Global Advanced Tires Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Vehicle Type;

LDV and HDV.

By Technology Type;

Chip-embedded tires, Self-inflating tires, Multi-chamber tires and All-in-one tires.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn136983927 Published Date: June, 2024 Updated Date: July, 2024

Introduction

Global Advanced Tires Market (USD Million), 2020 - 2030

In the year 2023, the Global Advanced Tires Market was valued at USD 370.18 million. The size of this market is expected to increase to USD 1,124.36 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of x.x%

The global advanced tires market is experiencing rapid growth and evolution driven by technological advancements and the increasing demand for improved performance, safety, and sustainability in the automotive industry. Advanced tires, also known as smart tires or intelligent tires, incorporate innovative materials, designs, and functionalities to enhance vehicle performance, efficiency, and safety across various terrains and driving conditions. These tires are equipped with sensors, embedded electronics, and connectivity features, enabling real-time monitoring of tire pressure, temperature, tread wear, and other critical parameters.

One of the key drivers propelling the growth of the advanced tires market is the growing emphasis on fuel efficiency and environmental sustainability. Advanced tire technologies such as low rolling resistance compounds, aerodynamic designs, and lightweight materials help reduce fuel consumption and lower carbon emissions, aligning with regulatory standards and environmental initiatives worldwide. Additionally, the integration of smart tire technologies allows for predictive maintenance and optimization of tire performance, further contributing to operational efficiency and sustainability in the transportation sector.

Moreover, advancements in tire manufacturing processes, including 3D printing, nanotechnology, and sustainable materials, are enabling the production of advanced tires with superior durability, traction, and lifespan. These tires offer enhanced safety features such as improved grip, stability, and responsiveness, reducing the risk of accidents and enhancing driver confidence and comfort. Furthermore, the adoption of autonomous and electric vehicles is driving the demand for advanced tires equipped with sensor technologies and intelligent systems capable of adapting to the unique requirements of these vehicles, including energy efficiency and autonomous driving capabilities.

The automotive industry's shift towards connected and autonomous vehicles is also fueling the demand for advanced tires embedded with sensors and communication technologies, facilitating seamless integration with vehicle control systems and enabling real-time data exchange for optimized performance and safety. Additionally, the growing consumer preference for premium and high-performance vehicles further drives the adoption of advanced tire technologies, as manufacturers seek to differentiate their offerings through superior ride quality, handling, and safety features. Overall, the global advanced tires market is poised for significant expansion, driven by ongoing technological innovation, regulatory initiatives, and evolving consumer preferences towards sustainable and intelligent mobility solutions.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Vehicle Type
    2. Market Snapshot, By Technology Type
    3. Market Snapshot, By Region
  4. Global Advanced Tires Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological Advancements
        2. Regulatory Initiatives
        3. Demand for Fuel Efficiency and Sustainability
        4. Growth in Electric and Autonomous Vehicles
        5. Safety and Performance Requirements
      2. Restraints
        1. High Initial Costs
        2. Limited Consumer Awareness
        3. Infrastructure Challenges
        4. Regulatory Compliance
        5. Supply Chain Disruptions
      3. Opportunities
        1. Emerging Markets
        2. Development of Smart Mobility Solutions
        3. Collaboration and Partnerships
        4. Customization and Differentiation
        5. R&D Investments
  5. PEST Analysis
    1. Political Analysis
    2. Economic Analysis
    3. Social Analysis
    4. Technological Analysis
  6. Porter's Analysis
    1. Bargaining Power of Suppliers
    2. Bragaining Power of Buyers
    3. Threat of Substitutes
    4. Threat of New Entrants
    5. Competitive Rivalry
  7. Market Segmentation
    1. Global Advanced Tires Market, By Vehicle Type, 2020 - 2030 (USD Million)
      1. LDV
      2. HDV
    2. Global Advanced Tires Market, By Technology Type, 2020 - 2030 (USD Million)
      1. Chip-embedded tires
      2. Self-inflating tires
      3. Multi-chamber tires
      4. All-in-one tires
    3. Global Advanced Tires Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  8. Competitive Landscape
    1. Company Profiles
      1. Continental
      2. Bridgestone
      3. Michelin
      4. Goodyear
      5. Pirelli
      6. Sumitomo
      7. Yokohama
      8. Hankook Tire
      9. Nokian
      10. Ceat
      11. Toyo Tire & Rubber Co. Ltd.
  9. Analyst Views
  10. Future Outlook of the Market