Global Quick Overview of the Airless Tire Market Analysis
The Global Airless Tire Market Analysis, research report provides an in-depth market study with qualitative and quantitative research of the continuing industry trends, opportunities, growth areas, drivers, and challenges, which would enable stakeholders to align their market strategies according to the present & future market dynamics.
Detailed Analysis of Airless Tire Industry (2022-27): Reveals Further Growth &Market Expansion
According to the most recent study, the Global Airless Tire Market is projected to grow at a CAGR of around 7% during the forecast period, i.e., 2022-27. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, regional landscape, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2022-27.
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Growth Opportunity: Surging Demand for Electric Vehicles
Due to the growing crisis of fossil fuels, the automotive sector has been shifting toward Electric Vehicles (EVs) over the last few years. Due to this, the global airless tires market is likely to grow significantly by the perpetual demand for EVs in the forthcoming years. The added advantages of airless tires, such as puncture resistance, reduced overall vehicle weight, etc., would positively impact the global market. Also, leading key players in the EV industry like Toyota Group, Tesla Inc., etc., have shown major concerns for vehicle weight reduction. Therefore, these factors cite that the demand for airless tires would grow majorly for EVs in the years to come.
Airless Tire Market Segmentation Analysis
-By Vehicle Type
- Two-Wheelers
- Passenger Cars
- Commercial Vehicles
- Off Road Vehicles
- Military Vehicles
-By Material
- Rubber
- Plastic
-By Demand Type
- OEM
- Replacement
-By Tire Type
- Radial
- Bias
-By Rim Size
- Up to 12”
- 1” to 15”
- 1” to 18”
- 1” to 22”
- Above 22”
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Geographical Analysis:
-By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
Of all regions globally, North America has witnessed significant market expansion in the past few years, mainly due to the launch of airless tire models for OTR vehicles by market players, such as Michelin, Bridgestone Corporation, & Goodyear. Besides, ongoing collaborations among automotive OEMs & tire manufacturers for testing airless tires in Electric Vehicles (EVs) and military vehicles, coupled with increasing government inclination toward surging the adoption of EVs among customers, shall also bolster the regional market growth. The ever-increasing vehicle production, owing to burgeoning consumer requirements, along with the use of recyclable materials in tires, to reduce carbon emissions are also driving the regional market.
Key Players and Competitive Strategies in the Airless Tire Market
The report provides a study that looks at the requirements for manufacturing and processing, project expenses, finance, and economics, as well as projected profit margins and returns on investment. This also helps in identifying the major market players in the market such as:
- Compagnie Générale des Établissements Michelin SCA)
- Bridgestone Corporation
- Goodyear Tire & Rubber Corporation
- Continental AG
- Amerityre Corporation
- Hankook Tire & Technology Co., Ltd.
- Sumitomo Rubber Industries, Ltd.
- Toyo Tire Corporation
- The Yokohama Rubber Co., Ltd.
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Key Report Highlights
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the globe?
- How has the industry been evolving in terms of geography and product adoption?
- How has the competition been shaping up across various regions?
- How have buying behaviour, customer inclination, and expectations from product manufacturers been evolving during 2022-27?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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