Worldwide Automotive Smart Tire Industry to 2026 - Featuring Michelin, Nokian Tyres and NXP Semiconductors Among Others

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Jul 07, 2021, 11:30 ET

DUBLIN, July 7, 2021 /PRNewswire/ -- The "Automotive Smart Tire Market - A Global Market and Regional Analysis: Focus on Smart Tire Product, Application, Supply Chain, Sensor Type, Regional and Country - Analysis and Forecast, 2020-2026" report has been added to ResearchAndMarkets.com's offering.

The global automotive smart tire market is expected to reach $110.39 billion by 2026, with a CAGR of 6.20% from 2021 to 2026. The rapid advancements in the development and commercialization of connected and autonomous vehicles have led to the evolution of technology to develop several automotive components. As the trend to develop these next-generation vehicles is being realized in the industry, the reliance on traditional tires is expected to be replaced by the adoption of smart sensor-enabled tires.

Smart tires are enabling commercial vehicle manufacturers to manage and monitor their fleets through digital monitoring solutions. The increasing volume of commercial vehicles with time has allowed fleet operators to monitor several parameters such as fuel consumption and carbon emissions, leading to an increased demand for advanced tires that provide real-time monitoring of tire conditions.

Market Segmentation

Applications: commercial and passenger vehicle
Product: tires (connected tires and intelligent tires) and sensors (TPMS, RFID, strain gauge, accelerometer, and others)
Region: North America, South America, Europe, China, U.K., Middle East and Africa, and Asia-Pacific and Japan

Regional Segmentation

North America: U.S., Canada, and Mexico
South America
Europe: France, Germany, Spain, and Rest-of-Europe
Asia-Pacific and Japan (APJ) - Japan, India, South Korea, and Rest-of-Asia-Pacific and Japan
China
U.K.
Middle East and Africa

Market Growth Drivers

Increasing Concerns Regarding Environment and Vehicle Safety
Rising Adoption of 5G Technology in Smart Tires
Advancements in Fleet Management Solutions Through Smart Tires
Usage of Smart Tires in Platooning Systems

Market Challenges

Lack of Standardization and Commercialization of Smart Tires
Reliability Issues Faced by Smart Tire Sensors
Lower Adoption Rate of Automotive Smart Tires in Passenger Vehicles

Market Opportunities

Surging Demand for Autonomous Vehicles and Highly Automated Driving
Use of Intelligent Tires in Platooning Systems
Implementation of 3D Printing Techniques for Automotive Smart Tires

Key Companies Profiled

Continental AG, Bridgestone Corporation, Michelin, The Goodyear Tire & Rubber Co., Pirelli & C. S.p.A, The Yokohama Rubber Company, Limited, Hankook Tire & Technology Co., Ltd., Nokian Tyres Plc., Toyo Tire Corporation, Sumitomo Rubber Industries, Ltd., JK Tyres & Industries Ltd., Revvo Technologies, Inc., NXP Semiconductors, Schrader TPMS Solutions, Infineon Technologies AG

How This Report Can Add Value

Business and Corporate Strategies: The automotive smart tire market is poised to grow over time, compelling companies to come up with collaborative strategies in order to sustain themselves in the intensely competitive market. Companies with identical product portfolios, with a need for additional resources, often partner and come together for joint venture programs, which helps them gain access to one another's resources and facilitates them to achieve their objectives faster. Furthermore, such ventures result in companies making use of each other's expertise. Additionally, tire manufacturers have turned toward collaborating with Internet of Things (IoT) service providers for the rapid development of their automotive smart tires. For instance, in March 2018, Continental and Vodafone partnered to deploy commercial fleets with Conti Connect systems.

Key questions answered in the Report

Why should existing tire and sensor manufacturers consider venturing into the next-generation smart tire market, and what are the future growth opportunities?
What are the key trends, market drivers, and opportunities in the market pertaining to automotive smart tires?
What are the major restraints inhibiting the growth of the global automotive smart tire market?
What kinds of new strategies are being adopted by the existing market players to expand their market position in demand generating developing and developed countries?
Which are the promising companies that have obtained financial support to develop their products and markets?
Which are the key companies in the market to source sensors for integrating them into smart tire products?
How much revenue each of the segments is expected to record during the forecast period along with the growth percentage? Following are the segments:

Product offerings, including (smart tires and sensors)
Application, including passenger and commercial vehicles
Region, including North America, South America, the U.K., Europe, Asia-Pacific and Japan, China, and the Middle East and Africa

Which type of players and stakeholders are operating in the market ecosystem of the automotive smart tire, and what is their significance in the global market?

