According to a research report titled ‘Airless Tires Market Size By Product (Radial, Bias), By Vehicle (Military Vehicles, Passenger & Commercial Vehicles, Terrain Vehicles, Utility Vehicles, Two-wheelers), By Material (Rubber, Plastic), By Sales Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with MarketStudyReport, airless tires market is anticipated to garner lucrative returns by the year 2026.
 

Surging demand from numerous vehicle segments is majorly propelling the airless tires market growth. Furthermore, new and continuous advancements in automotive vertical as well as consumer awareness about the same will stimulate the industry outlook.
 

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For the uninitiated, airless tires are mostly produced using either solid rubber or plastic, and are actively utilized on a commercial level in trailers, golf carts, and lawnmowers, etc. These tires are sustainable as they require lesser energy and raw materials for their production.
 

As airless tires do not get punctured, it saves time required to change flat tires. This factor, coupled with lightweight feature leading to improved fuel-efficiency of vehicle, and consumer convenience are impelling the product adoption, adding to market value.
 

Based on the product, airless tires market is segmented into radial, and bias. While in terms of vehicle, the industry is branched into military vehicles, passenger & commercial vehicles, terrain vehicles, two-wheelers, and utility vehicles.
 

In terms of material, the marketplace is split into rubber, and plastic. Whereas by sales channel, the industry is bifurcated into OEM, and aftermarket.
 

Considering the geographical landscape, the market spans across North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Russia, Poland), Asia Pacific (China, Japan, India, South Korea, Australia), Latin America (Brazil, Mexico, Argentina), and Middle East & Africa (Saudi Arabia, UAE, South Africa). As per the report, Middle East & Africa market accounted for 6% revenue share in the recent past, owing to rising commercial and military vehicle sales in the region.
 

The key players in worldwide airless tires marketplace are The Goodyear Tyre & Rubber Company, Resilient Technologies LLC, Bridgestone Corporation, Hankook Tire & Technology, Sumitomo Rubber Industries Ltd., Toyo Tires Corporation, The Michelin Group, Amerityre Corporation, Cooper Tire & Rubber Company, and Harris Tire Co.