Global Airless Tires Market Overview
In 2021, the global airless tires market achieved a valuation of $49.36 billion, and projections suggest a significant growth trajectory, reaching $77.72 billion by 2028. The compound annual growth rate (CAGR) over this forecast period is estimated at 6.70%, as detailed in the comprehensive market intelligence report by Brand Essence released on Tuesday. The report employs a robust combination of primary and secondary analyses to assess the competitive landscape and identify key market players expected to dominate from 2022 to 2028.
Advantages Driving Tubeless Tire Market Growth
The report emphasizes the expected substantial growth in the global tubeless tire market, attributing this surge to benefits such as ease of repair during punctures, enhanced comfort at higher speeds with lower tire pressure, reduced rotational weight, and improved shock absorption compared to conventional tires.
Sturdiness and Reliability of Airless Tires
Airless tires, identified as a type of non-pneumatic tire, derive their strength and reliability from not relying on air pressure for support. Constructed using rubber as a movable cushion, these tires exhibit resilience against vibrations and shocks, rendering them nearly indestructible on the road. Even when punctured, airless tires do not deflate like their traditional counterparts, eliminating the need for frequent replacements. This durability enhances a vehicle’s capacity to carry heavy loads and engage in rugged activities. Presently, these tires find primary applications in motorized golf carts, riding lawnmowers, and various all-terrain vehicles, with potential for expanding into new domains.
Increasing Demand and Technological Advancements
Growing demand for all-terrain and military vehicles globally is a significant factor driving the increased adoption of airless tires. Substantial research and development efforts have contributed to the creation of advanced airless tire technologies, boosting the popularity of this industry segment. Michelin, a notable player in this domain, has been actively involved in airless tire development since 2005. Their Vision Concept, including the Unique Puncture Proof Tire System (UPTIS), features a design that eliminates the need for air filling and is impervious to punctures. UPTIS, with its aluminum wheel and flexible load-bearing structure made from glass fiber-reinforced plastic, is anticipated to hit the market in 2024.
Chevrolet’s Innovation in Airless Tires
A recent revelation in February highlighted Chevrolet’s upcoming Bolt electric vehicle, expected to be equipped with airless tires developed in collaboration between General Motors and Michelin. The manufacturing approach for these airless tires varies among producers. Bridgestone, for instance, incorporates a distinctive spoke structure in its airless tire technology, providing robust support for the vehicle’s weight and eliminating the need for periodic air refilling.
Engineering Institute of Technology’s Design Optimization
In contrast, the Engineering Institute of Technology takes a meticulous approach to design airless tires, treating them not as standalone units but as an engineering design optimization exercise. Despite differences in design methodologies, a shared characteristic among all airless tires is their inherent resistance to punctures, as they are never filled with air in the first place.
