Rolling into the Future: Airless Tires Market Projected to Hit $1.43 Billion by 2027 with a 5.7% CAGR || Siemens AG, Honeywell International Inc., Johnson Controls International PLC

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Airless Tires Global Market Report 2023 identifies the increasing vehicle production is expected to propel the growth of the airless tires market going forward. Vehicle production refers to manufacturing automobiles and light trucks or utility vehicles (including light-duty vans, pick-up trucks, and minivans), which are mass-produced identical models offered for sale to the public. Airless tires provide better puncture resistance, less maintenance, and increased vehicle safety. By removing the possibility of blowouts or flats and ensuring dependable performance on the road. Airless tires provide drivers with peace of mind. For instance, in May 2023, according to a report published by the European Automobile Manufacturers Association, a Belgium-based standards group of the automobile industry in the European Union, the global production of motor vehicles increased by 5.7% in 2022 to 85.4 million from 2021.

The global airless tires market is expected to grow from $1.07 billion in 2022 to $1.15 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The airless tires market is expected to reach $1.43 billion in 2027 at a CAGR of 5.7%.

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Major competitors in the airless tires market are Continental AG, Bridgestone Corporation, Michelin Group, The Goodyear Tire & Rubber Company, The Yokohama Rubber Co. Ltd., Giti Tire Pte. Ltd., Pirelli & C. S.p.A., Sumitomo Rubber Industries, Hankook Tire & Technology Co. Ltd.

A key trend in the airless tires market includes integration of technologies. Major companies operating in the airless tires market are focused on integrating their technologies and solutions into various vehicle tests to develop the future of mobility and strengthen their position in the market. For instance, in November 2021, Goodyear Tire & Rubber Company, a US-based tire manufacturing company, launched its airless tire that is being used (prototype airless tires) on a Tesla Model 3. These non-pneumatic tires from the company have successfully traveled at speeds of up to 55 mph on a Tesla test vehicle.

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The airless tires market is segmented -

1) By Type: Radial Tires, Bias Tires

2) By Material: Rubber, Plastic

3) By Vehicle: Military Vehicles, Commercial And Passenger Vehicles, All-Terrain Vehicles, Utility Vehicles, Two Wheelers

4) By Rim Size: Less Than 15 Inches, 15-20 Inches, More Than 20 Inches

5) By Sales Channel: OEM, Aftermarket

6) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the airless tires market.

The Business Research Company's "Global Airless Tires Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Airless Tires Market Include:
1. Executive Summary
2. Airless Tires Market Characteristic
3. Airless Tires Market Trends And Strategies
4. Airless Tires Market - Macro Economic Scenario
5. Airless Tires Market Size And Growth
……………
27. Airless Tires Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Airless Tires Market
29. Airless Tires Market Future Outlook And Potential Analysis
30. Appendix

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