Considering the premise of rising road accidents associated with skidding of the vehicle, OEMs are emphasizing a steadfast adoption of tubeless tires across the automotive sector. Providing a balanced weight to the vehicle, enhancing fuel efficiency, and better heat dissipation compared to tubular tires, are factors that make tubeless tires a critical part of automobile production. This report discusses the key prospects for growth of global tubeless tires market during the forecast period, 2017-2022, and also offers forecast-based insights that can influence the strategies of market players.
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Scope
The scope of the report is to analyze the global tubeless tires market for the period 2017-2022 and give readers an accurate, unbiased analysis. Tubeless tire manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.
In a bid to keep readers up-to-date on the latest developments in the global tubeless tires market, the report offers readers a roundup of the latest trends impacting the market. As the automotive sector is ever-evolving, staying abreast with latest trends and developments is paramount to formulating key business strategies. Information on supply chain, cost structure, pricing analysis, raw material sourcing, and list of distributors are offered to readers in this section.
Taking into account the wide scope of global tubeless tire market, the report includes a segment-wise analysis and forecast. The global tubeless tire market is segmented into – product type, vehicle type, technology, distribution channel and region. Through this section, the report offers an in-depth country-specific forecast on every parameter associated with tubeless tire market.
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Global Tubeless Tire Market – Key Projections
1- With more than three-fourth share, global sales of radial tubeless tires will procure highest revenues in the global tubeless tire market. While the report observes radials as top-selling products in the tubeless tire market, bias tires will also witness a steady growth in terms of demand.
2- China, South Korea and India are among the key countries located in the Asia-Pacific excluding Japan (APEJ) region that are at the forefront of global automobile production. The demand for tubeless tires is anticipated to remain high in the APEJ region owing to the manufacturing presence of majority of leading automakers. The report anticipates that throughout the forecast period, the APEJ region will be observed as the largest market for tubeless tires.
3- Sales of tubeless tires in the US and Canada is anticipated to gain traction pertaining to the positive attitudes of car owners towards performance driving. Towards the end of 2022, North America’s tubeless tire market will have soared at the fastest pace, recording a CAGR of 7.3%.
4-The tubeless tire market in Europe will also witness steady growth through 2022. Considering the rising demand for performance vehicles across European countries, this region will witness a persistent growth in demand for tubeless tires.
5- In 2017, more than two-fifth of revenues procured from global sales of tubeless tires will be accounted by passenger cars. By the end of 2022, over US$ 86 Bn worth of tubeless tires will be sold globally for their use in passenger cars.
6- In terms of distribution, aftermarkets for tubeless tires will be observed as the largest distribution network in the global market. Compared to the aftermarket sales of tubeless tire, OEMs will translate lesser revenues. Customization needs of vehicle owners will instrument the dominance of aftermarket sales in global distribution of tubeless tires.
7- On the basis of technology, powered tubeless tires will procure a relatively lower revenue share, compared to standard tubeless tires. By the end of 2022, over US$ 38 Bn worth of tubeless tires developed powered air filling will be sold in the global market.
Competition Tracking
The report has also profiled leading manufacturers of tubeless tires which are expected to stay active in expansion of global tubeless tires market through 2022. Companies such as Bridgestone Corporation, The Yokohama Rubber Co. Ltd., Michelin North America Inc., The Goodyear Tyre & Rubber Company, Madras Rubber Factory Limited, Apollo Tyres Ltd., Pirelli & C. S.p.A., Cheng Shin Rubber Industry Co., Sumitomo Rubber Industries Ltd., and Continental AG are expected to remain key players in the global tubeless tire market.
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