Key Topics Covered:

1 Markets
1.1 Industry Outlook
1.2 Business Dynamics

2 Application
2.1 Application and Specification
2.1.1 Passenger Vehicle
2.1.2 Commercial Vehicle
2.2 Demand Analysis of Automotive Smart Tire (by Application)
2.2.1 Passenger Vehicle
2.2.1.1 Demand Analysis of Passenger Vehicle Smart Tire Market (by Region)
2.2.2 Commercial Vehicle
2.2.2.1 Demand Analysis of Commercial Vehicle Smart Tire Market (by Region)

3 Products
3.1 Global Automotive Smart Tire Market (by Product)
3.1.1 Connected Tire
3.1.2 Intelligent Tire (TPMS)
3.2 Demand Analysis of Automotive Smart Tire (by Product)
3.2.1 Connected Tire
3.2.2 Intelligent Tire (TPMS)
3.2.3 Demand Analysis of Automotive Smart Tire Market (by Product)
3.3 Global Automotive Smart Tire Market (by Sensor Type)
3.3.1 TPMS
3.3.2 RFID Chip
3.3.3 Accelerometer Sensor
3.3.4 Strain Gauge Sensor
3.3.5 Others
3.4 Demand Analysis of Automotive Smart Tire Market (by Sensors)
3.5 Demand Analysis of Global Automotive Smart Tire Market (by Mode of Sales)
3.5.1 Original Equipment Manufacturer (OEM)
3.5.2 Aftermarket
3.6 Qualitative Analysis of Automotive Smart Tire Market (by Engineering)
3.6.1 Pneumatic Tire
3.6.2 Run-Flat Tire
3.6.3 Non-Pneumatic Tire

