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 InternationalUSA, 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 InternationalUSA, HUTCHINSON, Ralf Bohle GmbH, and others.
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