Airless Tires Market Growth Analysis & Forecast Report | 2023-2032

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Airless Tires Market Growth Analysis Forecast
Report 2023-2032
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• Industry Insights

• Airless Tires Market is projected to cross USD 85
  Mn by 2032. Increasing investments in the defense
  sector would support the deployment of airless
  tire technology in military vehicles. These tires
  can endure tough terrain and other environmental
  conditions. Features like puncture resistance and
  reduced weight would eliminate the need for
  military vehicles to carry a spare tire.
• This further reduces the weight of these vehicles
  and cuts the time used to repair punctured tires.
  Ongoing geopolitical tensions and conflicts
  between nations would ramp up the demand for
  military vehicles fitted with airless tires. For
  instance, the recent Russia-Ukraine conflict has
  driven the demand for combat vehicles over the
  last year.

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• Airless tires market share from the passenger
  commercial vehicle segment is anticipated to
  observe more than 19.5 CAGR between 2023 and
  2032. Rising sales for passenger vehicles and a
  need for puncture-resistant tires will drive
  product penetration. Many industry players are
  working on developing new airless tires
  specifically for the commercial sector. For
  instance, in 2023, Michelin partnered with DHL to
  test the airless tire dubbed Uptis. As part of
  this partnership, more than 50 DHL express vans
  will be using puncture-proof tires in Singapore
  by the end of 2023.
• As per the report, the airless tires industry
  size from the rubber material segment is expected
  to surpass USD 30 million by 2032. Airless tires
  made using rubber function as a movable cushion
  and can better withstand the impact of vibrations
  and automobile-based shocks. New innovations in
  rubber technology will aid market players to
  develop advanced airless rubber tires. For
  instance, in 2020, Goodyear announced that it
  will launch tires using sustainable materials by
  the end of 2030.

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• Regional Analysis

• North America airless tires market is expected to
  be worth USD 23 million by 2032. In the US, ATVs
  are used for emergency medical response, land
  management, ranching and farming, small-scale
  forest activities, etc. The use of ATVs for
  agriculture purposes is high as it eases the
  process of farming like sowing seeds, applying
  chemicals, inspecting the farm, and much more. As
  the demand for ATVs increases, the application of
  airless tires in ATVs will also increase. New
  product launches and advancements in airless tire
  technology would foster regional market growth.

• Competitive Analysis

• Toyo Tires, Bridgestone Corporation, Hankook
  Tires, Resilient Techn Resilient Technologies,
  LLC., The Michelin Group., Sumitomo Rubber
  Industries., Goodyear Tire Rubber Corporation.

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