Global Advanced Tire Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027
"Global Advanced Tire Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global advanced tire market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global advanced tire market report has been segmented on the basis of tire type, technology, material, vehicle type, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Advanced tire comprises technologies such as chip-embedded, self-inflating, multi-chamber, etc. These technologies are expected to increase the in-vehicle convenience significantly. They are also able to endure harsh climatic conditions, provides better traction, stability, and greater adhesive properties. The advanced tires are the new technological innovation in the tire market which includes eco tires, nitrogen using tires, flat run tires, which increase the durability of the tire.
Increasing preference towards external styling of the vehicles and better riding quality, which is expected to boost demand for the advanced tires and drives growth of the market. Increasing investment and increasing R&D activities by original equipment manufacturers (OEMs) is anticipated to propel the growth of the global advanced tire market. Moreover, increasing focus toward reduction in carbon footprints by using recycled tires/materials and green materials, also expected to bolster growth of the target market. Recent trend shows that, rising pollution levels coupled with increasing road congestion are encouraging many countries to heavily invest in public transport systems. This is also expected to propel the advanced tire market growth over the forecast period. However, high cost of initial investment for the production of advanced tires may restrain growth of the industry over the forecast period.
Geography wise, market in Europe accounts for a major share of the global advanced tire market. High adoption rate of connected technologies in automotive is expected to boost demand for advanced tires in Europe. Rapid expansion in industrialization and technological advancements in the automotive production sector also expected to fuel the growth of the market in the region. In addition, increasing focus on high-performance vehicles by the luxury and premium vehicle manufacturers also expected to bolster the growth of the market during the forecast period.
Growing market for connected vehicles is anticipated to fuel demand for advanced tires with organic and environment-friendly raw materials. For instance, in 2015, Bridgestone Corporation, launched the advanced CAIS (Contact Area Information Sensing) tires which includes sensor attached to the interior wall of the tire to monitor how the tire will interact with the road surface. These system checks road conditions and sends real-time information to the driver via a digital screen.
Segmentation on the basis of Material Type:
Segmentation on the basis of Tire type:
- Pneumatic Tires
- Airless Tires
Segmentation on the basis of Vehicle Type:
- On highway vehicles (Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV))
- Off highway vehicles (Agricultural Tractors, Construction & Mining Equipment, Industrial Equipment)
Segmentation on the basis of Technology:
- Chip-Embedded Tires
- Self-Inflating Tires
- Multi-Chamber Tires
- Shape-shifting tires
Segmentation on the basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Continental AG
- Bridgestone Corporation
- The Goodyear Tire & Rubber Company
- Pirelli & C. S.p.A.
- Sumitomo Rubber Industries, Ltd
- The Yokohama Rubber Company
- The Hankook Tire group
- Nokian Tyres Oyj
- CEAT ltd
- Toyo Tire & Rubber Co., Ltd.
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