Automotive Tubeless Tire Market Size

Tubeless Tire Market size was over USD 174.17 billion in 2023 and is anticipated to cross USD 385.39 billion by the end of 2036, witnessing more than 6.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of tubeless tire is assessed at USD 182.95 billion.

The prominent decline of flat tires and repair facilities, increased raise of two-wheelers, high safety, and reliability, increased production of vehicles, and increased accidents are estimated to boost the tubeless tire market growth during the forecast period. Most of the fitness centres in the United States are closed temporarily during COVID-19, so many Americans started cycling outdoors to stay physically active. This boosted the growth of bike sales and lead to a shortage of bikes. U.S manufacturers shipped USD 300 million of bicycles and USD 780 million of bike parts in 2019.

The ride comfort and advantage to use under low air pressure are major factors that contribute to the growth of the global tubeless tire market size. The rise of two-wheelers, increase in the cost of spare parts, and increase in disposable income is estimated to drive the growth of the market. The disposable personal income in June 2022 was USD 110 billion, increased from 0.5% to 0.6% compared to the previous month.