Advanced Tires Market Seeing 18.4% CAGR to hit $248.7 Million by 2030

PORTLAND, Oregon, March 4, 2020 /PRNewswire/ -- Big Market Research has recently added a new report on advanced tires market.  According to this report, the global market for advanced tires was valued at $248.7 million in 2020 and is expected to garner a revenue of $1,349.7 million by 2030, growing at a healthy growth rate of 18.4% from 2020 to 2030. This report is prepared by thoroughly studying and analyzing every aspect of the global market. The analysis provided in the report comprises of all the crucial information related to the global advanced tire industry, along with a comprehensive study of the regional landscape.

According to the report, the growing implementation of smart technology and artificial intelligence into automobiles & tires is a major factor boosting the growth of the global market for advanced tires. Moreover, the growth in the number of companies that provide next generation advance tire applications for passenger car tires and increase in the production of automobiles is expected to fuel the demand for advanced tires in the upcoming years.

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The research report includes the information regarding current trends, recent industrial developments, technological developments, and new product launches. The report also provides a detailed evaluation of the major segments of the global advanced tires market, including material type, type, technology, vehicle type, and region. Based on material type, the report bifurcates the market into synthetic rubber, natural rubber, steel, elastomers, and others. Based on type, the report segregates the market into run flat tires, pneumatic tires, airless tires, and others. On the basis of technology, the report divides the market into self-inflating tires, multi chamber tires, chip embedded tires, all in one tire, and others. Depending on the vehicle type, the report classifies the market into construction & mining equipment, heavy duty vehicle, light duty vehicles, agricultural tractors, and industrial equipment. Regionally, the report evaluates the market across Europe, Asia-Pacific, North America, and LAMEA.

The Global Advanced Tires Market Research report also provides an overview of the major players active in the global advanced tires sector. Some of the top players listed in the report that are dominating the global market are Toyo Tire Corporation, Bridgestone Corporation, Sumitomo Corporation, Michelin, Pirelli & C. S.p.A, Continental AG, Nokian Tyres plc, The Goodyear Tire & Rubber Company, THE YOKOHAMA RUBBER CO., LTD, Hankook Tire & Technology Co., Ltd., and others. The report also offers the details about the activities and strategies adopted by these players. These market players have established a strong foothold in the market and have strengthen their position in the industry.

This research study is a valuable source of data and insights offering solutions to all the queries faced by shareholders, manufacturers, partners, end-users, and investors. This report is an ideal document that can help in planning your investments and benefit from the prevalent opportunities in the market. Additionally, the report presents Porter's five forces analysis which helps in understanding the potency of the buyers and supplier in the industry.

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The research clearly states that the global advanced tires industry has attained significant growth since 2019. This report is formulated by conducting a thorough research of the industry by professionals. To obtain more details of this report you can request for sample pages from the link provided below.

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