A recent report published by Infinium Global Research on tubeless tire market provides an in-depth analysis of segments and sub-segments in global as well as regional tubeless tire market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional tubeless tire market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global tubeless tire market. According to report, the global tubeless tire market is projected to grow at a CAGR of 7.1% over the forecast period of 2018-2024.
A tubeless tire is very much similar to a traditional tube tire. Traditional tire uses a separate inner tube, while tubeless tire has continuous ribs molded integrally into the bead of the tire so that they can are forced by the pressure of the air inside the tire to seal with the flanges of the metal rim of the wheel. The concept of a tubeless tire helps avoid sudden air loss in the case of a puncture. Usually, when a nail pierces a tubed tire, the tire, as well as the tube inside, are ruptured and air can escape out of the gap between the tube and tire.
Tubeless tire offers several benefits over tube tires such as the ability to run at lower pressures. A tube will get pinched when the pressure is low, leading to a puncture, this does not happen with tubeless tires. In addition, the tubeless tire has the advantages to be filled with liquid sealants. If a sharp object does put a hole in a tubeless tire, the liquid sealant immediately oozes out and dries up, sealing the hole. Moreover, these tires are light in weight that affects the mileage of the vehicle. Furthermore, the use of tubeless provides stability and reduces unwanted friction. These aforementioned benefits offered by tubeless tire over tube tire is the key factor driving the growth for the tubeless tire.
Worn out of the old tire incites a vehicle user to replace the tire with a tubeless tire. This factor to influence the demand of tubeless tire market. Moreover, an increasing number of 2-wheelers and 4-wheelers production to directly drive the demand for tubeless tire production. Vehicles manufacturers prefer tubeless tire to traditional tube tire during the production of the automobiles owing to several advantages offered by the tubeless tire. In addition, fixing punctures of tubeless tires is relatively easy when compared to tube tires. However, with the high cost of the tubeless tire is a major constraint for the growth of the tubeless tire market.
Among the regions, the Asia Pacific region held the highest market share in the tubeless tire market and is expected to remain dominant throughout the forecast period, 2018-2024. The advancement in this region is mainly attributed owing to surge in passenger and commercial vehicles. In addition, factors such as flourishing economies, rising disposable income among the citizens and a burgeoning population are influencing the growth of the tubeless tire market. South America and the Middle East region are expected to witness stable growth rate during the forecast period, owing to a recovery in economic conditions.
The report on global tubeless tire market covers segments such as type, vehicle type, and distribution channel. On the basis of type, the global tubeless tire market is categorized into radial tubeless tire and bias tubeless tire. On the basis of vehicle type the global tubeless tire market is categorized into two-wheeler, passenger car and commercial vehicle. On the basis of distribution channel, the global tubeless tire market is categorized into OEM and aftermarket.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global tubeless tire market such as Continental AG, MICHELIN, Bridgestone Corporation, The Goodyear Tyre & Rubber Company, Sumitomo Rubber Industries, Ltd., Pirelli Tyre S.p.A., Yokohama Tire Corporation, Toyo Tire & Rubber Co. Ltd., Hankook Tire Co. Ltd, and CST.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global tubeless tire market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of tubeless tire market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the tubeless tire market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the tubeless tire market to understand the present and future trends in this market and formulate their strategies accordingly.
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