire, primarily in the U.S., which is indeed a prominent hub for the industry giants.

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It is vividly coherent that technological upgradations in product design and deployment are the top-notch parameters underlining the strategic landscape of this fraternity. The business space is set to garner an appreciable popularity across APAC belt, especially by the extensive growth of military and commercial vehicle sectors in China and India. APAC airless tires market is slated to hold more than 30% of the global landscape by 2024.

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