Commercial Vehicle Run-flat Tire Inserts Market
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Opportunity
Analysis and Industry Forecast upto 2025
Keen players in the global commercial vehicle run-flat tire inserts market are striving to offer differentiator products and to add innovative technology to their products. This makes the market highly competitive in terms of use of advanced material for the manufacture of run-flat tire inserts. The presence of a large number of small unorganized players that offer competitive pricing is also a key factor for competition in this market. The primary factor driving the global commercial vehicle run-flat tire inserts market is the increasing need to boost the safety of military and border patrol vehicles and the need to prevent them from breaking in adverse and emergency conditions. Furthermore, increasing terrorism threat has compelled OEMs to equip military and security unit vehicles with run-flat tire inserts that add to vehicular safety. As per a report by Transparency Market Research, the global commercial vehicle run-flat tire inserts market is anticipated to rise at a CAR of 2.1% from 2017 to 2025. If the figure holds true, the market which was worth US$308.1 mn in 2016 is predicted to reach a valuation of US$372.0 mn by 2025. Obtain Report Details @ http://www.transparencymarketresearch.com/commercial-vehicle-run-flat-tire-insertsmarket.html The key type segments of the global commercial vehicle run-flat tire inserts market are 17 inch, 18 inch, 19 inch, 20 inch, 22 inch, 23 inch, 24 inch, and others. The segment of 20 inch type is leading as it has wide application area and is used by majority of military and defense vehicles. The segment is expected to hold on to its lead position over the forecast period.
Application segments of the global commercial vehicle run-flat tire inserts market include transportation and logistics, military and defense, agricultural, manufacturing, construction, and others. Of them, the segment of military and defense led the commercial vehicle run-flat tire inserts market in 2016 and is expected to hold on to its dominant position over the forecast