Home Trending News Automotive Tubeless Tires Market Expected to Grow USD 192.8 billion by 2024

Automotive Tubeless Tires Market Expected to Grow USD 192.8 billion by 2024

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 “Global Automotive Tubeless Tires Market Outlook 2024: Global Opportunity And Demand Analysis, Market Forecast, 2018-2024” presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and deal landscapes.

Top Leading Companies are Goodyear Tire and Rubber Company (Synopsis, Financial Analysis, Business Strategy, Product Portfolio, SWOT Analysis), Yokohama Tires, Bridgestone Corporation, Continental AG, Pirelli Tire S.p.A, Sumitomo Rubber Industries, Ltd, Hankook Tire Co. Ltd., Toyo Tire & Rubber Co. Ltd., MICHELIN, MRF, CEAT, Apollo Tyres, Kumho Tyre, Alliance Tire Group.

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Essential points covered in Global Automotive Tubeless Tires Market 2018 Research are:-

  • What will the market size and the growth rate be in 2024?
  • What are the key factors driving the Global Automotive Tubeless Tires market?
  • What are the key market trends impacting the growth of the Global Automotive Tubeless Tires market?
  • What are the challenges to market growth?
  • Who are the key vendors in the Global Automotive Tubeless Tires market?
  • What are the market opportunities and threats faced by the vendors in the Global Automotive Tubeless Tires market?
  • What are the key outcomes of the five forces analysis of the Global Automotive Tubeless Tires market?

This independent 220 pages report guarantees you will remain better informed than your competition. With over 170 tables and figures examining the Automotive Tubeless Tires market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2024.

Market Overview:

Tubeless tires are introduced to overcome the drawbacks of conventional tires. The rim and tire together form an airtight container to seal the air inside. Tubeless tires provide advantage of safety as the tubeless tires does not loose air instantly in case of puncture of tires, giving sufficient time to the driver to control vehicle. Tubeless tire provides various other advantages over conventional tires like better heat dissipation and better fuel efficiency. These advantages of tubeless tires are increasing the demand of these types of tires across the globe. Tubeless tires are preferred by the OEMs as compared to the aftermarket because of its high cost over traditional tires. Tubeless tires are basically of two types radial and bias. Radial tires got an advantage over bias tires in terms stiff construction, better fuel efficiency and better control over ride. Rising sales and production of automobiles are the key factors driving the growth of global tubeless tires market. In aftermarket, tubeless tires expected to witness significant growth due to increased vehicle life span. Moreover, advancement in tire industry in terms of materials such as light weight tubeless tires, using advance methodology to utilize rubber to reduce the cost of tire, is expected to drive the global automotive tubeless tire market.

Market Segmentation:

By Tire Type
• Radial Tubeless Tire
• Bias Tubeless Tire
By Vehicle Type
• Passenger Car
• Commercial Vehicles
• Others

Geographically, this report is segmented into several key Regions, with Sales, revenue, Market Share (%) and Growth Rate (%) of Automotive Tubeless Tires in these regions 2016 to 2024 (forecast), covering North America , Latin America , Europe , Asia-Pacific , Middle East and Africa (MEA) , Rest of World.

Market Size and Forecast:

Global automotive tubeless market expected to garner USD 192.8 billion by the end of forecast period i.e. 2024. Further the market is anticipated to expand at compound annual growth rate of 6.2% in over the forecast period i.e. 2016-2024. Some of the global players such as Yokohama Rubber, Apollo Tires and others are looking forward to acquire tire manufacturing companies to expand their operations in untapped market. These expansion strategies of major players further boost the growth of automotive tubeless tire market in near future. As per the data of OICA, more than 60 million of passenger cars were sold in 2016.
Geographically, Asia-Pacific region is the major market for the automotive tubeless tire market players. Rising sales of automobiles in Asia-Pacific region, especially in China, India and other developing countries further boost the demand for automotive tubeless tire market. China dominated the market with a revenue share of 58.5% in 2016 followed by Japan with a market share of 15% in overall Asia-Pacific market. China is the largest automobile market in the region with increase in sales by 4% in 2016. OEMs segment expected to witness significant growth due to rise in production of vehicles and increasing number of OEMs manufacturing plants in developing countries.

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Market Growth Drivers and Challenges:

Factors such as positive growth in automotive industry, rising sales of passenger vehicles and growing research and development in tire industry are positively impact on the growth of automotive tubeless tire market. According to OICA (International Organization of Motor Vehicle Manufacturers) data, there were more than 90 million of vehicles sold in 2016 across the globe. The rising number of automotives across the globe further creates huge demand for automotive tubeless tire market in aftermarket. The tire industry is rising on the back of advancement in rubber technology along with the rising demand for tires from OEM’s. However, fluctuations in the prices of raw materials such as metal and rubber are hindering the growth of global automotive tubeless tire market. The rising competition in tire industry on the back of presence of well established global players is also a major challenge for the new entrants to enter into the market. Moreover, the robust research and development activities in rubber technology and advanced machinery involved in the manufacturing of automotive tubeless tires further increase the cost of final product which is expected to limit the growth of automotive tubeless tire market across the globe.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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