Tubeless Tire Market Size was valued at USD 161.8 Billion in 2022. The Tubeless Tire market industry is projected to grow from USD 173.3 Billion in 2023 to USD 301.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.15% during the forecast period (2023 - 2032). Increased demand for tubeless tires and the expansion of the automotive industry are the key market drivers enhancing the the growth of market.
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
The market CAGR for tubeless tires is being driven by the expansion of the automotive industry. The tubeless tires have managed to replace the traditional pneumatic tires due to the rising reliability and safety they offer. The increase in the production of automobiles and rising demand for passengers car throughout the world to fuel the automotive tire industry during the forecast years. Sports utility vehicles are attaining momentum in developing countries.
Around 55.83 million passenger cars and 21.78 million commercial vehicles were generated in 2020 globally, as per the statistics from the International Organization of motor vehicle manufacturers. The implementation of stringent tire performance rules and rising requirement for fuel-efficient vehicles are boosting the market players toward developing novel tires with excellent wet grip and minimum rolling resistance. These are the factors anticipated to accelerate the growth tubeless tire market throughout the forecast years. The increasing demand for radial tires by the bus and truck section in the automobile industry, owing to the emergence of fuel-efficient products and the developed road infrastructure boosts the growth of the market. Further, the increasing number of vehicles and the large use of these tires in different sections of the market.
The tubeless tire is an inflated tire without the need for any sort of inner tube. The tubeless tire consists of a molded rim that helps in inserting air pressure into the tire to seal the flanges of the wheel rim. The absence of an inner tube makes tubeless tire safer and more sustainable compared to traditional tires. The tubeless tire is manufactured using a steel belt with resilient rubber surrounding and exaggerated with high-pressure air; these are more reliable and safe and have easy puncture repair methods, and enhancement in performance is anticipated to fuel the growth of the market. Thus, driving the Tubeless Tire market revenue.
However, the rising demand for airless tires in a few vehicles is anticipated to restrain the growth of the market, followed by the increasing cost of raw materials like fibers and composite metals are anticipated to hamper the growth of the market.
The Tubeless Tire Market segmentation, based on vehicle type, includes Commercial vehicles, Passenger Cars, and two-wheelers. The passenger cars segment dominates the market, accounting for the largest market revenue due to the rising production of automobiles in developing countries, and the drastic rise in the automotive section is the main factor driving the market growth. Additionally, the rising utilization of passenger cars, mainly in the Asia Pacific, is boosting the growth of the market. The longer vehicle life and high average yearly mileage for passenger cars are the factors that are growing the requirement for tubeless tires in the market. The increase in preference for private transportation and the affordability power of the users is driving the passenger cars segment of the market.
The Tubeless Tire Market segmentation, based on type, includes Bias Tubeless Tires and Radial Tubeless Tires. The radial tubeless tire segment dominates the market owing to the increasing requirement for radial tires in the truck and bus section of the automotive industry. Furthermore, the development of fuel-efficient products and the development of improved road infrastructure is fueling the demand for radial tubeless tires in the market.
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study offers market insights into North America, Europe, Asia-Pacific, and The Rest of the World. The North American Tubeless Tire market area dominates the market due to the increasing sale of electric vehicles, and the technologically advanced development of autonomous vehicles is boosting the demand for automotive tubeless tires in the region. Further, the rising popularity and increased production of pickup trucks and similar light commercial vehicles will boost the market growth in the region.
Further, the main countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil.
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Asia-Pacific Tubeless Tire Market accounts for the second-largest market revenue due to the presence of the largest automotive tubeless tire market and rising penetration of passenger cars and two-wheeler in the region due to the increasing per capita capital of the consumers. Moreover, China’s Tubeless Tire market held the largest market share, and the Indian Tubeless Tire market was the rapid-growing market in the Asia-Pacific region.
