Tubeless Tire Market Size, Share & Industry Analysis, By Vehicle Type (Radial Tires., Bias Tires.), By Type (Two Wheeler., Passenger Vehicle., Commercial Vehicle.) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
In a tubeless tire, the wheel's rim and tire form the sealed container to seal the air, and it acts as a tubeless tire. It is manufactured using a steel belt surrounded by resilient rubber, which is exaggerated with high-pressure air. Tubeless tires are comparatively more reliable and safe. It also makes the vehicles more fuel-efficient. Hence, the adoption of tubeless tires has increased rapidly in the past few years.
The increasing production of vehicles and enhanced reliability and safety offered by tubeless tires are some of the major factors driving the growth of the market. The easy puncture repair method and improvement in performance are expected to boost the market growth. However, the instability in the prices of raw materials and the increased demand for airless tires in some vehicles are expected to hamper the growth of the market. act
Key Market Driver -
The increased no. of accidents due to lack of safety precautions in vehicles and changed demographic trend are expected to drive the growth o the market.
Key Market Restraint -
the increased prices of raw materials such as fiber and composite metals are expected to hamper the growth of the market.
Market Segmentation:
The global tubeless tire market is segmented by vehicle type, by type, and geography. Based on vehicle type, the market is further sub-segmented into passenger cars, commercial vehicles, and two-wheelers. The passenger cars segment is expected to account for the largest market share in 2020. Factors such as long life span, ability to use liquid sealant for puncture repairs, slow air release after the puncture provide small distance travel are expected to drive the market growth. Based on type, the market is segmented into bias tubeless tires and radial tubeless tires. The radial tubeless tire segment is expected to hold the largest market share during the forecast period. Factors such as less vibration and reduced fuel consumption due to less rolling resistance caused are expected to drive the growth of the segment.
Key Players:
Major players operating in the global automotive bumpers market include the Goodyear tire & rubber company, Apollo Tyres Ltd., Michelin, Trelleborg AB, Bridgestone Corp., Madras Rubber Factory, Yokohama Rubber CO. Ltd., Ceat Tyres Ltd., Continental AG, Toyo Tire & Rubber Company, Cooper Tire & Rubber Company, KUMHO Tire Co., Inc., among others
Key Insights
- New Advancements in Tubeless Tire market.
- Number of Products, Key Countries, 2020
- New Product Launches, Key Players
Regional Analysis:
Geographically, the global tubeless tire market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific held the largest share of the market in 2020. This can be attributed to the increased sales of passenger vehicles equipped with tubeless tires and the rapid growth of the automotive industry in South Korea, India, and China. North America is expected to show steady growth in the market. The high penetration level of two-wheelers and passenger cars is expected to drive the demand for tubeless tires in this region. Europe is expected to show good growth in the market. Factors such as the presence of several key players in the region and the increasing sales of electric vehicles in the region are expected to drive market growth.
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Segmentation
ATTRIBUTES | DETAILS |
By Vehicle Type |
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By Type |
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By Geography |
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- Ongoing
- 2023
- 2019-2022
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