The Global Run-Flat Tyres Market was valued at USD 4,492.76 million in 2018 and is expected to grow with a CAGR of 2.64% during the forecast period. However, in terms of volume, the global Run-Flat Tyres market is expected to reach USD 5,386.47 million by 2026.
The run flat tyres are specially designed tyres, which keeps working for short while even after they suffer a puncture. The run flat tyres have a unique construction, which reduces the chances of accident on the account of tire blow out. They offer reduction in weight of the spare tire, increases the fuel efficiency, and provides better balance and handling. There are primarily divided into three types self-supporting, self-sealing and auxiliary-supported. Self-supporting tyres are built with stiffer walls, which can bear the weight even after the fall of pressure in tyres. Self-sealing is an extra lining within tyres that self-seals that prevents the loss of air or it losses the air very slowly. Auxiliary-supported system is an extra ring that is attached to wheel, which supports the weight of a vehicle in an event of loss of pressure within the tyres. Additionally, run flat tyres also includes the Tyres Pressure Monitoring System (TPMS) and Electronic Stability Control (ESC) which provides stability during loss of pressure of tyres.
India Run-Flat Tyres Market Revenue, 2015 - 2026
The global Run-Flat Tyres market is primarily segmented based on types, applications and region. Based on Types the market is segmented into Self-supporting, Self-sealing, Auxiliary-supported. Based on Applications the market is segmented into Passenger Car and Light Commercial Vehicles. Further, based on region the global market is segmented into North America, Europe, Asia Pacific, South America and Middle East & Africa.
On the basis of types, self-supporting segmented dominated the global market due to enabling consumers to drive safely and properly even if there is continuous loss of air pressure inside the tires.
Further, based on applications, heavy commercial segment held maximum share in the global market. This is due to the due to their higher adoption in several application areas.
Furthermore, based on region North America dominated the global market because it have high standard of living and high disposable income, which has led to the growth of Run Flat Tire Inserts technology in automobiles. For instance, in January 2019, Bridgestone to Acquire TomTom´s Digital Fleet Solutions Business. This acquisition helped the company adds core components to its tire and diversified products as a solution strategy.
On the basis of types, the market is split into:
On the basis of applications, the market is split into:
* Passenger Car
* Light Commercial Vehicles
* Heavy Commercial Vehicles
Moreover, the market is classified based on regions and countries as follows:
* North America- U.S., Canada
* Europe- U.K., France, Germany, Italy, Spain and Rest of Europe
* Asia-Pacific- China, Japan, India and Rest of Asia Pacific
* South America- Brazil, Mexico, Argentina and Rest of South America
* Middle East & Africa- South Africa, Saudi Arabia, Turkey and Rest of Middle East & Africa
Key Market Players:
The key players profiled in the market include:
* Bridgestone Corporation
* RunFlat International Limited
* Continental AG
* Dunlop Tires (Goodyear)
* Pirelli & C. S.p.A
* Hankook Tire & Technology Co., Ltd
* Kumho Tire
* Firestone Tire and Rubber Company
* The Yokohama Rubber Company, Ltd
* Sumitomo Rubber Industries, Ltd.
* Madras Rubber Factory Limited
* JK Tyre & Industries
* Nokian Tyres
* The Goodyear Tire & Rubber Company
These enterprises are focusing on growth strategies, such as new applications launches, expansions, acquisitions, and agreements & partnerships to expand their operations across the globe.
Key Benefits of the Report:
* Global, regional, country, types, applications and market size and their forecast from 2015-2026
* Identification and detailed analysis on key market dynamics, such as, drivers, restraints, opportunities, and challenges influencing growth of the market
* Detailed analysis on industry outlook with market specific PESTLE, and supply chain to better understand the market and build expansion strategies
* Identification of key market players and comprehensively analyze their market share and core competencies, detailed financial positions, and unique selling points
* Analysis on key players’ strategic initiatives and competitive developments, such as joint ventures, mergers, and new Applications launches in the market
* Expert interviews and their insights on market shift, current and future outlook, and factors impacting vendors’ short term and long term strategies
* Detailed insights on emerging regions types, applications and options with qualitative and quantitative information and facts
* Run Flat Tyres Manufacturers
* Traders, Importers, and Exporters
* Raw Material Suppliers and Distributors
* Research and Consulting Firms
* Government and Research Organizations
* Associations and Industry Bodies
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective, such as, analyst reports of investment banks. The secondary research is the primary base of our study wherein we conducted extensive data mining, referring to verified data sources, such as, white papers, government and regulatory published articles, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factors, recent investments, market dynamics including technical growth scenario, consumer behavior, and end use trends and dynamics, and capacity were taken into consideration. Different weightages have been assigned to these parameters and quantified their market impacts using the weighted average analysis to derive the market growth rate.
The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:
* Government Body & Associations
* Research Institutes