Global Airless Tires Market Projected to Reach $1.43 Billion by 2027, Growing at a CAGR of 5.7%

The Business Research Company’s Airless Tires Global Market Report 2023 – Market Size, Trends, And Forecast 2023-2027

LONDON, GREATER LONDON, UK, October 30, 2023 /EINPresswire.com/ -- The global airless tires market is anticipated to witness steady growth, with an expected rise from $1.07 billion in 2022 to $1.15 billion in 2023, reflecting a commendable compound annual growth rate (CAGR) of 6.8%. Despite the complex geopolitical landscape resulting from the Russia-Ukraine conflict and the ongoing challenges posed by the COVID-19 pandemic, the market is projected to achieve a valuation of $1.43 billion by 2027. This growth trajectory is primarily driven by the increasing vehicle production, leading to heightened demand for reliable and low-maintenance tire solutions for various vehicle types.

Market Segmentation and Key Players
• Type: Radial Tires, Bias Tires
• Material: Rubber, Plastic
• Vehicle: Military Vehicles, Commercial And Passenger Vehicles, All-Terrain Vehicles, Utility Vehicles, Two Wheelers
• Rim Size: Less Than 15 Inches, 15-20 Inches, More Than 20 Inches
• Sales Channel: OEM, Aftermarket

Leading market players such as Bridgestone Corporation, Michelin Group, and The Goodyear Tire & Rubber Company are actively involved in integrating advanced technologies and expanding their market presence to cater to the evolving demands of the global airless tires market.

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Emerging Trend: Integration of Advanced Technologies Enhancing Tire Performance

The integration of advanced technologies represents a key trend in the airless tires market, exemplified by Goodyear Tire & Rubber Company's launch of its prototype airless tires for use on a Tesla Model 3. These innovative non-pneumatic tires, equipped with a network of spokes, demonstrate exceptional rigidity and durability, ensuring smooth and reliable performance even at high speeds. The unique design of these airless tires eliminates the need for air pressure, offering a revolutionary approach to tire design and functionality.

Geographical Insights: Asia-Pacific Leads, Demonstrating Rapid Growth Potential
Asia-Pacific emerged as the largest region in the airless tires market in 2022, supported by robust technological advancements and a burgeoning automotive industry. Furthermore, the region is expected to witness significant growth in the forecast period, driven by increasing investments in research and development activities and a growing focus on sustainable mobility solutions. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities across key geographical segments.

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Airless Tires Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Airless Tires Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on airless tires market size, airless tires market drivers and trends, airless tires market major players, competitors' revenues, market positioning, and airless tires market growth across geographies. The airless tires market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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