Global Smart Tire Market (2023-2029) | Size, Automotive, Tyre, Growth, Share, Forecast, Revenue, Trends, Analysis, industry & Outlook

Market Forecast By Technologies (Pneumatics Tires and Non- Pneumatics Tires), By Vehicle Types (Passenger Vehicles and Commercial Vehicles), By Distribution Channels (OEM and Aftermarket), By Regions (North America, Latin America, Europe, Asia Pacific, and Rest of World), Key Countries and Competitive Landscape

Product Code: ETC000633 Publication Date: Aug 2022 Updated Date: Nov 2023 Product Type: Report
Publisher: 6Wresearch No. of Pages: 300 No. of Figures: 90 No. of Tables: 30

Topics Covered in the Global Smart Tire Market

Global Smart Tire Market report thoroughly covers the market by technologies, vehicle types, distribution channels, and regions. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Global Smart Tire Market Synopsis

The Global Smart Tire Market has been growing due to the automotive industry revolutionizing with the advent of smart technology in tires. Among the many advancements we see today, the concept of smart tires facilitating massive safety by communicating with drivers and vehicles is gaining momentum. A smart tire links innovation and information to facilitate drivers with valuable insights about tire conditions into their journey, such as real-time data on tire pressure, and temperature. 

According to 6Wresearch, the Global Smart Tire market is projected to grow at a CAGR of 22.7% during the forecast period 2023-2029. Smart tires consist of several advantages over conventional tires, including real-time monitoring of tire pressure and temperature, which improves fuel efficiency, reduces tire wear, increases vehicle safety, and decreases accidents. Other drivers contributing to the Global smart tire market growth are the increasing demand for connected cars, advances in tire technology, and the increase in automotive production globally.

Despite the growth potential, some challenges hampering the growth of the smart tire market globally. For instance, one of the prominent challenges is the high initial cost of smart tires. Additionally, another challenge is the shortage of trained professionals and technical expertise required for installation and maintenance. However, some emerging trends contribute to the market growth. For instance, the rising integration of smart tire technology equipped with advanced driver-assist features, including automatic emergency braking, and lane departure warning. Sensor-based tire adoption rate is increasing which allows them to determine damages by sending alerts to the driver.

Government Initiatives Introduced in the Global Smart Tire Market

The government has been taking initiatives to promote the adoption of smart tire technology. For example, in the US, the National Highway Traffic Safety Administration (NHTSA) is making compulsory the installation of tire pressure monitoring systems in cars. The European Union (EU) is also framing regulations for tire pressure monitoring systems to ensure massive safety and make cars fuel efficient. The European Union has set a new standard to improve tire labelling, which requires tire manufacturers to provide detailed information on various aspects like the tire's fuel efficiency, wet grip, and noise levels.

These new standards will encourage consumers to adopt more eco-friendly tires, thereby promoting the use of smart tires. The Japanese Government is also promoting the use of eco-friendly smart tires to maintain environmental health. Furthermore, research and development funds are being facilitated by governments to promote & support the development of innovative smart tire technology, such as TPMS (Tire Pressure Monitoring System). 

Key Players in the Global Smart Tire Market

Several players operating in the market provide smart tire technology solutions. Some of the key players in the global smart tire market include:

  • Bridgestone
  • Continental AG
  • Goodyear Tire & Rubber Company
  • Michelin, Pirelli
  • Sumitomo Rubber Industries Ltd.
  • Yokohama Rubber Co., Ltd.

These are some leading companies operating globally, dominating the Global Smart Tire Market share by offering advanced features and integrated tires to their customers. 

Market Analysis by Vehicle Type

According to Dhaval, Research Manager, 6Wresearch, while the passenger vehicle segment has a comparatively higher adoption rate, however, the commercial vehicle appears to be catching up fast segment due to its cost-saving and fuel-efficient benefits.

Market Analysis by Distribution Channel

Based on the distribution channel, the Aftermarket is the fastest-growing distribution channel in the Global Smart Tire Market due to its various features such as easy availability of products, cost-effectiveness, convenience, and user-friendliness of installation.

Market Analysis by Regions

Based on the region, North America dominates the Global Smart Tire Market share, while the Asia Pacific region is expected to witness prominent growth over the coming years underpinned by its large automotive market and rising need for modern transportation systems.

