Airless Tires Market Growth or Demand Increase for what contain:
Airless tires are otherwise known as solid or non-pneumatic tires that are not supported by air pressure. They are generally produced conventionally with plastic or rubber, but these days 3D printing manufacturing process is also being employed. These tires prevent accidents from flat-tires, blowouts, etc., and ensure passenger safety. Moreover, the increase in the number of heavy commercial vehicles, such as heavy-duty trucks, and heavy construction equipment due to urbanization and globalization, is also expected to drive the market.
However, high capital investment for setting up new manufacturing facilities as well as volatile raw material prices might restrain the market growth. Limited performance of solid tires with respect to suspension and friction, coupled with heat dissipation issues, might also limit the market growth. Demand for airless/solid tires in the aftermarket from passenger vehicles as well as technological advancements involving advanced materials are expected to present considerable opportunities for market expansion. Source: https://www.mordorintelligence.com/industry-reports/global-airless-tires-market
Airless Tires Market CAGR Estimation:
Airless Tires market was valued at USD 54.40 Mn in 2023 and is expected to reach USD 80.19 Mn by 2030, at a CAGR of 7.6 % during the forecast period.
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Airless Tires Market Segmentation:
by Material
Rubber
Plastic
Rubber and plastic make up the two segments of the airless tire market. The market for airless tires was dominated by the rubber category. Tire technology has long been developed and refined by the rubber industry. Rubber’s behavior under varied situations is understood by manufacturers, who can therefore optimize the material’s performance for a variety of uses. Rubber has a major advantage over other materials in the early stages of airless tire development because of its established knowledge base. Rubber provides tires with outstanding qualities. It can withstand stretching and breaking under pressure because of its high tensile strength. Additionally, it has outstanding elasticity, which makes for a smoother ride by absorbing shocks and vibrations.
by Product
Radial
Bias
Radial and bias segments make up the market for airless tires. With a market share of more than 70% in the worldwide airless tire market, radial tires dominated the industry. Radial airless tires provide many advantages in terms of performance. With less rolling resistance, the radial design promotes better handling, more stability, and enhanced fuel efficiency. There is a greater variety of easily accessible radial airless tire options since manufacturers have a solid understanding of radial tire technology and its production methods. However, bias airless tires are useful in some situations. Improvements in manufacturing techniques and materials are anticipated to result in enhanced bias airless tire performance as airless tire technology develops further.
by Tire Size
<20 inches
21-25 inches
26-30 inches
31- 35 inches
>35 inches
The worldwide airless tire market is divided into five segments based on tire size: <20 inches, 21-25 inches, 26-30 inches, 31-35 inches, and >35 inches. The market is anticipated to be dominated by the 21–25 inch segment based on existing uses and advancements in airless tire technology. Early users of airless tire technology are frequently observed in specialized applications such as low-speed electric cars, construction equipment, and industrial vehicles. The 21–25-inch sector, which is well-suited for early adopter applications, maintained its dominant position with a share of over 38%. It is anticipated to maintain its leading position throughout the duration of the projection.
by Vehicle Type
Military Vehicles
PS/LT (Passenger& Light truck)
All-Terrain Vehicles
Utility Vehicles
Others
The market for airless tires is divided into several segments based on the type of vehicle, including military vehicles, truck and bus, utility vehicles, passenger and light truck, and others. Performance and dependability are given top priority in military vehicles under tough conditions. Because of their ability to reduce weight and puncture resistance, airless tires are a tactical benefit for military applications. In military drills, the airless tires are specifically made to avoid flattening and rupturing. In addition, the growing necessity for military vehicles to function in difficult terrain and soldiers’ increased vulnerability to danger due to tire failures are the causes thought to be propelling the expansion of the military and all-terrain vehicle markets. Cars and light trucks that are primarily utilized for private and light commercial transportation are included in the passenger and light truck category.
by Sales Channel
OEM
Aftermarkets
With more than 90% of the market share, the OEM segment leads the worldwide airless tire industry. The growing propensity of consumers towards airless tires due to their superior performance in the market is the element ascribed to the segment’s rise. The expansion of the OEMs segment is mostly dependent on the supply of safe driving conditions, increased strength, and superior service with lower maintenance. In an effort to bring down the cost of the product and draw in more customers, the makers are producing more airless tires. When an entire vehicle is designed with airless tires, OEMs have the chance to enhance performance and potentially save weight by designing and integrating airless tires from the ground up. Manufacturers may make sure new cars with airless tires fulfill their requirements
Airless Tires Market Overview:
Airless tires are also known as non-pneumatic tires or flat-free tires. It is a type of tire that does not rely on air pressure for support. They typically use strong, flexible materials like spokes made of composite materials or polyurethane to maintain their shape. The airless tires offer a promising alternative to traditional pneumatic tires, particularly for applications where puncture resistance and low maintenance are priorities. Its flexibility provides an increase in surface area of contact. They are beneficial for small vehicles like lawnmowers and golf carts because they are less likely to get punctured. They are also used on heavy equipment such as backhoes, which are required to operate on sites like building demolition.
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Airless Tires Market Growth or Demand in which regions:
In North America, the Airless Tires Market is experiencing significant growth driven by innovations in material sciences and increasing demand for durable and maintenance-free tire solutions. The United States and Canada are leading the adoption of airless tires, particularly in commercial and military vehicles, where reliability and performance are critical. Companies like Michelin and Bridgestone are pioneering advancements in this technology, catering to the region’s stringent safety standards and sustainability goals.
Airless Tires Market Scope and Methodology:
Research Framework: Utilizes primary and secondary research methodologies to gather qualitative and quantitative data from industry experts, stakeholders, and market players.
Data Collection: Includes surveys, interviews, and data mining techniques to compile market dynamics, trends, and competitive landscape.
Market Analysis: Conducts SWOT analysis, Porter’s Five Forces analysis, and PESTEL analysis to evaluate market drivers, challenges, and opportunities.
Forecasting: Projects market growth and trends based on historical data, current trends, and future developments in technology and consumer preferences.
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Airless Tires Market Key Players:
1. General Electric Company (US)
2. Cool Energy Inc.(US)
3. General Electric Co. (US)
4. Echogen Power Systems Inc. (US)
5. Promec Engineering (US)
6. Ormat Technologies (US)
Europe
1. Amec Foster Wheeler (UK) (Now part of Wood Plc)
2. Boustead International Heaters (UK)
3. Siemens AG (Germany)
4. ABB Ltd. (Switzerland)
Asia Pacific
1. Harbin Electric International Company Ltd (China)
2. Dongfang Electric Corporation (China)
3. China Energy Recovery (China)
4. Mitsubishi Hitachi Power Systems (Japan)
5. Mitsubishi Heavy Industries Ltd. (Japan)
6. Endotherm Ltd. (India)
7. Thermax Limited (India)
8. Forbes Marshall (India)
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Key questions answered in the Airless Tires Market are:
• What is Airless Tires Market ?
• What is the growth rate of the Airless Tires Market?
• Which are the factors expected to drive the Airless Tires market growth?
• What are the different segments of the Airless Tires Market?
• What growth strategies are the players considering to increase their presence in Airless Tires?
• What are the upcoming industry applications and trends for the Airless Tires Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Airless Tires Market?
• What major challenges could the Airless Tires Market face in the future?
• What segments are covered in the Airless Tires Market?
• Who are the leading companies and what are their portfolios in Airless Tires Market?
• What segments are covered in the Airless Tires Market?
• Who are the key players in the Airless Tires market?
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