Airless Tire Market

Global Airless Tire Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Material (Rubber and Plastic), By Vehicle Type (Military Vehicles, Passenger & Commercial Vehicles, All-terrain Vehicles, Utility Vehicles, and Two-Wheelers), By Sales Channel (OE and Aftermarket), By Rim Size (Less than 15 Inches, 15 to 20 Inches, and More than 20 Inches), and Region (North America, Europe, Asia-Pacific, and Rest of the World)

Automobile & Transportation | January 2024 | Report ID: EMR00543 | Pages: 301

The global airless tire market was valued at USD 52.41 billion in 2023 and is estimated to reach approximately USD 88.27 billion by 2032, at a CAGR of 5.9% from 2024 to 2032.

Offering a radical break from conventional pneumatic tires, the airless tire market signifies a fundamental shift in the automotive business. Airless tires are designed to minimize the possibility of blowouts and punctures, resulting in increased longevity and lower upkeep expenses. Utilizing cutting-edge materials and design, these tires are inventive and provide a durable and long-lasting solution for a range of vehicles, including cars, trucks, and industrial machines. The airless tire industry is growing as a promising and disruptive technology, signaling a new age in tire technology and mobility solutions. It has the potential to completely change the driving experience by improving safety and sustainability.

 

 

AIRLESS TIRE MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

52.41 Bn

Projected Market Value (2032)

88.27 Bn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Material, By Vehicle Type, By Sales Channel, By Rim Size, & Region

Segments Covered

By Material, By Vehicle Type, By Sales Channel, By Rim Size, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Airless Tire Market Dynamics

The need for these cutting-edge tires has been fueled by growing worries about blowouts, punctures, and environmental sustainability. The market is expanding due to developments in material science and tire design as well as an increasing emphasis on lowering maintenance costs. Because of their better safety features and increased durability, airless tires are becoming more and more popular in the automotive and industrial sectors. Moreover, an increase in R&D endeavors is cultivating ongoing innovation, hence exacerbating market dynamics.

 

Global Airless Tire Market Drivers

  • Urban Mobility Solutions

The growing need for dependable, low-maintenance options for electric scooters, bicycles, and other small electric vehicles navigating urban environments is propelling the development of airless tires. Airless tires offer a resilient and puncture-proof substitute, guaranteeing the security and effectiveness of city mobility. These tires provide a robust solution that meets the changing needs of urban commuters and helps to establish cleaner, more effective transportation networks in densely populated areas, in line with the growing emphasis on eco-friendly and sustainable modes of mobility.

  • Innovations in Material Science

Modern materials like elastomers and high-performance composites make it possible to create airless tires that are incredibly durable and strong. By addressing important issues like weight, rolling resistance, and heat dissipation, these advances help to increase tire economy as a whole. The market for airless tires benefits from advances in material science that push the envelope of what is possible, spurring the creation of more advanced and high-performing tire solutions for a variety of uses in the automotive and industrial sectors.

 

Restraints:

  • High Initial Costs

The initial outlay needed to acquire airless tire technology can be exorbitant when compared to regular pneumatic tires, especially in countries where costs are tight. The financial barrier has the potential to deter consumers and businesses from using the technology, hence impeding its widespread adoption across many applications. The initial cost of airless tires is a barrier, delaying their wider adoption in industries where cost is a major factor in decision-making. This is true even though there are long-term benefits in lower maintenance costs.

  • Challenges in Mass Production

Complex manufacturing needs and related expenses are encountered when production processes are scaled up. Overcoming technological obstacles and streamlining manufacturing workflows are essential to simplifying the mass production of airless tires. These difficulties may limit the availability of airless tires and perhaps reduce their overall cost competitiveness, impeding their smooth introduction into mainstream markets. To fully realize the potential of airless tire technology and ensure efficient, cost-effective manufacture that can fulfill demand across a variety of automotive and industrial applications, it is imperative to address these production problems.

 

Opportunities:

  • Off-Road and Industrial Applications

Heavy-duty machinery, construction equipment, and off-road vehicles are good fits for these tires because of their durable design and resistance to punctures. Airless tires provide increased durability in rough terrain where standard tires could be more easily damaged, reducing downtime and maintenance expenses. The longevity and dependability of airless tires can greatly increase operational efficiency and contribute to the general safety and productivity of off-road and industrial vehicles operating in difficult and harsh environments, which opens up new opportunities for the construction, mining, and agricultural industries.

  • Integration with Autonomous Vehicles

The dependability and low maintenance characteristics of airless tires perfectly match the requirements of self-driving automobiles and trucks as autonomous technology develops. Puncture-proof structure lowers the possibility of unplanned malfunctions and increases autonomous fleet reliability and safety. Airless tires enhance the overall performance of self-driving cars and are a reliable solution that goes well with the rapidly changing field of intelligent and self-driving transportation because they require less upkeep.

 

Segment Overview

  • By Material

Based on material, the global airless tire market is divided into rubber and plastic. The plastic category dominates the market with the largest revenue share in 2023. Plastic airless tires are used in situations where weight reduction and particular performance characteristics are important, like in specialized industrial equipment or lightweight electric cars. Rubber airless tires are widely used in commercial and consumer automobiles because they are dependable and long-lasting under a variety of operating circumstances.

