Market Overview:

The global automotive intelligent tires market is projected to witness significant growth over the forecast period. Intelligent tires are designed with sensors that monitor tire pressure, temperature, and other parameters to provide real-time data on the condition of the tire. This data can be used to optimize tire performance and reduce the risk of accidents.

The increasing demand for advanced safety features in vehicles, coupled with the growing trend of connected cars, is expected to drive the market growth. Additionally, the rising adoption of electric vehicles and the implementation of strict government regulations regarding vehicle safety are further fueling the demand for intelligent tires.

Meaning:

Intelligent tires, also known as smart tires, are a type of tire that incorporates advanced sensors and communication technologies. These tires are capable of collecting and transmitting data in real-time, which can be used to monitor the tire’s condition and optimize its performance. Intelligent tires can detect changes in temperature, pressure, and other key parameters, enabling them to alert drivers to potential hazards and prevent accidents.

Executive Summary:

The global automotive intelligent tires market is expected to grow at a significant rate over the forecast period. The increasing demand for advanced safety features in vehicles, coupled with the growing trend of connected cars, is driving the market growth. Additionally, the rising adoption of electric vehicles and the implementation of strict government regulations regarding vehicle safety are further fueling the demand for intelligent tires.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights:

• The global automotive intelligent tires market is projected to witness significant growth over the forecast period.
• The increasing demand for advanced safety features in vehicles, coupled with the growing trend of connected cars, is driving the market growth.
• The rising adoption of electric vehicles and the implementation of strict government regulations regarding vehicle safety are further fueling the demand for intelligent tires.
• Intelligent tires are designed with sensors that monitor tire pressure, temperature, and other parameters to provide real-time data on the condition of the tire.
• Intelligent tires can detect changes in temperature, pressure, and other key parameters, enabling them to alert drivers to potential hazards and prevent accidents.

Market Drivers:

1. Growing Demand for Advanced Safety Features in Vehicles: The increasing demand for advanced safety features in vehicles is driving the demand for intelligent tires. These tires are designed to monitor tire pressure, temperature, and other key parameters in real-time, enabling them to alert drivers to potential hazards and prevent accidents.
2. Increasing Adoption of Connected Cars: The growing trend of connected cars is also driving the demand for intelligent tires. These tires can communicate with other components of the vehicle, such as the engine and brakes, to optimize performance and improve safety.
3. Implementation of Strict Government Regulations Regarding Vehicle Safety: Governments around the world are implementing strict regulations regarding vehicle safety, which is fueling the demand for intelligent tires. These tires can help reduce the risk of accidents by providing real-time data on the condition of the tire.

Market Restraints:

1. High Cost of Intelligent Tires: The high cost of intelligent tires is a major restraint to market growth. These tires are more expensive than traditional tires, which may limit their adoption in certain markets.
2. Limited Availability of Intelligent Tires: The limited availability of intelligent tires is also a restraint to market growth. These tires are not yet widely available, and their adoption may be limited by the availability of sensors and other components.

Market Opportunities:

1. Rising Adoption of Electric Vehicles: The rising adoption of electric vehicles presents a significant opportunity for the intelligent tires market. These tires can help optimize the performance of electric vehicles by providing real-time data on tire condition and improving overall efficiency.
2. Increasing Focus on Vehicle Safety: The increasing focus on vehicle safety presents an opportunity for the intelligent tires market. Governments and consumers are increasingly concerned about vehicle safety, which is driving the demand for advanced safety features such as intelligent tires.

Market Dynamics:

The global automotive intelligent tires market is driven by various factors, including the increasing demand for advanced safety features in vehicles, the rising adoption of connected cars, and the implementation of strict government regulations regarding vehicle safety. Additionally, the market is fueled by the growing trend of electric vehicles and the need for improved performance and efficiency.

However, the high cost of intelligent tires and the limited availability of these tires are major challenges that could limit the growth of the market. The market is also affected by technological advancements and innovations, as well as changing consumer preferences.

Regional Analysis:

The global automotive intelligent tires market can be segmented into various regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the market, followed by Europe and Asia-Pacific.

The market in North America is driven by the presence of key market players and the increasing demand for advanced safety features in vehicles. The market in Europe is fueled by the implementation of strict government regulations regarding vehicle safety and the rising adoption of electric vehicles. The Asia-Pacific market is expected to witness significant growth over the forecast period, driven by the increasing demand for connected cars and the growing automotive industry in the region.

