In terms of the materials segment, the overall airless tires market is bifurcated into rubber and plastics based airless tires. Among these, plastics account for a majority of the industry share, representing approximately 65% of the total market size. The segment is further anticipated to proliferate at a significant rate through the forecast timeframe.

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The projected growth can be attributed to increasing initiatives from companies such as Bridgestone to manufacture tires from recycled plastic and commercialize the subsequent airless tires for a number of motor vehicles. In addition, their recyclability and reduced weight are a some of the important factors that are further expected to expand their segment share in the airless tires market landscape in coming years.

With respect to product, airless tires are divided into bias and radial segments. The radial tire segment is projected to expand at a rapid rate due to rising demand from electric, hybrid, as well as other vehicles.

Radial tires also help in decreasing wear and tear that happens due to the extreme torque encountered in the utility vehicles. This would further increase the deployment of radial tires across vehicles in the projected time period.

Utility vehicles, specifically, are observing immense growth in their demand with the vehicles accounting for over 25% of the overall industry share in 2019. Lawn mowers and golf carts are some of the utility vehicles that have been witnessing distinguished growth in their adoption in recent years. The global airless tires market size is set to exceed a valuation of $45 million through 2026.

Latin America airless tires market is projected to observe a growth rate of approximately 5% across the forecast timespan. This growth rate can be attributed to a number of favorable trade policies and foreign direct investment inflows, which are actively helping the growth of overall market share in the region.

The market is developing rapidly in the region and is anticipated to continue to witness a prominent expansion rate in the coming time with the commercialization of commercial and passenger vehicles airless tires as well as other key technology interventions in the automotive sector.

The competitive landscape of the airless tires market is inclusive of players such as Sumitomo Rubber Industries, Goodyear Tire & Rubber Corporation, Michelin Group, and Bridgestone Corporation among others.

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Data Tables

TABLE 1.    Airless tires industry 360° synopsis, 2016 - 2026

TABLE 2.    Airless tires market volume and revenue, 2016 - 2026, (Units) (USD Thousand)

TABLE 3.    Airless tires industry volume by product, 2016 - 2026 (Units)

TABLE 4.    Airless tires industry revenue by product, 2016 - 2026 (USD Thousand)

TABLE 5.    Airless tires market volume by vehicle, 2016 - 2026 (Units)

TABLE 6.    Airless tires industry revenue by vehicle, 2016 - 2026 (USD Thousand)

TABLE 7.    Airless tires industry volume by material, 2016 - 2026 (Units)

TABLE 8.    Airless tires industry revenue by material, 2016 - 2026 (USD Thousand)

TABLE 9.    Airless tires industry volume by sales channel, 2016 - 2026 (Units)

TABLE 10.    Airless tires industry revenue by sales channel, 2016 - 2026 (USD Thousand)

TABLE 11.    Airless tires industry volume by region, 2016 - 2026 (Units)

TABLE 12.    Airless tires market revenue by region, 2016 - 2026 (USD Thousand)

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