Non-Pneumatic Tire Market Growing & Building a New Perception in Global Tire Industry

Global Non-Pneumatic Tires Market projected to grow at a CAGR of 11.0% During Forecast Period 2016-2024

According to Goldstein Research, global non-pneumatic tires market is growing at a compounded annual growth rate of 11.0% during the forecast period 2016-2024. With the increase in the application of non-pneumatic tires in electric vehicles, military grade vehicles & off-road vehicles, the global non-pneumatic tires market is anticipated to acquire 3%-4% market share of global tires market. Non-pneumatic tires market is at a nascent stage, but its feature which eliminates the problem of air leaks/flat tires is expected to increase the demand in off-the-road vehicles.

The global off-the-road (OTR) tires market is growing at a CAGR of 4.2% during the forecast period and thus provides the highest growth opportunities for global airless tires market in terms of penetration. Global non-pneumatic tires market segmentation has been carried out on the basis of vehicle type, usage type, and geography.

On the basis of geography, global non-pneumatic tire industry is dominated by North America market share owing to high demand from U.S. army coupled with high R&D & innovation activities carried out in the region by the manufacturers. On the other hand, huge Asia Pacific automobile industry, the automotive manufacturers are expected to adopt non-pneumatic tires in near future.

Market Segmentation

On the basis of our in-depth analysis, Global Non-Pneumatic Tires Market can be segmented as follows:

By Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles

By Usage Type

  • Multi Utility Vehicles
  • All Terrain Vehicles
  • Material Handling Equipment
  • Motorbikes and Bicycles
  • Low-Speed Electric Vehicles (LSEV)
  • Passenger Cars
  • Military Vehicles
  • Other (Lawnmowers, Trailers etc.) 

By Region

  • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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Non-Pneumatic Tires Market Analysis contains the detailed overview of the global non-pneumatic tires market. On the basis of our in-depth analysis, a market can be segmented in terms of market segmentation by vehicle type and usage type.

Further, for the in-depth analysis, Global Non-Pneumatic Tires Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market research report also includes competitive outlook of some of the major players profiling of companies such as Bridgestone Corporation, Goodyear Tire and Rubber Company, Michelin Inc., Hankook Tire Group, Yokohama Tire Corp., Resilient Technologies, Crocodile Tyres, Big Tyre, Toyo Tire & Rubber Co. LTD., Pioneer Corporation, etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global non-pneumatic tires market size along with a market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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