Tubeless Tires Market Size Estimated to Observe Significant Growth by 2027

Tubeless Tires Market: Introduction

The automotive industry is evolving continuously and various technical, structural, and manufacturing developments are being witnessed globally. Recently, OEMs have started adopting new technologies to manufacture tires and various other parts of vehicles. Tubeless tires do not have extra internal tire/tube unlike the earlier generation of tires. The thickness of these tires is less. Thus, to overcome this problem, tire manufacturers have developed advanced tubeless tires in which, the rate of air loss is considerably low as compared to earlier generation tires. These tires are more durable. Nowadays, majority of vehicles are equipped with tubeless tires, as the cost of a tubeless tire is high but its maintenance cost is very low as compared to a tube tire.

Global Tubeless Tires Market: Competitive Landscape

MICHELIN

Founded in 1889, Michelin is one of the key players based in Europe operating in the global tire industry. Michelin primarily provides passenger vehicle tires and light truck tires, and is a strong player in the aftermarket segment. The company has global presence in 170 countries with 68 manufacturing facilities.

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The Goodyear Tire & Rubber Company

Established in 1898, The Goodyear Tire & Rubber Company is a leading brand globally. The company has its business across North America and Latin America, but it also has a prominent presence in other regions. It has 48 manufacturing facilities in approximately 22 countries. The company manufactures aviation tires, passenger vehicle tires, commercial vehicle tires, off-the-road tires, racing tires, and recreational vehicle tires.

Trelleborg AB

Trelleborg AB was founded in 1905 and is headquartered in Trelleborg, Sweden. The company is among the leading suppliers of rubber equipment and related components. The company has over 24,045 employees and operations in more than 51 countries. The Trelleborg Group is a conglomerate with operations in several industries, such automotive, aerospace, agriculture, marine, and infrastructure.

THE YOKOHAMA RUBBER CO. LTD.

THE YOKOHAMA RUBBER CO. LTD. was founded in 1917 and is headquartered in Tokyo, Japan. The company is a major manufacturer and supplier of rubber products and related equipment to the automotive industry across the globe. The company also manufactures and supplies rubber products such as hoses, tires, etc. It offers products such as tires for passenger vehicles, commercial vehicles, etc.

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Benefits of Tubeless Tires Drive Demand

Tubeless tires are seamlessly integrated with wheels to reduce air loss. These tires eliminate the requirement of an internal extra tube for filling air. Tubeless tires are sturdy and support the vehicle weight. They also absorb vibrations. Since these tires are without tubes, they are not susceptible to blowouts and quick punctures. The adoption of these tires in vehicles by majority of automakers due to their lightweight, long-lasting, and low maintenance features is driving the global market. The grip of these tires on road is high as the base of the tire is broad.