Tubeless Tire Industry Global Market Size, Share, Trends Report 2018Posted by Abhijeet Bendre on November 28th, 2018 Tubeless Tire Market Analysis by Size, Share, Trends, Growth, And Regional Forecast To 2023. Global Tubeless Tire Market by Tire Type (Radial and Bias), Vehicle Type (Passenger car, commercial Vehicles, and Others), by Distribution Channel (OEM and Aftermarket), and by Region - Global Forecast to 2023. Tubeless Tire Market Highlights: The global tubeless tire market is a very dynamic market and is expected to witness high growth over the forecast period. The market is driven by various factors such as Growth in automotive industry in developing countries, Implementation of Stringent Vehicular Emission & Fuel Economy Norms, Increase in Production of Vehicles and rising Demand for Radial Tires. The major demand for radial tires has been witnessed in the truck and bus segment due to improved road infrastructure and the introduction of fuel-efficient products in the automobile industry. Furthermore, although tire production in the passenger car segment is already completely radialized, the number of radial tires in various segments of the market is expected to increase. The automotive market of China has experienced increased growth, which will drive the automotive technology for tubeless tires. According to the U.S. Department of Transportation, the average age of all light vehicles in operation was 11.4 years in 2014. Increasing numbers of vehicles on the road, builds a new business pipeline for the aftermarket, thereby driving the growth of the market. The tubeless tire market has various restraints that hinder the market growth such as Fluctuation in Raw Material Cost and Huge Capital Requirement to set up new Manufacturing Facility. The market is expected to grow from a market size of USD 131.3 Billion in 2016 to USD 211.5 Billion in 2023 at a CAGR of 7.15%. On basis of tire type, the market has been segmented as radial and bias. Amongst this, radial tires is segment accounted for the largest market share in 2016. Radial tubeless tires have various advantages they run cooler and enhances ride quality. They also come with rigid construction, longer tread life, wider footprint, and provide more traction between tire & road surface. The growth of radial tires is also being driven by the rise in application of radial tire in two wheelers, passenger cars and light commercial vehicles. For more information on Tubeless Tire Industry – Global Market Report @ https://www.marketresearchfuture.com/reports/tubeless-tire-market-3846 About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. Contact Info: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Pune, India., Like it? Share it! More by this author |