Airless Tires Market : Global Industry Analysis and Forecast (2023-2029)

Airless Tires Market size was valued at US$ 51.47 Mn. in 2022 and the total revenue is expected to grow at 5.7% of CAGR through 2023 to 2029, reaching US$ 75.88 Mn.
Airless Tires Market Overview:
The Airless tires referred to automobile tires made to function without air pressure. Thanks to their various advantages and potential to replace the current pneumatic tires, these types of tires have drawn a lot of interest in recent years. Bicycles, military vehicles, and other commercial & utility vehicles all use airless tires. These tires are expected to be used in passenger vehicles as well, making them the next generation of automobile tires.

According to MMR research, the airless tires market had a value of USD 51.47 million in 2022 and is expected to grow to USD 75.88 million by 2029. The Non-pneumatic Tire (NPT) or flat-free tire sector is dominated by companies like Michelin, Bridgestone Corporation, Hankook Tire and Technology, Yokohama Rubber Co., Ltd., and Sumitomo Rubber Industries, Ltd. As they have less rolling resistance than conventional tires, airless tires are most frequently used in electric vehicles. They are able to conserve more battery power as a result. Although airless tires can be used on different types of vehicles, they are not recommended for fast vehicles.To know about the Research Methodology :- Request Free Sample Report
Research Methodology
Primary and secondary data collection methods were used to collect data. Primary interviews and experts from the airless tires industry and suppliers have been interviewed to understand the future trends of the airless tires market. the Primary respondents include representatives from manufacturing TIER 1, TIER 2 companies, and OEMs. Some of the industry experts are also interviewed to validate the key findings. From secondary sources such as the EAMA, OICA, CEMA, and paid databases such as Marklines, Factiva, and other directories. Details list of sources is given in the report wherever internal data is not used.

The airless tires market size has been calculated using a bottom-up approach based on volume. At the regional level, primary and secondary sources have been used to calculate the estimated installation rate of advanced technologies. The airless tires market size in terms of value is calculated by multiplying the market size in terms of volume by the projected average OE price (AOP) of tires unit needed for each application and vehicle segment.
Airless Tires Market Dynamics:
Increasing use of airless tires in commercial vehicles impacts the airless tires market

Airless Tires penetration is expected to be fueled by increasing passenger vehicle sales as well as a demand for tires with puncture resistance. New airless tires being developed by many companies are being made exclusively for the commercial market. For instance, Michelin and DHL worked together in 2023 to test the Uptis airless tire. By the end of 2023, more than 50 DHL express vehicles will be using puncture-proof tires in Singapore as part of this agreement. As a result, these factors are expected to boost the airless tires market growth through the forecast period.

Demand of 3D Printing technology in the Airless Tires Market

3D printing technology’s major market trend for automobile airless tires is expected to have a favorable effect on the airless tires market throughout the forecast period. The uses of 3-dimensional (3D) printing to cut manufacturing costs and minimize pollution. For instance, in October 2022, MICHELIN created the Unique Puncture-proof Tire System Airless Tire (UPTIS) using biodegradable materials and 3D printing technology. The Michelin VISION idea 3D print biodegradable materials, to create airless tweels. Similarly, the US company Goodyear Tire and Rubber Company revealed plans to test 3D printing technology for making tires on an autonomous vehicle in Florida. In the upcoming years, the market expansion will be further supported by the increasing popularity of 3D printing.

Noisy airless tires with high prices are restraining the market growth

Airless tires are substantially noisier than standard air-filled tires, which is one of their major drawbacks. Although technology is advancing to reduce this, airless tires still transmit more vibration into the car than conventional tires. Airless tires are somewhat pricey, at least for the time being. Depending on the size and kind, for example, Michelin Tweel can cost up to USD 750 per wheel (about £630 in the UK), although that price is for a tire and wheel combo.

These can only be used on little UTV-style commercial vehicles and have a top speed of only 38 mph. They are also expected to be initially rather pricey if and when larger airless tires are made available for regular passenger vehicles. However, if they gain popularity and are used more frequently, the high costs may gradually decrease. As a result, these factors are expected to hamper the airless tires market growth through the forecast period.
Airless Tires Market Segment Analysis:
Material type, based on material type, rubber material dominates the airless tires market. Rubber has a high load capacity and is a cost-effective material. A noteworthy invention in the rubber tire industry is airless tires. Manufacturers of rubber tires have been forced to develop airless tires as a result of changing mobility requirements and escalating environmental issues in the automotive sector. High-tech materials are being used by rubber tire manufacturers to create airless tires that improve energy efficiency, require less maintenance, and use less material. These factors are driving the segment growth for the airless tires market.

