Tubeless Tire Market is projected to Grow from a market size of USD 131.3 Billion in 2016 to USD 211.5 Billion in 2023 at a CAGR of 7.15%.
Pune, India — (SBWIRE) — 08/03/2018 — Global Tubeless Tire Market is segmented by Tire Type (Radial and Bias), Vehicle Type (Passenger car, commercial Vehicles, and Others), by Distribution Channel (OEM and Aftermarket), and by Region. Report provides comprehensive information on Tubeless Tire industry size, share, manufacturer, sales, and regional historical, forecast, and current market scenario with forecast to 2023.
Tubeless Tire Market Key Companies Analyzed In Report:
Bridgestone Corporation (Japan), The Goodyear Tyre & Rubber Company (U.S.), Madras Rubber Factory (MRF) Limited (India), CEAT Tyres ltd. (India), Continental Corporation (Germany), Michelin (France), Pirelli & C. S.p.A (Italy), Yokohama Tire Corporation (U.S.), Toyo Tire & Rubber Co., Ltd. (Japan) and Cooper Tire & Rubber Company (U.S.).
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Tubeless Tire Market Highlights:
The global Tubeless tire market is expected to witness significant growth over the forecast period. The growth of tubeless tire market is influenced by the Growth in automotive industry in developing countries, implementation of stringent vehicular emission & fuel economy norms, increase in production of vehicles and rising demand for radial tires. The increase in urbanization will lead to an increase in use of both, passenger and commercial vehicles, due to which there will be growth in automotive tubeless tires market. China is one of the most densely populated urban centers. Governments of various countries have taken initiatives to promote the manufacturing and adoption of tubeless tires by the manufacturers for controlling harmful emissions. Therefore, the introduction of stringent vehicular emission and fuel economy norms, drive the growth of the tubeless tires market.
Market by Segmentation:
Based on distribution channel, the market has been segmented as OEM and Aftermarket. The OEM segment is expected to contribute the maximum towards the growth of the tubeless tire market. Original equipment manufacturer (OEM) segment is expected to grow at a high rate as compared to aftermarket, due to rise in production of vehicles and increasing number of manufacturing facility of automotive OEM in the developing regions.
Based on vehicle type, the market has been segmented as passenger cars, commercial vehicle and others. The passenger car segment accounted for the highest market share in the automotive tubeless tire market. In 2016, as per the OICA Car Association, approximately 69 million passenger cars were sold across the globe, which is boosting the demand for tubeless tires in automotive industry. The demand for automotive tubeless tires is also increasing due to factors such as increasing life span of vehicles, and increasing annual average annual miles travel by passenger cars.
Asia-Pacific region is expected to be the largest market of tubeless tire market during the forecast period. Asia Pacific has the largest automotive tubeless tire market, owing to rise in automotive industry in countries such as China, Japan, and South Korea. The increase in the penetration level of passenger cars and two wheelers in the region, is boosting the demand for tubeless tires. The increase in sales of the automobiles in the region can be attributed to factors such as increasing per capita income, increased infrastructure spending, attractive FDI from governments and economic production cost. Asia Pacific region has ample number of tire manufacturing plants due to huge rubber production, low labor cost and favorable government policies. Asia Pacific is expected to continue its dominance in the global tubeless tire market, owing to projected increase in the region's vehicle production, sales and vehicle fleet.
The report for Tubeless Tire Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
List of Tables:
TABLE 1 MARKET SYNOPSIS
TABLE 2 GLOBAL TUBELESS TIRE MARKET, BY TIRE TYPE, 2015–2023 (USD BILLION)
TABLE 3 GLOBAL TUBELESS TIRE MARKET, BY VEHICLE TYPE, 2015–2023 (USD BILLION)
TABLE 4 GLOBAL TUBELESS TIRE MARKET, BY DISTRIBUTION CHANNEL, 2015–2023 (USD BILLION)
TABLE 5 GLOBAL TUBELESS TIRE MARKET, BY REGION, 2015–2023 (USD BILLION)
TABLE 6 NORTH AMERICA: TUBELESS TIRE MARKET, BY COUNTRY, 2015–2023 (USD BILLION)
TABLE 7 NORTH AMERICA: TUBELESS TIRE MARKET, BY TIRE TYPE, 2015–2023 (USD BILLION)
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