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The Asia Pacific Automotive Tubeless Tire Market Size is anticipated to experience a growth of 7.3% CAGR during the forecast period (2016 - 2022).
Tubeless tires run without the need for an inner tube, while the outer casing creates an air tight seal with the rim of the wheel. The tubeless tire is made up of tread, steel belt, and spiral layer. Various functions are smoothly conducted with the help of tubeless tires such as supporting the vehicle load, transmitting traction, absorbing road shocks, etc. Tubeless tires are made up of steel belt covered with resilient rubber and inflated with high-pressure air (nitrogen, CO2, O2, and mixture of gases), allowing the tubeless tires work smoothly.
Tubeless tires have gained tremendous acceptance within the global automotive industry, majorly due to augmented safety and reliability of these tires. The air-tight seals prevent rapid deflation of tires in case of damage or tear. Tubeless tires are also known to provide superior fuel efficiency & heat dissipation, limited need for weight balancing. The aforementioned factors have driven the adoption of tubeless tires across all types of vehicles. However, commercialization of air less tires would hinder the market growth significantly.
Based on Type, the market is segmented into Radial and Bias. Based on Type of Vehicle, the market is segmented into 4-Wheeler, Heavy Vehicles, and 2-Wheeler. Based on Distribution Channel, the market is segmented into Aftermarket Sales and OEM Sales. Based on country, Automotive Tubeless Tire market is segmented into China, Japan, India, South Korea, Singapore, Australia and Rest of Asia-Pacific. China remained the dominant country in the Asia-Pacific Automotive Tubeless Tire market in 2015. India and South Korea would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stakeholders of the Automotive Tubeless Tire market. Key companies profiled in the report include Continental AG, Bridgestone Corporation, The Goodyear Tyre & Rubber Company, Sumitomo Rubber Industries, Ltd., Hankook Tire Co. Ltd., Michelin, Toyo Tire & Rubber Co. Ltd., and Pirelli & C.S.p.A.