Tubeless Tire Industry Valued $211.5 Billion With Growth Rate Of 7.15% By 2023: Global Market Size, Share, Trends, And Key Country Analysis Report

“”Tubeless Tire Market””
Tubeless Tire Market reaching $211.5 Billion in 2023 at a CAGR of 7.15%, according to latest report published on Global Tubeless Tire Market 2018. This report provides in-depth analysis of Tubeless Tire Industry by Tire Type (Radial and Bias), Vehicle Type (Passenger car, commercial Vehicles, and Others), by Distribution Channel (OEM and Aftermarket), and by Regions.

The report for Global Tubeless Tire Market comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.

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Tubeless Tire Key Players Competitive Landscape Analysis:

The key players in Tubeless Tire market are Bridgestone Corporation (Japan), The Goodyear Tyre & Rubber Company (U.S.), Madras Rubber Factory (MRF) Limited (India), CEAT Tyres ltd. (India), Continental Corporation (Germany), Michelin (France), Pirelli & C. S.p.A (Italy), Yokohama Tire Corporation  (U.S.), Toyo Tire & Rubber Co., Ltd. (Japan) and Cooper Tire & Rubber Company (U.S.).

Market Overview:

A tubeless tire refers to an inflated tire which does not require any inner tube. The tubeless tire have molded rim which inserts air pressure inside the tire so as to seal the flanges of the wheel rim. The traditional design of a tire required an inner tube, which did not sustain for long, but tubeless tire does not require any inner tube. This makes the tubeless tire safer than the traditional tire. The tire and the rim in the tubeless tire form an airtight seal, which exerts a pressure and does not allow the tire to puncture easily.

The global tubeless tire market is a very dynamic market and is expected to witness high growth over the forecast period. The market is driven by various factors such as Growth in automotive industry in developing countries, Implementation of Stringent Vehicular Emission & Fuel Economy Norms, Increase in Production of Vehicles and rising Demand for Radial Tires. The major demand for radial tires has been witnessed in the truck and bus segment due to improved road infrastructure and the introduction of fuel-efficient products in the automobile industry. Furthermore, although tire production in the passenger car segment is already completely radialized, the number of radial tires in various segments of the market is expected to increase. The automotive market of China has experienced increased growth, which will drive the automotive technology for tubeless tires. According to the U.S. Department of Transportation, the average age of all light vehicles in operation was 11.4 years in 2014. Increasing numbers of vehicles on the road, builds a new business pipeline for the aftermarket, thereby driving the growth of the market.

The tubeless tire market has various restraints that hinder the market growth such as Fluctuation in Raw Material Cost and Huge Capital Requirement to set up new Manufacturing Facility.

Segmentation:

On basis of tire type, the market has been segmented as radial and bias. Amongst this, radial tires is segment accounted for the largest market share in 2016. Radial tubeless tires have various advantages they run cooler, and enhances ride quality. They also come with rigid construction, longer tread life, wider footprint, and provide more traction between tire & road surface. The growth of radial tires is also being driven by the rise in application of radial tire in two wheelers, passenger cars and light commercial vehicles.

Regional Analysis:

Asia-Pacific region is expected to be the largest market of tubeless tire market during the forecast period.  Asia Pacific has the largest automotive tubeless tire market, owing to rise in automotive industry in countries such as China, Japan, and South Korea. The increase in the penetration level of passenger cars and two wheelers in the region, is boosting the demand for tubeless tires. The increase in sales of the automobiles in the region can be attributed to factors such as increasing per capita income, increased infrastructure spending, attractive FDI from governments and economic production cost. Asia Pacific region has ample number of tire manufacturing plants due to huge rubber production, low labor cost and favorable government policies. Asia Pacific is expected to continue its dominance in the global tubeless tire market, owing to projected increase in the region’s vehicle production, sales and vehicle fleet.

List of Tables:

TABLE 1 MARKET SYNOPSIS

TABLE 2 GLOBAL TUBELESS TIRE MARKET, BY TIRE TYPE, 2015–2023 (USD BILLION)

TABLE 3 GLOBAL TUBELESS TIRE MARKET, BY VEHICLE TYPE, 2015–2023 (USD BILLION)

TABLE 4 GLOBAL TUBELESS TIRE MARKET, BY DISTRIBUTION CHANNEL, 2015–2023 (USD BILLION)

TABLE 5 GLOBAL TUBELESS TIRE MARKET, BY REGION, 2015–2023 (USD BILLION)

TABLE 6 NORTH AMERICA: TUBELESS TIRE MARKET, BY COUNTRY, 2015–2023 (USD BILLION)

TABLE 7 NORTH AMERICA: TUBELESS TIRE MARKET, BY TIRE TYPE, 2015–2023 (USD BILLION)

TABLE 8 NORTH AMERICA: TUBELESS TIRE MARKET, BY VEHICLE TYPE, 2015–2023 (USD BILLION)

TABLE 9 NORTH AMERICA: TUBELESS TIRE MARKET, BY DISTRIBUTION CHANNEL, 2015–2023 (USD BILLION)

TABLE 10 U.S.: TUBELESS TIRE MARKET, BY TIRE TYPE, 2015–2023 (USD BILLION)

TABLE 11 U.S.: TUBELESS TIRE MARKET, BY VEHICLE TYPE, 2015–2023 (USD BILLION)

TABLE 12 U.S.: TUBELESS TIRE MARKET, BY DISTRIBUTION CHANNEL, 2015–2023 (USD BILLION)

Continued…

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