New Research Report Explores Automotive Tubeless Tires Market Till 2022

Dublin 2, Ireland, 2018-Jan-22 — /EPR Network/ — The research study examines the “Global Automotive Tubeless Tires market report 2017” on the basis of a number of criteria, such as the product type, application, and its geographical presence. The whole supply chain of this market has been explained with statistical details with a special emphasis on various upstream and downstream components. The current trends pertaining to the demand, supply, and sales of Global automotive Tubeless Tires market report 2017, together with the recent developments have been given here to provide an exhaustive picture of this market.

While tubeless tires are not exactly the puncture-proof alternative in the global tires market, their adoption is certainly expected to gain traction owing to their competitive advantage over tubular tires and non-pneumatic tires. Sales of tubeless tires continues to gain grounds in the global market, particularly due to their significance in lowering the incidence of flat tires, and affordable & easy repair. Vehicle owners are aware that punctures, which have the potential to put valuable logistic operations to a standstill, can be effectively avoided through adoption of tubeless tires.

Tubeless tires are a sub-type of pneumatic tires which come without a separate inner tube. Due to absence of inner tube, tubeless tires are vacuum-packed with the help of liquid sealants applied across the continuous ribs of the tire. With these ribs molded into the tire’s beads, tubeless tires can hold air under desired pressure, and are wrapped across the flanges of metal wheel rim.

The Fact.MR report on global tubeless tires market projects that by the end of 2017, over US$ 140 Bn worth of tubeless tires will get sold across the globe. Considering the harsh environments and low temperatures related to global transit operations, the adoption of tubeless tires is expected to gain traction owing to their efficiency in working at low pressures. Towards the end of 2022, the global market for tubeless tires is expected to have touched US$ 193 Bn value, reflecting a robust CAGR over the forecast period.

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Predominant Demand for Radial Tubeless Tires

Radial tires have effectively revolutionized the world of tires ever since their advent in 1940s, and are predicted to remain dominant in the global market for tubeless tires. The ability of radial tires to allow the sidewall and the tread of the tire to work independently gives them competitive edge over bias tires. In addition to this, radial tubeless tires are more flexible, stronger and better shock absorbers than their bias counterparts. The demand for radial tubeless tires is also expected to remain prevalent owing to their significance in lowering transversal slip of vehicles, and their capability transferring maximum torque to the vehicle through limited friction. With over three-fourth share on global revenues, sales of radial tubeless tires in the global market will surpass over US$ 150 Bn by 2022-end.

Aftermarket Sales of Tubeless Tires to Witness an Upsurge

The report has analyzed global sales of tubeless tires till date, inferring an outright dominance of aftermarket distribution of tubeless tires. While OEMs will strive to attain higher share as distribution channel in the global tubeless tires market, the aftermarket sales of tubeless tires are expected to gain steadfast growth pertaining to the rising customization needs of vehicle owners. In 2017, aftermarket sales of tubeless tires are expected to procure over three-fifth share on the global market value.

In terms of technology, the demand for tubeless tires developed on heated, and powered & heated production techniques will witness steady growth. The global sales of tubeless tires indicate a robust demand for tubeless tires developed on standard technology. Between 2017 and 2022, standard technology is anticipated to create an incremental opportunity of nearly US$ 38 Bn in the global tubeless tire market.

While passenger cars will be viewed as the largest end-use vehicle for tubeless tires, their adoption among two-wheeler/motorcycle owners is also expected to witness an upsurge. Through 2022, global sales of tubeless tires for two-wheelers will have procured over US$ 35 Bn in revenues.

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Key Projections of Global Tubeless Tire Market

1- With more than three-fourth share, global sales of radial tubeless tires will procure highest revenues in the global tubeless tire market. While the report observes radials as top-selling products in the tubeless tire market, bias tires will also witness a steady growth in terms of demand.

2- China, South Korea and India are among the key countries located in the Asia-Pacific excluding Japan (APEJ) region that are at the forefront of global automobile production. The demand for tubeless tires is anticipated to remain high in the APEJ region owing to the manufacturing presence of majority of leading automakers. The report anticipates that throughout the forecast period, the APEJ region will be observed as the largest market for tubeless tires.

3- Sales of tubeless tires in the US and Canada is anticipated to gain traction pertaining to the positive attitudes of car owners towards performance driving. Towards the end of 2022, North America’s tubeless tire market will have soared at the fastest pace, recording a CAGR of 7.3%.

4- The tubeless tire market in Europe will also witness steady growth through 2022. Considering the rising demand for performance vehicles across European countries, this region will witness a persistent growth in demand for tubeless tires.

5- In 2017, more than two-fifth of revenues procured from global sales of tubeless tires will be accounted by passenger cars. By the end of 2022, over US$ 86 Bn worth of tubeless tires will be sold globally for their use in passenger cars.

6- In terms of distribution, aftermarkets for tubeless tires will be observed as the largest distribution network in the global market. Compared to the aftermarket sales of tubeless tire, OEMs will translate lesser revenues. Customization needs of vehicle owners will instrument the dominance of aftermarket sales in global distribution of tubeless tires.

7- On the basis of technology, powered tubeless tires will procure a relatively lower revenue share, compared to standard tubeless tires. By the end of 2022, over US$ 38 Bn worth of tubeless tires developed powered air filling will be sold in the global market.

Competition Tracking

The report has also profiled leading manufacturers of tubeless tires which are expected to stay active in expansion of global tubeless tires market through 2022. Companies such as Bridgestone Corporation, The Yokohama Rubber Co. Ltd., Michelin North America Inc., The Goodyear Tyre & Rubber Company, Madras Rubber Factory Limited, Apollo Tyres Ltd., Pirelli & C. S.p.A., Cheng Shin Rubber Industry Co., Sumitomo Rubber Industries Ltd., and Continental AG are expected to remain key players in the global tubeless tire market.

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