Air Sea Logistics & Automotive Transportation News

Automotive tubeless tire market: China & Japan acquiring more than 75% of total market share

Automotive and Transportation Market Research

advancement in tire industry in terms of materials such as light weight tubeless tires, using advance methodology to utilize rubber to reduce the cost of tire, is expected to drive the global automotive tubeless tire market.

Global automotive tubeless tire industry Make an Inquiry about this news is expected to grow at a CAGR of 6.2% over the forecast period and reach the valuation of USD 192.8 billion by 2024. Expansion strategies of major players, for instance, Yokohama Rubber, Apollo Tires, and others are looking forward to acquiring tire manufacturing companies to expand their operations in the untapped market tends to boost the growth of automotive tubeless tire market in near future.

Tubeless tires are preferred by the OEMs as compared to the aftermarket because of its high cost over traditional tires. Tubeless tires are basically of two types radial and bias.