Market Overview

Global Passenger Vehicle Tire Market 2018-2022 | Growth of Airless Tires to Encourage Growth | Technavio

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The global passenger vehicle tire market is expected to post a CAGR of
over 3% during the period 2018-2022, according to the latest
market research report by Technavio.

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Technavio has published a new market research report on the global passenger vehicle tire market fro ...

Technavio has published a new market research report on the global passenger vehicle tire market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the rise in sales of
passenger vehicles. Increasing sales of passenger vehicles, such as
sedans, hatchbacks, Sports Utility Vehicles, Multi-Purpose Vehicles,
crossovers, and passenger vans, are driving the growth of the global
passenger vehicle tire market. Sedans and hatchbacks also contribute
significantly towards the market growth. In countries such as China and
the US, SUVs and crossovers witnessed most sales. The passenger car
market in Europe and the US recorded significant growth, with growth
rates close to 6% and 4% respectively.

This market research report on the global
passenger vehicle tire market 2018-2022
also provides an
analysis of the most important trends expected to impact the market
outlook during the forecast period. Technavio classifies an emerging
trend as a major factor that has the potential to significantly impact
the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time
only:
View
market snapshot before purchasing

In this report, Technavio highlights the growth of airless tires as one
of the key emerging trends in the global passenger vehicle tire market:

Global passenger vehicle tire market: Growth of
airless tires

Airless tires or non-pneumatic tires are those that are supported by air
pressure. Most of these tires are used in small vehicles, such as riding
lawn mowers and motorized golf carts. These tires are also used for
heavy equipment, such as backhoes, which are used to demolish buildings.
These tires are composed of closed-cell polyurethane foam, which is also
used to make bicycle and wheelchair tires. The main advantage of these
tires is that these tires are not susceptible to punctures.

"Companies such as MICHELIN developed a tire called Tweel, which did
not have the conventional wheel hub assembly. Tweel has a solid inner
hub, which is mounted on the axle, which is then surrounded by
polyurethane spokes arrayed in a pattern of wedges. The shear band,
which is stretched across the spokes, forms the outer edge of the tire.
This shear band helps to replace the air pressure compared to the
traditional tires, which are supported through the tension of the
spokes. The tread of the tire is then attached to the shear band for
creating smoother traction when in contact,"
says a senior market
research analyst at Technavio.

Global passenger vehicle tire market:
Segmentation analysis

This market research report segments the global passenger vehicle tire
market by end-user (replacement and OEMs) and geographical regions
(APAC, EMEA, and the Americas).

The replacement segment held the largest market share in 2017,
accounting for nearly 70% of the market. This end-user segment is
expected to dominate the global market throughout the forecast period.

APAC led the market in 2017 with a market share of nearly 54% of the
market share. The market share occupied by this region is anticipated to
increase during 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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