Global Automotive Tubeless Tire Market

Automotive Tubeless Tire Market Size, Share, Growth Analysis, By Tire Type(Radial and Bias), By Vehicle Type(Two-Wheeler, Passenger Car, and Commercial vehicle), By Distribution Channel(Original Equipment Manufacturer (OEM) and Aftermarket), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25B2025 | Region: Global | Published Date: April, 2024
Pages: 220 | Tables: 86 | Figures: 72

Automotive Tubeless Tire Market News

  • In September 2023, in response to rising consumer demands for durable and environmentally friendly products, leading companies in the global automotive tubeless tire market, including Bridgestone and Michelin, revealed cutting-edge tire designs meant to improve fuel efficiency and durability.
  • In December 2023, Companies like Continental AG and Pirelli saw a spike in market investments for R&D projects, with the goal of improving tire performance and safety features to satisfy changing industry standards and legal requirements.
  • In February 2024, Tire manufacturers like CEAT and Apollo had to enhance their manufacturing capacity to fulfil the expanding market demands for tubeless tires, which were driven by rising vehicle sales and infrastructure upgrades in emerging economies like Brazil and India.
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Automotive Tubeless Tire Market size was valued at USD 161.8 billion in 2022, USD 173.3 billion in 2023 and is projected to grow USD 301.2 billion by 2031, growing at a CAGR of 7.15% in the forecast period (2024-2031).

Prominent industry participants are making significant investments in R&D to broaden their product offerings, contributing to the further expansion of the Tubeless Tyre market. To increase their presence, market players are also engaging in a range of strategic initiatives. Notable advancements in the industry include the introduction of new products, contracts, increased investments, mergers and acquisitions, and joint ventures with other businesses. To grow and thrive in an increasingly competitive and developing market environment, the tubeless tyre sector needs to provide affordable products. 'Sumitomo Rubber Industries Ltd (Japan)', 'Cheng Shin Rubber Industry Co. (Taiwan)', 'The Goodyear Tyre & Rubber Company (US)', 'Apollo Tires (India)', 'Maxxis International (Taiwan)', 'Bridgestone Corporation (Japan)', 'Cooper Tire & Rubber Company (US)', 'The Yokohama Rubber Co., Ltd. (Japan)', 'Pirelli & C. S.p.A. (Italy)', 'Michelin (France)', 'Toyo Tire & Rubber Co. Ltd (Japan)', 'Continental AG (Germany)', 'Michelin North America Inc. (US)', 'Pirelli & C. S.p.A. (Italy)', 'Madras Rubber Factory Limited (India)', 'CEAT Tires Ltd. (India)'

The automotive tyre business is anticipated to be driven over the projected period by a surge in automobile production and a high demand for passenger cars worldwide. According to data from the International Organisation of Motor Vehicle Manufacturers, market participants are being encouraged to develop new tyres with superior wet grip and low rolling resistance by the implementation of strict tyre performance regulations and the growing demand for fuel-efficient vehicles.

Driving Forces of Tubeless Tires in the Automotive Industry: The growth of the automotive industry is driving the tubeless tire market's compound annual growth rate (CAGR). Due to their increased safety and dependability, tubeless tires have managed to displace traditional pneumatic tires. The automotive tire industry is expected to be driven by the expansion in automobile production and the growing demand for passenger cars in the coming years. The popularity of sport utility vehicles is growing in developing nations.

The growing sales of electric cars and the technologically sophisticated development of autonomous vehicles have made North America the market leader for tubeless tires. This has increased demand for tubeless tires for automobiles in the area. Also, the growing demand for pickup trucks and other comparable light commercial vehicles and their increased manufacturing will support regional market growth. Due to the existence of the largest automotive tubeless tire market and the growing penetration of passenger vehicles and two-wheelers in the region because of rising consumer per capita capital, the Asia-Pacific Tubeless Tyre Market generates the second-highest revenue. Furthermore, the Asia-Pacific region's fastest-growing tubeless tire market was India, while China maintained the highest market share.

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Global Automotive Tubeless Tire Market

Report ID: SQMIG25B2025

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