Automotive Tubeless Tires Market - Growing Demand For Passenger Vehicles and Development are Positively Impacting Market

PUNE, INDIA, April 17, 2018 /EINPresswire.com/ -- WiseGuyReports.com with their unique quality of simplifying the market research study, presents a deep diving study report “Global Automotive Tubeless Tires Outlook 2024”

Automotive Tubeless Tires

Overview

Tubeless tires are introduced to overcome the drawbacks of conventional tires. The rim and tire together form an airtight container to seal the air inside. Tubeless tires provide advantage of safety as the tubeless tires does not loose air instantly in case of puncture of tires, giving sufficient time to the driver to control vehicle. Tubeless tire provides various other advantages over conventional tires like better heat dissipation and better fuel efficiency.

The tires are preferred by the OEMs as compared to the aftermarket because of its high cost over traditional tires. Tubeless tires are basically of two types radial and bias. Radial tires got an advantage over bias tires in terms stiff construction, better fuel efficiency and better control over ride.

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Major Players

Yokohama Tires

Bridgestone Corporation

Continental AG

Pirelli Tire S.p.A

Sumitomo Rubber Industries, Ltd

Hankook Tire Co. Ltd.

Toyo Tire & Rubber Co. Ltd.

MICHELIN

MRF

CEAT

Apollo Tyres

Kumho Tyre 

Automotive Tubeless Tires Major Outlook

Rising sales and production of automobiles are the key factors driving the growth of global tubeless tires market. In aftermarket, tubeless tires expected to witness significant growth due to increased vehicle life span. Moreover, advancement in tire industry in terms of materials such as light weight tubeless tires, using advance methodology to utilize rubber to reduce the cost of tire, is expected to drive the global automotive tubeless tire market.  

Although, volatility in the price of raw materials such as rubber, metal and others creates pressure on the tubeless tire manufacturers to maintain their profit margin. This factor is one of the major challenges for the industry players to increase the supply into the global market to meet the demand of automotive tubeless tires. 

 Automotive Tubeless Tires - Competitive Analysis

Key players are making innovative developments in Automotive Tubeless Tires.  The same will help in improving the market performance. Heavy investments are made by major players in the R&D sector

Automotive Tubeless Tires – Scope

Global automotive tubeless market expected to garner USD 192.8 billion by the end of forecast period i.e. 2024. Further the market is anticipated to expand at compound annual growth rate of 6.2% in over the forecast period i.e. 2016-2024. Some of the global players such as Yokohama Rubber, Apollo Tires and others are looking forward to acquire tire manufacturing companies to expand their operations in untapped market. 

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