Flexion Tires Market Analysis, Top Drivers, Key Players, Segmentation And Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Flexion Tires Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $15.27 billion In 2028 At A CAGR Of 5.8% :

The flexion tires market size has grown strongly in recent years. It will grow from $11.39 billion in 2023 to $12.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to textile industry growth, automotive interior applications, consumer goods manufacturing, furniture and furnishing sector, decorative coating demand.

The flexion tires market size is expected to see strong growth in the next few years. It will grow to $15.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to growing demand in packaging industry, expanding applications in electronics, rising demand for customization, medical and healthcare applications, sustainable flocking solutions. Major trends in the forecast period include advancements in adhesive technologies, innovations in flocking technology, environmentally friendly formulations, expansion in the electronics industry, medical and healthcare applications.

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Flexion Tires Market Major Segments
The flexion tires market covered in this report is segmented -

1) By Type: Summer Tires, Winter Tires, All-Season Tires
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Sales Channel: Orginal Equipment Manufacturer(OEM), Aftermarket
4) By Application: Harvesters, Tractors, Other Applications

Key Driver - Agricultural Growth Fuels Demand For Flexion Tires

The agriculture sector expansion is expected to propel the growth of the flexion tires market going forward. The agriculture sector is a sector of the economy that comprises plant and livestock farming, agricultural engineering and the manufacture of farming equipment, fertilizers and other farm-related items. Flexion tires play a vital role in modern agriculture by addressing key challenges, such as soil compaction, traction and load-carrying capacity and contribute to more efficient and sustainable farming practices, ultimately benefiting both farmers and the environment. For instance, in February 2023, according to the Economic Research Service, a US-based division of the US Department of Agriculture and a primary agency of the United States Federal Statistical System, in 2021, agricultural exports in the United States were valued at $177 billion, an 18% increase over 2020. Additionally, the imports increased by over 17% to $171 billion in 2021. Therefore, the agriculture sector expansion is driving the flexion tire market.

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Prominent Trend - Focus On Product Innovations To Drive The Revenues In The Market

Major companies operating in the flexion tires market are focusing on innovative products, with increased load capacity, to drive the revenues in the market. Load capacity refers to the maximum amount of weight or load that a vehicle can safely support without experiencing failure or damage For instance, in December 2021, Mitas Tires, a Chile-based manufacturer of flexion tires, launched unique and innovative two new High Capacity (HC) radial tires for the next wave of autonomous agricultural sprayers. The HC 1000 tire series introduces two novel NRO (Narrow Rim Option) sizes, the VF 650/65R38 and VF 750/60R46, designed to withstand high load capabilities and operating speeds. The innovative VF (very high flexion) structure provides obvious advantages, carrying up to 40% more load capacity with improved traction, ground protection and crop yields. The innovative NRO architecture also provides additional advantages to the newly developed VF tires designed for fitting on conventional rims, saving farmers even more money.

Flexion Tires Market Players
Major companies operating in the flexion tires market report are Continental AG, Bridgestone Corporation, Michelin Tyre PLC, Goodyear Tire & Rubber Company, Firestone Tire and Rubber Company, Sumitomo Rubber Industries Ltd., Pirelli & C. S.p.A., Toyo Tire Corporation, Trelleborg AB, Apollo Tyres Limited, Shandong Linglong Tyre Co. Ltd., Titan International Inc, Kumho Tire Co Inc, Nokian Tyres plc, Nexen Tire Corporation, J K Tyre & Industries Limited, Yokohama Rubber Company Limited, CEAT Limited, Balkrishna Industries Limited , Petlas Tire Corporation, Carlisle Tire & Wheel Co, Hercules Tire and Rubber Company, Nitto Tire U.S.A. Inc., Maxam Tire, GRI Tires, Techking Tires Ltd, Triangle Tyre Co, Double Coin Holdings Ltd., Kyoto Japan Tire Corporation Ltd, Cheng Shin Rubber Industry Co.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the flexion tires market in 2023. The regions covered in the flexion tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

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