Automotive Smart Tire Market
Smart tire is a new
technology for tires that enhances the performance of the tires by sensing the
road condition and varying different factors such as tire pressure and terrain
adaptability to perform at its best with least wear and tear. All major tire manufacturers
are emphasizing on the development of smart tires; however, the features of a
tire varies according to the manufacturer. Most manufacturers have already
unveiled their concept for smart tire
in different motor shows.
The smart tire market
is anticipated to expand at a considerable pace during the forecast period;
however, the market is anticipated to expand at a significant pace in the near
future. Manufacturers are taking steps to unveil their product with loads of
features, which is likely to replace the standard tire. High performance,
terrain adaptability, and low wear and tear of the smart tire is anticipated to
boost the demand for smart tires. Its high cost is expected to hamper the smart
tire market.
Major
Key Players of the Automotive Smart Tire Market are:
Bridgestone Corporation, Continental AG, SUMITOMO
RUBBER INDUSTRIES, LTD., MICHELIN, and Pirelli & C. S.p.A. SUMITOMO RUBBER
INDUSTRIES, LTD.
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The global automotive
smart tire market can be segmented based on technology, vehicle, sales channel,
and region. In terms of technology, the market can be classified into pneumatic
and non-pneumatic tires. Among them, pneumatic tires are expected to gain
higher popularity owing to their cost effectiveness as compared to
non-pneumatic tires. Non-pneumatic smart tires are expected to arrive in market
after non-pneumatic tires, consequently the pneumatic tire segment is
anticipated to be leading segment.
Based on vehicle, the
passenger vehicle segment is anticipated to be the first segment that is
expected to be equipped with smart tires and the adoption of smart tires for
passenger vehicles is expected to be faster than commercial vehicles.
Smart tires for commercial vehicles is expected to arrive after passenger
vehicles. Therefore, the passenger vehicle segment is anticipated to account
for a higher share of the automotive smart tires market.
The study is a
source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional
analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru,
Chile, and others)
- Western Europe (Germany, U.K., France,
Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN,
Australia, and New Zealand)
- Middle East and Africa (GCC, Southern
Africa, and North Africa)
The report has been
compiled through extensive primary research (through interviews, surveys, and
observations of seasoned analysts) and secondary research (which entails
reputable paid sources, trade journals, and industry body databases). The
report also features a complete qualitative and quantitative assessment by
analyzing data gathered from industry analysts and market participants across
key points in the industry’s value chain.
A separate analysis of
prevailing trends in the parent market, macro- and micro-economic indicators,
and regulations and mandates is included under the purview of the study. By
doing so, the report projects the attractiveness of each major segment over the
forecast period.
Highlights of the
report:
- A complete backdrop analysis, which
includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or
third level
- Historical, current, and projected size of
the market from the standpoint of both value and volume
- Reporting and evaluation of recent
industry developments
- Market shares and strategies of key
players
- Emerging niche segments and regional
markets
- An objective assessment of the trajectory
of the market
- Recommendations to companies for
strengthening their foothold in the market
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In the end, Automotive Smart Tire industry
report specifics the major regions, market scenarios with the product price,
volume, supply, revenue, production, and market growth rate, demand, forecast
and so on. This report also presents SWOT analysis, investment feasibility
analysis, and investment return analysis.
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