Airless Tire Market Poised to Garner Maximum Revenues During by 2025
Market Overview:
Airless tires are also known as non-pneumatic tire. Airless tires are not supported by air pressure. Non-pneumatic tires are currently produced by recyclable plastic or rubber. Airless tires composed of closed-cell polyurethane foam are also made for bicycles and wheelchairs. These tires are used in some small vehicles and heavy equipment such as such as riding lawn mowers, backhoes, motorized golf carts. Also airless tires are required on sites such as building demolition, where risk of tire punctures is high. Global Airless tire Market is expected to grow in the forecasted period, in 2017 market size of the Airless tire was XX million and in 2025 is expected to reach at XX million with growing CAGR of XX%.
Market Dynamics:
Airless tires are eco-friendly in nature. Moreover, provision of benefits such as durability, puncture proof, and rugged applications will further strengthen the product penetration. Rising focus of governments on agricultural sector across the globe has resulted in increased demand for agricultural machinery, leading to increased production of airless tires. Manufacturers are focusing on overcoming the challenges associated to these tires such as vibration and noise by regular technological advancements.
However, excessive manufacturing cost coupled with low awareness about their benefits may hamper the non-pneumatic tires market growth over the forecast timeframe. Limited performance in case of friction, suspension, and high speed will further impact the airless tires market negatively.
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Market Players:
Airless Tire market hold some of the prominent players serving industries like Bridgestone, Goodyear Tire & Rubber Co., Hankook, Michelin, Resilient technologies, Sumitomo Rubber Industries and Toyo Tires.
Market Segmentation:
The report is based on market outlook and product scope. The market is segmented on the basis of Product, vehicle, tire size, material, sales channel and geography. The market for Airless Tire is driven by the growing demand for various different forms of applications globally. The rising demand for specialized tires such as airless tire from construction, mining, and agriculture machinery will drive the growth prospects for the global automotive airless radial tire market until the end of 2025. On the basis of region the market is segmented into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa (MEA).
Market segmented by product:
- Radial
- Bias
Market segmented by Vehicle:
- Military vehicle
- LVC
- HCV
- Terrain Vehicle
- Utility Vehicle
- Motorcycles
Market segmented by material:
- Rubber
- Plastic
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Market segmented on the basis of region:
- North America
• US
• Canada
• Mexico
- Europe
• UK
• Germany
• France
• Rest of Europe
- Asia-Pacific
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific
- Latin America
• Brazil
• Rest of Latin America
- Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• Rest of MEA
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