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Run Flat Tire Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
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Run Flat Tire Market
1. The global run flat tire market is expected to grow at a CAGR of XX% during the forecast period
The global run flat tire market is expected to grow at a CAGR of XX during the forecast period. This market is driven by the growing demand for run flat tires from the automotive industry. Run flat tires are tires that can continue to be used even after they have been punctured. These tires are designed to allow the vehicle to continue to be driven even after a puncture has occurred. This enables the driver to reach a safe location, where the tire can be repaired or replaced.

The automotive industry is the major end-user of run flat tires. Run flat tires are used in passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment is the largest user of run flat tires. The demand for run flat tires from the passenger car segment is driven by the need for enhanced safety and comfort. Run flat tires provide enhanced safety as they allow the driver to continue to drive the vehicle even after a puncture has occurred. These tires also provide enhanced comfort as they eliminate the need for a spare tire.

The Asia-Pacific region is the largest market for run flat tires. The demand for run flat tires in the Asia-Pacific region is driven by the growing automotive industry in the region. The Asia-Pacific region is home to some of the largest automotive markets in the world, such as China, India, and Japan. The growing demand for vehicles in these countries is driving the demand for run flat tires.

The major players in the run flat tire market are Bridgestone Corporation, Continental AG, Michelin, Pirelli & C. S.p.A., and The Goodyear Tire & Rubber Company.

Bridgestone Corporation is the largest player in the run flat tire market. The company has a strong presence in the North American and European markets. Continental AG is the second-largest player in the run flat tire market. The company has a strong presence in the European market. Michelin is the third-largest player in the run flat tire market. The company has a strong presence in the North American, European, and Asia-Pacific markets.

The run flat tire market is highly competitive with a large number of players. The major players in the

2. The market is driven by the increasing demand for fuel-efficient vehicles
The market is driven by the increasing demand for fuelefficient vehicles. The ability of run flat tires to maintain their shape and provide a comfortable ride even when they are punctured has made them increasingly popular among consumers. In addition, the rising price of fuel has made people more conscious about fuel efficiency, leading to the increased demand for fuel-efficient vehicles.

The run flat tire market is expected to grow at a CAGR of 6.8% from 2020 to 2025. The major drivers for the market are the increasing demand for fuel-efficient vehicles and the stringent emission norms. The run flat tires offer various benefits such as extended mobility, improved safety, and reduced fuel consumption. These tires can be used for a long distance even after a puncture, which helps in reducing the chances of accidents. The run flat tires also help in reducing the fuel consumption as they are designed to maintain their shape even when they are punctured.

The major restraints for the market are the high cost of these tires and the lack of awareness among consumers. The run flat tires are generally more expensive than the regular tires. This is due to the special construction of these tires, which includes reinforced sidewalls and bead seats. The lack of awareness among consumers is another major restraint for the market. The consumers are not aware of the benefits of these tires and the difference between regular tires and run flat tires.

The major opportunities for the market are the increasing demand from the Asia-Pacific region and the development of new applications. The Asia-Pacific region is expected to be the fastest-growing market for run flat tires due to the increasing demand from countries such as China, India, and Japan. The increasing demand from the Asia-Pacific region is due to the growing automotive industry in the region. The development of new applications is another major opportunity for the market. The run flat tires are being increasingly used in aircrafts, military vehicles, and construction equipment.

The major players in the market are Bridgestone Corporation (Japan), Michelin (France), Continental AG (Germany), Pirelli & C. S.p.A. (Italy), and Goodyear Tire & Rubber Company (US).

3. Run flat tires offer significant advantages over conventional tires
As the name suggests, run flat tires are designed to keep running even after they’ve been punctured. That means you can keep driving on them until you can get to a safe place to change them.

There are several advantages of run flat tires over conventional tires:

1. You can keep driving after a puncture: With a conventional tire, a puncture means you have to stop and change the tire. With a run flat tire, you can keep driving until you can get to a safe place to change it.

2. You don’t have to worry about a spare tire: With a conventional tire, you have to carry a spare tire with you in case of a puncture. With a run flat tire, you don’t have to worry about that because you can keep driving even with a puncture.

3. They’re more puncture-resistant: Run flat tires are made with stronger sidewalls that are less likely to be punctured in the first place.

4. They’re more durable: Run flat tires are designed to last longer than conventional tires.

5. They offer a smoother ride: Run flat tires offer a smoother ride than conventional tires because they’re made with softer compounds.

If you’re considering run flat tires for your vehicle, there are a few things to keep in mind. They’re more expensive than conventional tires, and they’re not available for all vehicles. But if you’re looking for a tire that can offer some significant advantages, run flat tires are worth considering.

4. The market is segmented by vehicle type, tire type, and geography
The automotive tire market is segmented by vehicle type, tire type, and geography. Vehicle type segmentation includes passenger cars, two-wheelers, commercial vehicles, and off-highway vehicles. The tire type segmentation includes all-season tires, winter tires, summer tires, and all-terrain tires. The market is further segmented by geography into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The all-season tires segment is anticipated to grow at the highest CAGR during the forecast period. The increasing demand for all-season tires from the passenger car segment is the key factor driving the growth of this segment.

