Tubeless Tire Market Forecasts to 2028 – Global Analysis By Carcass Material (Steel Belted, Polyester Belted, Nylon, All Steel, Rayons and Other Carcass Materials), Construction (Radial and Bias), Vehicle Type, Rim Size, Technology, Sales Channel and By G

Tubeless Tire Market Forecasts to 2028 – Global Analysis By Carcass Material (Steel Belted, Polyester Belted, Nylon, All Steel, Rayons and Other Carcass Materials), Construction (Radial and Bias), Vehicle Type, Rim Size, Technology, Sales Channel and By Geography

According tStratistics MRC, the Global Tubeless Tires Market is accounted for $186.44 billion in 2022 and is expected treach $267.47 billion by 2028 growing at a CAGR of 6.19% during the forecast period. Tubeless tire is an inflated tire that doesn't require any kind of inner. It is a pneumatic vehicle tire where the air chamber is integrated intthe tire's rubber casing. The tubeless tire has a molded rim that helps seal the flanges of the wheel rim by forcing air intthe tire. The removal of an inner tube makes tubeless tires safer and more environmentally friendly than conventional tires. The tire and the rim in the tubeless tire form an airtight seal, which exerts a pressure and does not allow the tire tpuncture easily. It provides advantages such as easy puncture repair, more comfortable for higher speed, lower tire pressure, better bump absorption and reduced rotating weight.

According tthe Japan Automobile Manufacturers Association reports, around 7.70 million cars were produced in 2019 while more than 2.98 million cars were sold during the same period and the automotive tubeless tires expanded at an impressive 7.3%.

Market Dynamics:

Driver:

Flourishing automobile sector

The tire business is being driven by the increase in vehicle manufacturing and the growing demand for passenger cars throughout the world. The tyre makers have been battling tadjust production techniques tsatisfy shifting trends and needs. The business has undergone a transformation attributed tdigitization, globalization and rising competition which is driving the growth of the market.

Restraint:

Increased demand for airless tires

The expansion of the automotive tubeless tires market is anticipated tbe constrained by the rising demand for airless tires in specific cars. It does not fit easily as the tyre needs tbe fixed airtight against the alloy/rim thold air. As well as, leaking through the rim cavity, large capital expenditures for manufacturing and price volatility are impeding market expansion.

Opportunity:

New technology advancements

Traise productivity and meet the growing demand, the participants in the Tubeless Tires market are moving toward automation in the automobile tire manufacturing process. The development of composite materials and the use of carbon fiber and metals in tire manufacturing will have a beneficial impact on market expansion.

Threat:

High cost of raw materials

Tubeless tyres need tbe made more accurate than standard tyres. So, they are made up of raw materials such as fiber and composite metals. On the other hand, radialization is increasing on the subcontinent which is increasing the cost of raw materials drastically. For the factors such as durability and high performance the costs are significantly rising which is hampering the growth of market.

Covid-19 Impact

Traffic volume has plummeted by roughly 40% since Covid-19. Several borders have been closed in an effort tstop the disease's spread. The demand for tires and tire-related goods has decreased, which is similar tthe nationwide reduction in traffic levels. The decline in consumer purchases from neighbourhood tire merchants is a major factor in the decline in wholesale sales. The market is witnessing profits back in the post pandemic.

The passenger car segment is expected tbe the largest during the forecast period

The passenger car segment is estimated thave a lucrative growth, due tits improved fuel efficiency and safety. Tubeless tires provide a number of benefits, such as less weight, less vulnerability tpunctures, and improved handling. Tubeless tires increasing appeal in the passenger car market may be ascribed tboth their superior quality and excellent fuel efficiency. Also, they assist motorists in maintaining control of their vehicles on slick surfaces, reducing the likelihood of collisions which drives the segment growth.

The radial segment is expected thave the highest CAGR during the forecast period

The radial segment is anticipated twitness the fastest CAGR growth during the forecast period, due tits resistance. In contrast tbias tires, radial tubeless tires have cords that run from bead tbead thold the air pressure within the tire. It can be inflated much higher than a regular tire without fear of bursting. It provides a number of benefits, including being lighter, more puncture-resistant, and less prone tsidewall damages which is fuelling the segment growth.

Region with largest share:

Asia Pacific is projected thold the largest market share during the forecast period owing tthe raising government initiatives. The rising disposable income is increasing vehicle ownership rates. The high demand for passenger vehicles and commercial vehicles in this region and the presence of major tire manufacturers in this region is alsa key factor contributing tits dominance.

Region with highest CAGR:

Europe is projected thave the highest CAGR over the forecast period, owing tthe increasing demand from passenger vehicles and commercial vehicles manufacturers. Factors such as rising disposable income rates and increasing vehicle production are alsfueling the growth of this market during the forecast period.

Key players in the market

Some of the key players profiled in the Tubeless Tires Market include Continental AG, Yokohama Tire Corporation, Bridgestone Corporation, SumitomRubber Industries Ltd, ToyTire & Rubber Co, Bridgestone Corporation, CEAT Ltd, Hankook Tire Co, MICHELIN, KumhTire Co, MRF Limited, Pirelli Tyre SPA, ApollTires Ltd, Goodyear Tire & Rubber, Cooper Tire & Rubber Company and CST.

Key Developments:

In March 2023, Yokohama Off-Highway Tires America, Inc introduced the Galaxy HippAll-Steel Radial Tire. The high-traction pattern is ideal for loaders working in dirt on construction sites, or on farms and dairies.

In December 2022, CEAT launches all-terrain tyre CrossDrive, for SUVs in India, targets world markets also. CrossDrive incorporates CEAT’s cutting-edge 3D sipe technology and robust should design that helps the tyre adapt tall-terrain applications.

In September 2021, Continental continues texpand its product range, with premieres for air suspension dampers, compressors and thermostats. Air suspension dampers, compressors and coolant thermostats complement the automotive supplier’s aftermarket product range
In this way Continental is continuing its drive toward “Everything from a single source’.

Carcass Materials Covered:
• Steel Belted
• Polyester Belted
• Nylon
• All Steel
• Rayons
• Other Carcass Materials

Constructions Covered:
• Radial
• Bias

Vehicle Types Covered:
• Two-Wheeler
• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Other Vehicle Types

Rim Sizes Covered:
• 13-15 Inch
• 16-18 Inch
• 19-21 Inch
• 22-26 Inch

Technologies Covered:
• Standard
• Heated
• Powered
• Powered & Heated

Sales Channels Covered:
• Aftermarket
• Original Equipment Manufacturer (OEM)

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements