The Global Tire Tubeless Valve Market was worth US$ 1.43 billion in 2022 and is anticipated to reach a valuation of US$ 1.9 billion by 2028 and is predicted to register a CAGR of 5.20% during 2023-2028.
Market Overview:
A tire tubeless valve is a small component that is inserted into the rim of the wheel of the tubeless tire. It allows air to enter and exit the tire, which is necessary for maintaining the tire's air pressure. The valve is typically made of metal or rubber, and it has a stem that extends through the rim. The stem has a valve core that can be unscrewed to allow air to be blown or removed from the tire. The core of the valve has a spring that prevents the air from leakage.
Market Drivers:
Tubeless tires are becoming increasingly popular as there are fewer chances of them to puncture than traditional tube-type tires. This is because the tire bead is held in place by the rim and the tire itself rather than by an inner tube. Even if the tubeless tire gets punctured, the air will leak out slowly so that the driver will get some time to reach the closest repair place.
The process of fixing the puncture of a tubeless tire is much easier as compared to a tubed tire. A sealant can be applied, which stops air leakage. While the regular tubed tire, if punctured, needs the tube to be changed. These are the reasons for the rising demand for tubeless tires and thus driving the tire tubeless valve market towards growth.
As the demand for vehicles is increasing, the production of vehicles is also increasing, which ultimately increases the requirement of the tire tubeless valve market. So, it can be said that growth in the automotive sector is a driver for the growth of the tire tubeless valve market.
The aftermarket of tires is the market in which the tires are sold to the users after the vehicle is sold by the manufacturers. The market value of the aftermarket segment is increasing as the number of vehicles on the road is increasing day by day. The tires are advised to be changed after 35000 km of usage. Thus, these vehicles depend on the aftermarket for the replacement of the tires.
Market Restraints:
Tubeless valves are typically more expensive than traditional pneumatic valves. This is because they are made of materials that require more specialized manufacturing processes. The high cost of tubeless valves could limit their adoption of the tire tubeless valve market in some economies, especially those with lower incomes. For instance, in some underdeveloped countries, where tubeless tires are being made in the country, and the valves are imported, the cost of valves will be more than the tire. Hence, the market demand is reducing with the rising cost of tubeless valves.
Tubeless valves can be more difficult to install than traditional pneumatic valves. This is because they require a special tool to remove the old valve and install the new one. The complexity of installation could discourage some people from replacing their valves, especially if they are not comfortable working on their vehicles on their own. This can act as a restraint for the tire tubeless valve market.
Some people might not be aware of the benefits of using tubeless tires and tubeless valves. This could also slow down the adoption of tubeless valves in some markets. For instance, if a user is not aware that tubeless valves can help to improve fuel efficiency, he or she may not be motivated to switch to this type of valve. The lack of proper knowledge of the benefits of the tubeless valve is degrading the market growth rate.
Market Opportunities:
Using tubeless tires provide better fuel efficiency, improved handling of the vehicle, and minimal risk of the tires getting punctured. As the road infrastructure develops, the number of vehicles being used automatically rises, and this ultimately increases the scope for growth in the tire tubeless valve market.
As awareness of using tubeless tires over tubed tires is increasing, the market share of tire tubeless valves will increase gradually in the near future.
Market Recent Developments:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
5.20% |
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Segments Covered |
By Type, Application, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Continental, Baolong, and Alligator, Hamaton, Wonder, Schrader, and Others. |
Market Segmentation:
The rubber tire valves segment is leading the tire tubeless valve market with higher shares. Rubber tire valves have many advantages over metal tire valves. Like, they are more flexible, and leakage from rubber valves is far less as compared to metal valves. These valves are preferred in vehicles meant for off-roading, and also, the problem of corrosion is not seen in rubber tire valves.
However, metal tire valves are much more durable than rubber tire valves. The damage over usage is very minimal in metal valves as compared to rubber valves. In high-performance vehicles, metal tire valves are mostly preferred due to all these advantages that it provides.
The passenger car segment is leading the tire tubeless valve market with the highest share of 45%. As the demand for passenger cars is increasing, this segment share is rising with time.
The two-wheelers segment stands second in the tire tubeless valve market with 25% of shares. The major part of the market share in two wheelers segment comes from Asian countries like India, Japan, and China, which has the highest sales of the two-wheeler.
The commercial vehicles segment holds a 15% market share and is increasing as many new markets are still there to be fully penetrated.
The Off-road vehicles segment has a market share of a 10% and is rising slowly as off-roading vehicles are gaining popularity in many areas now.
The agriculture machinery segment has a 5% market share. The usage of agricultural machinery is increasing slowly as more and more farmers are shifting toward advanced modern farming techniques.
Market Regional Analysis:
The Global Tire Tubeless Valve Market Report includes the segmentation of regions:
Asia Pacific region is ruling the tire tubeless valve market with around 40% market share. The region is the biggest market for the automobile industry and also has some of the largest manufacturing plants in the world, like Suzuki, Hero, Honda, and others.
Europe stands second in the list with 25% of market share. European countries like Germany and Italy are the home of some of the most powerful and premium automobile manufacturers like Ducati, Ferrari, Porsche, and others.
Regions like North America, Latin America, and the Middle East & Africa are not experiencing much demand for tire tubeless valves, and that is the reason the growth rate is much slower in these regions as compared to Asia Pacific and Europe. Therefore, the market share of North America, Latin America, and Middle East & Africa is just 20%, 10%, and 5%, respectively.
The COVID-19 pandemic caused a significant decrease in the demand for vehicles. The main reasons for this were government-imposed travel restrictions, social distancing guidelines, and a general fear of contracting the virus among people. As a result, fewer people were driving, which led to a decrease in the demand for the tire tubeless valve market ultimately. The global supply chain got distorted during the COVID-19 pandemic, which resulted in a shortage of raw materials for the producers in the tire tubeless valve market, and also, the delivery of finished valves to the consumers was not possible. This caused many tire manufacturers to exit from the tire tubeless valve market. This had a very severe impact on the tire tubeless valve market. In the post-pandemic era, as the restrictions on traveling were withdrawn, the tire tubeless valve market started growing slowly as vehicle usage increased again and also the production in automobile sector restarted.
Market Key Players:
Frequently Asked Questions
The Global Tire Tubeless Valve Market is expected to grow with a CAGR of 5.20% between 2023-2028.
The Global Tire Tubeless Valve Market size is expected to reach a revised size of US$ 1.9 billion by 2028.
Continental, Baolong, and Alligator are the three Tire Tubeless Valve Market key players.
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