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Non-pneumatic Tire Market

Non-pneumatic Tire Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Non-pneumatic Tire Market: Introduction

  • Rising popularity of non-pneumatic tires for heavy commercial vehicles such as armored trucks, backhoes and cranes, owing to increasing advantages and adoption of airless tires, is expected to drive the market during the forecast period.
  • Non-pneumatic tires are air-free tires, which are not supported by any air pressure. Non-pneumatic tires are made from closed-cell polyurethane foam, which offers several advantages such as the tires are puncture-resistant; they possess has high stability and requires low maintenance cost as compared to that required by conventional tires.  Moreover, these tires does not need frequent replacement.

Key Drivers of Non-pneumatic Tire Market

  • Eliminating air leaks from the tires and avoiding tire blow outs are considered as key benefits due to which they are widely adopted for logistics and industrial process handling. Forklift trucks, platform trucks, airport vehicles, and heavy-duty commercial and transport vehicles opt for non-pneumatic tires, as they are used for heavy load transport in warehouses and industrial processes where tires wear out easily. Moreover, vehicles with airless tires can carry more weight and can engage in more rugged activities, which further boosts the non-pneumatic tires market.
  • Increasing use of non-pneumatic tires in military and defense sector for their armored vehicles also propels the market. Tires are considered as major disadvantage or weak point in military armored vehicles, as they are easily targeted with several explosives. However, the use of non-pneumatic tires in these vehicles shows positive impact in terms of safety of the vehicles, as these tires can take gunfire shots or withstand an explosion. Moreover, non-pneumatic tires do not require any maintenance cost and can be recycled; therefore, they are extensively utilized in several industries.

Challenges in Non-pneumatic Tire Market

  • Use of non-pneumatic tires for passenger cars can lead to high consumption of fuel and a decline in the overall speed of the vehicle. Moreover, high cost is required for building a new manufacturing facility for non-pneumatic tires and a large amount of material is used for manufacturing non-pneumatic tires as compared that required for conventional tire. Therefore, consistent volatility in prices of raw materials can hamper the demand for non-pneumatic tires.
  • The outbreak of the COVID-19 pandemic prompted governments to impose lockdowns across the world and subsequently all the tire manufacturing facilities were closed, which hindered the demand for non-pneumatic tires. Likewise, the COVID-19 pandemic also hampered global supply chains that resulted in shortage of supply of raw material that is required in the manufacture of tires, which in turn hampered the market.

Opportunities in Non-pneumatic Tire Market

  • Rising technological advancements in non-pneumatic tires reduces the noise and vibration generated by tires; hence, these tires are being increasing adopted in heavy load applications. This, in turn, is expected to propel the non-pneumatic market during the forecast period. Moreover, non-pneumatic tires are utilized in several applications such as construction, farming, manufacturing, and mining sectors due to their environment friendly designs and high load bearing capabilities.
  • Others significant benefits of non-pneumatic tires are that they do not have an adverse effect on the environment and they can still function with missing or damaged spokes; consequently, they are expected to witness high demand for different applications. Moreover, the demand for non-pneumatic tires is also rising in the aftermarket segment, which in turn is projected to create an opportunity for the market.

Non-pneumatic Tire Market in Europe to Expand Significantly

  • Popularity of non-pneumatic tires is increasing in Asia Pacific due to rising infrastructural development and the economic growth, which is boosting urbanization in several countries such as China, India, South Korea, Thailand, and Malaysia. Japan and China are leading manufacturers of tires across the world, owing to the presence of key market players in the region such as Michelin, Bridgestone, Goodyear, Yokohama, Hankook, and Kumho. Moreover, the demand for aftermarket non-pneumatic tires is considerably high in Asia Pacific as compared to OEM tires, due to easily availability of raw materials and high consumption rate of tires in the region.

Key Players Operating in Non-pneumatic Tire Market

The non-pneumatic tire market is moderately consolidated. A few of the key players operating in the global non-pneumatic tire market are:

  • Bridgestone Corporation
  • The Goodyear Tire and Rubber Company
  • Michelin Inc.
  • Continental AG
  • Trelleborg AB
  • GRI Tires
  • Hankook Tire Group
  • Sumitomo Rubber Industries, Ltd.
  • Resilient Technologies
  • Crocodile Tyres
  • Big Tyre
  • Toyo Tire and Rubber Co. LTD.
  • SciTech Industries

Global Non-pneumatic Tire Market: Research Scope

Global Non-pneumatic Tire Market, by Material

  • Rubber
  • Plastic

Global Non-pneumatic Tire Market, by Rim Size

  • Below 18”
  • Between 19”-24”
  • Above 24”

Global Non-pneumatic Tire Market, by Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicle
  • Heavy-duty Commercial Vehicle

Global Non-pneumatic Tire Market, by Sales Channel

  • OEM
  • Aftermarket

Global Non-pneumatic Tire Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
Non-pneumatic Tire Market

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