Europe's Tubeless Tire market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the rising adoption of electric vehicles and the technological advancements in the automobile industry. Further, the German Tubeless Tire market held the largest market share, and the UK Tubeless Tire market was the rapid-growing market in the European region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Tubeless Tire market grow even more. Market players are also undertaking various strategic activities to spread their global footprint, with important market developments including new product launches, contractual agreements, higher investments, mergers and acquisitions, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Tubeless Tire industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Tubeless Tire industry to benefit clients and increase the market sector. In recent years, the Tubeless Tire industry has offered some of the most significant advantages to the automotive industry. Major players in the Tubeless Tire market, including Pirelli & C.SpA, Maxxis International, CEAT Tires Ltd., Michelin, Apollo Tires, Yokohama Tire Corporation, Toyo Tire & Rubber Co. Ltd, Cooper Tire & Rubber Company, Madras Rubber Factory Limited, and others, are attempting to increase market demand by investing in research and development operations.
Pirelli, founded in the year 1872, is an Italian multinational tire manufacturer focused on the consumer manufacturer of tires for motorcycles, cars, and bicycles and operates in over 160 countries. The company is the only tire manufacturer in the past to be involved in fashion and operating in renewable energy and sustainable mobility. The tires manufactured by the company provide exceptional ride comfort, safety, and fuel efficiency without compromising the performance of the tire. In May 2021, the world's first Forest Stewardship Council (FSC)-certified P ZERO tire was launched by Pirelli. This P ZERO tire was manufactured in accordance with the performance requirement of BMW and the 'perfect fit' strategy of Pirelli. The P ZERO tire emphasizes offering a significant handout to the green philosophy of the hybrid automotive.
For the last 50 years, Maxxis International has been dedicated to making tire riders and drivers trust for quality and performance of their tires. Founded in Taiwan, the company started by making bicycle tires and then extended to include tires for light trucks, autos, ATVs, trailers, motorcycles, and more. Today the company supplies its products to over 180 countries and have employed more than 30,000 people. The company includes producing, sourcing, and distributing its tires in the most sustainable manner, leaving very little footprint on the environment. In February 2020, Maxxis India declared its collaboration with Yamaha in order to provide the tires for the 125 ccs BSVI-compliant Ray ZR and Fascino range of scooters and also the BSVI-compliant model of Ray ZR Street Rally 125 of Yamaha in India.
October 2021: CEAT Tires collaborated with TyresnMore for online sales, maintenance, and home tire installation. From the TyresnMore website, the original CEAT products, like batteries and tires, can be purchased.
June 2021: MICHELIN Primacy 4ST tires were launched by Michelin in India. The tire offers the best-wet grip due to its new tread pattern that offers 1.5X additional grooves to evacuate more water.
October 2021: The launch of a new range of tires was announced by Apollo Tires under its Dutch brand Vredestein in India. It is designed for luxury automobiles and high-performance bikes. The company aims to dominate the luxury car tire segment with the launch of these new tires.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 161.8 Billion |
| Market Size 2023 | USD 173.3 Billion |
| Market Size 2032 | USD 301.2 Billion |
| Compound Annual Growth Rate (CAGR) | 7.15% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Vehicle Type, Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil |
| Key Companies Profiled | Pirelli & C.SpA, Maxxis International, CEAT Tires Ltd., Michelin, Apollo Tires, Yokohama Tire Corporation, Toyo Tire & Rubber Co. Ltd, Cooper Tire & Rubber Company, Madras Rubber Factory Limitedย |
| Key Market Opportunities | Rising application of the radial tire in different vehicles. |
| Key Market Dynamics | Increased concern for the safety and the expansion of the automotive industry. |
Frequently Asked Questions (FAQ) :
The Tubeless Tire Market size was valued at USD 161.1 Billion in 2022.
The global market is foreseen to grow at a CAGR of 7.15% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Pirelli & C.SpA, Maxxis International, CEAT Tires Ltd., Michelin, Apollo Tires, Yokohama Tire Corporation, Toyo Tire & Rubber Co. Ltd, Cooper Tire & Rubber Company, and Madras Rubber Factory Limited.
The passenger cars category dominated the market in 2022.
The radial tubeless tire had the largest share in the global market.
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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