Report ID: SQMIG25A2276
Report ID:
SQMIG25A2276 |
Region:
Global |
Published Date: December, 2024
Pages:
225
|
Tables:
118 |
Figures:
74
Automotive Airless Tire Market size was valued at USD 54.29 Million in 2023 and is poised to grow from USD 57.33 Million in 2024 to USD 88.65 Million by 2032, growing at a CAGR of 5.6% during the forecast period (2025-2032).
A pneumatic tire is a solid or pneumatic tire not compressed by air pressure. Generally, they are made of plastic or rubber, but nowadays 3D printing techniques are also used. These tires prevent accidents such as flat and rejected tires and ensure the safety of the passengers. Furthermore, increase in the number of heavy commercial vehicles such as large trucks and heavy construction equipment due to urbanization and globalization is also expected to propel the market
However, capital investment to set up new manufacturing facilities and volatility in raw material prices may restrain market growth. Low suspension and friction performance of rigid tires, along with heat dissipation issues, may restrain the market growth. It is anticipated that there will be a demand for airless/rigid tires in passenger vehicles post-market and technological developments of advanced products will provide huge opportunities for market expansion.
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Report ID: SQMIG25A2276