Global Advanced Tires Market, By Vehicle Type (On-Highway Vehicle, Off-Highway Vehicle), Technology Type (On-Highway Technology, Off-Highway Technology, Niche Technology), Tire Type (Run-Flat, Airless, Pneumatic), Material type (Natural Rubber, Synthetic Rubber, Steel, Elastomers, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Advanced Tires Market
The advanced tires market is expected to witness market growth at a rate of 16.9% in the forecast period of 2021 to 2028 and is expected to reach USD 34.3 million by 2028. Data Bridge Market Research report on advanced tires market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the premium car production and developments in the car technologies is escalating the growth of advanced tires market.
Advanced tires comprise of technologies including multi-chamber, self-inflating, chip-embedded or they could be called all-in-one tires in common terms. These technologies offer more suitability and help to the driver with the real-time monitoring of tire pressure which upsurges the sturdiness of the tires.
Major factors that are expected to boost the growth of the advanced tires market in the forecast period are the attention on the decrease in the carbon footprints. Furthermore, the growing demand for convenience and driver assistance is further anticipated to propel the growth of the advanced tires market. Moreover, the increase in the maintenance and spare costs of conventional Otr tires is further estimated to cushion the growth of the advanced tires market. On the other hand, the growing initial investment costs is further projected to impede the growth of the advanced tires market in the timeline period.
In addition, the growing need for industrial automation and autonomous and semi-autonomous vehicles will further provide potential opportunities for the growth of the advanced tires market in the coming years. However, the real-life application of advanced tires and customer adoption might further challenge the growth of the advanced tires market in the near future.
This advanced tires market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the advanced tires market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Advanced Tires Market Scope and Market Size
The advanced tires market is segmented on the basis of vehicle type, technology type, tire type and material type. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of vehicle type, the advanced tires market is segmented into on-highway vehicle and off-highway vehicle. On-highway vehicles is further sub segmented into light duty vehicles and heavy duty vehicles.
- On the basis of technology type, the advanced tires market is segmented into on-highway technology, off-highway technology and niche technology. Further, on-highway technology is further sub segmented into self-inflating tires, chip-embedded tires, multi-chamber tires and all-in-one tires. Off-highway technology is further sub segmented into industrial equipment, agricultural tractors and construction & mining equipment. Niche technology is further sub segmented into autonomous vehicle advanced tires and 3D printed tires.
- On the basis of tire type, the advanced tires market is divided into airless, run-flat and pneumatic.
- On the basis of material type, the advanced tires market is segmented into synthetic rubber, steel, natural rubber, elastomers and others.
Advanced Tires Market Country Level Analysis
The advanced tires market is analyzed, and market size, volume information is provided by country, vehicle type, technology type, tire type and material type as referenced above.
The countries covered in the advanced tires market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Europe dominates the advanced tires market due to the occurrence of major countries which explain the share of total premium car production around the world. Furthermore, rise in the preference towards connected technologies in automotive sectors will further boost the growth of the advanced tires market in the region during the forecast period. North America is projected to observe significant amount of growth in the advanced tires market due to the rise in the safety and convenience needs in passenger cars. Moreover, the growing number of fleet management technologies is further anticipated to propel the growth of the advanced tires market in the region coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Advanced Tires Market Share Analysis
The advanced tires market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the advanced tires market.
The major players covered in the advanced tires market report are Continental AG, Bridgestone Corporation, Michelin, The Goodyear Tyre & Rubber Company, Pirelli & C. S.p.A., Sumitomo Corporation, Yokohama Tire Corporation, Hankook Tire & Technology Co.,Ltd. Nokian Tyres plc, CEAT Ltd., Toyo Tire Corporation, Shandong Tang Ren Import and Export Trading Co., Ltd., Hebei Huichao Machinery Parts Co., Ltd., Zhejiang PDW Industrial Co., Ltd., Jiangxi Deyou Technology Co., Ltd., Pengda Rubber Product Factory, Qingdao Keter Tyre Co.Limited Trading Company, Shandong Juling Group, Aliner Automotive Equipments Pvt. Ltd., Auto Tool Equipment Solution among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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