Key attractiveness of the report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2019 to 2022.
  • Base Year: 2022.
  • Forecast Data until 2029.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • Global Smart Tire Market Overview
  • Global Smart Tire Industry Outlook
  • Global Smart Tire Market Forecast
  • Historical Data of Global Smart Tire Market Revenues for the Period 2019-2029
  • Global Smart Tire Market Size and Global Smart Tire Market Forecast of Revenues, Until 2029
  • Historical Data of Global Smart Tire Market Revenues, by Vehicle Type, for the Period 2019-2029
  • Market Size & Forecast of Global Smart Tire Market Revenues, by Vehicle Type, until 2029
  • Historical Data of Global Smart Tire Market Revenues, by Technology Type, for the Period 2019-2029
  • Market Size & Forecast of Global Smart Tire Market Revenues, by Technology Type, until 2029
  • Historical Data of Global Smart Tire Market Revenues, by Distribution Channels, for the Period 2019-2029.
  • Market Size & Forecast of Global Smart Tire Market Revenues, by Distribution Channels, until 2029
  • Historical Data of North America Smart Tire Market Revenues, for the Period 2019-2029.
  • Market Size & Forecast of North America Smart Tire Market Revenues, until 2029
  • Historical Data of Europe Smart Tire Market Revenues, for the Period 2019-2029.
  • Market Size & Forecast of Europe Smart Tire Market Revenues, until 2029
  • Historical Data of Asia Pacific Smart Tire Market Revenues, for the Period 2019-2029.
  • Market Size & Forecast of Asia Pacific Smart Tire Market Revenues, until 2029
  • Historical Data of Rest of the World Smart Tire Market Revenues, for the Period 2019-2029.
  • Market Size & Forecast of Rest of the World Smart Tire Market Revenues, until 2029
  • Market Drivers and Restraints
  • Global Smart Tire Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis 
  • Market Opportunity Assessment
  • Global Smart Tire Market Share, By Players
  • Global Smart Tire Market Overview on Competitive Benchmarking
  • Company Profiles 
  •  
  • Key Strategic Recommendations

Markets Covered

The Global Smart Tire market report provides a detailed analysis of the following market segments:

By Technologies

  • Pneumatics Tires
  • Non- Pneumatics Tires

By Vehicle Types:

  • Passenger Vehicles
  • Commercial Vehicles

By Distribution Channels:

  • OEM
  • Aftermarket

By Regions:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Rest of World
Global Smart Tire Market (2023-2029): FAQs
Bridgestone, Continental AG, Goodyear Tire & Rubber Company, and Michelin, Pirelli are some major players operating in the Global Smart Tire Market
The rising integration of smart tire technology and rising safety awareness among the population.
shortage of trained professionals and the high cost of smart tires are some major challenges faced by the Global Smart Tire Market
The passenger vehicle segment has a comparatively higher adoption rate due to the higher passenger rate.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
1. Executive Summary
2. Introduction
2.1 Report Description
2.2 Key Highlights of The Report
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3. Global Smart Tire Market Overview
3.1 Global Smart Tire Market Revenues & Volume, 2019-2029F
3.2 Global Smart Tire Market Revenue Share, By Technology, 2022-2029
3.3 Global Smart Tire Market Revenue Share, By Vehicle Types, 2022-2029
3.4 Global Smart Tire Market Revenue Share, By Distribution Channel, 2022-2029
3.5 Global Smart Tire Market Revenue Share, By Regions, 2022-2029
3.6 Global Smart Tire Market Industry Life Cycle
3.7 Global Smart Tire Market- Porter’s Five Forces, 2022
4. Global Smart Tire Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5. Global Smart Tire Market Trends
6. North America Smart Tire Market Overview
6.1 North America Smart Tire Market Revenues & Volume, 2022-2029F 
6.2 North America Smart Tire Market Revenues & Volume, By Technology, 2022-2029F
6.3 North America Smart Tire Market Revenues & Volume, By Vehicle Types, 2022-2029F
6.4 North America Smart Tire Market Revenues & Volume, By Distribution Channel, 2022-2029F
6.5 North America Smart Tire Market Revenues & Volume, By Countries, 2022-2029F
7. Latin America Smart Tire Market Overview
7.1 Latin America Smart Tire Market Revenues & Volume, 2022-2029F 
7.2 Latin America Smart Tire Market Revenues & Volume, By Technology, 2022-2029F
7.3 Latin America Smart Tire Market Revenues & Volume, By Vehicle Types, 2022-2029F
7.4 Latin America Smart Tire Market Revenues & Volume, By Distribution Channel, 2022-2029F
7.5 Latin America Smart Tire Market Revenues & Volume, By Countries, 2022-2029F
8. Europe Smart Tire Market Overview
8.1 Europe Smart Tire Market Revenues & Volume, 2022-2029F
8.2 Europe Smart Tire Market Revenues & Volume, By Technology, 2022-2029F
8.3 Europe Smart Tire Market Revenues & Volume, By Vehicle Types, 2022-2029F
8.4 Europe Smart Tire Market Revenues & Volume, By Distribution Channel, 2022-2029F
8.5 Europe Smart Tire Market Revenues & Volume, By Countries, 2022-2029F
9. Asia Pacific Smart Tire Market Overview
9.1 Asia Pacific Smart Tire Market Revenues & Volume, 2022-2029F 
9.2 Asia Pacific Smart Tire Market Revenues & Volume, By Technology, 2022-2029F
9.3 Asia Pacific Smart Tire Market Revenues & Volume, By Vehicle Types, 2022-2029F
9.4 Asia Pacific Smart Tire Market Revenues & Volume, By Distribution Channel, 2022-2029F
9.5 Asia Pacific Smart Tire Market Revenues & Volume, By Countries, 2022-2029F
10. ROW Smart Tire Market Overview
10.1 ROW Smart Tire Market Revenues & Volume, 2022-2029F 
11. Global Smart Tire Market Opportunity Assessment,
11.1 Global Smart Tire Market Opportunity Assessment, By Technology, 2029F
11.2 Global Smart Tire Market Opportunity Assessment, By Vehicle Types, 2029F
11.3 Global Smart Tire Market Opportunity Assessment, By Distribution Channel, 2029F
11.4 Global Smart Tire Market Opportunity Assessment, By Regions, 2029F
12. Global Smart Tire Market Competitive Landscape 
12.1 Global Smart Tire Market Revenue Share, By Companies, 2022
12.1.1 North America Smart Tire Market Revenue Share, By Companies, 2022
12.1.2 Latin America Smart Tire Market Revenue Share, By Companies, 2022
12.1.3 Europe Smart Tire Market Revenue Share, By Companies, 2022
12.1.4 Asia-Pacific Smart Tire Market Revenue Share, By Companies, 2022
12.1.5 Middle East & Africa Smart Tire Market Revenue Share, By Companies, 2022
12.2 Global Smart Tire Market Competitive Benchmarking, By Operating Parameters
13. Company Profiles
14. Strategic Recommendations
15. Disclaimer

