The global automotive airless radial tire market produced over 172 thousand units in 2016 and is expected to surpass 921 thousand units by 2021, says Technavio.
Technavio has announced its latest industry research report on the global automotive airless radial tire market to its automotive manufacturing portfolio. This market study reviews the major drivers and key evolving trends and offers an analysis of leading vendors like Bridgestone, Michelin, and Hankook.
According to Siddharth Jaiswal, a lead analyst for automotive manufacturing research at Technavio, “The increasing investments towards the modernization of equipment fleets in APAC will fuel the growth of the airless radial tire market. The vendors in the region are developing efficient container handling equipment and this, in turn, will support terminal operators to operate businesses in an efficient manner. China, Singapore, and South Korea will emerge as the highest revenue generators in the market during the forecast period.”
The OEMs in the market are using advanced technologies to introduce special tires such as airless tires that suit the functional needs of equipment and increase their profitability. The introduction of technologically advanced forklift trucks will increase productivity, handle heavier loads, and travel at higher velocities. These developments in vehicle designs will result in a wider adoption of airless tires that are durable, puncture free, and offer good vehicle stability.
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Use of bio-oils in manufacturing process of airless tires
The use of eco-friendly raw materials like paraffinic, aromatic, and naphthenic oils in the manufacturing of tires will help reduce the carbon footprint and fuel development in the global market. The introduction of eco-racing tires that use a revised mixture of orange oils, replacing low polycyclic aromatics and rubber will increase the adoption of these tires in the market. The use of bio-oils reduces the use of petroleum in the manufacturing process and does not compromise on tire performance.
Use of nanotechnology in airless tires to reduce wear and tear
The use of nanotechnology allows airless tires to operate in a wide range of temperatures with superior heat resistance thereby reducing the wear and tear of the automotive components. Nanoprene is a high-performance rubber additive that is used with the rubber mixture of the tire tread and reduces wear and tear on automobile tires. This enhancement in the rubber technology does not affect the rolling resistance, or wet grip of the tires and vendors are testing this technology for racing tires.
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This market study includes a comprehensive assessment of market shares and sizes of the sub-sectors and geography. A breakdown of the main companies, including their market shares, business summary, key financials, etc. is provided in this study. This research report also provides a thorough analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Airless Radial Tire Market 2017-2021’. Technavio also customizes reports by additional regions and specific sections upon request.
Other related reports:
- Global Tire Pressure Monitoring System Market 2016-2020
- Global Specialty Tire Market 2016-2020
- Global Tire Reinforcement Materials Market 2016-2020
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