Global Run Flat Tyre Market Report and Forecast 2024-2032

Global Run Flat Tyre Market Outlook

The global run flat tyre market size is assessed to grow at a CAGR of 4.50% between 2024 and 2032, driven by the rising applications of run flat tyres in different classes of vehicles and the growing awareness about the benefits of run flat tyres among consumers.

Key Trends in the Market

Run flat tyres are a type of pneumatic tyre, specially designed to allow the driver to continue even after experiencing a puncture or air loss. These tyres are designed with a reinforced sidewall that can support the weight of the vehicle and maintain stability, even when the tyre is completely flat. There are different types of run flat tyres, some of which can be driven for up to 50 miles at a reduced speed, while others can be driven for a shorter distance at normal speeds.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

• One of the major factors driving the run flat tyre market growth is the rising sales of commercial and passenger cars. These tyres are increasingly being used in vehicles of different sizes as they are more stable compared to traditional tyres.

• A significant market trend is a rising need for run flat tyres in high-performance vehicles. These tyres are specially engineered to enable a vehicle to keep moving for a brief distance, even when there is a drop in air pressure. This feature is particularly crucial for high-performance cars that frequently run at high speeds.

• Another major factor propelling the run flat tyre market expansion is the rising sales of the product due to the increasing awareness among consumers about road safety. Run flat tyres provide better safety as they do not lose control in the case of tyre blowout or puncture.

Market Analysis

Based on tyre type, the market is bifurcated into self-supporting and support ring types. On the basis of vehicle type, the market can be segmented into passenger cars, LCV, and HCV. Based on rim size, the market is divided into 17 inch, 18 inch, 19 inch, and 20 inch, among others. The major regional markets for run flat tyres are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global run flat tyre market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• The Michelin Group

• Bridgestone Corporation

• Continental AG

• The Goodyear Tire & Rubber Company

• Pirelli & C. S.p.A.

• Yokohama Tire Corporation

• Hankook Tire & Technology Co., Ltd

• Zhongce Rubber Group Co., Ltd.

• Maxxis International

• Toyo Tire Corporation

• Others

Market Share by Type

Self-supporting type of run flat tyres is expected to hold a significant share of the market due to its advantageous properties that enable the vehicle to continue moving on a flat tyre for a significant distance. This type of tyre removes the need for carrying a spare tyre, enhancing the fuel efficiency of the vehicle.

Self-supporting tyres eliminate the requirement for immediate puncture repair. Manufacturers combine polyimide with glass fibre and rubber for developing sidewalls of such tyres; this addition makes them capable of carrying the car’s weight.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Share by Vehicle Type

he Asia Pacific region is expected to hold a significant run flat tyre market share, attributed to its large population, the rapidly growing automotive sector, and evolving vehicle safety standards. In particular, India is expected to dominate the market due to its substantial investment in the tyre sector.

On the other hand, Europe is projected to witness healthy growth in the forecast period due to strict regulations imposed by governments to reduce road fatalities.

Competitive Landscape

The Michelin Group is a tyre manufacturing company and one of the global leaders in the tyre sector. It has been operating since 1889 and it is currently headquartered in Clermont-Ferrand, France. It has successfully developed and manufactured services and tyres for most types of vehicles, including aeroplanes, automobiles, bicycles, motorcycles, earthmovers, farm equipment, and trucks.

Bridgestone Corporation is one of the largest international tyre manufacturing companies. It is a Japanese company, and it was founded in 1931. The company has developed a diverse product portfolio with products, ranging from tyres to products such as rubber tracks and conveyor belts, among others. It has also developed advanced tyres for various types of vehicles such as passenger cars, trucks, busses, aircraft, and construction vehicles.

Continental AG., commonly known as Continental, is one of the largest automotive parts manufacturing companies in the world. It was founded in 1871 in Hanover, Germany and has developed a wide range of high-quality products to offer a safe, efficient, intelligent, and affordable solution for vehicles, machines, and transportation.

Other market players include The Goodyear Tire & Rubber Company, Pirelli & C. S.p.A., Yokohama Tire Corporation, Hankook Tire & Technology Co., Ltd., Zhongce Rubber Group Co., Ltd., Maxxis International, and Toyo Tire Corporation, among others.

Key Highlights of the Report