A run-flat tire is a vehicle tire designed to resist deflation when punctured and allow the vehicle to continue driving at a slower speed and for a limited distance. Run-flat tires increases safety and convenience while lowering the danger of collisions and accidents on the road. In the case of under-inflation, run-flat tires can stabilize the vehicle so that it does not deviate from its planned trajectory and allow it to continue at low speeds for a distance of about 80 to 100 miles. Run-flat tires can also assist reduce vehicle weight because they do not require spare tires and tire repair kits or tools.
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COVID-19 Impact Analysis
- The COVID-19 outbreak has widely disrupted the automotive industry. It has resulted in shut down of manufacturing facilities and a decline in the sales volume. Furthermore, the demand for both commercial and passenger vehicles is expected to fall in 2020. This decline, as expected, will adversely affect the run-flat tires industry, as vehicle production is directly proportional to the run-flat tires industry. The budget allocation for R&D is expected to be reduced, which hamper the development of automotive run-flat tires. Companies are taking precautionary measures to combat the adverse effects of the outbreak.
Top Impacting Factors
Increase in safety and security concerns pertaining to road safety, rise in use of run flat tires as a necessary fitment accessory, and surge in consumer demand and awareness drive the growth of the global run flat tires market.
Growth in the use of self-healing technology and adhering to the labeling standards of run flat tires hinder the growth of the global run flat tires market.
Increase in technological development and new product launches by the major OEMs provide lucrative opportunities for the global run flat tires market.
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Market Trends
Emergence of Smart Tires
- Several trends are influencing the global run-flat tire market, which are expected to have a positive impact on the market during the forecast period. Recognized suppliers operating in the global automotive tire market are enhancing the value proposition of their tires with advanced materials, technologies, and processes. Continental, for example has developed innovative tire technologies such as ContiSense and ContiAdapt to improve comfort and safety. ContiSense monitors tire temperature and depth in real-time using advanced sensors and conductive rubber compounds. The efficient use of rubber compounds in tire construction is possible, without compromising the durability and reliability of tire because of this technological development Due to the weight of the ION rim has minimal rolling resistance and employs a unique composite compound, which results in a thinner tread depth, superior reinforcement coating, and reduced wear. These developments will be incorporated in the run-tires in the coming years, thereby driving the growth of the automobile run-flat tire market. Apart from the emergence of smart tires, other factors, such as the increase in the number of run-flat tires and the increase in the utilization of advanced technologies in tire processing, have a significant impact on the market growth of run-flat tires during the forecast period.
Key Benefits of the Report:
- This study presents the analytical depiction of the run-flat tires industry 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 run-flat tires market.
- The current market is quantitatively analyzed to highlight the growth scenario of the run-flat tires market.
- The report provides a detailed run-flat tires market analysis based on competitive intensity and the competition that will take shape in coming years.
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Questions Answered in the Run-Flat Tires Market Research Report:
- Who are the leading market players active in the run-flat tires market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the run-flat tires market?
- What are the future projections that would help in taking further strategic steps?
Run-flat Tires Market Report Highlights
| Aspects | Details |
|---|---|
| By Vehicle Type | Passenger CarsLCVHCV |
| By Tire Type | Self-Supporting TypeSupport Ring Type |
| By Rim Size | 17-inch18-inch19-inch20-inch23-inch24 -inchOthers |
| By Sales Channel | OEMAftermarket |
| By Application | MilitaryVIP CarsHigh Value Cargo CarriersOthers |
| By 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 Market Players | Kumho,, Goodyear Tire and Rubber Company,, Hankook, Pirelli, Continental AG, Dunlop,, Bridgestone,, The Yokohama Rubber Co. Ltd.,, Michelin,, Sumitomo Rubber Industries, Ltd., |
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