The latest research study released by Transparency Market Research on “Tubeless Tires Market Forecast to 2023-2031 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Tubeless Tires industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
Tubeless Tires market is estimated to attain a valuation of US$ 153.6 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.4% during the forecast period, 2023-2031
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Implementation of stringent road safety regulations and increase in focus on fuel efficiency and environmental sustainability are key factors driving the global tubeless tires industry. Tube-free tires, with their ability to reduce the risk of punctures, provide a safer and more reliable driving experience. Growth in emphasis on vehicle performance is also augmenting the tubeless tires market size. Furthermore, improved traction, stability, and handling, particularly in high-performance vehicles and off-road applications, is boosting market progress.
Key players in the global tubeless tires market are concentrating on providing customers with a cost-effective and diverse product portfolio. In line with the latest tubeless tires market trends, leading automakers are investing in cutting-edge technologies to offer innovative tubeless tires.
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Improvement in Fuel Efficiency of Vehicles Driving Tubeless Tires Market Growth
The pursuit of improved fuel efficiency in vehicles is a key factor propelling market statistics. As environmental concerns and fuel costs rise, consumers and vehicle manufacturers alike are seeking ways to enhance the efficiency of vehicles.
Tubeless tires, with their lower rolling resistance and lighter weight compared to traditional tube-type tires, help reduce the amount of energy required to move the vehicle. This translates into better fuel economy and reduced emissions, making tubeless tires an attractive choice for environmentally-conscious consumers and a practical solution for automakers aiming to meet stringent fuel efficiency standards.
Governments and regulatory bodies are increasingly focusing on fuel efficiency and emission reduction in the automotive sector. Incentives, regulations, and fuel economy standards encourage vehicle manufacturers to incorporate technologies that improve fuel efficiency. As a result, tubeless tires are gaining prominence as effective and accessible means to achieve better fuel economy.
Competitor Analysis:
The significant players operating in the global Tubeless Tires market are
Apollo Tyres Ltd., Bridgestone Corp., Goodyear Tire & Rubber Company, Michelin, Trelleborg AB, Madras Rubber Factory, Yokohama Rubber CO. Ltd., CEAT Tyres Ltd., Continental AG, Toyo Tire & Rubber Company, Cooper Tire & Rubber Company, KUMHO Tire Co., Inc., Hankook Tire & Technology Co. Ltd., and Sumitomo Rubber Industries Ltd.
Market Segmentation –
- Tire Type
- Radial Tubeless Tires
- Bias Tubeless Tires
- Rim Size
- Below 15 Inches
- 15-17 Inches
- 18-20 Inches
- Above 20 Inches
- Vehicle Type
- Two / Three Wheelers
- Passenger Vehicles
- Hatchbacks
- Sedans
- SUVs
- Light Commercial Vehicles
- Heavy Duty Trucks
- Buses and Coaches
- Off-road Vehicles
- End-use Industry
- Automotive
- Construction
- Agriculture
- Mining
- Others
- Sales Channel
- OEM
- Aftermarket
This Report lets you identify the opportunities in Tubeless Tires Market by means of a region:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)
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Key Developments in Global Tubeless Tires Market
In July 2021, Pirelli & C. S.p.A. released two new tubeless versions of the P Zero Velo, its all-purpose race tire. The new road bike tires, which were created to take advantage of the tubeless technology, are said to perform better than any other road bike tires that the Italy-based tire manufacturer has previously manufactured, including tubulars.
In February 2020, Bridgestone Corporation (Bridgestone) introduced bias tires for touring motorcycles called BATTLAX BT46
Reasons to Buy The Tubeless Tires Market Report: –
1.Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
2.Reports provide opportunities and threats faced by suppliers in the Tubeless Tires industry around the world.
The report shows regions and sectors with the fastest growth potential.
3.A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
4.The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
5.This report provides the industry’s current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.
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