Tubeless Tires Market Scope
Tubeless tires are the tires without inner air tubes. In case of tubeless tires, the outer tire case is directly attached to the wheel rim, which doesn’t allow air to leak. It consist of steel belt, tread, and spiral layer. These type of tires can bear maximum vehicle load, transfers adhesive friction & breaking force to ground level, as well as maintains direction of the travel. Tubeless tires are being adopted by both passenger as well as commercial vehicle divisions, thereby supporting market growth.
According to AMA, the Global Tubeless Tires market is expected to see growth rate of 6.2% and may see market size of USD210.0 Billion by 2027.
In case of tubeless tire industry, majority of the market share is captured by a few players. That shows a perfect oligopoly in the tubeless tire market. These market leaders, and new emerging tire manufacturers are adopting technological advancements to gain competitive edge, over the forecast period.The Vendors having a strong hold in the market are Michelin, Goodyear Tire and Rubber Company, Bridgestone, Continental, Cooper Tire & Rubber Company. Research Analyst at AMA estimates that Japanese and United States Vendors will contribute to the maximum growth of Global Tubeless Tires market throughout the predicted period.
Michelin (France), Goodyear Tire and Rubber Company (United States), Bridgestone Corporation (Japan), Continental AG (Germany), Hankook Tire (South Korea), Pirelli & C. S.p.A.(Italy), Apollo Tyres Ltd (India), Cooper Tire & Rubber Company (United States), Sumitomo Rubber Industries, Ltd. (Japan), Toyo Tire Corporation (Japan) and THE YOKOHAMA RUBBER CO., LTD. (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Kumho Tire (South Korea), CST (Maxxis) (Taiwan), GITI Tire (Singapore), MRF Tyres (India) and CEAT Ltd.(India).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Tubeless Tires market by Type (Radial Tire and Bias Tire), by Application (Passenger Vehicles, Commercial Vehicles and Others) and Region with country level break-up.
On the basis of geography, the market of Tubeless Tires has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
According to Michelin's Annual Report, On January 3, 2018 Michelin and Sumitomo Corporation of America has announced the merger of their wholesale and retail activities to ensure better availability of their products and improved delivery to their customers in the United States and Mexico. This merger is expected to make them the second largest tire wholesaler on North American soil. The entity will operate under a new identity, with equal parts in the profit.
- Increasing Dominance of Japanese Tire Industry
- Tubeless Tires causes Minimized Auto Spare Parts Damages
- Robust Growth in Automotive Industry across the Globe
- Ability to Run at Lower Pressure
- Improved Vehicle Performance with Minimized Risk and Vehicle Instability
- Growing Automobile Manufacturing Infrastructures in Emerging Economies
- Technological Advancements in Manufacturing Processes
- Increasing Vehicle Efficiency
- Up-surging Prices of Raw Materials
- Threat of Substitution by Airless Tires
- Growing Globalization
- Changing Consumer Preferences
- Increasing Automobile Labor Costs
- Availability of Substitutes
Key Target AudienceTire Manufacturers, Tire Distributors and Vendors, Automobile Industry, Petroleum Industry, Government and Private Research Organizations and Others