Competitive Landscape:

Leading Companies in the Automotive Intelligent Tires Market:

1. Continental AG
2. Bridgestone Corporation
3. Michelin
4. Pirelli & C. S.p.A.
5. Goodyear Tire & Rubber Company
6. Hankook Tire & Technology Co., Ltd.
7. Sumitomo Rubber Industries, Ltd.
8. Yokohama Rubber Co., Ltd.
9. Giti Tire
10. Cooper Tire & Rubber Company

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation:

The global automotive intelligent tires market can be segmented based on the type of tire, application, and region.

Based on the type of tire, the market can be segmented into radial and bias tires. Radial tires are expected to dominate the market, driven by their improved performance and efficiency.

Based on the application, the market can be segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. The passenger car segment is expected to dominate the market, driven by the increasing demand for advanced safety features in passenger vehicles.

Category-wise Insights:

Based on the category, the global automotive intelligent tires market can be segmented into original equipment manufacturers (OEMs) and aftermarket. The OEM segment is expected to dominate the market, driven by the increasing demand for intelligent tires in new vehicles.

Key Benefits for Industry Participants and Stakeholders:

Industry participants and stakeholders in the global automotive intelligent tires market can benefit from various factors, including:

• Increasing demand for advanced safety features in vehicles
• Rising adoption of connected cars
• Implementation of strict government regulations regarding vehicle safety
• Growing trend of electric vehicles
• Need for improved performance and efficiency

SWOT Analysis:

The global automotive intelligent tires market can be analyzed using a SWOT analysis, which includes:

Strengths:

• Advanced safety features
• Improved performance and efficiency
• Real-time data monitoring

Weaknesses:

• High cost of intelligent tires
• Limited availability of intelligent tires

Opportunities:

• Rising adoption of electric vehicles
• Increasing focus on vehicle safety

Threats:

• Technological advancements and innovations
• Changing consumer preferences

Market Key Trends:

The global automotive intelligent tires market is witnessing various key trends, including:

• Increasing demand for connected cars
• Adoption of advanced safety features
• Growing trend of electric vehicles
• Development of advanced tire technologies

Covid-19 Impact:

The Covid-19 pandemic has had a significant impact on the global automotive industry, including the intelligent tires market. The pandemic led to the closure of production facilities and a decline in demand for vehicles, which affected the market growth.

However, the market has been gradually recovering since the second half of 2020, with the resumption of production activities and the increasing demand for vehicles. The pandemic has also highlighted the importance of advanced safety features in vehicles, which is expected to drive the demand for intelligent tires.

Key Industry Developments:

The global automotive intelligent tires market has witnessed various key industry developments in recent years, including:

• Bridgestone Corporation launched its new Enliten technology in 2020, which reduces the weight of the tire and improves fuel efficiency.
• Michelin launched its new Uptis (Unique Puncture-proof Tire System) technology in 2019, which eliminates the need for air in tires and reduces the risk of punctures and blowouts.
• Continental AG launched its ContiConnect Live system in 2019, which provides real-time data on tire pressure and temperature.

Analyst Suggestions:

According to industry analysts, the global automotive intelligent tires market is expected to witness significant growth over the forecast period, driven by various factors such as the increasing demand for advanced safety features in vehicles, the rising adoption of connected cars, and the implementation of strict government regulations regarding vehicle safety.

To capitalize on the market growth, companies operating in the market should focus on product innovation and development, strategic partnerships and collaborations, and mergers and acquisitions to strengthen their market position. Additionally, companies should invest in research and development activities to develop advanced technologies and improve tire performance.

Future Outlook:

The global automotive intelligent tires market is expected to witness significant growth over the forecast period, driven by various factors such as the increasing demand for advanced safety features in vehicles, the rising adoption of connected cars, and the implementation of strict government regulations regarding vehicle safety.

The market is also expected to benefit from the growing trend of electric vehicles and the need for improved performance and efficiency. However, the market growth may be limited by the high cost of intelligent tires and the limited availability of these tires.

Conclusion:

The global automotive intelligent tires market is expected to witness significant growth over the forecast period, driven by various factors such as the increasing demand for advanced safety features in vehicles, the rising adoption of connected cars, and the implementation of strict government regulations regarding vehicle safety. However, the market growth may be limited by the high cost of intelligent tires and the limited availability of these tires.

To capitalize on the market growth, companies operating in the market should focus on product innovation and development, strategic partnerships and collaborations, and mergers and acquisitions to strengthen their market position.