  • By Vehicle Type

Based on the vehicle type, the global airless tire market is categorized into military vehicles, passenger & commercial vehicles, all-terrain vehicles, utility vehicles, and two-wheelers. The passenger & commercial vehicles category leads the global airless tire market with the largest revenue share in 2023. Traditional vehicles, trucks, and vans for both private and business use are included in this category. This market segment's airless tires seek to offer a dependable and low-maintenance option for regular commuting and business transportation. Military vehicle airless tires are made to specifically satisfy the needs of defense applications. They increase the operational efficacy of military fleets by providing improved resilience, durability, and dependability in difficult environments. Heavy-duty and durable airless tires are beneficial for utility vehicles, such as those utilized in construction, agriculture, and other industrial environments.

  • By Sales Channel

Based on sales channels, the global airless tire market is segmented into OE and aftermarket. The aftermarket segment dominates the airless tire market. Aftermarket airless tires provide customers the option to embrace the technology after they initially purchase a vehicle. They can be installed as an upgrade or as a replacement for conventional pneumatic tires. During the manufacturing process, automakers receive direct supply of airless tires that are integrated into the original equipment to be installed on new cars.

  • By Rim Size

Based on rim size, the global airless tire market is divided into less than 15 inches, 15 to 20 inches, and more than 20 inches. The 15 to 20 inches category dominates the market with the largest revenue share in 2023. This group often includes mid-sized to bigger passenger cars as well as certain off-road and utility vehicles. It is suitable for a wide range of uses, such as light industrial and daily commuting. Wheel diameters larger than twenty inches are common on trucks, SUVs, and some military or commercial vehicles. Smaller vehicles like bicycles, scooters, and even compact cars with smaller wheel sizes are usually included in the less than 15 inches group.

 

Global Airless Tire Market Overview by Region

The global airless tire market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2023. The need for airless tires has been spurred by the region's thriving automobile industry, rising urbanization, and growing emphasis on efficient and sustainable transportation options. The dominance of the region is also attributed to the existence of significant market participants, continuous technical breakthroughs, and encouraging government programs encouraging innovation in the automotive sector. The Asia-Pacific airless tire market is expanding due to growing knowledge of its advantages, which include lower maintenance costs and increased safety.

Throughout the forecast period, North America is anticipated to post a significant CAGR. A thriving automotive sector, expanding R&D expenditures, and a growing need for creative and environmentally friendly transportation options are some of the reasons for this expansion. The adoption of airless tires is anticipated to be fueled by the region's emphasis on technology improvements as well as a sizable customer base that places a high value on dependability and safety.

 

 

Global Airless Tire Market Competitive Landscape

In the global airless tire market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global airless tire market include,

  • Ameritire Corporation
  • Bridgestone Corporation
  • Continental AG
  • Hankook Tire & Technology Co., Ltd.
  • Michelin
  • Sumitomo Rubber Industries, Ltd.
  • The Goodyear Tire & Rubber Company
  • Toyo Tire Corporation
  • The Yokohama Rubber Co., Ltd.
  • Trelleborg, and various others.

 

Global Airless Tire Market Recent Developments

  • In August 2023, Hankook's i-Flex airless tire is upending conventional wisdom in tire construction.
  • In October 2022, Shares of Galileo Wheel Ltd., an Israeli startup creating innovative structural pneumatic and airless tires, have been purchased by Marubeni Corporation. With its airless feature and increased ground contact above regular tires, Galileo's own "Cup Wheel" brand offers superior traction*1 and increased efficiency. Additionally, they lessen overall soil degradation and soil compaction*2. Galileo has already begun selling tires for equipment used in center pivot irrigation.

 

Scope of the Global Airless Tire Market Report

Airless Tire Market Report Segmentation

ATTRIBUTE

DETAILS

By Material

  • Rubber
  • Plastic

By Vehicle Type

  • Military Vehicles
  • Passenger & Commercial Vehicles
  • All-terrain Vehicles
  • Utility Vehicles
  • Two-Wheelers

 

By Sales Channel

  • OE
  • Aftermarket

By Rim Size

  • Less than 15 Inches
  • 15 to 20 Inches
  • More than 20 Inches

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Airless Tire Market Size and Forecast: To identify and estimate the market size for the global airless tire market segmented by material, by vehicle type, by sales channel, by rim size, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of airless tire between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global airless tire market
  • Market Influencing Factors: To find out the factors which are affecting the sales of airless tire among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global airless tire market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

 

Intended Audience

  • Automotive Manufacturers
  • Aftermarket Suppliers
  • Government and Regulatory Bodies
  • Research and Development Professionals
  • Automotive Industry Associations

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, The airless tire market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
According to airless tire market research, the market is expected to grow at a CAGR of ~5.9% over the coming years.
North America is expected to register the highest CAGR during 2024 - 2032.
Asia-Pacific held the largest share in 2023.
The major players operating in the global airless tire market include Ameritire Corporation, Bridgestone Corporation, Continental AG, Hankook Tire & Technology Co., Ltd., Michelin, Sumitomo Rubber Industries, Ltd., The Goodyear Tire & Rubber Company, Toyo Tire Corporation, The Yokohama Rubber Co., Ltd, Trelleborg, and various others.