How Has The Airless Tires Market Size Evolved In Recent Years?
The airless tires market has seen considerable growth due to a variety of factors.
•The market size for airless tires has seen robust growth in the past few years. There is an anticipated growth from $1.21 billion in 2024 to $1.29 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%.
The growth witnessed in the historical period is thanks to military applications, the mining and industrial sector, agriculture machinery, advancements in space exploration technology, alongside their dependability and low maintenance requirements.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Airless Tires Market?
The airless tires market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of airless tires is projected to witness robust expansion in the upcoming years, growing to $1.66 billion by the year 2029 with a compound annual growth rate (CAGR) of 6.4%.
The reasons for this anticipated growth in the forecast period could be governmental policies, improvements in logistics and material handling, the drive for performance improvement, consumer desire for convenience, and progress in autonomous vehicle technology. Notable trends forecasted for this period include uptake in passenger vehicles, the use of 3D printing and manufacturing, incorporation in eco-friendly transportation solutions, retail availability combined with aftermarket demand, and improved traction and grip.
Which Key Drivers Are Propelling The Airless Tires Market's Growth?
The rise in vehicle manufacturing is projected to boost the expansion of the airless tires market. Vehicle manufacturing pertains to the production of cars and light trucks or utility vehicles (including light-duty vans, pick-up trucks, and minivans). These vehicles are mass-produced identical models made available for public purchase. Airless tires offer improved resistance to punctures, require less upkeep, and enhance vehicle safety. Blowouts or flats are effectively eliminated, providing a reliable performance while driving. This also gives drivers a sense of confidence. To illustrate, a report in May 2023 by the European Automobile Manufacturers Association, a Belgium-based automobile industry standards group in the European Union, indicated a 5.7% growth in global motor vehicle production in 2022, reaching 85.4 million from the previous year. Hence, the surge in vehicle manufacturing is helping propel the airless tires market's growth.
What Are The Key Segments Within The Global Airless Tires Market?
The airless tires market covered in this report is segmented –
1) By Type: Radial Tires, Bias Tires
2) By Material: Rubber, Plastic
3) By Vehicle: Military Vehicles, Commercial And Passenger Vehicles, All-Terrain Vehicles, Utility Vehicles, Two Wheelers
4) By Rim Size: Less Than 15 Inches, 15-20 Inches, More Than 20 Inches
5) By Sales Channel: OEM, After market
Subsegments:
1) By Radial Tires: Passenger Radial Tires, Light Truck Radial Tires, Heavy-Duty Radial Tires
2) By Bias Tires: Passenger Bias Tires, Light Truck Bias Tires, Heavy-Duty Bias Tires
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How Are New Trends Impacting The Size Of The Airless Tires Market?
Leading firms in the airless tire market are channeling their efforts into developing innovative products such as the airless radial tire to increase durability and eliminate puncture risks. An airless radial tire is uniquely designed without the need for air pressure. Its exceptional structure grants support and flexibility, increasing durability while minimizing puncture hazards. As an example, Michelin, a company based in France, launched the MICHELIN X Tweel airless radial tire for eCargo trikes in September 2022. This product, specifically created for eCargo trikes, enhances last-mile delivery by diminishing downtime owing to flat tires, and boosting safety standards. This groundbreaking development replaces conventional tire and wheel assemblies providing superior stability and handling features, completely negating the need for air pressure.
Who Are the Key Players in the Airless Tires Market?
Major companies operating in the airless tires market include:
• Bridgestone Corporation
• The Goodyear Tire & Rubber Company
• Continental AG
• MICHELIN
• Pirelli Tyre S.p.A
• Sumitomo Rubber Industries Ltd
• Hankook Tire Co. Ltd
• Yokohama Tire Corporation
• SciTech Industries
• Trelleborg AB
• Amerityre Corporation
• Toyo Tire & Rubber Co. Ltd
• GRI Tires
• Tannus Ltd
• Cooper Tire & Rubber Company
• General Motors
• Tesla Inc.
• Apollo Tyres Ltd
• Nokian Tyres plc
• Kumho Tire Co. Inc.
• Maxxis International
• MRF Limited
• Cheng Shin Rubber Ind. Co. Ltd.
• Falken Tire Corporation
• Bridgestone Americas Inc.
• Uniroyal Engineered Products LLC
• Dunlop Tires
• Firestone Tire and Rubber Company
• Michelin Group
• Goodyear Dunlop Tires Europe B.V.
What are the Regional Insights into the Airless Tires Market?
Asia-Pacific was the largest region in the airless tires market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the airless tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
