What is Global Support Ring System Run-flat Tire Market?
The Global Support Ring System Run-flat Tire Market is a specialized segment of the tire industry that focuses on the production and distribution of run-flat tires. These are tires that can continue to function even after a puncture, allowing the vehicle to be driven to a safe location for repair. The support ring system is a key component of these tires, providing structural integrity and support to the tire even when it's deflated. This market is a global one, with manufacturers, distributors, and consumers spread across the world. The market is driven by factors such as the increasing demand for safety features in vehicles, advancements in tire technology, and the growing automotive industry. The market faces challenges such as high production costs and the need for specialized equipment and training for installation and repair. Despite these challenges, the market shows potential for growth, driven by the increasing adoption of run-flat tires in both passenger and commercial vehicles.
RD Below 20 Inch, RD Above 20 Inch in the Global Support Ring System Run-flat Tire Market:
The Global Support Ring System Run-flat Tire Market is segmented based on the rim diameter (RD) of the tires, with two main segments being RD Below 20 Inch and RD Above 20 Inch. The RD Below 20 Inch segment includes tires that are designed for smaller vehicles, including compact cars, sedans, and some SUVs. These tires are typically more affordable and are widely used in urban areas where the risk of tire punctures is high due to road conditions. On the other hand, the RD Above 20 Inch segment includes tires designed for larger vehicles, including luxury cars, large SUVs, and commercial vehicles. These tires are typically more expensive and offer better performance and durability. The demand for these tires is driven by factors such as the increasing popularity of large vehicles, the growing demand for high-performance tires, and the increasing focus on vehicle safety. Both these segments have their unique market dynamics, with different factors influencing their growth.
Original Equipment, Replacement in the Global Support Ring System Run-flat Tire Market:
The Global Support Ring System Run-flat Tire Market finds its usage 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 typically high-quality and are designed to meet the specific performance requirements of the vehicle. The demand in this segment is driven by the production of new vehicles. The Replacement segment, on the other hand, refers to the tires that are purchased by vehicle owners to replace their existing tires. The demand in this segment is driven by factors such as tire wear and tear, punctures, and the desire for upgraded tires. Both these segments are crucial for the market, with the Original Equipment segment providing a steady demand for new tires, and the Replacement segment providing a recurring demand for tires.
Global Support Ring System Run-flat Tire Market Outlook:
The Global Support Ring System Run-flat Tire Market has shown a steady growth over the years. In 2023, the market was valued at US$ 1141.3 million and is expected to reach US$ 1381 million by 2030, growing at a CAGR of 2.8% during the forecast period of 2024 to 2030. This growth can be attributed to the increasing demand for run-flat tires, advancements in tire technology, and the growing automotive industry. In 2022, China, a key player in the tire industry, exported 7.65 million tons of rubber tires, marking a year-on-year increase of 4.7%. The export value was ¥131.418 billion, an increase of 16%, contributing to a trade surplus of 103.709 billion yuan, an increase of ¥15.89 billion. These figures indicate the strong performance and potential of the tire industry and the run-flat tire market in particular.
| Report Metric | Details |
| Report Name | Support Ring System Run-flat Tire Market |
| Accounted market size in 2023 | US$ 1141.3 million |
| Forecasted market size in 2030 | US$ 1381 million |
| CAGR | 2.8% |
| 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 |
