Airless Tire Market Size 2022-27: Compagnie Générale des Établissements Michelin SCA), Bridgestone Corporation, Goodyear Tire & Rubber Corporation, Continental AG, Amerityre Corporation

According to MarkNtel Advisors study the Global Airless Tires Market is projected to grow at a CAGR of around 7% during the forecast period, i.e., 2022-27.

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Key Findings of the Study: Airless Tire market

Key Driver: Steadily Growing Demand for Maintenance-free Tires

Airless tires don't go flat is the prime aspect that has infused their demand worldwide and positively impacted the growth of the Global Airless Tires Market. Air loss failures caused by punctures or road hazards, along with the need for a spare tire for either changing or repairing, have equally contributed to the demand for airless tires. Additionally, the composition of flexible plastics in these tires has significantly improved their overall strength to absorb road bumps. It is another crucial aspect that has surged the demand for maintenance-free tires in recent years, which, in turn, would significantly contribute to the growth of the Global Airless Tires Market during 2022-27.

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.

For more detailed information about the Airless Tire market report, click here – https://www.marknteladvisors.com/research-library/global-airless-tire-market.html

Scope of the Report and Airless Tire Market Segmentation:

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”

Here, Radial Airless Tires attained a significant market share, owing primarily to their increasing popularity due to their higher efficiency and lower fuel consumption properties than bias tires.

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.

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