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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