Airless Tires Market is expected to cross US$ 805 Mn in 2026 at 9% CAGR


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Airless Tires Market is expected to cross US$ 805 Mn in 2026 at 9% CAGR
Rising acceptance from heavy commercial and off-road vehicles coupled with high deployment in military segment, especially in developed countries of North America will primarily drive the airless tires market share over the forecast timeline. Proliferating demand of utility vehicles such as lawn mowers, golf carts, etc, will further escalate the revenue generation. Major tire manufacturers across the globe including Bridgestone, Michelin, and Hankook are investing heavily on R&D for the development of these tires, inducing immense growth potential to the airless tires market size till 2026.

HCV will be the leading product segment during the forecast period
These vehicles are equipped with airless tires to engage in rugged activities and carry more weight. Owing to these features, the manufacturers are increasingly preferring these tires, fostering the industry growth. Major industry players such as Michelin are focusing on the development of these tires for heavy vehicles, further offering growth opportunities for this segment.

Among tire size, 21"-25" is expected to grow at the highest CAGR
High deployment of these tires in HCVs and LCVs will primarily drive the industry growth. Moreover, they are increasingly being used in terrain vehicles across the globe, further escalating the airless tires market revenue generation.

Asia-Pacific to dominate the Airless Tires market in the forecast period
North America is a leader in the Airless Tires market and is expected to hold the largest share of the Airless Tires Market – Substantial production of military and commercial vehicles, especially in China and India will primarily drive the airless tires market growth. Initiatives from major manufacturers for the development of these tires will further support the region's dominance. For instance, in October 2017, Sumitomo Rubber Industries displayed airless tires at Tokyo Motor Show in Japan. Moreover, the company is expected to supply its product to Toyota for their electric vehicles. The Airless Tires Market in North America is expected to grow at the highest CAGR during the forecast period. High demand of airless tires across the region, especially from military sector will contribute the revenue generation. Prominent industry players are providing airless tires for military sector in the region. For instance, Michelin and Resilient Technologies have been providing these tires to the U.S. military.
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