Global Automotive Airless Tire Market Size, Share, Growth Analysis, By Tire Type(Radial Airless Tires, Bias Airless Tires), By Material Type(Passenger Vehicles, Commercial Vehicles), By Sales Channel(Original Equipment Manufacturers (OEMs), Aftermarket), By End-user(Consumer Electronics, Automotive) - Industry Forecast 2024-2031

Global Automotive Airless Tire Market size was valued at USD 51.41 Million in 2022 and is poised to grow from USD 54.29 Million in 2023 to USD 83.95 Million by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

The competitive environment of the Global Automotive Airless Tire Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. The global automotive airless tire market witnesses a competitive environment in which leading tire manufacturers, automotive OEMs and technical suppliers present Key players operating in the market are actively engaged in R&D efforts to develop tires with the airless technologies being updated and commercialized rapidly. Besides, investments in tire manufacturing facilities, testing infrastructure and distribution networks are key initiatives undertaken by market players to consolidate and expand their market positions in their global footprint. 'Hankook Tire & Technology Co., Ltd. (South Korea)', 'Continental AG (Germany)', 'Pirelli & C. S.p.A. (Italy)', 'Sumitomo Rubber Industries, Ltd. (Japan)', 'Yokohama Rubber Co., Ltd. (Japan)', 'Toyo Tire Corporation (Japan)', 'Nokian Tyres plc (Finland)', 'Cheng Shin Rubber Ind. Co., Ltd. (Taiwan)', 'Cooper Tire & Rubber Company (US)', 'Giti Tire (Singapore)', 'Kumho Tire Co., Inc. (South Korea)', 'Maxxis International (Taiwan)', 'Apollo Tyres Ltd. (India)', 'MRF Tyres (India)', 'Nexen Tire Corporation (South Korea)', 'Hankook Tire Europe GmbH (Germany)', 'CEAT Limited (India)'

Rising Demand for Maintenance Free Tires

Technological Advancements to Boost Sales

Asia Pacific dominated the global market. China is expected to hold the largest market share in the high sales of airless tires in the Asia-Pacific region. Pneumatic tires work similarly to pneumatic tires, the tires are not powered by compressed air but, instead, have steel belts and studs for its performance. Pneumatic tires have many advantages over conventional tires. For example, deflated tires eliminate the risk of punctures or deflation in conventional tires, resulting in poor vehicle performance.