Global Advanced Tires Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026

According to Data Bridge Market Research new Market report, global advanced tires market will account to an estimated USD 156.1 million in 2018 growing at a CAGR of 17.55% during the forecast period of 2018 to 2025.

Global Advanced Tires Market:

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Global Advanced Tires Market:

Advanced tires can be defined as an upgraded version of the traditional/conventional forms of tires that have been produced with the most advanced technology and materials making them highly durable, with enhanced levels of characteristics. Each characteristics and benefits of these tires are entirely dependent on which types of materials are used and what kinds of additions are included in these tires.

Segmentation: Global Advanced Tires Market:

Global advanced tires market is segmented on the basis of vehicle, technology type, tire type, material and geography.

By Vehicle (On-Highway Vehicle, Off-Highway Vehicle), Technology Type (On-Highway Vehicle, Off-Highway Vehicle, Niche Technology), Tire Type (Run-Flat, Airless, Pneumatic), Material (Natural Rubber, Synthetic Rubber, Steel, Elastomers, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)

FACTORS DRIVING GROWTH IN ADVANCED TIRES MARKET

Innovative product launches and advancements in technologies adopted by major manufacturers

  • In December 2018, JK Tyre & Indusries Ltd. announced the launch of “Mine Champion” tire for the vehicles used off-road majorly in mining industries. The materials used in the tires include nylon giving the tires increased durability and strength over a long period of time and usage.
  • In December 2018, Balkrishna Industries Limited (BKT) displayed a number of different models for tires in agricultural vehicles application at the “The Premier Agri & Food Technology Fair”, held in Chandigarh from December 1-4.

Key Market Competitors:

Few of the major competitors currently working in the advanced tires market are CEAT Ltd., TOYO TIRE U.S.A, CORP, Continental AG, Micheln, The Goodyear Tire & Rubber Company, Pirelli & C. S.p.A., Hankook Tire, Aeolus Tyre Co. Ltd., Apollo Tyres Ltd., Madras Rubber Factory Limited, JK Tyre & Indusries Ltd., Nokian Tyres plc., Bridgestone Corporation, Sumitomo Rubber Industries Ltd., The Yokohoma Rubber Co.,LTD. and Dunlop Tires.

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