Smart Tyre Market

Smart Tyre Market Overview

Smart Tyre is an advance tyre technology that enhances the performance of the tyres by sensing the road condition. Smart tyre has ability to sense road condition such as snow, rain and sand and adjust tyre pressure and width automatically to provide better performance. It is equipped with Internet of Things (IoT) sensors and rubber layer that helps the vehicle management system. These sensors can also provide signals when it’s time to change tyre and provide information related to uneven and dangerous tyre conditions.

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Major Smart Tyre Market Drivers

The major factors which are driving the growth of the Global Smart Tyre market include the rising trend of autonomous driving and connected vehicle, growing demand for real time data of tyre pressure and temperature among customers, and increasing integration of advance sensors in tyre to track the status of the tyre and transmit information. Tyre manufacturers are taking various initiatives for promoting smart tyre adoption among customers. Manufacturers are also focusing on introducing various innovative features to their products, such as high performance, low wear & tear, load condition, road condition and terrain adaptability, which is anticipated to fuel the growth of the market. Additionally, decline in price of smart tyre will have a positive impact on the growing demand of the market. Several countries government have mandated for passenger and commercial vehicles to have tyre pressure monitoring systems (TPMS). However, the high cost of smart tyre may hamper the growth of the market.

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Based on the technology, the pneumatics segment is expected to grow at a higher CAGR during the forecast period owing to its low cost feature as compared to non-pneumatic technology based smart tyres. Pneumatic tyres have ability to absorb the unevenness of terrain which enable smooth ride and less shaking and bumping.

Based on the vehicle type, the passenger segment is projected to grow at a higher CAGR during the forecast period owing to the increasing adoption of smart tyre by passenger vehicle customers across the globe.

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Regional – Segment Analysis

Based on the region, Europe is anticipated to lead the global Smart Tyre market during the forecast period owing to the large presence of various leading manufacturer and relatively fast adoption of new technologies in the Europe.

Top Market Players

The major key players in the market include Continental AG, Bridgestone Corporation, Sumitomo Rubber Industries, Ltd., Michelin, Pirelli & C. S.p.A., Goodyear Tire & Rubber Company, Nexen Tire Corporation, and The Yokohama Rubber Co., Ltd.

Key Developments:

• • In Nov 2019, Pirelli launched its new Cyber Tyre that can transfer road data over an ultra-fast 5G network.
  • In Mar 2018, Continental launched digital Tyre monitoring platform “ContiConnect”, a solution to monitor, analyze and report data about Tyre temperature and pressure for commercial fleets, such as trucks, busses, industrial or earthmoving vehicles.

Segments covered in the Report:

The Global Smart Tyre market has been segmented based on the technologies, vehicle types, distribution channel and region. Based on technologies, the market is segmented into pneumatic tyres and non-pneumatic tyres. Based on vehicle type, the market is segmented into passenger vehicle and commercial vehicle. Based on distribution channel, the market is segmented into OEM and Aftermarket.

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Key questions answered in this research report:

• • At what pace is the global Smart Tyre market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Smart Tyre market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Tyre market?
  • Which technology generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What are the various vehicle type of the global Smart Tyre market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

 

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	BBy Technologies, By Vehicle Types, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Continental AG, Bridgestone Corporation, Sumitomo Rubber Industries, Ltd., Michelin, Pirelli & C. S.p.A., Goodyear Tire & Rubber Company, Nexen Tire Corporation, and The Yokohama Rubber Co., Ltd; a total of 7 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Smart Tyre Market by Technologies

• • Pneumatics Tyres
  • Non-Pneumatic Tyres
  • Global Smart Tyre Market by Vehicle Types
  • Passenger Vehicle
  • Commercial Vehicle

Global Smart Tyre Market by Distribution Channel

• • OEM
  • Aftermarket

Global Smart Tyre Market by Region

• • North America Smart Tyre Market (Option 1: As a part of the free 25% customization)

    • North America Smart Tyre Market by Technologies
    • North America Smart Tyre Market by Vehicle Type
    • North America Smart Tyre Market by Distribution Channel
    • US All-Up Smart Tyre Market
    • Canada All-Up Smart Tyre Market

  • Europe Smart Tyre Market (Option 2: As a part of the free 25% customization)

    • Europe Smart Tyre Market by Technologies
    • Europe Smart Tyre Market by Vehicle Type
    • Europe Smart Tyre Market by Distribution Channel
    • United Kingdom (UK) All-Up Smart Tyre Market
    • Germany All-Up Smart Tyre Market
    • France All-Up Smart Tyre Market
    • Spain All-Up Smart Tyre Market
    • Rest of Europe All-Up Smart Tyre Market

  • Asia-Pacific Smart Tyre Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Smart Tyre Market by Technologies
    • Asia-Pacific Smart Tyre Market by Vehicle Type
    • Asia-Pacific Smart Tyre Market by Distribution Channel
    • China All-Up Smart Tyre Market
    • India All-Up Smart Tyre Market
    • Japan All-Up Smart Tyre Market
    • Rest of APAC All-Up Smart Tyre Market

  • ROW Smart Tyre Market (Option 4: As a part of the free 25% customization)

    • RoW Smart Tyre Market by Technologies
    • RoW Smart Tyre Market by Vehicle Type
    • RoW Smart Tyre Market by Distribution Channel
    • Brazil All-Up Smart Tyre Market
    • South Africa All-Up Smart Tyre Market
    • Saudi Arabia All-Up Smart Tyre Market
    • UAE All-Up Smart Tyre Market
    • Rest of world (remaining countries of the LAMEA region) All-Up Smart Tyre Market

Global Smart Tyre Market Leading Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Continental AG
  • Bridgestone Corporation
  • Sumitomo Rubber Industries, Ltd.
  • Michelin
  • Pirelli & C. S.p.A.
  • Goodyear Tire & Rubber Company
  • Nexen Tire Corporation
  • The Yokohama Rubber Co., Ltd.