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Run Flat Tire Market by Vehicle Type (Passenger Cars, LCV, and HCV), Tire Type (Self Supporting Type, and Support Ring Type), Rim Size (17 Inch, 18 Inch, 19 Inch, 20 Inch, 23 Inch, 24 Inch, and Others), Sales Channel (OEM, and Aftermarket), Application (Military, VIP cars, High Value Cargo Carriers, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12264
Pages: NA
Sep 2021 | 43 Views
   
Author(s) : Sonia Mutreja
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Run Flat Tire Market Outlook 2021-2030 -

A run flat tire is an automobile tire that is designed and developed to work even after the tire is punctured. These tires are relevant because in the event of a flat tire, they allow the car to be driven to a safe position where it can be replaced. However, when the tire is punctured and can only travel a certain distance depending on the type of flat tire installed in the vehicle. Run flat tires improve safety because they can better control the car in adverse and emergency situations, and consumers can drive safely and correctly even if the air pressure in the tires continues to drop. Run flat tires work well in extreme and severe climatic conditions such as pouring rains, hot and humid day or snowy and cold night. In the case of a puncture, the self-supporting run flat tire inserts will save your day, and you won’t have to bother about a replacement immediately. The run flat tires are made of plated armored sidewalls. Run flat tire are becoming more and more widely used in safety, and they have become a necessity for vehicles carrying politicians, government authorities and celebrities. They are also becoming more and more popular in the defense industry.

Market scope and structure analysis:

Report Metric

Details

 Market size available for years

 2020–2030

 Base year considered

 2020

 Forecast period

 2021–2030

 Forecast units

 Value (USD)

 Segments covered

Vehicle Type, Tire Type, Rim Size, Sales Channel, Application and Region

 Regions covered

North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa)

 Companies covered

Michelin, BMW, Bridgestone, Continental, Dunlop, Goodyear, Pirelli, Kumho, Yokohama, and Hankook Tyre.

 

COVID-19 Impact analysis

At the beginning of 2020, COVID-19 disease began to spread around the world, millions of people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and work stoppage orders. Except for the medical supplies and life support products industries, most industries have been greatly impacted, and run-flat tires industries have also been greatly affected. The vendors in run-flat tires industry across the globe is being affected severely due to the restrictions on producers as well as the declared lockdowns which in turn is affecting the seat belt system manufacturers worldwide. As the governments all over the world have declared lockdowns over the past few months, the demand and supply cycle of many run-flat tires manufacturers is vulnerable. The pandemic has had a negative impact on the run-flat tires market size for the year 2020, a major deviation is noticed in the growth of seat belt system manufacturers due to coronavirus. Majority of run-flat tires manufacturers are facing major issues such as closure of factories and unavailability of workforce due to the lockdowns which further affects the production of vehicle as well.

Top Impacting Factors

  • Increase in automobile production, stringent government regulation, and rising concern for fuel efficiency are driving the growth of the market.
  • High cost as compared to normal tire, and fluctuating price of raw material is expected to hamper the growth of the market.
  • Technological development and increasing concern for safety can be seen as an opportunity for the market investments.

The run flat tire market trends are as follows:

Fluctuating price of raw material

Due to the insufficient supply of natural rubber and the increase in input costs due to oil prices, fluctuations in raw material prices have inhibited the growth of the global run flat tire market. In addition, almost all raw materials are crude derivatives therefore linked to crude oil prices. Further, raw material used to produce run flat tires accounts for almost 75% of the production cost with synthetic and natural rubber being the key raw materials. In recent years, global crude oil prices have risen. Hence, prices of synthetic rubber and other crude derivatives used in the production of tires are expected to increase in the coming years. This in turn is expected to decrease the growth of the global run flat tires market.

Increase in automobile production

The automotive industry has seen strong growth in the past decade, mainly in countries such as China, United States, Japan, India, Germany, and the United Kingdom. The global automotive industry, in its early stage, was only concentrated in developed countries such as Japan, the U.S., and Germany. As the automotive industry standardizes, manufacturing facilities will shift their focus to developing countries such as China, Thailand, and India. Recently, the automobile industry has been growing at a rapid pace owing to speedy industrialization, which has led to an increase in the sale of commercial vehicles such as trucks, tractors, and trailers. Developing countries have witnessed an increase in automobile demand and production. For instance, India became the fourth largest automobile industry in the world with increase in sales of 9.5% year-on-year to 4.2 million units. Thus, upsurge in automobile production is anticipated to boost the growth of the global run flat tires market.

Key segments covered:

Segments

Subsegments

 Vehicle Type

  • Passenger Cars
  • LCV
  • HCV

 Tire Type

  • Self-Supporting Type
  • Support Ring Type

 Rim Size

  • 17 Inch
  • 18 Inch
  • 19 Inch
  • 20 Inch
  • 23 Inch
  • 24 Inch
  • Others

 Sales Channel

  • OEM
  • Aftermarket

 Application

  • Military
  • VIP cars
  • High Value Cargo Carriers
  • Others

 Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa


Key benefits of the report:

  • This study presents the analytical depiction of the run flat tire market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the run flat tire market.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the run flat tire market growth scenario.
  • The report provides a detailed run flat tire market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the run flat tire market research report:

  • Which are the leading market players active in the run flat tire market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the run flat tire market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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