Automotive Non-pneumatic Tires Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 3.2 Billion by 2030, growing at a CAGR of 10.2% from 2024 to 2030.
The period from 2018 to 2022 showed promising growth in the non-pneumatic tire market, fueled by various partnerships, advancements in tire manufacturing technology, and improvements in material design. Tire manufacturers like Michelin and Bridgestone have been at the forefront of innovation, introducing airless tire prototypes for electric vehicles (EVs) and commercial vehicles. The primary drivers for this growth were the increasing adoption of electric vehicles, the need for cost-effective and eco-friendly alternatives to conventional tires, and the growing awareness regarding vehicle performance and safety. By 2022, the market was poised for accelerated growth as companies focused on improving the performance, longevity, and cost-effectiveness of non-pneumatic tires.
The automotive non-pneumatic tire market demand is expected to increase significantly from 2023 to 2033, as manufacturers aim to scale production to meet the evolving needs of the automotive industry. Increased demand from the electric vehicle (EV) sector is anticipated to play a major role, with the growth of EVs contributing to a rise in the demand for innovative tire solutions. Furthermore, advancements in tire technology will make non-pneumatic tires more affordable, efficient, and adaptable to various vehicle types, from consumer cars to commercial trucks. This is especially important as OEMs (original equipment manufacturers) and suppliers aim to reduce the carbon footprint of vehicles and improve fuel efficiency.
Manufacturers are expected to increase their R&D efforts to enhance the performance of non-pneumatic tires in various conditions such as high speeds, extreme temperatures, and off-road terrain. This will likely lead to further innovations in tire designs and material compositions, offering superior quality and performance to the end-user. Additionally, the demand for non-pneumatic tires will be bolstered by ongoing environmental regulations and the global push for sustainable technologies. The integration of such tires into mass production lines for passenger vehicles, particularly in the electric mobility sector, is projected to enhance the market’s growth trajectory over the next decade.
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The automotive non-pneumatic tire market has witnessed substantial growth from 2018 to 2022, driven by a variety of technological advancements, environmental concerns, and the rising demand for alternative tire solutions. Non-pneumatic tires, commonly known as airless tires, have increasingly gained popularity in the automotive sector due to their durability, maintenance-free characteristics, and the potential to reduce the environmental impact caused by conventional tires. They offer the ability to withstand punctures, reducing the need for replacements and thus, minimizing waste. These benefits have attracted significant attention from manufacturers and consumers alike, making non-pneumatic tires an emerging trend in the automotive industry.
Bridgestone Corporation
Goodyear Tire and Rubber Company
Michelin Inc.
Hankook Tire Group
Yokohama Tire Corp.
Resilient Technologies
Crocodile Tyres
Big Tyre
Toyo Tire and Rubber Co. LTD.
Pioneer Corporation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive Non-pneumatic Tires Market
Passenger Vehicles
Commercial Vehicles
Based on Types the Market is categorized into Below types that held the largest Automotive Non-pneumatic Tires market share In 2023.
Solid Tire
Hollow Tire
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Non-pneumatic Tires Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automotive Non-pneumatic Tires Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Non-pneumatic Tires Market, By Type
6. Global Automotive Non-pneumatic Tires Market, By Application
7. Global Automotive Non-pneumatic Tires Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Automotive Non-pneumatic Tires Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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