The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.
Market Overview
Tubeless tyres have achieved to replace traditional pneumatic tyres due to increased safety and reliability the tyre offers. It is comparatively safer to drive the vehicle at higher speed in case of high speed puncture. Furthermore, tyres have longer lives as compared to pneumatic counterparts. Moreover, low maintenance, longer operational life, and easy repair is expected to fuel tubeless tire market.
The tyres offer riding comfort and have ability to be used under the low air pressure for the better adhesion. Additionally, they can be used with the liquid tire sealant to stop the complete deflation in the case of minor punctures. Growing number of the passenger vehicles is likely to drive the market growth over the forecast period.
Segment Overview
On the basis of type, tubeless tire market is divided into bias tyres and radial tyre. Further, radial tyres has got edge over the bias tyres in terms of wider tyres, solid construction, longer life and better ride experience. Passenger automobile segment held largest market share of the tubeless tyres in 2018.
According to OICA Car association, approximately 68 million passenger vehicles were sold worldwide which additionally expected the tubeless tyres market. Further, massive expansion of the automotive industry is likely to increase the demand in the coming years. The other factors boosting the marketing of tubeless tyres market are the better fuel efficiency and longer life of vehicles.
Regional Overview
North America commanded the maximum market share of the global tubeless tyre market in 2018. Convergence of the technology and tyres industry is fuelling innovations in the tubeless tyres market by providing benefits such as aftermarket sales opportunities, lightweight, and engineering with advanced rubbers and metals, which has improved lifespan and fuel efficiency of vehicles.. Furthermore, technological advancements are projected to unfold the favourable growth scenarios for tubeless tyres market.
On the other hand, Asia Pacific is expected to grow at a higher rate during the forecast period. Growing concerns relating to accidents have hard-pressed government to frame the stringent regulations against use of low quality tyres. As a result, rules have been legislated against utilization of WTO-incompatible tyres. These types of initiatives by government are likely to drive the promising growth to the automotive tubeless tyres.
Competitor overview
Apollo Tyres Ltd. forayed into two-wheelers market segment by introduction of Acti-series tyres with the aim to support the company’s foothold in developing countries such as India. Acti-series tyre possesses outstanding dry and wet braking capability along with surrounding stability. The series has been planned with prime focus on grip, safety, and comfort.
The Goodyear Tyre & Rubber Company, in 2018, introduced a new tire sealant that can function in temperatures. The sealants are said to cover even the punctures that are almost 6mm wide. The sealant is packed in a bottle and is single-serve for set of wheels.
With the beginning of ecommerce portals, companies in tubeless tyres market are aiming towards intensifying their sales prospects by the help of online stores. A leading tyre brand, Michelin, announced its business with Snapdeal, after which the ecommerce site platforms the passenger car tyres and offers and discounts to consumers.
Key Players
- Cheng Shin Rubber Industry Co.
- Continental AG
- Sumitomo Rubber Industries Ltd
- Pirelli & C. S.p.A.
- Madras Rubber Factory Limited
- Apollo Tyres Ltd.
- The Goodyear Tyre & Rubber Company
- The Yokohama Rubber Co., Ltd.
- Michelin North America Inc.
- Apollo Tyres Ltd.
