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The airless tires market is likely to witness remarkable gains on account of growing demand for maintenance-free tires from the automotive sector. Customers nowadays are willing to spend more on good quality tires that require mere maintenance in a long run. This trend has compelled various automakers to introduce non-pneumatic tires in commercial and passenger vehicle variants.
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The airless tires market could surpass USD 45 million by 2026. These tires are highly durable and possess the ability to endure blowouts caused by road hazards, as well as explosions or gunfire possibly in military operations. Proliferating demand for durable tires that can easily maneuver through rough terrains could boost the demand for airless tires.
Airless tires are generally non-pneumatic tires that do not require air pressure. These tires are made up of closed-cell polyurethane spokes linked to the axle, acting as an energy-absorbing component in the tire while threading on rough terrains.
Airless tires are used in diverse vehicle segments such as passenger & commercial vehicles, military vehicles, terrain vehicles, utility vehicles, and two wheelers. Among these, in 2019, utility vehicles like lawn mowers and golf carts had accounted for over 25% of the total market revenue, and are currently predicted to observe a notable rise in adoption rates as more people become aware of its benefit.
In terms of materials, the airless tires market is bifurcated into rubber and plastic based variants. Out of these, plastic airless tires have managed to hold a dominating 65% share in the overall market, and is expected to maintain healthy growth over the predicted timeframe.
Tire companies like Bridgestone are diligently working on developing recycled plastic tires in order to commercialize them across the automotive sector. Besides its outstanding properties like recyclability and reduced weight could strengthen the product demand over the coming years.
Based on sales channels, the airless tires market is divided into aftermarket suppliers and OEMs. Estimates suggest that the aftermarket supplier segment is estimated to record a higher growth rate, registering around 7% growth over the forecasted period. These suppliers offer premium quality tires at affordable prices and even have a low tire replacement rate than OEMs.
LATAM airless tires market could experience momentous growth over the forthcoming years, Latin America is considered to be a lucrative ground for airless tire manufacturers and is expected to register a healthy growth of 5% by 2026. The region is known to have the most supportive trade policies that attract a massive chunk of foreign direct investments.
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Some Point from Table of Contents:
Chapter 6 Airless Tires Market, By Material
6.1 Airless tires industry share by material, 2019 & 2026
6.2 Rubber
6.2.1 Market estimates and forecast, 2016 - 2026
6.2.2 Market estimates and forecast, by region, 2016 - 2026
6.3 Plastic
6.3.1 Market estimates and forecast, 2016 - 2026
6.3.2 Market estimates and forecast, by region, 2016 - 2026
Chapter 7 Airless Tires Market, By Sales Channel
7.1 Airless tires industry share by sales channel, 2017 & 2026
7.2 OEM
7.2.1 Market estimates and forecast, 2016 - 2026
7.2.2 Market estimates and forecast, by region, 2016 - 2026
7.3 Aftermarket
7.3.1 Market estimates and forecast, 2016 - 2026
7.3.2 Market estimates and forecast, by region, 2016 - 2026
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