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Airless Tires Market Size
- Report ID: GMI1390
- Published Date: Jan 2023
- Report Format: PDF
Airless Tires Market Size
Airless Tires Market size surpassed USD 33 million in 2022 and is projected to register 11% CAGR from 2023 to 2032.
Rising sales of electric vehicles (EVs) and a shift towards sustainable automotive solutions would create new growth opportunities for manufacturers in airless tire market. Airless tires are steadily gaining grip in the automotive sector, especially at a time when a myriad of automakers are adopting sustainable solutions to lower their carbon footprint. Made using bio-sourced and recycled materials, these tires can help minimize the overall environmental footprint of the tire sector.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Airless Tires Market Size in 2022: | USD 33 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 11.1% |
| 2032 Value Projection: | USD 85 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 375 |
| Tables, Charts & Figures: | 293 |
| Segments covered: | Product, Vehicle, Material, Sales Channel and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Efforts to improve the driving range of EVs and accept more viable & lightweight materials would incite product demand in the coming years. According to an estimate from the U.S. Department of Energy, about 25% of the energy of EVs is used to overcome rolling resistance, making airless tires a critical component for maximum EV energy efficiency.
The high cost of manufacturing airless tires could impact airless tires market expansion. The use of advanced equipment, infrastructure, and raw material can increase the overall cost of manufacturing airless tires. Another major constraint is its manufacturing complexity which could impact production time and cost. However, strategic partnerships and mergers between tire manufacturers over developing new airless tires using sustainable materials could help overcome some of these challenges during 2023-2032.
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Airless Tires Market Scope
