The global airless tire market revenue was US$ 48.68 million in 2021. The global airless tire market revenue is forecast to reach US$ 77.5 million by 2030, growing at a compound annual growth rate (CAGR) during the forecast period from 2022-2030.

Tires are an essential part of any vehicle since they ensure safety and comfort for the driver and passengers. Tires perform two fundamental functions: protecting the wheel rim and transferring tractive force to the road surface. Airless tires, also known as non-pneumatic tires (NPTs) or flat-free tires, do not depend on air pressure for support, so they do not require re-inflation. The rubber cushion reduces the impact of vibrations and cushions the automobile shock because it's constructed from rubber.

Factors Influencing Market Growth

The growing demand for long-lasting, low-maintenance vehicle tires has led major automakers to produce airless or solid tires. These improvements are forecast to raise the global airless tire market's growth prospects in the forecast period.
Factors including the surge in demand for maintenance of free tires and the rise in popularity of all-terrain vehicles and military vehicles are likely to drive the growth of the global airless tire market.
Due to low performance during friction and high-speed scenarios, and the high capital investment required for setting up new manufacturing facilities, the global airless tire market may grow slowly.
Globally, the increasing recycling of plastics and the adoption of electric vehicles will provide lucrative opportunities for the global airless tire market.
Impact Analysis of COVID-19

The COVID-19 pandemic had negatively impacted the global airless tire market. Across the globe, governments implemented strict lockdowns and required social distancing to prevent the spread of the COVID-19 virus. As a result, the work-from-home policy had adopted as a measure of precaution. It resulted in a drop in global demand for automobiles. As a result, several manufacturing facilities across the globe had to shut down operations due to nationwide lockdowns. Thus, it also impacted the supply and demand in a massive way around the world.

Regional Insights

Asia Pacific is forecast to register the highest CAGR during the forecast period in the airless tire market. Due to the strong presence of manufacturers such as Bridgestone, Hankook, and Sumitomo Rubber Industries throughout the region. The industry landscape will experience significant growth due to the availability of raw materials and the high ownership of vehicles.

Leading Competitors

The leading prominent companies profiled in the global airless tire market are:

Ameritire Corporation
Bridgestone Corporation
Continental AG
Hankook Tire & Technology Co., Limited
Michelin
Sumitomo Rubber Industries, Limited
The Goodyear Tire & Rubber Company
Toyo Tire Corporation
The Yokohama Rubber Co., Limited
Trelleborg AB
Other Prominent Players
Scope of the Report

The global airless tire market segmentation focuses on Material, Vehicle Type, Sales Channel, Rim Size, and Region.

Segmentation based on Material

Rubber
Plastic
Segmentation based on Vehicle Type

Military Vehicles
Passenger & Commercial Vehicles
All-terrain Vehicles
Utility Vehicles
Two-wheelers
Segmentation based on Sales Channel

OEM
Aftermarket
Segmentation based on Rim Size

Less than 15 Inches
15 to 20 Inches
More than 20 Inches
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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