Get In Touch

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

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Non Pneumatic Tire Market