Portland, OR, December 9, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the airless tire market generated $ 46.1 million in 2020 and is expected to reach $ 77.5 million by 2030, with a CAGR of 5.6% from 2021 to 2030. The report offers a detailed analysis of changing trends in the economy. market, major segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Coverage and Details of Airless Tire Market Report:
|Cover of the report||Details|
|Year of reference||2020|
|Market size in 2020||$ 46.1 million|
|Market size in 2030||$ 77.5 million|
|Number of pages in report||333|
|Covered segments||Material, vehicle type, sales channel, rim size, region.|
|Conductors||Rising demand for maintenance-free tires|
|Increased demand for all-terrain and military vehicles|
|Opportunities||Increased adoption of electric vehicles around the world in the coming years|
|Better recyclability of plastics|
|Retains||Poor performance during friction and high speed scenarios|
|High capital investment for the establishment of new manufacturing facilities|
- There were major challenges such as full capacity manufacturing, working capital management, regulatory and policy changes, supply chain execution, manpower shortage, and liquidity management. and solvency during the pandemic for airless tire manufacturers.
- Investments in R&D activities have been reduced and the pace of development of new technologies for solid or plastic tires has slowed down.
- Operational disruptions in the auto industry reduced demand for airless tires during the lockdown. However, demand increased gradually after the containment.
The report offers detailed segmentation of the global airless tire market on the basis of material, vehicle type, sales channel, rim size, and region.
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On the basis of materials, the plastic segment held the highest share in 2020, accounting for almost two-thirds of the total share, and is expected to maintain its leading status during the forecast period. However, the rubber segment is expected to post the highest CAGR of 6.8% from 2021 to 2030.
On the basis of vehicle type, the commercial vehicle segment had the highest share in 2020, contributing around two-fifths of the total global airless tire market share, and is expected to maintain its dominant share over the period. forecast period. However, the passenger and utility vehicle segment is expected to register the highest CAGR of 6.3% from 2021 to 2030.
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Based on region, Asia-Pacific contributed the largest share in 2020, accounting for about a third of the total share, and is expected to maintain its leadership status in terms of revenue by 2030. In addition, this region is estimated to represent the fastest CAGR of 6.2% during the forecast period. The research also analyzes regions such as North America, Europe and LAMEA.
- Ameritire Corporation
- Bridgestone Company
- Continental SA
- Hankook Tire & Technology Co., Ltd.
- Sumitomo Rubber Industries, Ltd.
- The Goodyear Tire & Rubber Company
- Toyo Tire Company
- The Yokohama Rubber Co., Ltd.
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