AIRLESS TIRES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Size and Trends

Global airless tires market is estimated to be valued at US$ 58.80 Bn in 2024 and is expected to reach US$ 95.89 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.

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Airless tires does not require inflating or regular maintenance like pneumatic tires. These provide advantages such as better puncture protection and stability. This reduces repair and maintenance costs for consumers.

Global airless tires market is expected to witness significant growth during the forecast period. Rising demand for low-maintenance tires from consumers and increasing sales of premium vehicles equipped with advanced tire technologies are expected to boost demand. Growing focus of OEMs to provide enhanced safety, comfort and drivability is further expected to propel the airless tires market growth until 2031.

Pneumatic tires have issues with punctures, causing breakdown of the tire and damaging the inner tube which needs immediate replacement or repair. Airless tires are made of a solid and flexible rubber material which provides greater durability as there is no air pressure involved. Without any air pressure, these tires are immune to risks like punctures, nails or glass breaking the inner tube. This improves the lifespan of the tires manifolds. Commercial fleet owners will be highly attracted to this benefit as downtime for repairs can become very costly. Airless tires maintain consistent optimal pressure regardless of how they're used, ensuring steady performance for a long time. The solid rubber material is also more resistant to damages from wear and tear on the road that boosts the useful life of these tires. Overall, the elimination of air eliminates the requirements of refilling air or repairing punctures providing improved reliability.

Reduced Maintenance Needs

Conventional pneumatic tires need regular maintenance activities like inspecting the pressure level, checking for any damage to the sidewall or tread, and inflating the air as required. Lack of proper maintenance can result in premature failure or accidents. However, airless tires remove the hassle of inflating air and checking pressure levels altogether. As these tires have no air, their pressure monitoring is not critical. Moreover, the solid material formation makes them durable and long-lasting. This translates to lesser requirements of replacements and repairs over time. For businesses running heavy-duty vehicles on the road, fewer maintenance requirements mean saving money on operating expenses. Fleet managers will appreciate the cost-saving benefits of low maintenance when considering overall ownership expenses. As airless tires does need to be inflated, these can be fitted easily without any special equipment. This convenience further increases their utility. The absence of air pressure related issues eliminates unexpected maintenance and enhances uptime.