Global Automotive Smart Tire Market Size, Share, Growth, Industry Trends, Competitive Analysis and Forecast to 2030

Report ID: RC146116 | Report Format: PDF + Excel | Starting Price: 2520/- USD | Last Updated: June 19th, 2023

The global automotive smart tire market size is anticipated to register a prominent CAGR of around 7% during the forecast period 2021 to 2027. The increasing adoption of advanced technologies in vehicles such as connected tires and pressure monitoring systems is a major factor to drive the market growth. Furthermore, the advancement in fleet management solutions and rising adoption of 5G technology in smart tires is further expected to drive the market growth.

Moreover, the increasing demand for autonomous vehicles and the implementation of 3D printing techniques is expected to boost the market. In addition, the integration of sensor systems to analyses real-time vehicle data is projected to fuel the market growth. Furthermore, the increasing investment by manufacturers to develop new technologies such as pressure and temperature monitoring is anticipated to fuel the market over the forecast period.

Market Drivers:

Increasing demand for vehicle safety and driver assistance systems: Vehicle safety is a primary concern for consumers and regulatory authorities. Smart tires equipped with advanced sensors and monitoring systems provide real-time data on tire pressure, temperature, and tread wear, allowing for improved safety and performance. The integration of smart tires with vehicle safety and driver assistance systems, such as tire pressure monitoring systems (TPMS) and tire information systems (TIS), enhances overall vehicle safety, leading to increased adoption of smart tires.

Growing emphasis on fuel efficiency and sustainability: With increasing fuel prices and environmental concerns, there is a strong focus on improving fuel efficiency and reducing carbon emissions in the automotive industry. Smart tires play a vital role in optimizing fuel efficiency by maintaining optimal tire pressure and reducing rolling resistance. By continuously monitoring tire conditions, smart tires enable drivers and vehicle management systems to make necessary adjustments, resulting in improved fuel economy and reduced environmental impact.

Advancements in tire sensor technology and connectivity: Technological advancements in tire sensor technology, wireless connectivity, and data analytics have significantly enhanced the capabilities of smart tires. Advanced sensors embedded within smart tires provide real-time data on tire performance, including tire pressure, temperature, and wear. This data can be wirelessly transmitted to the vehicle’s onboard systems or to external devices for analysis, enabling proactive maintenance, performance optimization, and predictive analytics.

Increasing adoption of connected and autonomous vehicles: The rise of connected and autonomous vehicles creates opportunities for the integration of smart tire technology. Smart tires can provide critical information to autonomous vehicle systems, such as tire condition, road surface conditions, and tire-road interaction data. This information enhances vehicle control, stability, and safety, particularly in adverse weather or road conditions. The growing adoption of connected and autonomous vehicles drives the demand for smart tires.

Regulatory requirements and standards: Regulatory requirements mandating the use of tire pressure monitoring systems (TPMS) in vehicles have been implemented in various regions, including North America, Europe, and Asia. These regulations aim to improve vehicle safety by ensuring proper tire pressure maintenance. Compliance with such regulations necessitates the use of smart tire technology, which drives the market growth for automotive smart tires.

Advancements in tire manufacturing and materials: Continuous advancements in tire manufacturing processes and materials have facilitated the integration of smart tire technology. Smart tire sensors and components can be seamlessly incorporated during the tire manufacturing process without compromising structural integrity or performance. This integration allows for mass production of smart tires and expands their availability in the market.

Enhanced vehicle performance and user experience: Smart tires offer additional benefits beyond safety and fuel efficiency. They can enhance vehicle performance by providing real-time feedback on tire conditions, optimizing traction, grip, and handling. Smart tires also enable vehicle connectivity, allowing drivers to monitor tire conditions through mobile apps or vehicle dashboards. This improved user experience and added convenience contribute to the growing demand for automotive smart tires.

Increasing aftermarket demand: The aftermarket segment plays a significant role in the adoption of automotive smart tires. Smart tire technology can be retrofitted to existing vehicles, allowing vehicle owners to upgrade their tires without purchasing a new vehicle. The availability of aftermarket smart tire solutions expands the market reach and adoption of smart tire technology among vehicle owners.

