Global Airless Tires Market Projected to Reach USD 1,295.58 Million by 2031 | CAGR of 4.4%
Category : Automotive Services | Published Date : Nov 2024 | Type : Press Release
Airless Tires Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Airless Tires Market was valued at USD 916.13 Million in 2023 and is expected to reach USD 1,295.58 Million by 2031, registering a CAGR of 4.4% from 2024 to 2031. Airless tires, also known as non-pneumatic tires, are constructed using solid or flexible materials like rubber and polymers. These tires eliminate the risk of punctures, providing enhanced durability and reduced maintenance needs, making them suitable for use in harsh conditions and on uneven terrains.
The report comprises the Airless Tires Market Share, Size & Industry Analysis, By Tire Type (Radial Airless Tires, Bias Airless Tires), By Material (Rubber, Plastic, Composite Materials), By Vehicle Type (Passenger Cars, Commercial Vehicles, Two-Wheelers, Military Vehicles, Others), By Sales Channel (OEM, Aftermarket), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024–2031.
The report contains detailed information on Airless Tires Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Rising adoption in electric vehicles (EVs) drives market expansion, while performance challenges in high-speed applications hinder broader market penetration.
Segmental Analysis :
By Tire Type, the market is segmented into Radial Airless Tires and Bias Airless Tires.
- Radial Airless Tires held the largest market share in 2023, driven by their superior comfort, fuel efficiency, and extended lifespan, making them ideal for passenger and commercial vehicles.
- Bias Airless Tires are anticipated to register the fastest CAGR during the forecast period, owing to their strength and durability, particularly in construction and military applications.
By Material, the market is divided into Rubber, Plastic, and Composite Materials.
- Rubber accounted for the largest share of 79.48% in 2023, due to its flexibility, durability, and cost-effectiveness.
- Composite Materials are expected to grow at the highest CAGR, driven by demand for lightweight, high-performance tires in military and aerospace applications.
By Vehicle Type, the market covers Passenger Cars, Commercial Vehicles, Two-Wheelers, Military Vehicles, and Others.
- Passenger Cars represented the largest segment in 2023, supported by increasing consumer demand for puncture-resistant and low-maintenance tires.
- Commercial Vehicles are projected to experience the highest growth rate, driven by the need for durable, maintenance-free tire solutions in logistics and transportation sectors.
By Sales Channel, the market is divided into OEM and Aftermarket.
- OEM dominated the market share in 2023, with automotive manufacturers integrating airless tires into new vehicle models for enhanced durability and reduced maintenance.
- Aftermarket is expected to grow at the fastest rate, as consumers increasingly replace conventional tires with airless alternatives to improve vehicle performance and minimize maintenance.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America led the market in 2023, driven by high demand in military and construction applications.
- Asia-Pacific is projected to grow at the highest CAGR, supported by rapid industrialization and increasing adoption of airless tires in electric vehicles across China, Japan, and India.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 1,295.58 Million |
| CAGR (2024-2031) | 4.4% |
| By Tire Type | Radial Airless Tires, Bias Airless Tires |
| By Material | Rubber, Plastic, Composite Materials |
| By Vehicle Type | Passenger Cars, Commercial Vehicles, Two-Wheelers, Military Vehicles, Others |
| By Sales Channel | OEM, Aftermarket |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Airless Tires Industry:
- Michelin (France)
- The Goodyear Tire & Rubber Company (USA)
- Continental AG (Germany)
- Bridgestone Corporation (Japan)
- Trelleborg AB (Sweden)
- Sumitomo Rubber Industries, Ltd. (Japan)
- Toyo Tires (Japan)
- Hankook Tire & Technology Co. Ltd. (South Korea)
- Amerityre Corporation (USA)
- Yokohama Rubber Company (Japan)
Recent Industry Developments :
- In March 2023, Michelin launched its X Tweel TMF tire, designed for rough terrain applications, enhancing stability and performance while eliminating downtime caused by flat tires.
- In April 2024, Michelin partnered with JHB Group to launch "The Badger," a response trailer equipped with airless X Tweel technology, aimed at providing enhanced performance in emergency response scenarios.
