Airless Tyres Market Outlook
According to the report by Expert Market Research (EMR), the global airless tyres market trends is projected to grow at a CAGR of 5% between 2023 and 2028. Aided by the increasing demand for innovative, reliable, and durable tyre technologies, coupled with the broadening applications of airless tyres in different industries, the market is expected to grow significantly by 2028.
Airless tyres, also known as non-pneumatic tyres (NPT), are a type of tyre that is not supported by air pressure. They are used on some small vehicles and heavy machinery, where the risk of puncture is high and the need to eliminate maintenance and downtime is critical. They play a crucial role in increasing vehicle efficiency, reducing maintenance needs, and enhancing overall vehicle performance.
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The escalating consumer preference for innovative vehicle technologies and robust tyres is a significant driver of the global airless tyres market growth. With the growing awareness of the advantages offered by airless tyres, including puncture resistance, durability, and reduced maintenance, there has been a significant shift towards their adoption, leading to a surge in demand for airless tyre-equipped vehicles.
In addition, the increasing trend of autonomous vehicles and electric vehicles has further augmented the popularity of airless tyres, thus increasing the airless tyres market demand. These tyre types are seen as an essential component in the future of mobility, being incorporated in next-generation vehicles to enhance efficiency and sustainability.
The expanding applications of airless tyres across various sectors are another vital factor propelling the airless tyres market development. In the heavy equipment industry, airless tyres are used due to their durability and puncture-resistant properties. They are also utilised in the military sector for their resilience and performance in harsh environments. The agriculture industry also benefits from airless tyres, where their use reduces the risk of tyre damage and increases operational efficiency. Thus, over the forecast period, the growing attention towards agricultural sector is expected to be a key driver for the airless tyres market.
Furthermore, the growing emphasis on improving vehicle safety and performance has led to an increased focus on airless tyres. With the rise of autonomous and electric vehicles and the increasing consumer demand for advanced, safer vehicles, airless tyres have emerged as a crucial component in the future of the automotive industry, thereby fuelling the airless tyres market expansion.
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Airless Tyres Market Segmentation
The market can be divided based on type, material, sales channel, vehicle type, and region.
Market Breakup by Type
Market Breakup by Material
Market Breakup by Sales Channel
Market Breakup by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Off-Road Vehicles
- Two Wheelers
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global airless tyres companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- The Goodyear Tyre & Rubber Company.
- Bridgestone Corporation
- Michelin North America, Inc.,
- Toyo Tire Corporation
- Continental AG
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