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Advance Tires Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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Advanced Tires Market is projected to value over US$ 1 Billion by 2026 end and grow at a CAGR of over 17% during the forecast period of 2019 to 2026. The rise in connected car technologies and premium cars production has stimulated the size of the
Advance Tires Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Advanced Tires Market is projected to value over US$ 1 Billion by 2026 end and grow
at a CAGR of over 17% during the forecast period of 2019 to 2026.
The rise in connected car technologies and premium cars production has stimulated
the size of the advance tire market. Tire manufacturer focusing on raw materials to
reduce environmental pollution is also boosting the growth of the market.
High maintenance and replacement costs of conventional tires have spur the size of
the market. Increasing demand for industrial automation is also stimulating the size
of the market. The rise in off-high vehicles like tractors has also led to further growth
of the advance tire market. With government policies focused on reducing
environmental harm, it's projected to have a positive influence on the advance tire
market.
Advance tires market is segmented on the basis of on-highway vehicle type &
technology, off-highway vehicle type & technology, advanced technology, material
type, tire type, and region. On-highway and Off-highway are segmented into vehicle
type and technology type. On-highway vehicle type is further divided into HDV and
LDV. Off-highway vehicle types consisting of technology segment is divided into
industrial equipment, agricultural tractors, construction & mining equipment. By
technology, both on-highway and off-highway are bifurcated by all-in-one tires, selfinflating tires, chip-embedded tires, multi-chamber tires.
Off-vehicle are vastly used for industrial purpose. Incidents of tire failure may impact
the efficiency or output of the industry. In order to avoid it, self-inflating tires are
widely preferred. They are economical and provide better convenience. Self-inflating
tires offer better on-time monitoring of tire pressure.
Based on advanced technology type, the market is divided into autonomous vehicle
advanced tires, and 3D printed tires. Furthermore, advanced tires market is branched
out by material, elastomers, steel, synthetic rubber, natural rubber, and other
materials. By type of tire, the market is segmented into run-flat tires, pneumatic
tires, and airless tires.
Pneumatic tires are projected to dominate the market in the forecast period.
Pneumatic tires are the most common advance tire type and vastly used in onhighway vehicles. Pneumatic tires provide excellent grip and offer compatibility in all
terrains. They are produced through chips and sensors. Easy mass production of
these tires alongside high load carrying capacity is the factors expected to drive the
growth of the market.
However, high capital investment regarding the production of advance tires has
hindered the growth of the market. Complication regarding mass production is also
limiting the growth of the market.
In terms of region, Europe currently holds a vast share of the market. Rising demand
for autonomous vehicles and expansion of automotive industries are the factor
behind the growth of the market in the region. North America comes next to Europe.
It's expected to dominate the market in the forecast period. High GDP per capita
income coupled up with growing demand for autonomous vehicles remains the key
factor behind the growth of the market in the region.
Some of the prominent companies are Pirelli, Michelin, Bridgestone, Toyo Tire,
Continental and CEAT.
Advance Tire Market Restraints:
• Expensive capital costs
• The inability of mass production
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Advance Tire Market Segmentation
By On-Highway Vehicle Type:
• HDV
• LDV
By Off-Highway Vehicle Type:
• Industrial Equipment
• Agricultural Tractors
• Construction & Mining Equipment
By On-Highway & Off-Highway Technology Type:
• All-In-One Tires
• Self-Inflating Tires
• Chip-Embedded Tires
• Multi-Chamber Tires
By Advanced Technology Type:
• Autonomous Vehicle Advanced Tires
• 3D Printed Tires
By Material:
• Elastomers
• Steel
• Synthetic Rubber
• Natural Rubber
• Other Materials
By Region:
•
•
•
•
•
Europe
North America
APAC
Latin America
Rest of the World
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on global advanced tires market by onhighway vehicle type & technology, off-highway vehicle type & technology, advanced
technology, material type, tire type, and region
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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