CHICAGO, September 28, 2018 /PRNewswire/ —
According to the new market research 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“, published by MarketsandMarkets™, the market is expected to grow from USD 219.7 million in 2020 to USD 1,148.3 million by 2030, at a CAGR of 17.98% between 2020 and 2030.
Don’t miss out on business opportunities in Advanced Tires Market. Speak to our analyst and gain crucial industry insights that will help your business grow:
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.
The pneumatic tires segment is estimated to hold the largest share of the advanced tires market during the forecast period.
The pneumatic tires segment is projected to hold the largest market share from 2020 to 2030. Pneumatic tires are expected to be the most common type of advanced tires in passenger cars as pneumatic tires provide excellent grip and maneuverability in all terrains. Additionally, pneumatic tires are easy to mass produce through sensors and chips. Easy mass production of pneumatic tires coupled with high load carrying capacity at high velocity is estimated to drive the market for advanced pneumatic tires.
Browse in-depth TOC on “Advanced Tires Market“
102 – Tables
48 – Figures
160 – Pages
View more detailed TOC @
The self-inflating tires are projected to be the fastest-growing for off-highway vehicles from 2020 to 2030.
The off-highway vehicles include vehicles such as industrial equipment, construction & mining equipment, and agricultural tractors used for commercial purpose. Hence, the cost of downtime due to tire failure may impact the efficiency of the total operation. According to an industry person from a leading tire company, self-inflating tires will have better acceptance from consumers because of the convenience provided by self-inflating tires. The high downtime cost and increasing demand for convenience are estimated to increase the demand for self-inflating tires in the off-highway segment.
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.
Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsample.asp?id=15721834
The prominent players in the Advanced Tires Market are Continental (Germany), Bridgestone (Japan), Michelin (France), Goodyear(US), Pirelli (Italy), Sumitomo (Japan), Yokohama (Japan), Hankook Tire (South Korea),Nokian (Finland), CEAT (India), and Toyo Tire (Japan).
Browse Adjacent Markets @ Automotive Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/advanced-tire-market.asp
Visit Our Website: https://www.marketsandmarkets.com