Tubeless Tire Market Is Expected To Grow At A CAGR Of 6.2% By 2023

Market Highlights:
Over the last decade, the tubeless tire has gained an important role in automobile manufacturing. There has been a drastic change in the need and preferences of automotive users for installation of tubeless tires. Owing to these factors, the global tubeless tire market has held a rapid pace in the global market. The rise in preference of tubeless tires, is one of the major driving factors. The excellent mechanical properties and functions have also boosted the demand across the globe. Tubeless tires are expecting major growth in the coming years due to the increasing number of vehicles and other drivers such as more comfort as compared to conventional tires, better bumper absorption and others. Moreover, government initiatives towards vehicles safety and road accidents, has increased the demand for tubeless tires.

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Key Players:
We recognize the key players in the global tubeless tire market as are Bridgestone Corporation (Japan), The Goodyear Tyre & Rubber Company (U.S.), Continental AG (Germany), MICHELIN (France), Pirelli Tyre S.p.A. (Italy), Sumitomo Rubber Industries, Ltd. (Japan), Hankook Tire Co. Ltd. (South Korea), Yokohama Tire Corporation (Japan), Toyo Tire & Rubber Co. Ltd. (Japan), and CEAT Ltd (India).

Regional Analysis:
The global tubeless tire market by region has been segmented into North America, Europe, Asia-Pacific and Rest of the World. Among the stated regions, Asia-Pacific region is expected to be the largest market of tubeless tire market during the forecast period due to rise in the vehicle production in countries such as China, Japan, and South Korea. Moreover, increase in passenger cars and high adoption in Asia-Pacific, are expected to drive the growth of the market. The other factors that are responsible for the growth of the market in APAC are rise in the vehicle life span, and increase in miles travelled by a vehicle. North America is the second leading market in terms of revenue followed by Europe.

Scope of the Report:
This study provides an overview of the global tubeless tire market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive tubeless tire market by its tire type, by vehicle type, by distribution channel and by region.

By Tire Type
• Radial
• Bias

By Vehicle Type
• Passenger car
• Commercial Vehicles
• Others

By Distribution Channel
• OEM
• Aftermarket

By Region
• North America
• Europe
• Asia Pacific
• Rest of the World

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This release was published on openPR.