Pune, India -- (SBWire) -- 10/29/2018 --"Our latest research report entitled Tubeless Tire Market (by type (radial tubeless tire and bias tubeless tire), vehicle type (two-wheeler, passenger car and commercial vehicle), and distribution channel (OEM and aftermarket)) provides complete and deep insights into the market dynamics and growth of Tubeless Tire. Latest information on market risks, industry chain structure Tubeless Tire cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Tubeless Tire growth factors.
The forecast Tubeless Tire Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Tubeless Tire on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report."
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Yokohama to Expand Off-Highway Tire Production Capacity in India
In January 2018-, The Yokohama Rubber Co. announced to expand the Yokohama Group's global production capacity for off-highway tires by adding new facilities at ATC Tires Pvt., the Indian tire manufacturing and sales subsidiary of the Alliance Tire Group (ATG), which Yokohama Rubber acquired in July 2016. Construction of the new facilities began in February at ATC Tire's Dahej Plant in the state of Gujarat.
The investment will boost Dahej Plant's annual production capacity from the current 57,000 tons to 91,700 tons by the end of 2019. With its tire sales on a strong upward trend, Yokohama Rubber decided to expand production capacity to avoid insufficient supply capacity in the medium term according to the company.
Goodyear, Stratim Partner for Tire Maintenance Pilot Program
In January 2018- Goodyear has launched an advanced tire maintenance pilot program with Stratim Systems Inc., a San Francisco-based startup whose technology platform tracks, monitors and oversees fleet maintenance for thousands of vehicles operated by more than 50 mobility services in more than 25 markets across North America. Stratim provides a unified platform for the management and maintenance of fleets and optimizes logistics to enable transportation companies to deliver better, more modern mobility experiences.
Under the new program, Goodyear's proprietary artificial intelligence technology will help Stratim's clients predict when their tires need service or replacement to improve overall tire management and maximize uptime across the fleet, the companies said.
Aforementioned Benefits Offered By Tubeless Tire to Promote Growth in the Tubeless Tire Market
Tubeless tire offers several benefits over tube tires such as the ability to run at lower pressures. A tube will get pinched when the pressure is low, leading to a puncture, this does not happen with tubeless tires. In addition, the tubeless tire has the advantages to be filled with liquid sealants. If a sharp object does put a hole in a tubeless tire, the liquid sealant immediately oozes out and dries up, sealing the hole. Moreover, these tires are light in weight that affects the mileage of the vehicle. Furthermore, the use of tubeless provides stability and reduces unwanted friction. These aforementioned benefits offered by tubeless tire over tube tire is the key factor driving the growth for the tubeless tire.
Worn out of the old tire incite a vehicle user to replace the tire with a tubeless tire. This factor to influence the demand of tubeless tire market. Moreover, increasing number of 2-wheelers and 4-wheelers production to directly drive the demand for the tubeless tire production. Vehicles manufacturers prefer tubeless tire to traditional tube tire during the production of the automobiles owing to several advantages offered by the tubeless tire. In addition, fixing punctures of tubeless tires is relatively easy when compared to tube tires. However, with the high cost of the tubeless tire is a major constraint for the growth of the tubeless tire market.
Asia Pacific Region to Contribute To Growth in the Global Tubeless Tire Market
Among the regions, the Asia Pacific region held the highest market share in the tubeless tire market and is expected to remain dominant throughout the forecast period, 2018-2024. The advancement in this region is mainly attributed owing to surge in passenger and commercial vehicles. In addition, factors such as flourishing economies, rising disposable income among the citizens and a burgeoning population are influencing the growth of the tubeless tire market. South America and the Middle East region are expected to witness stable growth rate during the forecast period, owing to recovery in economic conditions.
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Tubeless Tire Market with Focus on Emerging Technologies, Regional Trends, Competitive Landscape, Regional Analysis & Forecasts to 2024
The report is a comprehensive presentation of trends, forecast and dollar values of global tubeless tire market. According to report the global tubeless tire market is projected to grow at a CAGR of 7.1% over the forecast period of 2018-2024.