Market Research Future (MRFR) has launched a new release on the global Electrical Tapes Market. The report presents a thorough overview of the global Tubeless Tire Sales on the back of a detailed analysis of the market’s historical growth trajectory and leading segments. The market’s historical growth trajectory is assessed in detail in the report in order to understand the major factors underlying the market’s growth in the study period.Market Synopsis:
The tire industry has been flourishing due to rising sales of automobiles. The introduction of tubeless tires has further boosted the growth of the industry. In this report, Market Research Future (MRFR) presents a detailed analysis of the global Tubeless Tire Sales. It reveals that the global market is presumed to mark 7.15% CAGR during the assessment period. The valuation of the Tubeless Tire Sales is expected to exceed USD 200 Bn mark by 2022 up from USD 131.3 Bn in 2016. The market is assessed to attract investments over the next couple of years.
Tubeless tires have a longer lifespan compared to the traditional ones as it does not require inner tubes. It doesn't get punctured easily which is expected to drive the expansion of the Tubeless Tire Sales in the years to come. The product has already gained much popularity and is highly preferred by the customers. It lowers the maintenance cost of the vehicle. It is poised to lead the proliferation of the Tubeless Tire Sales in the foreseeable future. Also, these tires are proven to be safer than the traditional ones, which are anticipated to enable revenue generation for the players of the Tubeless Tire Sales.
The growth of the automotive industry is another driver of the Tubeless Tire Sales. Increasing sales of automobiles are anticipated to lead the proliferation of the Tubeless Tire Sales in the coming years. The rising use of tubeless tires in two wheelers is a major driving factor of the market. The developing economies are prime markets for the product. In addition, the aftermarket for the product is also anticipated to boost its growth rate. Increasing expansion of the aftermarket is supposed to impact the Tubeless Tire Sales favorably over the forecast period.
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Market Segmentation:
On the basis of tire type, the Tubeless Tire Sales has been divided into radial and bias.
On the basis of vehicle type, the Tubeless Tire Sales has been segmented into passenger car, commercial vehicles, and others
On the basis of distribution channel, the Tubeless Tire Sales has been divided into OEM and aftermarket.
Competitive Dashboard:
Bridgestone Corporation (Japan), Madras Rubber Factory (MRF) Limited (India), The Goodyear Tyre & Rubber Company (U.S.), CEAT Tyres ltd. (India), Michelin (France), Continental Corporation (Germany), Pirelli & C. S.p.A (Italy), Toyo Tire & Rubber Co., Ltd. (Japan), Yokohama Tire Corporation (U.S.), and Cooper Tire & Rubber Company (U.S.) are few of the key players of the Tubeless
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