Vehicle type, Due to the growing demand for puncture-proof tires, the automotive airless tires market from the commercial vehicle segment is expected to have strong growth through the forecast period. For instance, Goodyear Tire & Rubber Company indicated in 2023 that an airless tire would be developed and tested by enterprises’ autonomous delivery robots. These innovations show the airless tires market's growth potential for commercial uses. In 2022, the number of airless tires used on military vehicles surpassed 11,825,000. The defense industry will have a high demand for the product because these vehicles operate in challenging off-road conditions and need tires that need less upkeep and repair.
Regional Insights:
Asia-Pacific is home to one of the largest automotive aftermarkets as a result of the rapid growth of the automobile industry in countries like India, China, and Japan. The need for airless tires in the region is growing due to increased building activity, a desire for fuel-efficient technology, and industrial growth. China, Japan, and South Korea are examples of countries with a large number of raw material suppliers, a supportive political environment, and affordable labor costs. These countries place a lot of focus on agriculture, therefore the demand for airless tires in the agricultural sector is probably going to be significant as well. China is the most significant airless tires market in terms of global auto sales. For tire manufacturers who are willing to participate in joint ventures with regional automakers, APAC is one of the most alluring locations. For instance, Hankook Tire & Technology (South Korea) created the Enfren Eco tire in 2022 with the goal of reducing energy loss and enhancing fuel efficiency in electric vehicles.  As raw materials become more accessible and the number of vehicles on the road rises, the industry landscape will have significant growth potential.

The North America is expected to grow at a significant growth rate with the highest CAGR through the forecast period. ATVs are employed in the US for several purposes, including small-scale forestry work, land management, ranching, and farming. ATVs are frequently used in agriculture because they make it easier to do things like plant seeds, apply chemicals, examine the land, and much more. The application potential for airless tires would be expanded due to the high demand for ATVs in the region. The development of airless tire technology as well as new product introductions is contributing to regional airless tires market growth.

The objective of the report is to present a comprehensive analysis of the Airless Tires Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
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Global Airless Tires Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 51.47 Mn.


Forecast Period 2023 to 2029 CAGR:
5.7%
Market Size in 2029:
US $ 75.88 Mn.


 Segments Covered:
by Material
Rubber
Plastic


by Vehicle Type
Military Vehicles
Passenger and Commercial Vehicle
All-Terrain Vehicle
Utility Vehicle
Two Wheelers


by Sales Channel
OEM
Aftermarkets



Airless Tires Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Key Players are:
1. Goodyear Tire and Rubber Company (US)
2. CST,(US)
3. Marathon Industries inc (US)
4. Cooper Tire (U.S.)
5. McLaren Industries (US)
6. Amerityre Corporation (U.S.)
7. Yokohama Tire Corporation (US)
8. Evolution Wheel (Canada)
9. Sunitomo Rubber Industries (Japan)
10.Michelin (France)
11.Continental Corporation (Germany)
12.Trelleborg AG (Sweden)
13.GRI Tires (India)
14.Tannus Ltd (Australia)
15.SciTech Industries (Australia)
16.Tannus Ltd (South Korea)
17.Hankook (South Korea)
18.Toyo Tire and Rubber Co. Ltd.  (Japan)
19.Bridgestone (Japan)

Frequently Asked Questions:

1. What is the forecast period considered for the Airless Tires Market report?
Ans. The forecast period for the Airless Tires Market is 2023-2029.

2. What was the global market size of the airless tires market in 2022??
Ans.  The global amarket size was valued at USD 51.47 million.

3. What is the compound annual growth rate (CAGR) of the Airless Tires Market for the forecast period?
Ans. 5.7% of CAGR is the annual growth rate of the airless tires market.

4. What is the study period for the airless tires market?
Ans. 2017-2029 is the study period for the market.

5. Which are the worldwide major key players covered for the Airless Tires Market report?
Ans. Marathon Industries inc., SciTech Industries, CST, Yokohama Tire Corporation are major key players covered in amarket.