Market Outlook:

Benchmark Year 2022
Market Size lock
Market Growth (CAGR) ~ 7% (2023-2030)
Largest Market Share Asia Pacific
Analysis Period 2020-2030
Market Players Interco Tire Corporation, Continental AG, JK Tire & Industries Ltd, Yokohama Rubber Co. Ltd, and Bridgestone Corporation

Market Insights:

The global automotive smart tire market is bifurcated into technology, feature, vehicle type, sales channel, and geography. On the basis of vehicle type, the market is further segmented into passenger vehicles, light commercial vehicles, heavy-duty trucks, and buses & coach. The heavy-duty truck segment is expected to grow at a considerable growth rate over the forecast period. The rapid growth in the supply chain and growing logistics network is a prominent factor to drive the segment growth. The increasing consumer preference towards online shopping is expected to drive the e-commerce industry which is further expected to uplift the logistics industry.

Automotive Smart Tire Market Trends

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The automotive smart tire comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The automotive smart tire market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2018-19 – Historical Year
  • 2020 – Base Year
  • 2021-2027 – Forecast Period

Market Segmentation:

By Technology:

  • Pneumatic Tire
  • Non-Pneumatic Tire

By Features:

  • Connected Tire
  • Tire Pressure Monitoring System
  • Others

By Vehicle Type:

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Duty Truck
  • Bus & Coach

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Geographic Coverage:

Geographically, the Asia Pacific is expected to hold a significant share of the global automotive smart tire market. The increasing demand for luxury vehicles across the globe is a major factor to drive the market growth in the region. Furthermore, the rapid growth in the logistics industry and the growing manufacturing industry, growing logistics and manufacturing industry, increasing demand for connected vehicles, and government initiatives across the globe are further anticipated to boost the market in the Asia Pacific.

Market Competition Assessment:

Some of the major players operating in the global automotive smart tire market are Interco Tire Corporation, Continental AG, JK Tire & Industries Ltd, Yokohama Rubber Co. Ltd, and Bridgestone Corporation. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

  • Interco Tire Corporation
  • Continental AG
  • JK Tire & Industries Ltd
  • Yokohama Rubber Co. Ltd
  • Bridgestone Corporation
  • Michelin
  • Trelleborg AB
  • Nokian Tires Plc
  • Pirelli & C S.p.A.
  • Nortec

Key Questions Answered by Automotive Smart Tire Market Report

  • Global automotive smart tire market forecasts from 2021-2027
  • Regional automotive smart tire market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
  • Automotive smart tire submarket forecasts from 2021-2027 covering the market by technology, by feature, by vehicle type, by sales channel, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the automotive smart tire market
  • Analysis of the key factors driving and restraining the growth of the global, regional and country-level automotive smart tire markets from 2021-2027
  • Competitive Landscape and market positioning of top 10 players operating in the automotive smart tire market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Automotive Smart Tire Market Portraiture
2.2. Global Automotive Smart Tire Market, by Technology, 2020 (USD Mn)
2.3. Global Automotive Smart Tire Market, by Features, 2020 (USD Mn)
2.4. Global Automotive Smart Tire Market, by Vehicle Type, 2020 (USD Mn)
2.5. Global Automotive Smart Tire Market, by Sales Channel, 2020 (USD Mn)
2.6. Global Automotive Smart Tire Market, by Geography, 2020 (USD Mn)

 

3. Global Automotive Smart Tire Market Analysis


3.1. Automotive Smart Tire Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. COVID-19 Impact Analysis

 

4. Global Automotive Smart Tire Market By Technology, 2018 – 2027 (USD Mn)


4.1. Overview
4.2. Pneumatic Tire
4.3. Non-Pneumatic Tire

 

5. Global Automotive Smart Tire Market By Features, 2018 – 2027 (USD Mn)


5.1. Overview
5.2. Connected Tire
5.3. Tire Pressure Monitoring System
5.4. Others

 

6. Global Automotive Smart Tire Market By Vehicle Type, 2018 – 2027 (USD Mn)


6.1. Overview
6.2. Passenger Vehicle
6.3. Light Commercial Vehicle
6.4. Heavy Duty Truck
6.5. Bus & Coach

 

7. Global Automotive Smart Tire Market By Sales Channel, 2018 – 2027 (USD Mn)


7.1. Overview
7.2. OEM
7.3. Aftermarket

 

