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Global Run Flat Tyre Market Size, Share, Growth, Price, Forecast: By Tyre Type: Self-Supporting Type, Support Ring Type; By Vehicle Type: Passengers Cars, LCV, HCV; By RIM Size: 17 Inch, 18 Inch, 19 Inch, 20 Inch, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2023-2028
Global Run Flat Tyre Market Outlook
The global run flat tyre market size is assessed to grow at a CAGR of 4.50% between 2023 and 2028, driven by the rising applications of run flat tyres in different classes of vehicles and the growing awareness about the benefits of run flat tyres among consumers.
Key Trends in the Market
Run flat tyres are a type of pneumatic tyre, specially designed to allow the driver to continue even after experiencing a puncture or air loss. These tyres are designed with a reinforced sidewall that can support the weight of the vehicle and maintain stability, even when the tyre is completely flat. There are different types of run flat tyres, some of which can be driven for up to 50 miles at a reduced speed, while others can be driven for a shorter distance at normal speeds.
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- One of the major factors driving the run flat tyre market growth is the rising sales of commercial and passenger cars. These tyres are increasingly being used in vehicles of different sizes as they are more stable compared to traditional tyres.
- A significant market trend is a rising need for run flat tyres in high-performance vehicles. These tyres are specially engineered to enable a vehicle to keep moving for a brief distance, even when there is a drop in air pressure. This feature is particularly crucial for high-performance cars that frequently run at high speeds.
- Another major factor propelling the run flat tyre market expansion is the rising sales of the product due to the increasing awareness among consumers about road safety. Run flat tyres provide better safety as they do not lose control in the case of tyre blowout or puncture.
Market Analysis
Based on tyre type, the market is bifurcated into self-supporting and support ring types. On the basis of vehicle type, the market can be segmented into passenger cars, LCV, and HCV. Based on rim size, the market is divided into 17 inch, 18 inch, 19 inch, and 20 inch, among others. The major regional markets for run flat tyres are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global run flat tyre market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- The Michelin Group
- Bridgestone Corporation
- Continental AG
- The Goodyear Tire & Rubber Company
- Pirelli & C. S.p.A.
- Yokohama Tire Corporation
- Hankook Tire & Technology Co., Ltd
- Zhongce Rubber Group Co., Ltd.
- Maxxis International
- Toyo Tire Corporation
- Others
Market Share by Type
Self-supporting type of run flat tyres is expected to hold a significant share of the market due to its advantageous properties that enable the vehicle to continue moving on a flat tyre for a significant distance. This type of tyre removes the need for carrying a spare tyre, enhancing the fuel efficiency of the vehicle.
Self-supporting tyres eliminate the requirement for immediate puncture repair. Manufacturers combine polyimide with glass fibre and rubber for developing sidewalls of such tyres; this addition makes them capable of carrying the car’s weight.
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Market Share by Vehicle Type
he Asia Pacific region is expected to hold a significant run flat tyre market share, attributed to its large population, the rapidly growing automotive sector, and evolving vehicle safety standards. In particular, India is expected to dominate the market due to its substantial investment in the tyre sector.
On the other hand, Europe is projected to witness healthy growth in the forecast period due to strict regulations imposed by governments to reduce road fatalities.
Competitive Landscape
The Michelin Group is a tyre manufacturing company and one of the global leaders in the tyre sector. It has been operating since 1889 and it is currently headquartered in Clermont-Ferrand, France. It has successfully developed and manufactured services and tyres for most types of vehicles, including aeroplanes, automobiles, bicycles, motorcycles, earthmovers, farm equipment, and trucks.
Bridgestone Corporation is one of the largest international tyre manufacturing companies. It is a Japanese company, and it was founded in 1931. The company has developed a diverse product portfolio with products, ranging from tyres to products such as rubber tracks and conveyor belts, among others. It has also developed advanced tyres for various types of vehicles such as passenger cars, trucks, busses, aircraft, and construction vehicles.
Continental AG., commonly known as Continental, is one of the largest automotive parts manufacturing companies in the world. It was founded in 1871 in Hanover, Germany and has developed a wide range of high-quality products to offer a safe, efficient, intelligent, and affordable solution for vehicles, machines, and transportation.
Other market players include The Goodyear Tire & Rubber Company, Pirelli & C. S.p.A., Yokohama Tire Corporation, Hankook Tire & Technology Co., Ltd., Zhongce Rubber Group Co., Ltd., Maxxis International, and Toyo Tire Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Tyre Type |
|
| Breakup by Vehicle Type |
|
| Breakup by RIM Size |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Run Flat Tyre Market Analysis
8.1 Key Industry Highlights
8.2 Global Run Flat Tyre Historical Market (2018-2022)
8.3 Global Run Flat Tyre Market Forecast (2023-2028)
8.4 Global Run Flat Tyre Market by Tyre Type
8.4.1 Self-Supporting Type
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Support Ring Type
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.5 Global Run Flat Tyre Market by Vehicle Type
8.5.1 Passengers Cars
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 LCV
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 HCV
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.6 Global Run Flat Tyre Market by RIM Size
8.6.1 17 Inch
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 18 Inch
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 19 Inch
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 20 Inch
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Run Flat Tyre Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Run Flat Tyre Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Run Flat Tyre Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Run Flat Tyre Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Run Flat Tyre Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Run Flat Tyre Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 The Michelin Group
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Bridgestone Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Continental AG
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 The Goodyear Tire & Rubber Company
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Pirelli & C. S.p.A.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Yokohama Tire Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Hankook Tire & Technology Co., Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Zhongce Rubber Group Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Maxxis International
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Toyo Tire Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Run Flat Tyre Market: Key Industry Highlights, 2018 and 2028
2. Global Run Flat Tyre Historical Market: Breakup by Tyre Type (USD Million), 2018-2022
3. Global Run Flat Tyre Market Forecast: Breakup by Tyre Type (USD Million), 2023-2028
4. Global Run Flat Tyre Historical Market: Breakup by Vehicle Type (USD Million), 2018-2022
5. Global Run Flat Tyre Market Forecast: Breakup by Vehicle Type (USD Million), 2023-2028
6. Global Run Flat Tyre Historical Market: Breakup by RIM Type (USD Million), 2018-2022
7. Global Run Flat Tyre Market Forecast: Breakup by RIM Type (USD Million), 2023-2028
8. Global Run Flat Tyre Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Run Flat Tyre Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Run Flat Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Run Flat Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Run Flat Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Run Flat Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Run Flat Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Run Flat Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Run Flat Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Run Flat Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Run Flat Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Run Flat Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Run Flat Tyre Market Structure
Key Questions Answered in the Report
The market is assessed to grow at a CAGR of 4.50% between 2023 and 2028.
The major driving factors of the market include the increasing use of run flat tyres in commercial and passenger vehicles and raising awareness about road safety.
The development of the next generation of run flat tyres with improved performance and the increasing use of run flat tyres in high-performance vehicles are key trends propelling the market growth.
The major regions in the run flat tyre market include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
The different tyre types considered in the market report include self-supporting and support ring types.
The various vehicle types considered in the market report passenger cars, LCV, and HCV.
The several rim sizes of the product include 17 inch, 18 inch, 19 inch, and 20 inch, among others.
The key player in the global run flat tyre market includes The Michelin Group, Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Pirelli & C. S.p.A., Yokohama Tire Corporation, Hankook Tire & Technology Co., Ltd., Zhongce Rubber Group Co., Ltd., Maxxis International, and Toyo Tire Corporation, among others.
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