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Airless Tires Market Size, Development Analysis, Key Trends, Growth Rate And Future Forecast (2024-2033)
Airless Tires Market Size
As per the report, the airless tires market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The airless tires market size is expected to see strong growth in the next few years. It will grow to $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
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Airless Tires Market Surges Amidst Rising Vehicle Production
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. Therefore, increasing vehicle production is driving the growth of the airless tires market.
Innovative Technologies Drive Advancements In Airless Tire Market
Integration of technologies is a key trend gaining popularity in the airless tires market. 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. A network of spokes maintains the wheel rigid enough to drive on, rather than air pressure keeping the tire taut and prepared. The system is extraordinary to see in action; unlike conventional tires, the wheels bend unnaturally.
The airless tires market covered in this report 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
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Major companies operating in the airless tires market report 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., Cheng Shin Rubber Industry Co. Ltd., Apollo Tyres Ltd., Kumho Tire Co. Inc., Cooper Tire & Rubber Company, Linglong Group Co. Ltd., Double Coin Holdings Ltd., CEAT Limited, Toyo Tire & Rubber Co. Ltd., Aeolus Tyre Co. Ltd., Guizhou Tyre Co. Ltd., Trelleborg Wheel Systems, Maxam Tire International Srl, GRI Tires, Harris Tire Co., Amerityre Corporation, Mitas AS, Tannus Ltd., Resilient Technologies LLC.
Contents of the report:
1. Executive Summary
2. Airless Tires Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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