From GlobeNewswire: 2024-07-10 11:14:00

The global airless tires market is projected to reach $58.80 billion in 2024 with a 7.2% CAGR through 2031. Demand is driven by fuel efficiency and low maintenance needs, reducing downtime for repairs and maintenance. Growing environmental awareness is increasing demand for sustainable technologies like airless tires. Major players include Michelin and The Goodyear Tire & Rubber Company.

Airless tires offer benefits such as reduced punctures, minimal tire changes, and fuel savings, contributing to a CAGR of 7.2% from 2024-2031. These tires are made from sustainable rubber, reducing the carbon footprint. Rise in demand for mobility vehicles and R&D investments by major players like Michelin are driving market growth.

The demand for fuel-efficient, low rolling resistance tires is expected to drive growth in the airless tires market. Commercial vehicles are expected to witness significant adoption due to reliability and reduced downtime. Ongoing advancements in technology to increase load-carrying capability are also boosting adoption in heavy-duty trucks and trailers. Key players include Continental AG and Pirelli & C. S.p.A.

Michelin and Toyo Tires have both made recent developments in airless tires, with Michelin demonstrating The Uptis in 2021 and Toyo Tires planning commercialization by the end of 2021. The global airless tires market is segmented by rim size, vehicle type, and sales channel, with North America expected to dominate due to strong presence of tire manufacturers and research activities.



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