4 Regions

5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Continental AG
5.2.1 Company Overview
5.2.1.1 Role of Continental AG in Global Automotive Smart Tire Market
5.2.1.2 Product Portfolio
5.2.1.3 Production Sites
5.2.2 Business Strategies
5.2.2.1 Product Developments
5.2.2.2 Market Developments
5.2.3 Corporate Strategies
5.2.3.1 Partnership and Collaboration
5.2.4 Strength and Weakness of Continental AG
5.2.5 R&D Analysis
5.3 Bridgestone Corporation
5.3.1 Company Overview
5.3.1.1 Role of Bridgestone Corporation in Global Automotive Smart Tire Market
5.3.1.2 Product Portfolio
5.3.1.3 Production Sites
5.3.2 Business Strategies
5.3.2.1 Product Developments
5.3.3 Corporate Strategies
5.3.3.1 Merger and Acquisition
5.3.4 Strength and Weakness of Bridgestone Corporation
5.3.5 R&D Analysis
5.4 Michelin
5.4.1 Company Overview
5.4.1.1 Role of Michelin Corporation in Global Automotive Smart Tire Market
5.4.1.2 Product Portfolio
5.4.1.3 Production Sites
5.4.2 Business Strategies
5.4.2.1 Product Developments
5.4.3 Corporate Strategies
5.4.3.1 Partnership and Collaboration
5.4.4 Strength and Weakness of Michelin
5.4.5 R&D Analysis
5.5 The Goodyear Tire & Rubber Co.
5.5.1 Company Overview
5.5.1.1 Role of The Goodyear Tire & Rubber Co. in Global Automotive Smart Tire Market
5.5.1.2 Product Portfolio
5.5.1.3 Production Sites
5.5.2 Business Strategies
5.5.2.1 Product Developments
5.5.2.2 Market Developments
5.5.3 Corporate Strategies
5.5.3.1 Partnership and Collaboration
5.5.4 Strength and Weakness of The Goodyear Tire & Rubber Co.
5.5.5 R&D Analysis
5.6 Pirelli & C. S.p.A
5.6.1 Company Overview
5.6.1.1 Role of Pirelli & C. S.p.A in Global Automotive Smart Tire Market
5.6.1.2 Product Portfolio
5.6.1.3 Production Sites
5.6.2 Business Strategies
5.6.2.1 Product Developments
5.6.3 Corporate Strategies
5.6.3.1 Partnership and Collaboration
5.6.4 Strength and Weakness of Pirelli & C. S.p.A
5.6.5 R&D Analysis
5.7 The Yokohama Rubber Company, Limited
5.7.1 Company Overview
5.7.1.1 Role of The Yokohoma Rubber Company, Limited in Global Automotive Smart Tire Market
5.7.1.2 Product Portfolio
5.7.1.3 Production Sites
5.7.2 Corporate Strategies
5.7.2.1 Partnership and Collaboration
5.7.3 Strength and Weakness of The Yokohoma Rubber Company, Limited
5.7.4 R&D Analysis
5.8 Hankook Tire & Technology Co., Ltd.
5.8.1 Company Overview
5.8.1.1 Role of Hankook Tire & Technology Co., Ltd. in Global Automotive Smart Tire Market
5.8.1.2 Product Portfolio
5.8.1.3 Production Sites
5.8.2 Business Strategies
5.8.2.1 Product Developments
5.8.3 Corporate Strategies
5.8.3.1 Partnerships and Collaborations
5.8.4 Strength and Weakness of Hankook Tire & Technology Co., Ltd.
5.8.5 R&D Analysis
5.9 Nokian Tyres Plc.
5.9.1 Company Overview
5.9.1.1 Role of Nokian Tyres Plc. in Global Automotive Smart Tire Market
5.9.1.2 Product Portfolio
5.9.1.3 Production Sites
5.9.2 Business Strategies
5.9.2.1 Product Developments
5.9.2.2 Market Developments
5.9.3 Strength and Weakness of Nokian Tyres Plc
5.9.4 R&D Analysis
5.1 Toyo Tire Corporation
5.10.1 Company Overview
5.10.1.1 Role of Toyo Tire Corporation in Global Automotive Smart Tire Market
5.10.1.2 Product Portfolio
5.10.1.3 Production Sites
5.10.2 Business Strategies
5.10.2.1 Product Developments
5.10.2.2 Market Developments
5.10.3 Strength and Weakness of Toyo Tire Corporation
5.10.4 R&D Analysis
5.11 Sumitomo Rubber Industries, Ltd.
5.11.1 Company Overview
5.11.1.1 Role of Sumitomo Rubber Industries, Ltd. In Global Automotive Smart Tire Market
5.11.1.2 Product Portfolio
5.11.1.3 Production Sites
5.11.2 Business Strategies
5.11.2.1 Product Developments
5.11.3 Corporate Strategies
5.11.3.1 Partnerships and Collaborations
5.11.4 Strength and Weakness of Sumitomo Rubber Industries, Ltd.
5.11.5 R&D Analysis
5.12 JK Tyres & Industries Ltd.
5.12.1 Company Overview
5.12.1.1 Role of JK Tyres & Industries Ltd. in Global Automotive Smart Tire Market
5.12.1.2 Product Portfolio
5.12.1.3 Production Sites
5.12.2 Business Strategies
5.12.2.1 Product Developments
5.12.3 Strength and Weakness of JK Tyres & Industries Ltd
5.12.4 R&D Analysis
5.13 Revvo Technologies, Inc.
5.13.1 Company Overview
5.13.1.1 Role of Revvo Technologies, Inc. in Global Automotive Smart Tire Market
5.13.1.2 Product Portfolio
5.13.2 Business Strategies
5.13.2.1 Market Developments
5.13.3 Strength and Weakness of Revvo Technologies, Inc.
5.14 NXP Semiconductors
5.14.1 Company Overview
5.14.2 Role of NXP Semiconductors in Global Automotive Smart Tire Market
5.14.3 Product Portfolio
5.14.4 Strength and Weakness of NXP Semiconductors.
5.14.5 R&D Analysis
5.15 Schrader TPMS Solutions
5.15.1 Company Overview
5.15.2 Role of Schrader TPMS Solutions in Global Automotive Smart Tire Market
5.15.3 Product Portfolio
5.15.4 Business Strategies
5.15.4.1 Business Developments
5.15.5 Strength and Weakness of Schrader TPMS Solutions
5.16 Infineon Technologies AG
5.16.1 Company Overview
5.16.2 Role of Infineon Technologies AG in Global Automotive Smart Tire Market
5.16.3 Product Portfolio
5.16.4 Strength and Weakness of Schrader TPMS Solutions
5.16.5 R&D Analysis
5.17 List of Other Key Players