Automotive Smart Tire Market
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.
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.
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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