December 04, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Airless Tire Market to 2027 - Global Analysis and Forecasts by Type (Radial Tire and Bias Tire); Vehicle Type (Terrain Vehicle, Utility Vehicle, and Military Vehicle); Material (Rubber and Composite)’, the worldwide airless tire market is anticipated to amass US $270 million by the year 2027.
The global airless tire market size is derived by using both secondary and primary source. The research begins with extensive secondary research using external and internal sources to acquire quantitative and quality information associated with worldwide airless tire market. Furthermore, it offers a forecast and overview for the market based on all segmentation offered for the region.
Various disadvantages associated with conventional pneumatic tires including burst-outs, punctures, and under & over inflation issues are compelling the consumers to opt for wireless tires, hence propelling the market growth. Development of innovative tire solutions, coupled with extensive application of these tires across various vehicle types will further augment the airless tire market outlook.
The report analyzes airless tire market on the basis of vehicle type, product type, material used, and regional landscape. Based on vehicle type, the market is segmented as utility vehicle, military vehicle, and ATV. Considering the product type, airless tire market is categorized as bias and radial.
In terms of material used, the market is fragmented as composite and rubber. As per the study, rubber airless tire market is presently displaying dominance, pertaining to its puncture resistance, stability, and low maintenance. These tires are used in forklift trucks, heavy-duty transport vehicles, platform trucks, and airport vehicles.
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Speaking of regional landscape, North America dominated the global airless tire market in 2017, due to higher adoption across military forces and automakers. Furthermore, Asia Pacific airless tire market is presumed to register momentous growth over the forecast period, on account of rapid economic development of various countries across the region which will emerge as potential grounds.
The prominent companies operating in airless tire market include Toyo Tire & Rubber Co. Ltd., Amerityre, The Goodyear Tire & Rubber Company, Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Continental, Michelin, Evolution Wheel, McLaren Industries, and Hankook Tire & Technology Co. Ltd. among others.
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