Market Research Report
Global Automotive Run-flat Tires Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||905973|
|Published||Content info||130 Pages
Delivery time: 1-2 business days
|Global Automotive Run-flat Tires Market 2019-2023|
|Published: August 6, 2019||Content info: 130 Pages||
Automotive run-flat tires allow the vehicle to continue to be driven to a certain distance at a reduced speed even if air pressure is reduced to zero. These tires offer comfort and convenience while driving by eliminating the immediate need for replacement. Technavio's automotive run-flat tires market analysis considers sales from both OEM and aftermarket. Our analysis also considers the sales of automotive run-flat tires in APAC, Europe, North America, South America, and MEA. In 2018, the OEM segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing fitment of run-flat tires as a standard accessory will play a significant role in the OEM segment to maintain its market position. Also, our global automotive run-flat tires market report also looks at factors such as benefits associated with the use of run-flat tires, increasing sales of luxury vehicles, growing demand for run-flat tires in the aftermarket. However, drawbacks associated with run-flat tires, stringent regulations on run-flat tire labeling, the growing use of self-healing technology in tires may hamper the growth of the automotive run-flat tires industry over the forecast period.
The growth of the global automotive run-flat tires market is primarily driven by the advantages associated with the use of run-flat tires. Enhanced safety and convenience are some advantages that increase the value proposition of run-flat tires. Another advantage of using run-flat tires is reduced risk of on-road collision or accidents. In addition, run-flat tires support the vehicle to run up to an average distance of about 80 to 100 miles after deflation, which is crucial when tire puncture or deflation occurs in an uninhabited region or area. These benefits will lead to the expansion of the global automotive run-flat tires market at a CAGR of over 3% during the forecast period.
The global automotive run-flat tires market is witnessing various trends that are expected to positively impact the market in focus during the forecast period. Prominent vendors operating in the global automotive tires market are using advanced materials, technologies, and processes to increase the value proposition of their tires. Technological advances enable the efficient use of rubber compounds in tire construction, without compromising on tire durability and reliability. It also offers low rolling resistance due to ION tire weight and makes use of a proprietary compound mix, which results in thinner tread depth, better-reinforced liner, and reduced wear and tear. Such developments are expected to be incorporated in run-flat tires soon and will act as a market enabler during the forecast period.
For the detailed list of factors that will drive the global automotive run-flat tires market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global automotive run-flat tires market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive run-flat tires manufacturers, that include Bridgestone Corp., Continental AG, Michelin Group, Pirelli & C. Spa, The Goodyear Tire & Rubber Co., and The Yokohama Rubber Co. Ltd.
Also, the automotive run-flat tires market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key leading countries