The Specialty Tires Market is being driven by Reducing prices of natural rubber
The Specialty Tires Market is expected to grow at a CAGR of 5.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 13478 million. Airless radial tires, a non-pneumatic innovation in the automotive industry, consist of rubber treads and a rubber-plastic compound filling. These tires feature spokes for heat distribution. While their operational efficiency is currently limited, they hold potential for specialized applications. Major tire manufacturers have been developing prototypes since 2016, primarily for all-terrain vehicles (ATVs). The market for airless radial tires in specialty vehicles, including off-highway commercial vehicles like golf carts, construction equipment, and agricultural machinery, as well as mainstream commercial vehicles, is poised for growth.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
231 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.1% |
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Market growth 2025-2029 |
USD 13478 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
4.6 |
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Key countries |
China, US, Japan, Germany, India, South Korea, UK, Brazil, Canada, and Australia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Specialty Tires Market encompasses various types of tires, including radial, bias ply, tubeless, reinforced, all-terrain, mud-terrain, snow, winter, summer, performance, ultra-high performance, and high-performance summer tires. Features like run-flat technology, self-sealing, tire pressure monitoring, tire sidewall markings, tire size, aspect ratio, rim diameter, construction, carcass, belt, bead, puncture resistance, rolling resistance, life, warranty, recycling, and disposal are essential considerations in this market. Radial tires and tubeless tires are common types with radial tires having a more uniform weight distribution and tubeless tires eliminating the need for a spare tube. Bias ply tires have a diagonal layout of plies and are suitable for heavy-duty applications. Reinforced tires offer enhanced durability for industrial use. All-terrain tires are designed for off-road use, while mud-terrain tires provide maximum traction in muddy conditions. Snow tires and winter tires offer improved grip in snow and icy conditions. Summer tires offer optimal performance in warm weather, while performance tires provide enhanced handling and grip. Ultra-high performance tires offer superior handling and speed capabilities. High-performance summer tires are designed for high-speed driving on dry roads. All-season tires offer a balance of performance in various weather conditions. Tire puncture resistance and rolling resistance are essential factors in tire performance and longevity. Tire life and warranty are critical considerations for consumers. Tire recycling and disposal are important aspects of the market's sustainability efforts. Tire pressure monitoring systems help maintain optimal tire pressure for improved fuel efficiency and safety. Tire sidewall markings provide important information about tire size, aspect ratio, rim diameter, and construction. Tire size refers to the width, aspect ratio, and rim diameter of the tire. The aspect ratio is the height of the tire's sidewall relative to its width. The rim diameter is the distance between the opposite edges of the rim. Tire construction refers to the arrangement of plies and belts in the tire. The tire carcass is the body of the tire, while the tire belt provides additional strength and stability. The tire bead is the edge of the tire that seals against the rim. Tire puncture resistance and rolling resistance are important factors in tire performance and longevity. Tire life and warranty are critical considerations for consumers. Tire recycling and disposal are important aspects of the market's sustainability efforts.
The global tires and rubber market encompasses businesses involved in the production of tires for various vehicle types, as well as the manufacturing of rubber used in tire production. According to Technavio's market research, the market's growth is attributed to the aftermarket sector, which has historically demonstrated greater expansion than original equipment (OE) fitment. This trend is primarily driven by the extended ownership periods of vehicles and the recurring need for tire replacement, encompassing segments such as off-road tires, high-performance tires, run-flat tires, light truck tires, and agricultural tires.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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