Dublin, May 12, 2022 (GLOBE NEWSWIRE) -- The "Global Noiseless Tire Market, By Vehicle Type, By Tire Construction Type, By Demand Category, By Price Segment, By Region, Competition Forecast and Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
The global noiseless tire market is expected to grow at a significant rate during the forecast period. The growth can be attributed to the rising levels of noise pollution and advancements in tire technology. High-end investments by market players for research and development activities and increasing penetration of advanced vehicles are propelling the demand for noiseless tires.
Noiseless tires produce low noise or no noise at high speeds. Noiseless tires are in high demand among consumers as they improve the overall driving experience. While producing the tires after the tire is cured in its mold, manufacturers add a thick layer of foam or sound-absorbing sponge to the inner line of the tire, either as a continuous piece or comprised of several shorter sections to make the tires noiseless.
Increase in Demand for Noiseless Tires in Electric Vehicles Drives Market Growth
Growing environmental concerns and the stringent government policies and norms emphasizing the use of zero-emission vehicles lowering the adverse impact of greenhouse gases on the environment are fueling the sales of electric vehicles around the globe. The development of charging stations and the availability of subsidies and income tax rebates in several developing economies are accelerating the adoption of electric vehicles worldwide. Electric vehicles run on electricity and do not support engines, resulting in no noise while driving the vehicles. Noiseless or quiet tires are in demand among electric vehicle manufacturers as the noise source in electric vehicles is from tires. Surge in electric vehicle production, and with the purchasing power of consumers, the demand for noiseless tires is expected to witness significant growth in the forecast period.
Growing Sales and Production of Luxury Vehicles Supports Market Growth
Luxury vehicle manufacturers are constantly seeking innovative solutions to enhance the performance and comfort of drivers while driving an automobile. High-end investments by the market players in research activities to upgrade the existing infrastructure to lower the interior noise level are paving the way for market growth. The focus of manufacturers to lower the noise from various sources such as panels engine coming into the cabin of an automobile has resulted in a more peaceful ride for driver and passengers. Noise from other sources is minimized in the automobile due to ongoing advancements in technology, making the noise from tires more evident to the driver. Market players are rapidly adopting noiseless technology to provide a serene and comfortable riding experience to drivers.
Market Segmentation
The global noiseless tire market is segmented into vehicle type, tire construction type, demand category, price segment, regional distribution, and company. Based on vehicle type, the global noiseless tire market is divided into two-wheeler, passenger car, LCV, M&HCV, and OTR. Based on tire construction type, the global noiseless tire market is divided into radial and bias. Based on demand category, the global noiseless tire market is divided into OEM and Aftermarket. Based on price segment, the global noiseless tire market is divided into budget, ultra budget, and premium. To analyze the market based on region, the global noiseless tire market is studied in major regions, namely North America, Asia-pacific, Europe & CIS, South America, Middle East, and Africa.
Market Players
Michelin Group, Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Hankook Tire & Technology Co.Ltd., Pirelli & C. S.p.A., Yokohama Rubber Company, Limited, Cooper Tire & Rubber Company are among the major market players in the global platform that lead the market growth of the global noiseless tire market.
Years Considered for This Report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
Objective of the Study:
- To analyze the historical growth in the market size of global noiseless tire market from 2017 to 2021
- To estimate and forecast the market size of global noiseless tire market from 2022 to 2027 and growth rate until 2027
- To classify and forecast global noiseless tire market based on product type, application, fuel type, region, and competitive Landscape
- To identify dominant region or segment in the global noiseless tire market
- To identify drivers and challenges for global noiseless tire market
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc, in global noiseless tire market
- To identify and analyze the profile of leading players operating in the global noiseless tire market
- To identify key sustainable strategies adopted by market players in the global noiseless tire market
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Noiseless Tire Market
5. Voice of Customer
6. Global Noiseless Tire Market Outlook
7. North America Noiseless Tire Market Outlook
8. Asia Pacific Noiseless Tire Market Outlook
9. Europe & CIS Noiseless Tire Market Outlook
10. South America Noiseless Tire Market Outlook
11. Middle East and Africa Noiseless Tire Market Outlook
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends and Developments
14. Technological Development By Major Tire Manufacturers
15. Competitive Landscape
15.1. Company Profiles (Partial List of Leading Companies)
15.1.1. Michelin Group
15.1.2. Bridgestone Corporation
15.1.3. Continental AG
15.1.4. The Goodyear Tire & Rubber Company
15.1.5. Hankook Tire & Technology Co. Ltd.
15.1.6. Pirelli & C. S.p.A.
15.1.7. Yokohama Rubber Company, Limited
15.1.8. Cooper Tire & Rubber Company
16. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/jbdv0u