The North American region is estimated to be the largest market for automotive tires, followed by Europe. The growing demand for passenger cars and commercial vehicles in the region is the key factor driving the growth of the automotive tire market in North America.

The Asia-Pacific region is anticipated to be the fastest-growing market for automotive tires during the forecast period. The growing demand for passenger cars and two-wheelers in the region is the key factor driving the growth of the automotive tire market in Asia-Pacific.

The key players in the automotive tire market are Michelin (France), Bridgestone (Japan), Continental (Germany), Pirelli (Italy), and Goodyear (US).

5. The major players in the market are Bridgestone Corporation, Michelin North America, Inc., and Continental AG
The automotive industry is on the cusp of a major technological shift that will see the widespread adoption of electric vehicles (EVs) in the coming years. Despite the challenges posed by the pandemic, the EV market is expected to grow rapidly in the next decade, with sales expected to reach 7.2 million units by 2030.

As the EV market grows, so too will the market for run flat tires. Run flat tires are designed to continue functioning even after a puncture, and are therefore seen as a key safety feature for EVs.

The major players in the run flat tire market are Bridgestone Corporation, Michelin North America Inc, and Continental AG. These companies are all leaders in the tire industry, and have a strong presence in the EV market.

Bridgestone Corporation is the world’s largest tire manufacturer, and has been a major player in the EV market since the launch of its first EV-specific tire in 2010. The company offers a range of run flat tires for both passenger cars and commercial vehicles.

Michelin North America Inc is the second-largest tire manufacturer in the world, and has been involved in the EV market since the launch of its first EV-specific tire in 2011. The company offers a range of run flat tires for both passenger cars and commercial vehicles.

Continental AG is the third-largest tire manufacturer in the world, and has been involved in the EV market since the launch of its first EV-specific tire in 2012. The company offers a range of run flat tires for both passenger cars and commercial vehicles.

Key Players Covered in the Automotive Run Flat Tire Market:

Some of the major companies that are present in the automotive run-flat tire market include Bridgestone Corporation, Continental AG, Michelin, The Goodyear Tire & Rubber Company, Pirelli & C.S.p.A., Apollo Tires Ltd., CEAT Ltd., China National Tire & Rubber Co., Ltd., Cooper Tire & Rubber Co., Ltd., Giti Tire, Hangzhou Zhongce Rubber Co., Ltd., Hankook Tire, JK Tire & Industries Ltd., Kumho Tire Co., Inc., Nexen Tire Corporation, Nokian Tires plc, Qingdao Fullrun Tire Corp., Ltd., Sumitomo Rubber Industries, Ltd., Toyo Tire & Rubber Co., Ltd., and Yokohoma Tire Corporation among the other players.

The global automotive run-flat tire market has been segmented into run-flat tire type, application type, vehicle type, and region. By technology type, the global automotive run-flat tire market is segmented into a self-supporting and support ring system. A self-supporting run-flat tire segment is anticipated to dominate the market during the forecast period owing to rising sales of passenger vehicles.  The self-supporting tire is mostly used in passenger vehicles owing to the rising need for run-flat tire among the consumers who travel a long distance. By application type, the global automotive run-flat tire market is segmented into transportation & logistics, military & defense, agriculture, construction, and others. The military & defense segment is anticipated to hold the largest market share during the forecast period. Defense vehicles need to travel and respond quickly in an emergency. Flat tire of defense vehicle may cause a huge problem in case of emergencies. Transportation and logistics segments are anticipated to show steady growth in the market owing to rising requirements to deliver goods on scheduled time. Mostly chemical carrying vehicles are expected to adopt run-flat tires that help to give stability to vehicles even at the time of continuous loss air from the tire.

Segmentation

 

 ATTRIBUTE

 

 DETAILS
 

By Run Flat Tire Type

 

 

    • Self Supporting
    • Support Ring System
 

By Application Type

 

 

    • Transportation and Logistics
    • Military and Defence
    • Agriculture
    • Construction
    • Others
 

By Vehicle Type

 

 

    • PC
    • LCV
    • HCV
 

By Geography

 

 

    • North America (USA, Canada, and Mexico)
    • Europe (Germany, France, U.K., and Rest of Europe)
    • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
    • Rest of the World
 

By Run Flat Tire Type

 

 

    • Self Supporting
    • Support Ring System
 

By Application Type

 

 

    • Transportation and Logistics
    • Military and Defence
    • Agriculture
    • Construction
    • Others
 

By Vehicle Type

 

 

    • PC
    • LCV
    • HCV

Bridgestone Corporation, Continental AG, Michelin, The Goodyear Tire & Rubber Company, Pirelli & C.S.p.A., Apollo Tires Ltd., CEAT Ltd., China National Tire & Rubber Co., Ltd., Cooper Tire & Rubber Co., Ltd., Giti Tire, Hangzhou Zhongce Rubber Co., Ltd., Hankook Tire, JK Tire & Industries Ltd., Kumho Tire Co., Inc., Nexen Tire Corporation, Nokian Tires plc, Qingdao Fullrun Tire Corp., Ltd., Sumitomo Rubber Industries, Ltd., Toyo Tire & Rubber Co., Ltd., and Yokohoma Tire Corporation among the other players.

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