The Goodyear Tyre & Rubber Company, Bridgestone Corporation, Michelin North America, Inc, Toyo Tire Corporation, and Continental AG among others, are the major players in the global airless tyres market.
The global airless tyres market is expected to grow at a CAGR of 5% in the forecast period of 2023-2028. As per the analysis by Expert Market Research, the market is being driven by the increasing awareness regarding the benefits of airless tyres.
Airless tyres eliminate the requirement for refilling tyres with air, hence minimising the prevalence of flat tyres. They also offer high load-bearing capability, reduced carbon emissions, and enhanced driving performance, which is boosting their preference. In industrial applications in the mining, farming, and construction sectors, the utilisation of airless tyres to reduce incidences of tyre failures and boost overall efficiency and productivity is growing.
With the growing trend of sustainability, the demand for airless tyres is expected to increase as they are made from eco-friendly and recyclable materials. Various leading players are also developing cradle-to-cradle systems for such tyres to drive a circular economy. Furthermore, the simplified structure of airless tyres significantly minimises energy loss, which is anticipated to bolster the market growth.
The increasing focus to reduce maintenance and operation costs in utility, military, commercial, and utility vehicles is driving the market for airless tyres. The surging availability of airless tyres for commercial vehicles is further favouring the market development.
Several leading electric vehicle manufacturers are preferring airless tyres to boost the productivity and reliability of EVs. Moreover, technological advancements and innovations are expected to drive the development of airless tyres with enhanced flexibility and resistance to reduce the risk of accidents. The emerging trend of autonomous vehicles is also likely to boost the adoption of low-maintenance airless tyres with high operating capabilities.
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|Headquarters:||Ohio, United States|
Goodyear is one of the leading tyre manufacturers in the world. It manufactures, develops, and markets tyres for use in various applications across several end-use sectors. The company is also a leading tyre retreading centre and commercial truck service operator across the globe. It offers direct-to-consumer tyre sales through online channels and innovative services for the maintenance of shared passenger vehicles fleet.
Bridgestone is a prominent manufacturer of tyres and other rubber products for use in sporting goods and industrial materials. The company is also engaged in the production of automotive maintenance and repair services, automotive parts, and raw materials for use in tyres. Its expansive portfolio of premium tyres and other rubber solutions is marketed and sold in over 150 countries across the globe.
|Headquarters:||South Carolina, United States|
Michelin Tyres is a major mobility company that designs and supplies innovative solutions, services, and tyres to meet diverse consumer demands. The company actively invests in 3D printing and hydrogen as well as high-technology materials for serving prominent sectors, including biotechnology and aerospace. Moreover, it aims to leverage innovative technologies for advancing the development of sustainable solutions.
Toyo Tire & Rubber group is a prominent tyre and rubber products manufacturer, based in Japan. The tyre business accounts for nearly 90% of the company’s sales. Through its extensive research and development activities, Toyo intends to develop innovative automobile parts and integrate the latest technologies in the automotive sector. The company aims to advance the creation of a sustainable mobility sector by leveraging its cutting-edge expertise.
Continental AG is a technology company that is engaged in the development of innovative services and solutions for boosting connected mobility. By 2050, the company aims to achieve 100% emission-free mobility, a 100% responsible value chain, and complete carbon neutrality across its value chains. By utilising electrification, automation, and connectivity, among others, the company aims to boost the safety and comfort of automobiles.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.