The global airless tire market was valued at US$ 173.3 million in 2018 and is projected to reach US$ 270.0 million by 2027, registering a CAGR of 5.1% from 2019 to 2027. Airless tires are gaining attention across several industries because they can address issues associated with conventional pneumatic tires, including inappropriate tire pressure and maintenance requirements. The market is still at a nascent stage, with established manufacturers and smaller companies developing products for different vehicle applications.
Increasing Vehicle Production
The growth in global vehicle production is an important factor supporting market development. Increasing urbanization and rising disposable incomes have contributed to expanding vehicle fleets. Heavy equipment and utility vehicles are areas characterized by innovation and developments related to road safety. Airless tires are particularly relevant for heavy equipment because vehicles equipped with these tires can carry more weight and operate in rugged activities compared with pneumatic tires.
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The advantages of airless tire technology are influencing applications across construction, agriculture, commercial, mining, and military industries. Increasing adoption across different vehicle types and geographies is contributing to the expansion of the market.
Type and Material Analysis
Based on type, radial tires dominated the market in 2018. In a radial tire design, the cord plies are arranged at 90 degrees to the direction of travel. This design allows the tread and sidewall to function as independent features of the tire. The market is segmented into radial and bias tires.
By material, the rubber segment held the dominant position in 2018. The market is categorized into rubber and composite materials. The continued development of tire technologies is encouraging manufacturers to focus on new designs and materials for different operating requirements.
Vehicle Type and Regional Insights
By vehicle type, utility vehicles accounted for the largest share of the market in 2018. Utility vehicles are designed for specific tasks across multiple industries and are required to perform effectively and efficiently in demanding operating environments. Terrain vehicles and military vehicles also form part of the market segmentation.
Geographically, North America represented the leading regional market, followed by Asia Pacific and Europe. North America’s position is associated with the presence of several airless tire manufacturers and their focus on research and development. The US represents the largest market in North America and was anticipated to maintain its leading position during the 2019 to 2027 forecast period. The market covers North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.
Product Innovation and Developments
Manufacturers are focusing on product innovations and technological developments to expand their offerings. In 2019, Michelin Tweel Technologies introduced a 26-inch airless radial tire with a four-bolt wheel-pattern hub designed for utility task vehicles. Michelin also entered a partnership with General Motors in 2018 to test its Uptis airless tire prototype for passenger vehicles. In 2017, Toyo Tires announced the development of its “noair” airless concept tire, designed without the need for air filling.
Key Players
- Amerityre
- Bridgestone Corporation
- Continental Corporation
- Evolution Wheel
- Hankook Tire & Technology Co. Ltd.
- McLaren Industries
- Michelin
- Sumitomo Rubber Industries Ltd.
- The Goodyear Tire & Rubber Company
- Toyo Tire & Rubber Co. Ltd.
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Future Outlook
The airless tire market is expected to continue developing as manufacturers focus on product innovation, advanced tire technologies, and applications across utility, terrain, commercial, construction, agriculture, mining, and military vehicles. Opportunities associated with sustainable tire technology and the growth of electric vehicle infrastructure are also expected to influence market dynamics. Continued research and development, together with increasing adoption across different vehicle types and regions, is expected to support market expansion through the forecast period.
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