The global airless tire market revenue was US$ 48.68 million in 2021. The global airless tire market revenue is forecast to reach US$ 77.5 million by 2030, growing at a compound annual growth rate (CAGR) during the forecast period from 2022-2030. 

Tires are an essential part of any vehicle since they ensure safety and comfort for the driver and passengers. Tires perform two fundamental functions: protecting the wheel rim and transferring tractive force to the road surface. Airless tires, also known as non-pneumatic tires (NPTs) or flat-free tires, do not depend on air pressure for support, so they do not require re-inflation. The rubber cushion reduces the impact of vibrations and cushions the automobile shock because it's constructed from rubber.

Factors Influencing Market Growth

• The growing demand for long-lasting, low-maintenance vehicle tires has led major automakers to produce airless or solid tires. These improvements are forecast to raise the global airless tire market's growth prospects in the forecast period.
• Factors including the surge in demand for maintenance of free tires and the rise in popularity of all-terrain vehicles and military vehicles are likely to drive the growth of the global airless tire market. 
• Due to low performance during friction and high-speed scenarios, and the high capital investment required for setting up new manufacturing facilities, the global airless tire market may grow slowly.
• Globally, the increasing recycling of plastics and the adoption of electric vehicles will provide lucrative opportunities for the global airless tire market.

Impact Analysis of COVID-19

The COVID-19 pandemic had negatively impacted the global airless tire market. Across the globe, governments implemented strict lockdowns and required social distancing to prevent the spread of the COVID-19 virus. As a result, the work-from-home policy had adopted as a measure of precaution. It resulted in a drop in global demand for automobiles. As a result, several manufacturing facilities across the globe had to shut down operations due to nationwide lockdowns. Thus, it also impacted the supply and demand in a massive way around the world.

Regional Insights

Asia Pacific is forecast to register the highest CAGR during the forecast period in the airless tire market. Due to the strong presence of manufacturers such as Bridgestone, Hankook, and Sumitomo Rubber Industries throughout the region. The industry landscape will experience significant growth due to the availability of raw materials and the high ownership of vehicles.

Leading Competitors

The leading prominent companies profiled in the global airless tire market are:

• Ameritire Corporation
• Bridgestone Corporation
• Continental AG
• Hankook Tire & Technology Co., Limited
• Michelin
• Sumitomo Rubber Industries, Limited
• The Goodyear Tire & Rubber Company
• Toyo Tire Corporation
• The Yokohama Rubber Co., Limited
• Trelleborg AB
• Other Prominent Players

Scope of the Report

The global airless tire market segmentation focuses on Material, Vehicle Type, Sales Channel, Rim Size, and Region.

Segmentation based on Material

• Rubber
• Plastic

Segmentation based on Vehicle Type

• Military Vehicles
• Passenger & Commercial Vehicles
• All-terrain Vehicles
• Utility Vehicles
• Two-wheelers

Segmentation based on Sales Channel

• OEM
• Aftermarket

Segmentation based on Rim Size 

• Less than 15 Inches
• 15 to 20 Inches
• More than 20 Inches

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America