Global Automotive Tubeless Tire Market By Type (Radial Automotive, Bias Automotive), Type of Vehicle (4-Wheeler, Heavy Vehicles, 2-Wheeler), Distribution Channel (Aftermarket Sales, OEM Sales)
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Market Report Description
The global Automotive Tubeless Tire Market Size is expected to attain a market size of $185.8 billion by 2022, rising at a CAGR of 6.1% during the forecast period.
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. The tubeless tire market is a potential market and would witness tremendous growth during the forecast period. Major factors that are driving the market growth are easy puncture repair options, safety during high speed driving, lower tire pressure, better bump absorption, and reduced rotating weight. Commercial vehicles are highly inclined to adopt tubeless tires and use the same in varying numbers depending on the application and role of the vehicle.
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 region, Automotive Tubeless Tire market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Australia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. Asia-Pacific remained the dominant region in the global Automotive Tubeless Tire market in 2015. North America would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders 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.