Global Automotive Tubeless Tire Market expected to double in value by 2033

From GlobeNewswire: 2024-08-09 11:00:00

The Global Automotive Tubeless Tire Market Size is projected to increase from USD 171.41 Billion in 2023 to USD 341.10 Billion by 2033, with a Compound Annual Growth Rate (CAGR) of 7.12%. Tubeless tires provide better air retention than traditional tires, leading to increased demand from manufacturers in the industry.

The radial segment dominates the automotive tubeless tire market due to increased demand in the bus and truck sectors. The passenger car segment holds the highest market share, driving innovation in materials and tread designs. North America leads the market, with Europe expected to grow rapidly and Asia-Pacific holding the second-highest revenue.

Key vendors in the market include Sumitomo Rubber Industries, The Goodyear Tire & Rubber Company, and Bridgestone Corporation. Recent developments include CEAT launching a new line of Milaze Tubeless tires for scooters in the Indian market. The market is segmented globally by type, application, and region for an in-depth analysis and forecast until 2033.



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