Press release
Commercial Vehicle Run-flat Tire Inserts Market to Partake Significant Development during 2031 | TMR Study
Transparency Market Research observes keen players in the global market for commercial vehicle run-flat tire inserts market are putting constant efforts to offer differentiator products and to add innovative technology to their products. The use of advanced material for the manufacture of run-flat tire inserts leads to stiff competition among these players. The presence of a large number of small unorganized players that offer competitive pricing is also a key factor for competition in the market.Access Complete Report of Commercial Vehicle Run-flat Tire Inserts Market @ https://www.transparencymarketresearch.com/commercial-vehicle-run-flat-tire-inserts-market.html
Some prominent participants in the global commercial vehicle run-flat tire inserts market include Hutchinson Industries Inc., RunFlat International, TAC Run Flat Tire Systems, Bulldog Direct Protective Systems Inc., Briscoe Technologies Lasco International Group, Mas Makin Metal Ltd., Terra Track, and RunFlat CBR.
The global commercial vehicle run-flat tire inserts market was valued at US$ 443 Mn in 2021. It is estimated to grow at a CAGR of 6.1% from 2022 to 2031. The global commercial vehicle run-flat tire inserts market is expected to cross value of US$ 802.4 Mn by the end of 2031.
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Military and Defense Application Segment to Remain Dominant through 2031
The global commercial vehicle run-flat tire inserts market has been studied on the basis of type, application, and geography in this report. By type, 20 inch holds dominance in the commercial vehicle run-flat tire inserts market as it has wide application area that is suitable for the majority of defense and military vehicles.
The key application segments of the commercial vehicle run-flat tire inserts market include transportation and logistics, military and defense, agricultural, manufacturing, construction, and others. Military and defense application stood as the leading application segment in 2016, and the segment is predicted to hold on to its dominant position over the forecast period.
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Need for Added Safety of Military and Border Patrol Vehicles Boosts Adoption
At the forefront of driving the global commercial vehicle run-flat tire inserts market is the increasing demand for run-flat tire inserts from military and security units for emergency situations. Advancements in military and security units and increasing budgets of governments across the world for military security is displaying the demand for run-flat tire inserts for enhanced vehicular safety in the event of an adverse and emergency condition. Furthermore, increased threat of terrorism has compelled original equipment manufacturers (OEMs) to equip vehicles with run-flat tire insert systems, especially for the ones that are designed for critical applications.
The continual evolution of commercial vehicle run-flat tire inserts is having a positive bearing on this market. The newer inserts provide a solution for flat tires and do not have the risk of an accident even if air pressure inside the tire drops. They also facilitate better performance in situations such as fast moving traffic, poor visibility, bad weather, or criminal activity on the roads.
In addition, run-flat tire inserts have many advantages over normal tires such as less maintenance, safety and reduced risk of accidents, and safety of internal parts of tires. This is also catalyzing the growth of the commercial vehicle run-flat tire inserts market.
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The review presented here is based on the findings of a report by Transparency Market Research, titled "Commercial Vehicle Run-flat Tire Inserts Market (Type - 17 inch, 18 inch, 19 inch, 20 inch, 22 inch, 23 inch, and 24 inch; Application -Transportation & Logistics, Military & Defense, Agricultural, Manufacturing, and Construction) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2022 - 2031."
The global commercial vehicle run-flat tire inserts market is segmented as follows:
Commercial Vehicle Run-flat Tire Inserts Market: By Type (Size)
17 inch
18 inch
19 inch
20 inch
22 inch
23 inch
24 inch
Others
Commercial Vehicle Run-flat Tire Inserts Market: By Application
Transportation & Logistics
Military & Defense
Agricultural
Manufacturing
Construction
Others (Healthcare and Municipal)
Commercial Vehicle Run-flat Tire Inserts Market: By Geography
- North America
The U.S.
Canada
Rest of North America
- Europe
The U.K.
Germany
France
Rest of Europe
- Asia Pacific
India
Japan
China
Rest of Asia Pacific
- Middle East and Africa (MEA)
GCC
South Africa
Rest of Middle East and Africa
- South America
Brazil
Argentina
Rest of South America
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