Airless Tire Market Growth, Trends, and Forecast by 2027

In terms of revenue, the global airless tire market was valued at US$ 173.3 million in 2018 and is projected to reach US$ 270.0 million by 2027; it is expected to grow at a CAGR of 5.1% during the forecast period from 2019 to 2027.

The airless tire market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. The most prominent region in the global airless tire market accounted for North America, followed by the Asia Pacific and Europe. The dominance of North America in the airless tire market is due to the fact that the region houses several airless tire manufacturers, who capitalize significantly on the research & development of the product. The US is the largest market in North America as well as the global airless tire market and is anticipated to dominate the market throughout the forecast period from 2019-2027. The airless tire market on a global scenario is poised to surge during the forecast period. The adoption of the airless tire in different geographies is growing steadily among various vehicle types. The advantages offered by the airless tires have been influencing several industries, including construction, agriculture, commercial, mining, and military. The airless tire market is at a nascent stage, and several well-established companies, as well as smaller players, are operating in the global market

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Airless Tire Market: Strategic Insights

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Market Insights–Airless Tire Market

Escalation in the production of vehicles worldwide

Globally, the trend of urbanization is growing at an exponential growth rate. Due to this, the average disposal income of the population staying in urban cities is also increasing. The production of vehicles has witnessed a steady growth in the post-recession era since the year 2010. A key area is the heavy equipment and utility vehicles sector that is characterized by a high level of innovation activity and developments related to road safety. Increase in vehicles fleet has resulted in increase in accidents which is caused by various factors, such as inappropriate tire pressure. The heavy equipment that are equipped with airless tires are able to carry more weight and involve in more rugged activities compared to the pneumatic tires.

Type Segment Insights

Based on type, the radial tire segment dominated the global airless tire market in 2018. In In a radial tire design, the arrangement of cord plies are at 90 degrees to the direction of travel, or from the center of the tire (radially). A radial tire enables the tread and the sidewall to function as two independent features of the vehicle tire.

Material Segment Insights

Based on material, the rubber segment dominated the global airless tire market. A conventional tire is made of air enclosed rubber packed with the use of compressed air. The pneumatic tires are dominating the global market for tires.

Vehicle Type Segment Insights

Based on vehicle type, the utility vehicle segment held the largest share in global airless tire market in 2018. The utility vehicles include different type of vehicles that are used for numerous industry applications. These vehicles are designed and manufactured to carry out a specific tasks with more effectively and efficiently when compared to passenger vehicles.  

The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

• In 2019, Michelin Tweel Technologies, a division of Michelin North America, Inc., has introduced a new 26-inch airless radial tire with a four-bolt wheel-pattern hub, designed for UTV (utility vehicle or utility task vehicle).
• In 2018, Michelin has entered into a partnership with General Motors to test and test the prototype Uptis to equip cars from 2024.
• In 2017, Toyo Tires has announced the development of “noair,” a neo-futuristic airless concept tire that does not require any filling of air.

The global airless tire market has been segmented as follows:

Airless Tire Market – By Type

• Radial Tire
• Bias Tire

Airless Tire Market – By Material

• Rubber
• Composite

Airless Tire Market – By Vehicle Type

• Terrain Vehicle
• Utility Vehicle
• Military Vehicle

Airless Tire Market- By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM

Airless Tire Market Regional Insights

The regional trends and factors influencing the Airless Tire Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Airless Tire Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Airless Tire Market Report Scope

Airless Tire Market Players Density: Understanding Its Impact on Business Dynamics

The Airless Tire Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Airless Tire Market – Companies Profiles

• Amerityre
• Bridgestone Corporation
• Continental
• Evolution Wheel
• Hankook Tire & Technology Co. Ltd.
• McLaren Industries
• Michelin
• Sumitomo Rubber Industries Ltd.
• The Goodyear Tire & Rubber Company
• Toyo Tire & Rubber Co. Ltd.,