Tubeless Tire Sales will Show Sharp Recovery in China and India: Fact.MR New Study
Back to Newsroom
Mentioned in this Article

Tubeless Tire Sales will Show Sharp Recovery in China and India: Fact.MR New Study

Friday, February 12, 2021 10:27 AM
Share this article now
Topic:
Product Announcements

Increasing green technology initiatives to enhance uptake of fuel-less and hybrid automobiles, thereby generating lucrative revenue pools for manufacturers in the long-run

ROCKVILLE, MD / ACCESSWIRE / February 12, 2021 / Fact.MR's detailed study on the global tubeless tires market forecasts a moderate yet positive growth trajectory for 2021, as the global automotive industry recovers from a COVID-19 induced trough. The market experienced a significant deceleration in 2020, experiencing an over 5% decline in Q2 and a 3.4% downswing in the third quarter. Despite this, long-term prospects until 2031 appear optimistic, with a projected CAGR exceeding 6%.

According to Fact.MR, the market has made credible gains across the historical period, primarily fueled by the increasing need for achieving vehicular performance efficiency with respect to fuel consumption, enhanced road grip, and reduced maintenance. Future growth outlook is especially dependent upon the growing popularity of electric vehicles.

Statistics suggest an increase in hybrid electric vehicles ownership, with a staggering 14% increase predicted for the domain in forthcoming years. CleanTechnica observes that while Europe is likely to experience a 15% annual growth in EV adoption, the figure amounts to nearly 7 out of 10 sales for the US in 2021. Similarly, India is likely to hit over 6.3 million unit sales by 2027. Such trends are expected to enhance tubeless tire adoption in the future.

"Manufacturers are devising long-term expansion plans, particularly in the green energy segment, as their penetration is anticipated to prolong. In the interim, demand is expected to remain sustained by heightened uptake across the conventional automotive segment," says the Fact.MR analyst.

Request a report sample with 170 pages to gain comprehensive insights at https://www.factmr.com/connectus/sample?flag=S&rep_id=103

Key Takeaways from Fact.MR's Tubeless Tires Market Study

  • Radial tubeless tires to remain highly preferred, owing to high wear and tear resistance
  • Passenger cars tubeless tires to expand at a robust 7% CAGR, followed by LCVs, expected to generate over 1/4th revenue
  • Aftermarket sales to account for a major chunk of the market, attributed to regular maintenance requirements
  • US to capture a substantial amount of revenue, driven by increasing passenger vehicles ownership
  • UK to witness steady growth amid increasing popularity of biking for recreational and official purposes
  • Rising EV sales to pivot sales across Germany and France through 2031
  • China to remain the market hegemon, owing to the presence of a large automotive industry; India to receive tailwinds

Tubeless Tires Market- Prominent Drivers

  • Stringent fuel efficiency standards imposed by governments to enhance tubeless tires uptake, attributed to their lightweight, which reduces engine pressure
  • Increasing bicycle ownership to usher in a spike in global tubeless tire sales, with increased emphasis on superior road grip
  • Manufacturers are capitalizing on the OEM market to widen their revenue prospects

Tubeless Tires Market- Key Restraints

  • Tubeless tires market is facing stiff competition from airless tires, which are touted to be more effective in terms of grip orientation and fuel efficiency
  • Ongoing recovery stages from the COVID-19 induced recession to temporarily render growth sluggish

Discover more about the tubeless tires market with 87 figures and 111 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/103/automotive-tubeless-tires-market

Competitive Landscape

Bridgestone Corporation, Michelin North America Inc., Goodyear Tire & Rubber Company, Yokohama Rubber Co. Ltd., Madras Rubber Factory Limited, Apollo Tires Ltd., Sumitomo Rubber Industries Ltd., and Continental AG are amongst the prominent tubeless tire manufacturers profiled in Fact.MR's report.

Bridgestone Corporation, a prominent tubeless tire manufacturer, produces the V-Steel Smooth Tread MS (VSMS) 2 off-the-road tires, which offer a 30% reduction in sidewall cut frequency, which extends total life, offers superb casing durability, reducing operation downtime and delivering greater productivity.

In February 2021, Michelin North America Inc. introduced its CrossClimate® 2 tire series, which fits over three-quarters of best-selling cars and crossovers. The phase two launch of the series has increased the size availability from 25 to 55. It offers wet stopping, dry grip, longevity, and snow performance, respectively.

More Valuable Insights on Tubeless Tires Market

Fact.MR, in its new offering, presents an unbiased analysis of the global tubeless tires market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the market on the basis of product type (radial and bias), vehicle type (two-wheelers, passenger cars, LCVs, and HCVs), distribution channel (OEM and aftermarket), and technology (standard, powered, heated, and powered & heated), across six major regions of the world (North America, Latin America, Europe, Japan, Asia Pacific excl. Japan, and the Middle East & Africa).

Request more information about Report Methodology

https://www.factmr.com/connectus/sample?flag=RM&rep_id=103

Explore Fact.MR's Coverage on the Automotive Domain

Motorcycle Market: A recent study by Fact.MR on the motorcycle market offers a 10-year forecast from 2021 to 2031. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players.

High Voltage Electric Heater Market: A detailed assessment of value chain analysis, business executions, and supply chain analysis across regional markets has been covered in Fact.MR's high voltage electric heater market research report for the forthcoming decade. The study offers a comprehensive analysis on diverse features, including demand, product developments, policy & regulatory landscape, revenue generation, and sales around the globe.

Vehicle Roadside Assistance Market: Fact.MR's coverage on the global vehicle roadside assistance market provides an insightful analysis of the prominent growth dynamics, including the prominent drivers, opportunities, and trends expected to prevail across the landscape in the forthcoming forecast period. A detailed analysis of key segments across important geographies has also been incorporated within the scope of the report.

CONTACT:
Sudip Saha
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: [email protected]

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates

SOURCE: Fact.MR

Back to Newsroom
Copyright 2021 © ACCESSWIRE. All rights reserved. Privacy Policy  |   Terms and Conditions