Middle East & Africa Smart Tire Market (2019-2025): Market Forecast By Tire Types (Pneumatics Tires and Non- Pneumatics Tires), By Vehicle Types (Passenger Vehicles and Commercial Vehicles), By Distribution Channels (OEM and Aftermarket), By Countries (UAE, Saudi Arabia, Turkey, Qatar, South Africa and Rest of the Region) and Competitive Landscape

Europe Smart Tire Market (2019-2025): Market Forecast By Tire Types (Pneumatics Tires and Non- Pneumatics Tires), By Vehicle Types (Passenger Vehicles and Commercial Vehicles), By Distribution Channels (OEM and Aftermarket), By Countries (Germany, Italy, France, United Kingdom and Rest of Europe) and Competitive Landscape

Asia Pacific Smart Tire Market (2019-2025): Market Forecast By Tire Types (Pneumatics Tires and Non- Pneumatics Tires), By Vehicle Types (Passenger Vehicles and Commercial Vehicles), By Distribution Channels (OEM and Aftermarket), By Countries (India, China, Japan, Australia, Indonesia, Malaysia, Thailand and Rest of APAC) and Competitive Landscape

North America Smart Tire Market (2019-2025): Market Forecast By Tire Types (Pneumatics Tires and Non- Pneumatics Tires), By Vehicle Types (Passenger Vehicles and Commercial Vehicles), By Distribution Channels (OEM and Aftermarket), By Countries (the United States, Canada and Rest of North America (Panama, Cuba, Costa Rica, Dominic Republic, and others) and Competitive Landscape

Southeast Asia Tire Market (2018-2024): Market Forecast By Tire Types (Radial and Bias), By End Markets (OEM and Replacement), By Vehicle Types (Passenger Vehicles, Commercial Vehicles, and Two and Three Wheeler Vehicles), By Countries (Indonesia, Malaysia, Singapore, Thailand, Philippines, Vietnam, Myanmar, Cambodia and Rest of the Southeast Asia Region) and Competitive Landscape

Philippines Tire Market (2019-2025): Market Forecast By Origin (Local Manufacturing and Imports), By Vehicle Types (Trucks (Radial and Bias), Light Trucks (Radial and Bias), Passenger Cars and Two-Wheelers )) and Competitive Landscape

Indonesia Tire Market (2019-2025): Market Forecast By Origin (Local Manufacturing and Imports), By Types (Radial and Bias), By Vehicle Types (Trucks (Radial and Bias), Light Trucks (Radial and Bias), Passenger Cars and Two-Wheelers)) and Competitive Landscape

India Two-Wheeler Tire Market (2019-2025): Market Forecast By Vehicle Types (Scooter Tire, Underbone/Moped Tire, Motorcycle (Upto 250cc) and Motorcycle (Above 250cc), By Tire Types (Radial Tire (Motorcycle Radial and Scooter Radial), Bias Tire (Motorcycle Bias and Scooter Bias)), By End User Market (OEM and Replacement), By Rim Size (Motorcycle Rim (16 Inch, 17 Inch, 18 Inch, and 19 Inch), Scooter Rim (10 Inch and 12 Inch)), By Regions (Eastern, Western, Northern and Southern) and Competitive Landscape

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