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(Transportation-News.com, April 14, 2020 ) Market Overview
• The Global Airless Tire Market is expected to grow at a CAGR of 4.9% during the forecasting period (2020-2027).
• Airless tires or Non-pneumatic tires are tires that are not supported by air pressure. They are widely used on some small vehicles such as riding lawns mowers and motorized golf carts.
• They are also used on heavy equipment such as backhoes, which are required to operate on sites such as building demolition, where a risk of tire punctures is quite high, as airless tires never go flat.
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Market Dynamics
• The main advantage of airless tires is that they will not go flat. Therefore, airless tires are attractive to cyclists, as bicycle tires are much more vulnerable to punctures than motor vehicle tires.
• Moreover, airless tires will need to be replaced less often thus is cost-effective. However, airless tires generally have higher rolling resistance and provide less suspension than a similarly shaped and sized pneumatic tires.
• Airless tires are therefore much bumpier and are less comfortable for riding. Moreover, the current airless tires in production are not good at dissipating heat. Therefore, if they are used for highway vehicles, they would fail very quickly. These tires are also much noisier when compared to the pneumatic tires.
Segmentation Analysis
• The global airless tires market is segmented by the product type, vehicle type, and the material.
• By the product type, the market is segmented into radial and bias. Radial tire type is the dominant segment due as it is more advantageous over bias tape.
• Radial tires provide greater productivity as the casing allows the machine to transfer more power to the ground. Radial tires are more flexible than bias tire and therefore absorb shocks, impact, and bumps, which result in a better and comfortable ride. Due to the tire’s less ground compaction, the radial tire does not get damaged quickly.
• By the material, the market is segmented into rubber and plastic. Plastic is highly recyclable and therefore is preferred by most of the manufacturers in their production.
• By the vehicle type, the market is segmented into LCV, HCV, military vehicles, terrain vehicles, and others.
Geographical Share
• The global airless tires market is segmented into the region – North America, South America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific is the dominant geographic segment of the airless tires market, due to the substantial production of military and commercial vehicles, especially in China and India.
Competitive Landscape
• The global market for airless tires is comparatively competitive. The key players in the market are highly focused on launching airless tires for all types of vehicles. For instance, Michelin, in May 2016 has launched a new airless tire for UTV markets. The product is expected to provide unmatched traction and uninterrupted vehicle mobility for long journeys or in remote areas where a flat tire can be problematic.
Few of the key market players of the global aircraft tires market are:
• Bridgestone Corporation
• Michelin
• Goodyear Tire & Rubber Company
• Hankook
• Toyo Tire & Rubber Company
• Sumitomo Rubber Industries
• Tannus
• Continental AG
• Pirelli Tyre S.p.A.
• Yokohama Tire Corporation
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