Airless Tires Market Forecast: Revenue Growth of 7.6% Expected, Reaching USD 80.19 Mn by 2030

Airless Tires Market Asia-Pacific region emerges as a hotspot for market growth

Airless Tires Market Overview:

In a groundbreaking development for the automotive industry, airless tires are poised to reshape the future of mobility. Valued at USD 54.40 million in 2023, the global airless tires market is projected to grow at a robust CAGR of 7.6%, reaching approximately USD 80.19 million by 2030. This growth trajectory underscores a transformative shift towards puncture-proof tires that promise enhanced durability and reduced maintenance costs across various vehicle types.

Airless tires, designed to operate without traditional air pressure, offer a host of advantages over conventional pneumatic tires. Initially adopted in bicycles, military vehicles, and commercial fleets, these innovative tires are now eyeing entry into the passenger vehicle segment. Companies such as Michelin, Bridgestone Corporation, and Hankook Tire & Technology lead the charge in this market, leveraging advancements in non-pneumatic tire technology to meet evolving consumer demands for efficiency and sustainability. One of the key drivers propelling the market forward is the surge in electric vehicle adoption. Airless tires, known for their lower rolling resistance, contribute significantly to increased battery efficiency, aligning perfectly with the automotive industry's shift towards cleaner energy solutions. However, challenges such as noise levels and initial high costs remain hurdles that manufacturers are actively addressing through ongoing research and development initiatives.

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Airless Tires Market Scope and Methodology:

This report aims to deliver a thorough understanding of the Airless Tires market, emphasizing market-centric strategies. It identifies key trends, growth drivers, challenges, and potential opportunities. Data is collected through both primary and secondary research methods. Primary data is gathered from interviews and surveys with key industry stakeholders such as manufacturers, suppliers, distributors, customers, and experts. Secondary data is sourced from industry reports, market analyses, corporate websites, annual reports, trade journals, government publications, and databases.

The report offers a detailed analysis of the business strategies of top companies, including partnerships, mergers, acquisitions, and collaborations. A SWOT analysis evaluates the market position of these companies, highlighting strengths, weaknesses, opportunities, and threats. The Airless Tires market is examined using feasibility studies, investment return analyses, and Porter's Five Forces framework. Global and regional Airless Tires market sizes are calculated using a bottom-up approach.

Airless Tires Market Regional Insights:

The Regional Analysis section offers an overview of the current state of the Airless Tires market in each participating country. Local perspectives are vital due to the complex nature of the Airless Tires industry. The market is divided into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Each region's market size, growth rate, import and export details, and other specifics are examined in detail.

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Market Segmentation:
Discover how the Airless Tires market is segmented and gain insights into each segment's performance and growth potential.

by Material

Rubber
Plastic

by Vehicle Type

Military Vehicles
Passenger and Commercial Vehicle
All-Terrain Vehicle
Utility Vehicle
Two Wheelers

by Sales Channel

OEM
Aftermarkets

The commercial vehicle category is expected to develop significantly throughout the forecast period, led by increased demand for puncture-proof tires. A significant example of this trend is Goodyear Tire & Rubber Company's announcement in 2023, which focuses on the creation and testing of airless tires for autonomous delivery robots. This novel technique emphasizes the growing use of airless tires in commercial settings, highlighting the industry's significant growth potential.

Market Key Players:
Identify the leading companies and their portfolios in the Airless Tires market.

1. Goodyear Tire and Rubber Company (US)
2. CST,(US)
3. Marathon Industries inc (US)
4. Cooper Tire (U.S.)
5. McLaren Industries (US)
6. Amerityre Corporation (U.S.)
7. Yokohama Tire Corporation (US)
8. Evolution Wheel (Canada)
9. Sunitomo Rubber Industries (Japan)
10. Michelin (France)
11. Continental Corporation (Germany)
12. Trelleborg AG (Sweden)
13. GRI Tires (India)
14. Tannus Ltd (Australia)
15. SciTech Industries (Australia)

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Key questions answered in the Airless Tires Market include:

• Who are the leading companies and what are their portfolios in the Airless Tires Market?
• What segments are covered in the Airless Tires Market?
• Who are the key players in the Airless Tires market?
• Which application holds the highest potential in the Airless Tires market?
• What are the key challenges and opportunities in the Airless Tires market?
• What is Airless Tires?
• What was the Airless Tires market size in 2023?
• What will be the CAGR at which the Airless Tires market will grow?
• What is the growth rate of the Airless Tires Market?
• Which factors are expected to drive the Airless Tires market growth?
• What are the different segments of the Airless Tires Market?
• What growth strategies are players considering to increase their presence in Airless Tires?
• What are the upcoming industry applications and trends for the Airless Tires Market?
• What recent industry trends can be implemented to generate additional revenue streams for the Airless Tires Market?

Key Offerings:

• Historical Market Size and Competitive Landscape (2018 to 2022)
• Historical Pricing and Price Trends by Region (2018 to 2022)
• Market Size, Share, and Forecast by Different Segments (2024-2030)
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - Detailed Analysis by Segment and Sub-Segment by Region
• Competitive Landscape - Profiles of Key Players by Region from a Strategic Perspective
• Competitive Landscape - Market Leaders, Market Followers, Regional Players
• Competitive Benchmarking of Key Players by Region
• PESTLE Analysis
• PORTER's Analysis
• Value Chain and Supply Chain Analysis
• Legal Aspects of Business by Region
• Lucrative Business Opportunities with SWOT Analysis
• Recommendations

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