8. North America Automotive Smart Tire Market Analysis and Forecast, 2018 – 2027 (USD Mn)


8.1.1. Overview
8.1.2. North America Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
8.1.3. North America Automotive Smart Tire Market by Features (2018-2027 USD Mn)
8.1.4. North America Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
8.1.5. North America Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
8.1.6. North America Automotive Smart Tire Market by Country (2018-2027 USD Mn)
8.1.6.1. U.S.
8.1.6.1.1. U.S. Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
8.1.6.1.2. U.S. Automotive Smart Tire Market by Features (2018-2027 USD Mn)
8.1.6.1.3. U.S. Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
8.1.6.1.4. U.S. Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
8.1.6.2. Canada
8.1.6.2.1. Canada Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
8.1.6.2.2. Canada Automotive Smart Tire Market by Features (2018-2027 USD Mn)
8.1.6.2.3. Canada Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
8.1.6.2.4. Canada Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)

 

9. Europe Automotive Smart Tire Market Analysis and Forecast, 2018 – 2027 (USD Mn)


9.1.1. Overview
9.1.2. Europe Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
9.1.3. Europe Automotive Smart Tire Market by Features (2018-2027 USD Mn)
9.1.4. Europe Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
9.1.5. Europe Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
9.1.6. Europe Automotive Smart Tire Market by Country (2018-2027 USD Mn)
9.1.6.1. Germany
9.1.6.1.1. Germany Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
9.1.6.1.2. Germany Automotive Smart Tire Market by Features (2018-2027 USD Mn)
9.1.6.1.3. Germany Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
9.1.6.1.4. Germany Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
9.1.6.2. U.K.
9.1.6.2.1. U.K. Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
9.1.6.2.2. U.K. Automotive Smart Tire Market by Features (2018-2027 USD Mn)
9.1.6.2.3. U.K. Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
9.1.6.2.4. U.K. Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
9.1.6.3. France
9.1.6.3.1. France Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
9.1.6.3.2. France Automotive Smart Tire Market by Features (2018-2027 USD Mn)
9.1.6.3.3. France Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
9.1.6.3.4. France Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
9.1.6.4. Italy
9.1.6.4.1. Italy Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
9.1.6.4.2. Italy Automotive Smart Tire Market by Features (2018-2027 USD Mn)
9.1.6.4.3. Italy Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
9.1.6.4.4. Italy Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
9.1.6.5. Rest of Europe
9.1.6.5.1. Rest of Europe Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
9.1.6.5.2. Rest of Europe Automotive Smart Tire Market by Features (2018-2027 USD Mn)
9.1.6.5.3. Rest of Europe Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
9.1.6.5.4. Rest of Europe Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)

 

10. Asia Pacific Automotive Smart Tire Market Analysis and Forecast, 2018 – 2027 (USD Mn)


10.1.1. Overview
10.1.2. Asia Pacific Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
10.1.3. Asia Pacific Automotive Smart Tire Market by Features (2018-2027 USD Mn)
10.1.4. Asia Pacific Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
10.1.5. Asia Pacific Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
10.1.6. Asia Pacific Automotive Smart Tire Market by Country (2018-2027 USD Mn)
10.1.6.1. China
10.1.6.1.1. China Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
10.1.6.1.2. China Automotive Smart Tire Market by Features (2018-2027 USD Mn)
10.1.6.1.3. China Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
10.1.6.1.4. China Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
10.1.6.2. Japan
10.1.6.2.1. Japan Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
10.1.6.2.2. Japan Automotive Smart Tire Market by Features (2018-2027 USD Mn)
10.1.6.2.3. Japan Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
10.1.6.2.4. Japan Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
10.1.6.3. Rest of Asia Pacific
10.1.6.3.1. Rest of Asia Pacific Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
10.1.6.3.2. Rest of Asia Pacific Automotive Smart Tire Market by Features (2018-2027 USD Mn)
10.1.6.3.3. Rest of Asia Pacific Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
10.1.6.3.4. Rest of Asia Pacific Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)

 

