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Commercial Vehicle Run-flat Tire Inserts Market : Growth Opportunities Report 2024
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Some prominent participants in the global commercial vehicle run-flat tire inserts market include Hutchinson Industries Inc., RunFlat International, TAC Run Flat Tire Systems, Bulldog Direct Protective Systems Inc., Briscoe Technologies Lasco International Group, Mas Makin Metal Ltd., Terra Track, and RunFlat CBR.
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As per estimates by Transparency Market Research, the global commercial vehicle run-flat tire inserts market is expected to expand at a CAGR of 2.1% between 2017 and 2025. Progressing at this pace, the market which stood at US$308.1 mn in 2016 is predicted to be worth US$372.0 mn by 2025.
Military and Defense Application Segment to Remain Dominant through 2025
The global commercial vehicle run-flat tire inserts market has been studied on the basis of type, application, and geography in this report. By type, 20 inch holds dominance in the commercial vehicle run-flat tire inserts market as it has wide application area that is suitable for the majority of defense and military vehicles.
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The key application segments of the commercial vehicle run-flat tire inserts market include transportation and logistics, military and defense, agricultural, manufacturing, construction, and others. Military and defense application stood as the leading application segment in 2016, and the segment is predicted to hold on to its dominant position over the forecast period.
North America is the leading regional market for commercial vehicle run-flat tire inserts due to their higher adoption in several application areas, among which military and defense is the key one. Asia Pacific is expected to display the leading CAGR of 2.7% between 2017 and 2025.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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