Non-Pneumatic Tires Market projected to grow at a CAGR of 11.0%

According to Goldstein Research, global non-pneumatic tires market is growing at a compounded annual growth rate of 11.0% during the forecast period 2016-2024. With the increase in the application of non-pneumatic tires in electric vehicles, military grade vehicles & off-road vehicles, the global non-pneumatic tires market is anticipated to acquire 3%-4% market share of tires market. Non-pneumatic tires market is at a nascent stage, but its feature which eliminates the problem of air leaks/flat tires is expected to increase the demand in off-the-road vehicles. The global off-the-road (OTR) tires market is growing at a CAGR of 4.2% during the forecast period and thus provides the highest growth opportunities for global airless tires market in terms of penetration. Global non-pneumatic tires market segmentation has been carried out on the basis of vehicle type, usage-type, and geography. On the basis of geography, global non-pneumatic tires industry is dominated by North America market share owing to high demand from U.S. army coupled with high R&D & innovation activities carried out in the region by the manufacturers. On the other hand, huge Asia Pacific Automobile industry, the automotive manufacturers are expected to adopt non-pneumatic tires in near future.
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Market Segmentation
On the basis of our in-depth analysis, Global Non-Pneumatic TiresMarketcan is segmented as follows:
By Vehicle Type
• Passenger Vehicles
• Commercial Vehicles
By Usage Type
• Multi Utility Vehicles
• All Terrain Vehicles
• Material Handling Equipment
• Motorbikes and Bicycles
• Low-Speed Electric Vehicles (LSEV)
• Passenger Cars
• Military Vehicles
• Other (Lawnmowers, Trailers etc.)
By Region
• North America Non-Pneumatic Tires Market {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
• Europe Non-Pneumatic Tires Market (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• The Middle East and Africa Non-Pneumatic Tires Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Latin America Non-Pneumatic Tires Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Asia Pacific Non-Pneumatic Tires Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
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“Global Non-Pneumatic Tires Market Outlook 2024” contains a detailed overview of the global non-pneumatic tires market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by vehicle type and usage type.
Further, for the in-depth analysis, Global Non-Pneumatic Tires Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Bridgestone Corporation, Goodyear Tire and Rubber Company, Michelin Inc., Hankook Tire Group, Yokohama Tire Corp., Resilient Technologies, Crocodile Tyres, Big Tyre, Toyo Tire & Rubber Co. LTD., Pioneer Corporation, etc.
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The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global non-pneumatic tires market trends along with the market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Key questions answered in this Global Non-Pneumatic TiresReport
• The Global Non-Pneumatic Tires Market Size by 2024.
• The total revenue per segment and region in 2015-16.
• The non-pneumatic tires market trends.
• The factors which are driving the Non-pneumatic tire market.
• The major barriers to non-pneumatic tires market growth.
• The key vendors in this market space.
• The markets opportunities for the existing and entry-level players.
• The recent developments and business strategy of the key players.
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