11. Latin America (LATAM) Automotive Smart Tire Market Analysis and Forecast, 2018 – 2027 (USD Mn)


11.1.1. Overview
11.1.2. Latin America Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
11.1.3. Latin America Automotive Smart Tire Market by Features (2018-2027 USD Mn)
11.1.4. Latin America Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
11.1.5. Latin America Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
11.1.6. Latin America Automotive Smart Tire Market by Country (2018-2027 USD Mn)
11.1.6.1. Brazil
11.1.6.1.1. Brazil Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
11.1.6.1.2. Brazil Automotive Smart Tire Market by Features (2018-2027 USD Mn)
11.1.6.1.3. Brazil Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
11.1.6.1.4. Brazil Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
11.1.6.2. Mexico
11.1.6.2.1. Mexico Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
11.1.6.2.2. Mexico Automotive Smart Tire Market by Features (2018-2027 USD Mn)
11.1.6.2.3. Mexico Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
11.1.6.2.4. Mexico Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
11.1.6.3. Rest of Latin America
11.1.6.3.1. Rest of Latin America Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
11.1.6.3.2. Rest of Latin America Automotive Smart Tire Market by Features (2018-2027 USD Mn)
11.1.6.3.3. Rest of Latin America Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
11.1.6.3.4. Rest of Latin America Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)

 

12. Middle East and Africa Automotive Smart Tire Market Analysis and Forecast, 2018 – 2027 (USD Mn)


12.1.1. Overview
12.1.2. MEA Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
12.1.3. MEA Automotive Smart Tire Market by Features (2018-2027 USD Mn)
12.1.4. MEA Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
12.1.5. MEA Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
12.1.6. Middle East and Africa Automotive Smart Tire Market, by Country (2018-2027 USD Mn)
12.1.6.1. GCC
12.1.6.1.1. GCC Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
12.1.6.1.2. GCC Automotive Smart Tire Market by Features (2018-2027 USD Mn)
12.1.6.1.3. GCC Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
12.1.6.1.4. GCC Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
12.1.6.2. South Africa
12.1.6.2.1. South Africa Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
12.1.6.2.2. South Africa Automotive Smart Tire Market by Features (2018-2027 USD Mn)
12.1.6.2.3. South Africa Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
12.1.6.2.4. South Africa Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)
12.1.6.3. Rest of MEA
12.1.6.3.1. Rest of MEA Automotive Smart Tire Market by Technology (2018-2027 USD Mn)
12.1.6.3.2. Rest of MEA Automotive Smart Tire Market by Features (2018-2027 USD Mn)
12.1.6.3.3. Rest of MEA Automotive Smart Tire Market by Vehicle Type (2018-2027 USD Mn)
12.1.6.3.4. Rest of MEA Automotive Smart Tire Market by Sales Channel (2018-2027 USD Mn)

 

13. Company Profiles


13.1. Interco Tire Corporation
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. Continental AG
13.2.1. Business Description
13.2.2. Financial Health and Budget Allocation
13.2.3. Product Positions/Portfolio
13.2.4. Recent Development
13.2.5. SWOT Analysis
13.3. JK Tire & Industries Ltd
13.3.1. Business Description
13.3.2. Financial Health and Budget Allocation
13.3.3. Product Positions/Portfolio
13.3.4. Recent Development
13.3.5. SWOT Analysis
13.4. Yokohama Rubber Co. Ltd
13.4.1. Business Description
13.4.2. Financial Health and Budget Allocation
13.4.3. Product Positions/Portfolio
13.4.4. Recent Development
13.4.5. SWOT Analysis
13.5. Bridgestone Corporation
13.5.1. Business Description
13.5.2. Financial Health and Budget Allocation
13.5.3. Product Positions/Portfolio
13.5.4. Recent Development
13.5.5. SWOT Analysis
13.6. Michelin
13.6.1. Business Description
13.6.2. Financial Health and Budget Allocation
13.6.3. Product Positions/Portfolio
13.6.4. Recent Development
13.6.5. SWOT Analysis
13.7. Trelleborg AB
13.7.1. Business Description
13.7.2. Financial Health and Budget Allocation
13.7.3. Product Positions/Portfolio
13.7.4. Recent Development
13.7.5. SWOT Analysis
13.8. Nokian Tires Plc
13.8.1. Business Description
13.8.2. Financial Health and Budget Allocation
13.8.3. Product Positions/Portfolio
13.8.4. Recent Development
13.8.5. SWOT Analysis
13.9. Pirelli & C S.p.A.
13.9.1. Business Description
13.9.2. Financial Health and Budget Allocation
13.9.3. Product Positions/Portfolio
13.9.4. Recent Development
13.9.5. SWOT Analysis
13.10. Nortec
13.10.1. Business Description
13.10.2. Financial Health and Budget Allocation
13.10.3. Product Positions/Portfolio
13.10.4. Recent Development
13.10.5. SWOT Analysis
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