The global Advanced Tires Market research report 2028, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.
This Advanced Tires market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.
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.
Top Companies in the Global Advanced Tires Market:
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 others.
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Market Segmentation:
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.
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
– North America (United States, Mexico & Canada)
– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
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.
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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.
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