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Tubeless Tire Market Size, Industry Analysis Report By vehicle type (radial tires, bias tires), By type (two-wheeler, passenger vehicle, commercial vehicle) & Region – Forecasts

  • PUBLISHED ON
  • 2024-10-03
  • NO OF PAGES
  • 210
  • CATEGORY
  • Automotive & Transportation
Tubeless Tire- Description
Without an inner tube, tubeless tyres perform their functions by creating an airtight seal with a metal rim, which keeps the air inside the rim. In addition to supporting vehicle load, transmitting traction and breaking force to a road surface, absorbing road shocks, and changing and maintaining the direction of travel, tubeless tyres also have tread, a steel belt, and a spiral layer.

Global Tubeless Tire Market- Overview
The Global Tubeless Tire Market is expected to grow at a considerable rate by 2030, with a growing CAGR (Compound annual growth rate) of 7.6% over 2022-2030.
The primary driver propelling the expansion of the tubeless tyre market is the rise in vehicle production and the notable expansion of the automotive industry in developing countries. Due to the development of fuel-efficient products and improved road infrastructure, the bus and truck sector of the automotive industry has a strong demand for radial tyres, which drives the market's expansion.
The introduction of strict regulations pertaining to vehicle and fuel efficiency also has an impact on the expansion of the tubeless tyre market. Additionally, there are more cars on the road, and these tyres are widely used in several market segments.

Global Tubeless Tire Market- Key trends

Increase in production of vehicles will drive the market growth

The increase in manufacturing of automobiles and significant growth in the automotive sector in developing nations are the primary factor driving the tubeless tyre market growth. Due to the development of fuel-efficient products and improved road infrastructure, the bus and truck sector of the automotive industry has a strong demand for radial tyres, which drives the market's expansion. The introduction of strict regulations pertaining to vehicle and fuel efficiency also has an impact on the expansion of the tubeless tyre market. Additionally, there are more cars on the road, and these tyres are widely used in several market segments.

Development in the automotive industry will help the market expansion

The global demand for automotive Global Tubeless Tire Market increased as a result of the growth of the automotive sector in developing nations and stricter vehicle pollution and fuel efficiency standards across different countries. However, the market expansion is being constrained by variations in the cost of raw materials like steel and rubber as well as the significant capital expenditure needed to establish new manufacturing facilities. Additionally, an increase in the average vehicle lifespan and technological advancements are anticipated to open up a wide range of prospects for the expansion of the global tubeless tyre market.

Global Tubeless Tire Market- Segmental assessment

By vehicle types
• Radial tires
• Bias tires
• Others

By types
• Two-wheeler
• Passenger vehicle
• Commercial vehicle
• Others

Global Tubeless Tire Market- Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030.

Global Tubeless Tire Market- Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are Toyo Tire Corporation, Bridgestone Corporation, Yokohama Tire Corporation., The Goodyear Tire & Rubber Company, CST Co. Inc., Continental AG, Hankook Tire & Technology Co.,Ltd., Michelin., Pirelli & C. S.p.A., Sumitomo Rubber Industries, Ltd., CEAT, MRF LIMITED, KUMHO TIRE CO., INC, Apollo Tyres Ltd, Cooper Tire & Rubber Company, Metro Tyre, Sonil Ventilfabrik, Kenda Tires., Maxxis International–USA, HUTCHINSON, Ralf Bohle GmbH, and others.

Report scope
Global Tubeless Tire Market: Historical Years- 2018-2021
Global Tubeless Tire Market: Forecast Years- 2022-2030
Global Tubeless Tire Market CAGR- 7.6%

Key segments covered-
• By vehicle type (radial tires, bias tires, and others).
• By type (two-wheeler, passenger vehicle, commercial vehicle, and others).

Major regions and countries reported-
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Argentina, and Colombia)
• Europe (Germany, U.K., France, Italy, Spain, and Russia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)

Top players profiled- Toyo Tire Corporation, Bridgestone Corporation, Yokohama Tire Corporation., The Goodyear Tire & Rubber Company, CST Co. Inc., Continental AG, Hankook Tire & Technology Co.,Ltd., Michelin., Pirelli & C. S.p.A., Sumitomo Rubber Industries, Ltd., CEAT, MRF LIMITED, KUMHO TIRE CO., INC, Apollo Tyres Ltd, Cooper Tire & Rubber Company, Metro Tyre, Sonil Ventilfabrik, Kenda Tires., Maxxis International–USA, HUTCHINSON, Ralf Bohle GmbH, and others.
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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