Airless tyre market ‘worth over $45m by 2026’ – report

A new study from market research firm Global Market Insights expects the airless tyre market to surpass 139,000 units by 2024. The researcher said that stimulated production of military and heavy commercial vehicles in the Asia Pacific region would boost the segment. Also backed by urbanisation trends in the region, Global Market Insights estimates that APAC will account for more than 34 per cent of the global market by 2024.

A multitude of cost and characteristic based advantages is anticipated to induce growth for the airless tyre industry in the coming years with a disruption of sorts in the product and competitive landscape.

Non-pneumatic tyres are now commonly seen in the replacement market and sold for lawnmowers, backhoes and other utility vehicles. Describing it as the pioneer in airless tyres for utility vehicles, GMI also points to Michelin’s X Tweel UTV 26x9N14 airless radial tyre launch as an example of the growing market segment. The tyre is designed for use in vehicles like the Polaris Ranger, Kawasaki Mule, and other UTVs exposed to jagged terrains and hostile elements.

These tyres enable continuous mobility during long journeys or in remote areas and ensure supreme traction with the surface. Michelin has been developing the X Tweel range for years now and expects to make non-pneumatic tyres for cars and two wheelers in the near future. Goodyear has also recently released a non-pneumatic tyre which is used as a replacement in lawnmowers.

GMI continues: “According to The International Organization of Motor Vehicle Manufacturers, around 24 million commercial vehicles were produced in 2017 alone. Increased rate of infrastructure development will boost the production of HCVs and LCVs that need to counter rugged surfaces and heavy loads on a regular basis, giving impetus to the airless tyres market.

“Military vehicles are expected to add to a significant demand for airless tyres, primarily in the US, which is a prominent hub for the industry giants. All in all, with a highly innovative product pipeline, the commercialisation potential of the airless tyre market can be quoted as humongous.”

The report is available here.