Tubeless Tires Market: Introduction
The automotive industry is evolving continuously and various technical, structural, and manufacturing developments are being witnessed globally. Recently, OEMs have started adopting new technologies to manufacture tires and various other parts of vehicles. Tubeless tires do not have extra internal tire/tube unlike the earlier generation of tires. The thickness of these tires is less. Thus, to overcome this problem, tire manufacturers have developed advanced tubeless tires in which, the rate of air loss is considerably low as compared to earlier generation tires. These tires are more durable. Nowadays, majority of vehicles are equipped with tubeless tires, as the cost of a tubeless tire is high but its maintenance cost is very low as compared to a tube tire.
Global Tubeless Tires Market: Competitive Landscape
Founded in 1889, Michelin is one of the key players based in Europe operating in the global tire industry. Michelin primarily provides passenger vehicle tires and light truck tires, and is a strong player in the aftermarket segment. The company has global presence in 170 countries with 68 manufacturing facilities.
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The Goodyear Tire & Rubber Company
Established in 1898, The Goodyear Tire & Rubber Company is a leading brand globally. The company has its business across North America and Latin America, but it also has a prominent presence in other regions. It has 48 manufacturing facilities in approximately 22 countries. The company manufactures aviation tires, passenger vehicle tires, commercial vehicle tires, off-the-road tires, racing tires, and recreational vehicle tires.
Trelleborg AB was founded in 1905 and is headquartered in Trelleborg, Sweden. The company is among the leading suppliers of rubber equipment and related components. The company has over 24,045 employees and operations in more than 51 countries. The Trelleborg Group is a conglomerate with operations in several industries, such automotive, aerospace, agriculture, marine, and infrastructure.
THE YOKOHAMA RUBBER CO. LTD.
THE YOKOHAMA RUBBER CO. LTD. was founded in 1917 and is headquartered in Tokyo, Japan. The company is a major manufacturer and supplier of rubber products and related equipment to the automotive industry across the globe. The company also manufactures and supplies rubber products such as hoses, tires, etc. It offers products such as tires for passenger vehicles, commercial vehicles, etc.
Global Tubeless Tires Market: Dynamics
Benefits of Tubeless Tires Drive Demand
Tubeless tires are seamlessly integrated with wheels to reduce air loss. These tires eliminate the requirement of an internal extra tube for filling air. Tubeless tires are sturdy and support the vehicle weight. They also absorb vibrations. Since these tires are without tubes, they are not susceptible to blowouts and quick punctures. The adoption of these tires in vehicles by majority of automakers due to their lightweight, long-lasting, and low maintenance features is driving the global market. The grip of these tires on road is high as the base of the tire is broad.
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Global Tubeless Tires Market: Segmentation
The global tubeless tires market can be segmented based on:
- Vehicle Type
- Sales Channel
In terms of type, the global tubeless tires market can be bifurcated into:
- Radial Tires
- Bias Tires
Based on vehicle type, the global tubeless tires market can be divided into:
- Two Wheeler
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
On the basis of sales channel, the global tubeless tires market can be categorized into:
The report on the global tubeless tires market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
Regional analysis of the global tubeless tires market includes:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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.