Market Overview
The Global Airless Tire Market is growing at a CAGR of 5.5% during the forecast period (2024-2031). Solid or non-pneumatic tires not supported by air pressure are airless tires.
They are often made using traditional plastic or rubber methods, although a 3D printing manufacturing procedure is also used today. The tires guarantee passenger safety by preventing accidents caused by blowouts, flat tires, etc. In addition, the market is anticipated to be driven by the rise in heavy commercial vehicles, including heavy-duty trucks and heavy construction equipment, due to urbanization and globalization.
Market Dynamics
Airless tires require less maintenance
The airless tire has a saw-toothed tread and appears to be pneumatic while being built of solid polyurethane. It performs similarly to an air-filled tire in bounce and load management but without the ongoing maintenance step of routinely adding air to the tire to prevent flats. The airless tire rolls more softly & smoothly and absorbs more shock than foam-filled tires because of its solid rubber construction. The airless tire can move over a pile of rocks, glass and nails without deflating because there is no tubing.
The growing regulations for tires create lucrative growth prospects for airless tire manufacturers
To improve vehicle efficiency, lessen the negative environmental consequences of conventional tires and enhance public knowledge of airless tires, governments and other regulatory organizations worldwide are establishing and proposing legislation and programs for labeling tires. For instance, a voluntary tire labeling system for passenger cars was introduced in Japan in 2010. South Korea likewise started enforcing required tire labeling laws in November 2016. To improve safety, promote fuel efficiency, reduce noise levels and empower consumers to make knowledgeable purchasing decisions, the European Parliament and European Council proposed the rule (EC) No. 1222/2009 for labeling tires in terms of critical factors, including fuel efficiency.
Market Segmentation Analysis
The global airless tires market is segmented based on vehicle, material, sales channel and region.
The rising global migration drives the growth of the off-road vehicle segment
Over the projection period, off-road vehicles are expected to dominate the market. Solid tires are used by off-road vehicles, particularly industrial and construction equipment like backhoes, forklifts, skid steer loaders, telehandlers, etc. In general, solid tires for this equipment are made to have minimal operational expenses in challenging working conditions.
Because they are produced from unique rubber compounds, solid tires for off-road equipment are also intended to last roughly three times longer than pneumatic tires. The tires are kept intact even when driving over debris-filled areas thanks to their tire tear strength, which is more than double that of ordinary pneumatic ones.
Market Geographical Share
The huge aftermarket owing to the large automotive industry in Asia-Pacific
Asia-Pacific is anticipated to lead the global market for airless tires. Considering how quickly the automobile sector is expanding in nations like China, India and Japan, the area boasts one of the largest automotive aftermarkets. It is possible to attribute the rising need for fuel-efficient technologies, industrial expansion and growing construction activity in the area to the increased demand for airless tires. In Asia-Pacific, there are many suppliers of raw materials, low labor prices and friendly government regulations in nations like Japan, China and South Korea.
Airless Tire Companies
The major global players include Michelin Group, Goodyear Tire & Rubber Co., Continental AG, Hankook Tire & Technology Group, Bridgestone Corporation, Trelleborg AG, GRI Tires, Amerityre Corporation, Tannus Ltd. and Sumitomo Rubber Industries Ltd.
Key Development
- On February 2020, during the annual conference of the American Trucking Associations' Technology and Maintenance (TMC) Council in Atlanta, Bridgestone unveiled the prototype version of an air-free commercial truck tire.
- On January 2020, in particular, for owners of commercial trucks, Bridgestone has created and is ready to offer huge airless tires that can sustain 5,000 pounds of weight on January 2020.
- The Unique Puncture-proof Tire System or Uptis, developed by Michelin and validated by General Motors, was the subject of a June 2019 agreement to introduce the tires on passenger vehicles as early as 2024.
The global airless tires market report would provide approximately 61 tables, 55 figures and 200 pages.
