What is Global Self-Supporting Run-flat Tire Market?
The Global Self-Supporting Run-flat Tire Market is an intriguing sector of the automotive industry that has been gaining significant attention in recent years. Essentially, this market revolves around the production and distribution of self-supporting run-flat tires. These are a type of automobile tire designed to resist the effects of deflation when punctured, enabling the vehicle to continue to be driven at reduced speeds and for limited distances. The global market for these tires is vast and diverse, encompassing a wide range of manufacturers, suppliers, and consumers spread across different regions. The market's value was estimated at US$ 4046.6 million in 2023, and it is projected to reach US$ 5375.3 million by 2030. This growth is driven by various factors, including advancements in tire technology, increasing demand for high-performance tires, and the rising prevalence of tire-related accidents and breakdowns.
RD Below 20 Inch, RD Above 20 Inch in the Global Self-Supporting Run-flat Tire Market:
The Global Self-Supporting Run-flat Tire Market is segmented based on rim diameter (RD), with two primary categories: RD Below 20 Inch and RD Above 20 Inch. The RD Below 20 Inch segment includes tires with a rim diameter of less than 20 inches. These tires are typically used in smaller vehicles, such as compact cars and sedans. On the other hand, the RD Above 20 Inch segment comprises tires with a rim diameter of more than 20 inches. These tires are commonly used in larger vehicles, like SUVs and trucks. Each segment has its unique market dynamics, influenced by factors like vehicle type, driving conditions, and consumer preferences. For instance, the demand for RD Below 20 Inch tires is primarily driven by the high sales volume of compact cars and sedans in regions like Asia-Pacific and Europe. Conversely, the RD Above 20 Inch segment is expected to witness significant growth in North America, owing to the popularity of SUVs and trucks in this region.
Original Equipment, Replacement in the Global Self-Supporting Run-flat Tire Market:
The Global Self-Supporting Run-flat Tire Market finds its application in two main areas: Original Equipment and Replacement. Original Equipment refers to the tires that are installed on new vehicles by the manufacturers. These tires are specifically designed to match the performance characteristics of the vehicle. The Replacement segment, on the other hand, involves the tires that are purchased by vehicle owners to replace the worn-out or damaged tires on their vehicles. The dynamics of these two segments are quite different. The Original Equipment segment is directly influenced by the production volume of new vehicles, while the Replacement segment is driven by factors like vehicle age, driving habits, and road conditions. Both segments play a crucial role in the overall market, contributing to its growth and development.
Global Self-Supporting Run-flat Tire Market Outlook:
The market outlook for the Global Self-Supporting Run-flat Tire Market is quite promising. In 2023, the market was valued at US$ 4046.6 million, and it is expected to reach US$ 5375.3 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period from 2024 to 2030. This growth can be attributed to several factors, including the increasing demand for high-performance tires, advancements in tire technology, and the rising prevalence of tire-related accidents and breakdowns. Furthermore, the export volume of rubber tires from China, a major player in the global tire market, has been on the rise. In 2022, the cumulative export volume of rubber tires from China was 7.65 million tons, marking a year-on-year increase of 4.7%. The export value was 131.418 billion, indicating an increase of 16%, and the trade surplus was 103.709 billion yuan, an increase of 15.89 billion. These figures highlight the robust growth and potential of the Global Self-Supporting Run-flat Tire Market.
| Report Metric | Details |
| Report Name | Self-Supporting Run-flat Tire Market |
| Accounted market size in 2023 | US$ 4046.6 million |
| Forecasted market size in 2030 | US$ 5375.3 million |
| CAGR | 4.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Bridgestone, Michelin, GoodYear, Continental, Pirelli, Hankook, Sumitomo, Yokohama, Giti, Kumho, Maxxis |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
