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: May 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 300 | No. of Figures: 90 | No. of Tables: 30 | |
Global Smart Tire Market is witnessing innovation as on 18 Dec 2019, Bridgestone Corporation announced the development of technology that can predict wheel axle load and tyre wear by using sensors present in the tires. Continental tires introduced advanced sensors which will not only keep track of pressure and air but also notify of potential damage, low tread, and changes in temperature indicating risky driving conditions. These tires are being innovated to improve fuel efficiency also. JK Tyres has introduced smart tires for EV vehicles which are equipped with features such as Low Noise Emission, Low Rolling Resistance, and Superior Wet Traction to ensure an environmentally-friendly driving experience.
JK has recently developed a complete range of EV Specific Smart Radial Tires for all categories of buses, Passenger cars, and LCVs. JK has developed this technology in order to meet the specific needs of EVs and ensures ultra-low rolling resistance, superior wet and dry traction, high durability, and low energy consumption.
Global smart Tyre market report thoroughly covers the market by vehicle type, technology, distribution channels, and regions including North America, Latin America, Europe, Asia Pacific, and the Rest of the World, and by key countries. The Global Smart Tire Industry Outlook report provides an unbiased and detailed analysis of the ongoing global smart Tire 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.
Smart Tire Market offers certain key features such as information on the pressure and temperature of Tire, condition of roads, wear and tear data and load statistics. Further, smart Tires are equipped with IoT-enabled sensors and a rubber layer which helps in the overall vehicle management process.
Surging investment in research and development of smart tires is driving the growth of the industry. Increasing innovation of smart tires by the manufacturers coupled with adaptability to perform less wear and tear is proliferating the development of the market. Moreover, the rising integration of smart features along with advancements in technology is adding to the Smart Tire Market Share. The growing usage of AI in smart tires is also accelerating the development of the market. Surging disposable income coupled with improvement in the standard of living is driving the demand for luxury cars which is further leading to the growth in the market.
According to 6Wresearch, the Global smart tire market size is projected to witness considerable growth during 2019-2025. The Tire manufacturers are taking initiatives to promote the adoption of smart Tire over existing traditional Tire. With the decline in prices of smart Tires, the demand is anticipated to increase. Further, as the market for connected vehicles is rising considerably the penetration of smart Tires is projected to increase over the coming years. Additionally, the government of several countries has introduced mandates for passenger and commercial vehicles to have Tire pressure monitoring systems (TPMS).
Global Smart Tire Market is antiquated to find its true potential underpinned by an increase in the manufacturing of connected cars concurrently increasing the development of smart tires with the rising artificial intelligence in the developed and developing regions which are further estimated to boost the growth of the smart tire market. Moreover, the rising number of the upper-middle-class population globally who afford to purchase connected vehicles which are equipped with sensor-based technologies and provide salient features like offering greater grip facility during rain and great stopping power to ensure fewer road accidents is expected to act as a growth driving factor for the smart tire market globally in the forthcoming years.
The passenger vehicle segment dominates the overall Global Smart Tire Market share, based on vehicle types.
In terms of regions, Europe and North America would remain the key revenue-generating regions. Europe is the key region generating demand for the smart Tire market owing to the fast adoption of new technologies in the region, followed by the North America region.
Based on technology, Pneumatics Tire acquired the leading share in the market revenues pie owing to the low pricing as compared to the non-pneumatic Tire.
Some of the key players in the Global Smart Tire Market are:
The Global smart Tire market report provides a detailed analysis of the following market segments:
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, 2015-2025F |
3.2 Global Smart Tire Market Revenue Share, By Technology, 2018 & 2025F |
3.3 Global Smart Tire Market Revenue Share, By Vehicle Types, 2018 & 2025F |
3.4 Global Smart Tire Market Revenue Share, By Distribution Channel, 2018 & 2025F |
3.5 Global Smart Tire Market Revenue Share, By Regions, 2018 & 2025F |
3.6 Global Smart Tire Market Industry Life Cycle |
3.7 Global Smart Tire Market- Porter’s Five Forces, 2018 |
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, 2015-2025F |
6.2 North America Smart Tire Market Revenues & Volume, By Technology, 2015-2025F |
6.3 North America Smart Tire Market Revenues & Volume, By Vehicle Types, 2015-2025F |
6.4 North America Smart Tire Market Revenues & Volume, By Distribution Channel, 2015-2025F |
6.5 North America Smart Tire Market Revenues & Volume, By Countries, 2015-2025F |
7. Latin America Smart Tire Market Overview |
7.1 Latin America Smart Tire Market Revenues & Volume, 2015-2025F |
7.2 Latin America Smart Tire Market Revenues & Volume, By Technology, 2015-2025F |
7.3 Latin America Smart Tire Market Revenues & Volume, By Vehicle Types, 2015-2025F |
7.4 Latin America Smart Tire Market Revenues & Volume, By Distribution Channel, 2015-2025F |
7.5 Latin America Smart Tire Market Revenues & Volume, By Countries, 2015-2025F |
8. Europe Smart Tire Market Overview |
8.1 Europe Smart Tire Market Revenues & Volume, 2015-2025F |
8.2 Europe Smart Tire Market Revenues & Volume, By Technology, 2015-2025F |
8.3 Europe Smart Tire Market Revenues & Volume, By Vehicle Types, 2015-2025F |
8.4 Europe Smart Tire Market Revenues & Volume, By Distribution Channel, 2015-2025F |
8.5 Europe Smart Tire Market Revenues & Volume, By Countries, 2015-2025F |
9. Asia Pacific Smart Tire Market Overview |
9.1 Asia Pacific Smart Tire Market Revenues & Volume, 2015-2025F |
9.2 Asia Pacific Smart Tire Market Revenues & Volume, By Technology, 2015-2025F |
9.3 Asia Pacific Smart Tire Market Revenues & Volume, By Vehicle Types, 2015-2025F |
9.4 Asia Pacific Smart Tire Market Revenues & Volume, By Distribution Channel, 2015-2025F |
9.5 Asia Pacific Smart Tire Market Revenues & Volume, By Countries, 2015-2025F |
10. ROW Smart Tire Market Overview |
10.1 ROW Smart Tire Market Revenues & Volume, 2015-2025F |
11. Global Smart Tire Market Opportunity Assessment, |
11.1 Global Smart Tire Market Opportunity Assessment, By Technology, 2025F |
11.2 Global Smart Tire Market Opportunity Assessment, By Vehicle Types, 2025F |
11.3 Global Smart Tire Market Opportunity Assessment, By Distribution Channel, 2025F |
11.4 Global Smart Tire Market Opportunity Assessment, By Regions, 2025F |
12. Global Smart Tire Market Competitive Landscape |
12.1 Global Smart Tire Market Revenue Share, By Companies, 2018 |
12.1.1 North America Smart Tire Market Revenue Share, By Companies, 2018 |
12.1.2 Latin America Smart Tire Market Revenue Share, By Companies, 2018 |
12.1.3 Europe Smart Tire Market Revenue Share, By Companies, 2018 |
12.1.4 Asia-Pacific Smart Tire Market Revenue Share, By Companies, 2018 |
12.1.5 Middle East & Africa Smart Tire Market Revenue Share, By Companies, 2018 |
12.2 Global Smart Tire Market Competitive Benchmarking, By Operating Parameters |
13. Company Profiles |
14. Strategic Recommendations |
15. Disclaimer |