Global Advanced Tires Market, By Vehicle Type (On-Highway Vehicle, Off-Highway Vehicle), Technology Type (On-Highway Technology, Off-Highway Technology, Niche Technology), Tire Type (Run-Flat, Airless, Pneumatic), Material (Natural Rubber, Synthetic Rubber, Steel, Elastomers, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
The advanced tires market is projected to reach USD 656.90 million in 2027 growing at the rate of 16.40% in the forecast period of 2020 to 2027. The overall demand for advanced tires market across the globe is expected to rise due to the increase in premium car production and developments in the car technologies.
Advanced tires constitute of technologies such as self-inflating, multi-chamber, chip-embedded or they could be called all-in-one tires in layman’s terms. These technologies provide more convenience and assistance to the driver with the real-time monitoring of tire pressure which increases the durability of the tires.
Also, the fuel efficiency of the vehicle improves when the tire pressure is within normal range. These tire technologies would help in cutting down the maintenance cost of the vehicles which would further boost the demand for advanced tires market all over the globe. On the other hand, the high production cost and inability of mass production are projected to obstruct the advanced tires market growth.
Furthermore, increasing demand for industrial automation, growth of e-commerce and rising demand of industrial vehicles extend profitable opportunities to the advanced tires market players. Few factors such as real life implementation of these advanced tires, functionality as compared to their form and customer acceptance are expected to challenge the advanced tires market growth.
This advanced tires market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on advanced tires market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Advanced Tires Market Scope and Market Size
The advanced tires market is segmented on the basis of vehicle type, technology type, tire type and material. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of vehicle type, the advanced tires market is segmented into on-highway vehicle and off-highway vehicle. On-highway vehicles are classified into light duty vehicles and heavy duty vehicles.
- On the basis of technology type, the advanced tires market is segmented into on-highway technology, off-highway technology and niche technology. Further, on-highway technology is divided into self-inflating tires, chip-embedded tires, multi-chamber tires and all-in-one tires. Off-highway technology includes industrial equipment, agricultural tractors and construction & mining equipment. While niche technology breaks down into autonomous vehicle advanced tires and 3D printed tires.
- Based on the tire type, the advanced tires market is divided into airless, run-flat and pneumatic.
- On the basis of material, the advanced tires market is segmented into synthetic rubber, steel, natural rubber, elastomers and others.
Global Advanced Tires Market Country Level Analysis
Global advanced tires market is analyzed and market size, volume information is provided by country, vehicle type, technology type, tire type and material as referenced above.
The countries covered in the advanced tires market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
There is a growing demand for advanced tires in regions such as Europe, North America and few countries from Asia-Pacific due to the increased production of premium vehicles and demand for connected technologies. Also, high-end SUV’s and premium cars are estimated to adopt the technology first as they play as the drivers of the advanced tires market too.
In terms of value, Europe is projected to rise with the highest compound growth during the forecast period of 2020 to 2027. The countries such as the U.K., Germany and France are considered as the key markets for advanced tires.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Advanced Tires Market Share Analysis
The advanced tires market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to advanced tires market.
The major players covered in the advanced tires market report are Continental AG, Bridgestone Corporation, Michelin, The Goodyear Tyre & Rubber Company, Pirelli & C. S.p.A., Sumitomo Corporation, Yokohama Tire Corporation, Hankook Tire & Technology Co.,Ltd. Nokian Tyres plc, CEAT Ltd., Toyo Tire Corporation, Shandong Tang Ren Import and Export Trading Co., Ltd., Hebei Huichao Machinery Parts Co., Ltd., Zhejiang PDW Industrial Co., Ltd., Jiangxi Deyou Technology Co., Ltd., Pengda Rubber Product Factory, Qingdao Keter Tyre Co.Limited Trading Company, Shandong Juling Group, Aliner Automotive Equipments Pvt. Ltd., Auto Tool Equipment Solution among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Advanced Tires Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.