Market Segmentation
By Type
- Radial Tubeless Tyre
- Bias Tubeless Tyre
- Two-Wheeler
- Passenger Car
- Commercial Vehicle
- Original Equipment Manufacturer (OEM)
- Aftermarket
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
1 Executive Summary 11
2 Introduction 13
- 2.1 Definition 13
- 2.2 Scope of the Study 13
- 2.3 Assumptions 13
- 2.4 Market Structure 14
3 Research Methodology 15
- 3.1 Research Process 15
- 3.2 Primary Research 16
- 3.3 Secondary Research 16
- 3.4 Market Size Estimation 16
- 3.5 Forecast Model 18
4 Market Dynamics 19
- 4.1 Drivers 20
- 4.1.1 Growth in automotive industry in developing countries 20
- 4.1.2 Implementation of Stringent Vehicular Emission & Fuel Economy Norms 20
- 4.1.3 Increase in Production of Vehicles 21
- 4.1.4 Rising Demand for Radial Tyres 21
- 4.2 Restraints 22
- 4.2.1 Fluctuation in Raw Material Cost 22
- 4.2.2 Huge Capital Requirement to set up new Manufacturing Facility 22
- 4.3 Opportunities 22
- 4.3.1 Rise in Average Life Span of Vehicles 22
- 4.4 Challenges 23
- 4.4.1 Increasing Pricing Pressures 23
5 Market Factor Analysis 24
- 5.1 Porter's 5 Forces Analysis 24
- 5.1.1 Threat of New Entrants 24
- 5.1.2 Bargaining Power of Suppliers 25
- 5.1.3 Bargaining Power of Buyers 25
- 5.1.4 Threat of Substitute 25
- 5.1.5 Segment Rivalry 25
- 5.2 Value Chain Analysis 26
- 5.2.1 Raw Material Supply 26
- 5.2.2 Assembly and customization 26
- 5.2.3 Distribution 26
- 5.2.4 End-users 27
6 Global Tubeless Tire Market, By Tire type 28
- 6.1 Introduction 29
- 6.2 Radials 29
- 6.3 Bias 29
7 Global Tubeless Tire Market, By Vehicle type 31
- 7.1 Introduction 32
- 7.2 Passenger Car 32
- 7.3 Commercial Vehicles 32
- 7.4 Others 33
8 Global Tubeless Tire Market, By Distribution channel 35
- 8.1 Introduction 36
- 8.2 OEM 36
- 8.3 Aftermarket 36
9 Global Tubeless Tire Market, By Region 38
- 9.1 Introduction 39
- 9.2 North America 40
- 9.2.1 U.S 43
- 9.2.2 Canada 45
- 9.3 Europe 47
- 9.3.1 Germany 50
- 9.3.2 U.K. 52
- 9.3.3 France 54
- 9.3.4 Spain 56
- 9.3.5 Rest of Europe 58
- 9.4 Asia-Pacific 60
- 9.4.1 China 63
- 9.4.2 Japan 65
- 9.4.3 India 67
- 9.4.4 Rest of Asia-Pacific 69
- 9.5 Rest of the World (RoW) 71
- 9.5.1 Latin America 74
- 9.5.2 Middle East & Africa 76
10 Competitive Scenario 78
- 10.1 Market Share Analysis 78
11 Company Profiles 79
- 11.1 Bridgestone Corporation 79
- 11.1.1 Company Overview 79
- 11.1.2 Financial Overview 80
- 11.1.3 Product Offering 81
- 11.1.4 Strategy 81
- 11.1.5 Key Development 82
- 11.2 The Goodyear Tyre & Rubber Company 83
- 11.2.1 Company Overview 83
- 11.2.2 Financial Overview 83
- 11.2.3 Product Offering 85
- 11.2.4 Strategy 85
- 11.2.5 Key Developments 86
- 11.3 MRF ltd. 87
- 11.3.1 Company Overview 87
- 11.3.2 Financial Overview 87
- 11.3.3 Product Offering 89
- 11.3.4 Strategy 90
- 11.3.5 Key developments 90
- 11.4 Ceat Tyres Ltd. 91
- 11.4.1 Company Overview 91
- 11.4.2 Financial Overview 91
- 11.4.3 Product Offering 92
- 11.4.4 Strategy 93
- 11.4.5 Key Developments 93
- 11.5 Continental Corporation 94
- 11.5.1 Company Overview 94
- 11.5.2 Financial Overview 94
- 11.5.3 Product Offering 95
- 11.5.4 Strategy 95
- 11.6 Michelin 96
- 11.6.1 Company Overview 96
- 11.6.2 Financial Overview 96
- 11.6.3 Product Offering 97
- 11.6.4 Strategy 98
- 11.6.5 Key Developments 98
- 11.7 Pirelli 99
- 11.7.1 Company Overview 99
- 11.7.2 Financial Overview 99
- 11.7.3 Product Offering 100
- 11.7.4 Strategy 101
- 11.8 Yokohama Tire Corporation 102
- 11.8.1 Company Overview 102
- 11.8.2 Financial overview 102
- 11.8.3 Product Offering 103
- 11.8.4 Strategy 104
- 11.9 Toyo Tire & Rubber Co., Ltd. 105
- 11.9.1 Company Overview 105
- 11.9.2 Financial Overview 105
- 11.9.3 Product Offering 106
- 11.9.4 Strategy 106
- 11.9.5 Key Developments 107
- 11.10 Cooper Tire & Rubber Company 108
- 11.10.1 Company Overview 108
- 11.10.2 Financial Overview 108
- 11.10.3 Product Offering 109
- 11.10.4 Strategy 109
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
