Advanced Tires Market is reach USD 1,148.3 million by 2030

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Advanced Tires Market is reach USD 1,148.3 million by 2030

The report "Advanced Tires Market by On-Highway & Off-Highway Vehicle, Technology (TPMS, Chip-Embedded, Self-Inflating, All-in-One, Multi-Chamber), Autonomous Vehicle, 3D Printed, Type (Run-flat, Airless, Pneumatic), Material, and Region - Global Forecast to 2030", The advanced tires market is projected to grow at a CAGR of 17.98% during the forecast period, to reach USD 1,148.3 million by 2030 from an estimated USD 219.7 million in 2020. Increasing production of premium vehicles and technological trends in the automotive industry such as developments in autonomous vehicle and connected vehicle ecosystem are the key drivers for growth in this market. Alternatively, the high capital costs and inability to mass produce the advanced tires can hinder the growth of the market.

Browse 102 market data Tables and 48 Figures spread through 160 Pages and in-depth TOC on "AdvancedTires Market - Global Forecast to 2030"


Advanced Tires Market Years considered for Research Report:

  • 2020 - Estimated Year
  • 2030 - Projected Year
  • 2020–2030 - Forecast Period
Increasing demand for autonomous and connected technologies in automotive is expected to drive the market for advanced tires.

Advanced Tires Market Research Report Study and Objectives

  • To estimate and forecast the global market, by on-highway vehicle type, by type, by technology, by material, and by region
  • To segment the market and forecast the market size, by value and volume for off-highway vehicles on the basis of vehicle type and technology at the regional level
  • To segment the market and forecast the market size, by value and volume, for 3D printing technology and autonomous vehicle type at the regional level
Early buyers will receive 10% customization on reports.

Advanced Tires Market, Target Audience

  • On-highway Tire manufacturers
  • Off-highway tire manufacturers
  • Tire associations
  • Automotive associations
  • Tire raw material manufacturers
  • Global industrial vehicle and cargo handling associations

Advanced Tires Market Dynamics

Drivers

  • Reduction in carbon footprints
    • Recycled tires/materials
    • New raw materials
    • Green materials
  • Convenience and driver assistance
    • Puncture resistant
    • Low maintenance
    • Connected features in tires
  • High maintenance and replacement costs of conventional OTRs
    • Replacement and repair costs
    • High downtime, hence, loss of man hours

North America: The largest advanced tires market for on highway vehicle

North America comprises developed countries such as the US and Canada the leading developed economies in the world. Additionally, North America has witnessed tremendous growth in the autonomous vehicle ecosystem in the last few years because of the presence of companies such as Tesla, Google, and Uber. Moreover, the region has high GDP per capita income as compared to regions such as Asia Oceania. All these factors increase the overall acceptance of innovative technologies such as advanced tires in the coming future.
The prominent players in the advanced tires market are Continental (Germany), Bridgestone (Japan), Michelin (France), Goodyear (US), Pirelli (Italy), Sumitomo (Japan), Yokohama (Japan), Han kook Tire (South Korea), Nokian (Finland), CEAT (India), and Toyo Tire (Japan).


Advanced Tires Market

Source:
https://www.marketsandmarkets.com/Market-Reports/advanced-tire-market-15721834.html

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