Airless Tire Market Set for 5.6% CAGR Growth, Reaching $77.5 Million by 2030

WILMINGTON, NEW CASTLE, DE, UNITED STATES, February 6, 2025 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Airless Tire Market by Material, Vehicle Type, Sales Channel, and Rim Size: Global Opportunity Analysis and Industry Forecast, 2020–2030,” the global airless tire market size was valued at $46.1 million in 2020, and is projected to reach $77.5 million by 2030, registering a CAGR of 5.6%.

Asia-Pacific dominates the market in terms of revenue, followed by North America, Europe, and LAMEA. U.S. led the global airless tire market share in 2020, and is expected to grow at a significant rate during the forecast period, due to the strong presence of automotive manufacturers across the country.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/2437

Airless tires are used to improve the vehicle's safety and drivability as well as to lower the maintenance cost of the automobile. Airless or solid tires are available in a wide range of sizes and types as well as for a wide range of applications. An airless tire is a durable and flat-free tire that is supported by air pressure, and is installed widely in commercial vehicles and two-wheelers to provide a gripping surface for traction and to cushion the moving vehicle's wheels. The booming commercial automotive fleet, expanding transportation infrastructure, and rising automotive production globally have contributed to strong increase in airless tire production in the recent years.

Leading manufacturers of automobile tires are focusing on development of durable and low-maintenance automotive tires, owing to the changing customer preferences, which further enhance the outlook for global airless tire manufacturers. In addition, rise in global awareness regarding reduction in pollution increases the demand for long-lasting and puncture-resistant automotive tires.

The factors such as surge in demand for maintenance-free tires and increase in demand for all-terrain and military vehicles are expected to drive the growth of the airless tire market. However, low performance during friction and high-speed scenarios and high capital investment for setting up new manufacturing facilities are the factors expected to restrict the growth of the market during the forecast period. Moreover, higher recyclability of plastics and rise in the adoption of electric vehicles across the world in the coming years are the factors anticipated to supplement the market growth in the coming years.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-airless-tire-market/purchase-options

The sales of the airless tire is directly associated with automotive production and sales activities across the globe. The spread of the COVID-19 pandemic has negatively impacted the growth of the airless tire market, owing to commute restrictions and poor financial performance of market players in 2020. The COVID-19 crisis is causing uncertainty in the airless tire market by delaying supply chains, hampering business growth, generating uncertain demand scenarios, and increasing panic among the customer segments.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By material, the rubber segment is expected to register significant growth during the forecast period.

On the basis of vehicle type, the utility vehicles segment is projected to lead the global market in terms of market share by the end of the forecast period.

Depending on sales channel, the aftermarket segment is expected to register significant CAGR during the forecast period.

As per rim size, the 15 to 20 inches segment is expected to register significant CAGR during the forecast period.

Asia-Pacific dominated the market in 2020, and is projected to lead the market growth and maintain its dominance in the global market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/2437

The key players profiled in the report are Ameritire Corporation, Bridgestone Corporation, Continental AG, Hankook Tire & Technology Co., Ltd., Michelin, Sumitomo Rubber Industries, Ltd., The Goodyear Tire & Rubber Company, Toyo Tire Corporation, The Yokohama Rubber Co., Ltd., and Trelleborg

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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