Tubeless
tires, as the
name suggests, runs without a separate inner tire. Dissimilar to pneumatic
tires which operate with a different inward tube, tubeless tires has persistent
ribs configured into the bead of the tire. So, they are constrained by the force
of inside air to seal the rims of wheel. Tubeless tire is made up of tread,
spiral layers and steel belt. Tread is used to give frame support of the
vehicle and better traction resulting in better transfer of breaking stress to
road. Tubeless tires offer various advantages over the pneumatic tires such as
fuel efficiency, less balance weight required, easy repair and better safety.
Also, it is cost saving as no tube is required. Further, tubeless tires offer
better heat dissipation which increases the overall life of the tire. Tubeless
tires have become most attractive product in the tire industry due to its
various advantages over other tires.
Based on
type, automotive tubeless tire is divided into radial tires and bias tires.
Further, automotive radial tubeless tires has got an edge over bias tires in
the terms of solid construction, wider tires, better ride experience and longer
life. The passenger automobile division held the largest market share of
automotive tubeless tires in 2016. According to the OICA Car association,
roughly 68 million passenger automobiles were sold globally which additionally
anticipated the automotive tubeless tires market. Further, enormous expansion
of automotive industry is expected to raise the demand over the forecast
period. The few factors bolstering the marketing of automotive
tubeless tires market are better fuel efficiency and increased life of
vehicles.
Market Size and Forecast
The
automotive tubeless tires market is anticipated to witness a CAGR of 6.13%
during the forecast period and estimated to showcase a revenue to USD 196
billion by 2024.
At
present, Asia- Pacific is holding the
largest market share of automotive tubeless tires accounting for more than 50%
and is anticipated to have its dominance over the forecast period. Further,
Asia-Pacific is anticipated to witness a CAGR of 6.4 %.
The major
factor for the growth of automotive tubeless tires market in Asia-Pacific is
the expanding automotive industry in countries like Japan, China, South Korea
& India. Thus, Asia-Pacific is expected to showcase a lucrative growth over
the forecast period.
Asia-Pacific
is expected to maintain its supremacy over the forecast period followed by
North- America and Europe. Increasing disposable income is the major growth
factor for automotive tubeless tires in European countries and North America.
Market Segmentation
Based on
market survey, global automotive tubeless tires market is segmented into
following segments:
By Type
·
Radial
tubeless tire
·
Bias
tubeless tire
By Vehicle
Type
·
Two-Wheeler
·
Passenger
Car
·
Commercial
Vehicle
By
Distribution Channel
·
Original
Equipment Manufacturer (OEM)
·
Aftermarket
By Region
Global
Plywood Market is further classified on the basis of region as follows:
·
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
·
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
·
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
·
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest
of Asia) Market size, Y-O-Y growth & Opportunity Analysis
·
Middle
East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Increasing
demand, production and sales of automobiles, technological advancements in
automotive tubeless tire industry and rise in disposable income are some of the
key drivers bolstering the global automotive tubeless tires market. Further,
fuel efficiency, rise in demand of better performance vehicles and low cost of
tubeless tires is driving the global automotive tubeless tires market.
Moreover,
strict automotive emission policy and advanced technological developments such
as low weight tubeless tire, environment friendly tubeless tires and advanced
raw materials are the factors driving the global automotive tubeless tires
market.
However,
varying raw material price and lack of technological advancement for commercial
and off road vehicles are the key challenges hampering the growth of automotive
tubeless tires market.
Key players
·
Ceat
Tyres Ltd.
·
MRF
ltd.
·
Goodyear
Tire and Rubber Company
·
Yokohama
Tyres
·
Bridgestone
Corporation
·
Continental
AG
·
Pirelli
Tyre S.p.A
·
Sumitomo
Rubber Industries, Ltd
·
Hankook
Tire Co. Ltd.
·
Toyo
Tire & Rubber Co. Ltd.
·
MICHELIN
Scope and Context
Overview
of the Parent Market
Analyst
View
Segmentation
The Global
Automotive Tubeless Tires Market is segmented as follows:
·
By
Type Market Size & Y-O-Y Growth Analysis
·
By
Vehicle Type Size & Y-O-Y Growth Analysis
·
By
Distribution Channel Market Size & Y-O-Y Growth Analysis
·
By
Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
To know
more about this research, kindly visit:
For Table of Content &
Free Sample Report Contact:
Ajay
Daniel
Email:
ajay.daniel@researchnester.com
U.S. +1 646 586 9123
U.K. +44 203 608 5919
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