Global Tubeless Tyres Market, By Product Type (Radial Tubeless Tyre, Bias Tubeless Tyre), By Vehicle Type (Two Wheeler, Passenger Car, Commercial Vehicle) By Distribution Channel (Original Equipment Manufacturer (OEM), Aftermath, opportunities and forecast 2020-2027
Covid-19 Impact on tubeless tyres Market:
The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.Market Overview
Tubeless tyres have achieved to replace traditional pneumatic tyres due to increased safety and reliability the tyre offers. It is comparatively safer to drive the vehicle at higher speed in case of high speed puncture. Furthermore, tyres have longer lives as compared to pneumatic counterparts. Moreover, low maintenance, longer operational life, and easy repair is expected to fuel tubeless tire market.
The tyres offer riding comfort and have ability to be used under the low air pressure for the better adhesion. Additionally, they can be used with the liquid tire sealant to stop the complete deflation in the case of minor punctures. Growing number of the passenger vehicles is likely to drive the market growth over the forecast period. Segment Overview
On the basis of type, tubeless tire market is divided into bias tyres and radial tyre. Further, radial tyres has got edge over the bias tyres in terms of wider tyres, solid construction, longer life and better ride experience. Passenger automobile segment held largest market share of the tubeless tyres in 2018.
According to OICA Car association, approximately 68 million passenger vehicles were sold worldwide which additionally expected the tubeless tyres market. Further, massive expansion of the automotive industry is likely to increase the demand in the coming years. The other factors boosting the marketing of tubeless tyres market are the better fuel efficiency and longer life of vehicles.Regional Overview
North America commanded the maximum market share of the global tubeless tyre market in 2018. Convergence of the technology and tyres industry is fuelling innovations in the tubeless tyres market by providing benefits such as aftermarket sales opportunities, lightweight, and engineering with advanced rubbers and metals, which has improved lifespan and fuel efficiency of vehicles.. Furthermore, technological advancements are projected to unfold the favourable growth scenarios for tubeless tyres market.
On the other hand, Asia Pacific is expected to grow at a higher rate during the forecast period. Growing concerns relating to accidents have hard-pressed government to frame the stringent regulations against use of low quality tyres. As a result, rules have been legislated against utilization of WTO-incompatible tyres. These types of initiatives by government are likely to drive the promising growth to the automotive tubeless tyres.Competitor overview
Apollo Tyres Ltd. forayed into two-wheelers market segment by introduction of Acti-series tyres with the aim to support the company’s foothold in developing countries such as India. Acti-series tyre possesses outstanding dry and wet braking capability along with surrounding stability. The series has been planned with prime focus on grip, safety, and comfort.
The Goodyear Tyre & Rubber Company, in 2018, introduced a new tire sealant that can function in temperatures. The sealants are said to cover even the punctures that are almost 6mm wide. The sealant is packed in a bottle and is single-serve for set of wheels.
With the beginning of ecommerce portals, companies in tubeless tyres market are aiming towards intensifying their sales prospects by the help of online stores. A leading tyre brand, Michelin, announced its business with Snapdeal, after which the ecommerce site platforms the passenger car tyres and offers and discounts to consumers.Key Players
- Cheng Shin Rubber Industry Co.
- Continental AG
- Sumitomo Rubber Industries Ltd
- Pirelli & C. S.p.A.
- Madras Rubber Factory Limited
- Apollo Tyres Ltd.
- The Goodyear Tyre & Rubber Company
- The Yokohama Rubber Co., Ltd.
- Michelin North America Inc.
- Apollo Tyres Ltd.
- Radial Tubeless Tyre
- Bias Tubeless Tyre
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Distribution Channel
- Original Equipment Manufacturer (OEM)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA