Market Research Report

Global Automotive Smart Tire Market Research Report: Forecast (2022-27)

By Technology (Pneumatic, Non- Pneumatic), By Vehicle Type (Passenger Vehicles, Commercial Vehicles (Heavy Vehicles, Medium Vehicles, Light Vehicles), Electric Vehicles (Battery El......ectric Vehicles, Hybrid Electric Vehicles, Plug-In Hybrid Vehicles)), By Demand Type (OEM, Replacement), By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa), By Countries (The US, Canada, Mexico, Brazil, Germany, France, Italy, The UK, Spain, China, Japan, South Korea, India, Australia, UAE, Saudi Arabia, South Africa), By Companies (Bridgestone, Continental, Goodyear, Michelin, Pirelli, Yokohama) Read more

  • Tire
  • Apr 2022
  • Pages 178
  • Report Format: PDF, Excel, PPT

US Reciprocal Tax Impact on Markets: Stay Informed with Expert Insights and Real-Time Updates

Market Definition

Technological advancements in the automotive industry have brought sensors into tires to enable drivers to procure real-time information on the tire condition and enhance the vehicle's overall safety. Smart Tires are more like a new tire-related service model that brings greater efficiency for vehicle owners than conventional tires, and they are gaining traction across different regions worldwide.

Market Insights

The Global Automotive Smart Tire Market size is expected to grow at a considerable CAGR during the forecast period, i.e., 2022-27. With constant advancements in technologies and a growing inclination toward automation, the automotive sector is nowhere behind and is undergoing significant developments in vehicles & their components like tires. As a result, smart tires are gaining increasing popularity and penetrating the global market. 

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
Regions Covered North America: The US, Canada, Mexico
South America:Brazil, Others
Europe: China, Germany, France, Italy, U.K., Spain, Others
Asia-Pacific: China, Japan, South Korea, India, Australia, Others
Middle East & Africa: UAE, Saudi Arabia, South Africa, Others
Key Companies Profiled

Bridgestone, Continental, Goodyear, Michelin, Pirelli, Yokohama
Unit Denominations USD Million/Billion

 

These tires aid in reducing heat build-up, monitoring vehicle safety & driving hours, & tread-wear, among others, and these are the prominent reasons behind their escalating demand worldwide. In addition, governments of different countries are actively investing in developing advanced technologies for tires to avail their commercialization in connected vehicles and ensure greater safety. 

Integrating sensors into tires for gathering real-time information about the vehicle and monitoring different aspects like tire pressure, load capacity, tread wear, & deformation in order to enhance vehicle safety are other prominent aspects driving the global market.

Furthermore, the increasing utilization of technologies like Artificial Intelligence (AI) in tires is encouraging the leading tire manufacturers to invest in several research & development activities to build a new material for tires to reduce the heat build-up, which projects lucrative growth prospects for the global market through 2027.

Impact of Covid-19 on the Global Automotive Smart Tire Market

The advent of Covid-19 in 2020 had a catastrophic effect on the automotive & tire industry worldwide, which introduced several unprecedented challenges for the leading players in the Global Smart Tire Market.

Since governments of different countries imposed stringent movement restrictions, lockdowns, & suspended all kinds of business operations, tire manufacturers worldwide witnessed raw material supply chain disruptions, delivery delays, & price fluctuations, coupled with a temporary halt on R&D activities associated with smart tires. It, in turn, resulted in massive financial losses for them and a severe decline in the market growth amidst the crisis.

However, with the gradual decline in Covid-19 cases, restrictions were uplifted & business operations go recommenced, which enabled tire manufacturers to resume their business operations & research projects and facilitated the global market to attain its usual growth pace.


Global Automotive Smart Tire Market Research Report: Forecast (2022-27)

Market Segmentation

Based on Technology:

  • Pneumatic Tires
  • Non-Pneumatic Tires

Amongst both, Non-Pneumatic Tires acquired the largest share in the Global Automotive Smart Tire Market in previous years, and the same trend is likely during 2022-27. It attributes principally to their capabilities of not losing air and eliminating the possibility of flat tires, thereby offering greater cost-effectiveness than conventional tires.

These tires bring greater driving efficiency on uneven surfaces and allow heavy vehicles to carry the massive load for transportation across different locations. As a result, they are witnessing a rapidly surging demand for monitoring vehicle activity throughout the journey and thus fueling the overall market growth for smart tires.

Based on the Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles 
  • Electric Vehicles (EVs)

Here, passenger cars are expecting the largest market share over the forecast years on account of the growing disposable income of people and their mounting inclination toward private vehicle ownership. As the number of these cars is rising at a significant rate worldwide, the demand for high quality, durable, and advanced tires is also surging to enhance the overall vehicle safety & keep track of tire condition.

Besides, growing consumer awareness about the availability of an extensive range of smart tires with different designs & features is also playing a crucial role in accelerating their deployment in passenger cars and augmenting the overall market growth. Furthermore, as passenger cars are becoming more of a necessity than a luxury, their mounting sales are generating growth opportunities for the leading tire manufacturers to increase their production & distribution capacities to cater to the rising consumer requirements and drive the global market through 2027.

Regional Landscape

Geographically, the Global Automotive Smart Tire Market expands across:

  • North America
  • South America
  • Europe 
  • Middle East & Africa
  • Asia-Pacific

Amongst all regions globally, Asia-Pacific is anticipated to dominate the Automotive Smart Tire Market with the largest share during 2022-27. It attributes primarily to its rapidly expanding automotive sector and exponentially growing population & its burgeoning interest in private ownership of vehicles. It, in turn, is leading to increasing demand for sensor systems in tires to attain better performance without compromising safety.

Besides, a swift escalation in the sales of luxury vehicles, various government initiatives for encouraging the adoption of Electric Vehicles (EVs), and rising public concerns over vehicle safety are other prominent factors propelling the demand for smart tires & stimulating the regional market growth.

On the other hand, North America is expecting the fastest market growth through 2027, owing to several regional countries being the early adopters of advanced technologies across different industries, including the automotive & tire sectors. Such aspects have led to a rapid acceleration in the deployment of smart tires in several vehicles by prominent manufacturers.

In addition, the active participation of the leading market players through rigorous R&D activities to enhance the capabilities of smart tires and spread awareness about their extensive availability & numerous benefits for asset tracking & fleet management are also driving the market across North America.

Major Growth Restraint for the Global Automotive Smart Tire Market

  • Absence of Technological Standards & Insufficient Policies

As fast as technologies are advancing & showcasing the benefits of smart tires, the lack of technological standards, supportive policies, and proper commercialization might affect their deployment & restrain the growth of the Global Automotive Smart Tire Market during 2022-27.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Automotive Smart Tire Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, & regulations in the Global Automotive Smart Tire Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Automotive Smart Tire Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Automotive Smart Tire Market study?

Don't Need a Global Report? Focus on reports for specific countries and regions

Frequently Asked Questions

   A. The Automotive Smart Tires Market is expected to register a considerable CAGR during 2022-27.

   A. Growing concerns over vehicle safety are anticipated to play a prominent role in surging the demand for smart tires worldwide and generating growth opportunities for the leading players in the Automotive Smart Tire Market to increase their production, distribution, & scalability in order to meet the burgeoning consumer demand worldwide. On the other hand, the lack of standardization of tires might restrain the growth of the market globally in the years to come.

   A. Growing adoption of EVs and increasing customer preference toward deploying smart tires in latest vehicles to enhance the overall safety is the key trend in the Automotive Smart Tires Market.

   A. Passenger cars are anticipated to emerge as an area of remunerative opportunities for the leading players in the Automotive Smart Tires Market over the forecast years.

  1. Introduction
    1. Market Segmentation
    2. Product Definition
    3. Research Process
    4. Assumptions
  2. Executive Summary
  3. Customer Survey
  4. Expert Verbatim- What our Experts Say?
  5. Global Automotive Smart Tire Market Analysis, 2017-2027
    1. Market Size & Analysis
      1. Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Technology
        1. Pneumatics Tires
        2. Non- Pneumatics Tires
      2. By Vehicle Types
        1. Passenger Vehicles
        2. Commercial Vehicles
          1. Heavy Vehicles
          2. Medium Vehicles
          3. Light Vehicles
        3. Electric Vehicles
          1. Battery Electric Vehicles
          2. Hybrid Electric Vehicles
          3. Plug-In Hybrid Vehicles
      3. By Demand Type
        1. OEM
        2. Replacement
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. Asia-Pacific
        5. Middle East & Africa
      5. By Company
        1. Revenue Shares
        2. Strategic Factorial Indexing
        3. Competitor Placement in MarkNtel Quadrant
    3. Market Attractiveness Index
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Region
  6. North America Automotive Smart Tire Market Analysis, 2017-2027
    1. Market Size & Analysis
      1. Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
        1. USA
        2. Canada
        3. Mexico
    3. Market Attractiveness Index
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
    4. USA Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    5. Canada Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    6. Mexico Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
  7. South America Automotive Smart Tire Market Analysis, 2017-2027
    1. Market Size & Analysis
      1. Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
        1. Brazil
        2. Others
    3. Market Attractiveness Index
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
    4. Brazil Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
  8. Europe Automotive Smart Tire Market Analysis, 2017-2027
    1. Market Size & Analysis
      1. Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
        1. Germany
        2. France
        3. Italy
        4. U.K.
        5. Spain
        6. Others
    3. Market Attractiveness Index
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
    4. Germany Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    5. France Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    6. Italy Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    7. UK Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    8. Spain Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
  9. Asia-Pacific Automotive Smart Tire Market Analysis, 2017-2027
    1. Market Size & Analysis
      1. Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
        1. China
        2. Japan
        3. South Korea
        4. India
        5. Australia
        6. Others
    3. Market Attractiveness Index
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
    4. China Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    5. Japan Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    6. South Korea Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    7. India Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    8. Australia Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
  10. Middle East & Africa Automotive Smart Tire Market Analysis, 2017-2027
    1. Market Size & Analysis
      1. Revenues
      2. Unit Sold
    2. Market Share & Analysis
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
        1. UAE
        2. Saudi Arabia
        3. South Africa
        4. Others
    3. Market Attractiveness Index
      1. By Technology
      2. By Vehicle Types
      3. By Demand Type
      4. By Country
    4. UAE Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    5. Saudi Arabia Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
    6. South Africa Automotive Smart Tire Market Analysis, 2017-2027
      1. Market Size & Analysis
        1. Revenues
        2. Unit Sold
  11. Global Automotive Smart Tire Market – Value Chain Analysis
  12. Global Automotive Smart Tire Market Policies, Regulations, Product Standards
  13. Global Automotive Smart Tire Market Trends & Insights
  14. Global Automotive Smart Tire Market - Buyers Key Decision Making Factors
  15. Global Automotive Smart Tire Market - Strategies Adopted by Suppliers
  16. Global Automotive Smart Tire Market – Price Analysis
  17. Global Automotive Smart Tire Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  18. Global Automotive Smart Tire Market Hotspot & Opportunities
  19. Global Automotive Smart Tire Market Key Strategic Imperatives for Success & Growth
  20. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Manufacturing Unit
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles of top companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Bridgestone
      2. Continental
      3. Goodyear
      4. Michelin
      5. Pirelli
      6. Yokohama
  21. Disclaimer


Automotive Smart Tire Market Segmentation

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

Flexible Licensing Options

We offer flexible licensing options to cater to varying organizational needs. Choose the pricing pack that best suits your requirements:

Request Sample Talk to our Consultant Request Customization
Customization Offered
  • Cross-segment Market Size & Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics & Share
  • Import Export & Production Analysis
Related Reports