Automotive Tubeless Tire Market is segmented by Tire Type (Radial and Bias), Vehicle Type (Passenger car, commercial Vehicles, and Others), Distribution Channel (OEM and Aftermarket), and Region. Automotive Tubeless Tire Market Picks Up Highest Speed in APAC. Rising Sale of Passenger Cars to Intensify Growth of Automotive Tubeless Tire Market. Automotive Tubeless Tire market had expanded to the size of USD 131.3 Billion in 2016 and is expected to reach the valuation of USD 211.5 Billion by 2023, says the latest report by Market Research Future (MRFR). It could achieve a CAGR of 7.15% during the forecast period (2015-2023).
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CEAT Tyres ltd. (India), The Goodyear Tyre & Rubber Company (U.S.), Madras Rubber Factory (MRF) Limited (India), Bridgestone Corporation (Japan), Yokohama Tire Corporation (U.S.), Michelin (France), Pirelli & C. S.p.A (Italy), Toyo Tire & Rubber Co., Ltd. (Japan), Cooper Tire & Rubber Company (U.S.), Continental Corporation (Germany) are among the most significant players in the global Automotive Tubeless Tire market.
Drivers and Key Restraints:
Automotive Tubeless Tires have replaced traditional pneumatic tires, given the enhanced safety and reliability they offer. It is safer to drive vehicles at high speed with Automotive Tubeless Tires in case of a high-speed puncture. Besides, these tires have longer lives compared to their pneumatic counterparts. Low maintenance, longer operational life, and easy repair are some appealing qualities that boost their demand in the market.
Surge in the number of passenger vehicles is projected to work in favor of the market in the coming years. Consumers nowadays are increasingly going for Automotive Tubeless Tires as these are safer compared to the traditional ones. Rise in urbanization has given a significant boost to the sale of passenger, and commercial vehicles since high use of these cars also augment demand for Automotive Tubeless Tires.
Government bodies of several countries are implementing initiatives that encourage manufacturing and adoption of Automotive Tubeless Tires by manufacturers to curb toxic emissions. Thus, introduction of rigid vehicular emission and fuel economy norms could benefit the Automotive Tubeless Tires market in the long run.
The worldwide Automotive Tubeless Tire market can be split into tire type, vehicle type, and distribution channel.
The types of tires enlisted in the report are radial and bias.
Depending on vehicle type, the market caters to passenger cars, commercial vehicle, and others. The passenger car segment has noted the highest traction in the automotive Tubeless Tire market. In 2016, the OICA Car Association had estimated that roughly 69 million passenger cars had been sold around the world. These statistics are clearly indicative of the rising demand for passenger cars and the consequent hike in demand for Automotive Tubeless Tires.
With respect to distribution channel, the market can be narrowed down to original equipment manufacturer (OEM) and aftermarket. The OEM segment’s coverage of the Automotive Tubeless Tire market is expected to be maximum in the following years. The segment’s robust growth is in response to the increasing in production of vehicles coupled with rising number of manufacturing facilities of automotive OEM across developing regions.
Asia Pacific (APAC), North America, Middle East & Africa and Europe are the key markets for Automotive Tubeless Tire and have been studied extensively to get an acute understanding of the latest trends.
APAC is expected to reign over other regions in the global Automotive Tubeless Tire market during the conjectured timeframe. The region is known for housing the biggest Automotive Tubeless Tire market given the booming automotive industry in economies like Japan, South Korea and China. The boost in the sale of passenger cars and two-wheelers helps elevate the demand for Automotive Tubeless Tires in the region. This increased demand for automobiles in the region is the result of rising per capita income, growing infrastructure spending and attractive FDI from governments. The region is also endowed with many tire manufacturing plants on account of huge rubber production and low labor cost.
North America could emerge as a highly market for Automotive Tubeless Tires soon. Market growth in the region is the outcome of constant technological innovations within the tire industry. Adoption of advanced technologies in the field has given rise to lightweight Automotive Tubeless Tire as well as the aftermarket for Automotive Tubeless Tire.
In Europe, owing to recognized benefits of Automotive Tubeless Tires, renowned vendors are focusing more on intensifying their production capacity to elevate their overall competency. Therefore, new entrants are also striving to make a paradigm shift in a bid to catch up to the competition in the region. Apart from this, increasing use of ecommerce portals expedites the sales, which augments the market reach in the region. Additionally, discounts and offers offered by these portals result in better rate of conversion.
CEAT Limited is set to collaborate with Hyundai to develop a new car called Venue. SecuraDrive Automotive Tubeless Tires have been designed by CEAT for the model and is expected to come out in 215/60R16 size. These Automotive Tubeless Tires enhance the driving experience and offer better control at high speed.
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)
TABLE 8 NORTH AMERICA: TUBELESS TIRE MARKET, BY VEHICLE TYPE, 2015–2023 (USD BILLION)
TABLE 9 NORTH AMERICA: TUBELESS TIRE MARKET, BY DISTRIBUTION CHANNEL, 2015–2023 (USD BILLION)
TABLE 10 U.S.: TUBELESS TIRE MARKET, BY TIRE TYPE, 2015–2023 (USD BILLION)
TABLE 11 U.S.: TUBELESS TIRE MARKET, BY VEHICLE TYPE, 2015–2023 (USD BILLION)
TABLE 12 U.S.: TUBELESS TIRE MARKET, BY DISTRIBUTION CHANNEL, 2015–2023 (USD BILLION)
List of Figures:
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 DRIVERS, RESTRAINTS AND OPPORTUNITIES FOR GLOBAL TUBELESS TIRES MARKET
FIGURE 4 TOTAL PRODUCTION OF CARS IN CHINA, 2014-2016
FIGURE 5 SALES OF NEW VEHICLE, 2013-2016
FIGURE 6 PORTER’S 5 FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
FIGURE 8 GLOBAL TUBELESS TIRE MARKET SIZE, BY TIRE TYPE, 2016-2023 (USD BILLION)
FIGURE 9 TOTAL SALES OF PASSENGER CARS (UNITS, IN MILLION)
FIGURE 10 TOTAL SALES OF COMMERCIAL VEHICLES (UNITS, IN MILLION)
FIGURE 11 GLOBAL TUBELESS TIRE MARKET, BY VEHICLE TYPE, 2015-2023 (USD BILLION)
FIGURE 12 GLOBAL TUBELESS TIRE MARKET, BY DISTRIBUTION CHANNEL, 2015-2023 (USD BILLION)
FIGURE 13 GLOBAL TUBELESS TIRE MARKET, BY REGION, 2015 VS 2023 (USD BILLION)
FIGURE 14 KEY TRENDS OF INDIA TYRE INDUSTRY
FIGURE 15 TUBELESS TIRE MARKET: MARKET SHARE ANALYSIS
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