Automotive Intelligent Tires Market: Brief Overview
Intelligent power systems are very helpful in improving fleet management, as they help in reducing the cost of the tires, enhance fuel efficiency as well as minimise vehicle breakdowns, thereby providing benefits like fuel efficiency, long lasting tyres, less number of accidents, optimised fleet management, and minimising the carbon dioxide emissions. The rise in the usage of connected cars throughout the world, is the chief driver of the global automotive intelligent tires market. Such cars come with internet connectivity and wireless services that assist the vehicle in connecting to services and networks which are remotely connected.
Automotive Intelligent Tires Market: Drivers and Trends
Manufacturers these days, are trying to provide connected cars with tires that have the ability to modify traction on the go, depending on the condition of the roads as well as the environment, and this is resulting in the increased usage of connected cars, which ultimately is carrying forward the demand of intelligent tires. Also, the usage of battery less sensors for such intelligent tyres is another important factor that is predicted to gain acceptance in this market in the assessment period. The battery less sensors assures low power usage that assures lifetime service of the tires.
The global automotive intelligent tires market is classified on the basis of geography as well as the type of vehicle. On the basis of vehicle type, this market is divided into passenger vehicles and commercial vehicles. The commercial vehicles sector is predicted to dominate this market throughout the assessment period of 2017 to 2025 and even in 2016 it was the commercial vehicle segment that was at the top. Also, it is predicted that the passenger vehicles sector will see a noticeable surge in demand throughout the assessment period and see growth in the total market share.
Automotive Intelligent Tires Market: Regional Analysis
On the basis of geography, automotive intelligent tyres market is divided into Middle East and Africa, North America, Europe, South America, and Asia Pacific. In the year 2016, it was the north america that had the highest share in the global market, and is predicted to continue to perform well throughout the assessment period. Because of the strict regulations implemented by the government to ensure the safety of the passengers, the auto makers now focus on the uses of TPMS or direct tyre pressure measurement system sensors, and this has led to a tremendous boost in the North American market of intelligent tires. It is predicted that Asia Pacific will have a sturdy rise throughout the assessment period. In the Asia Pacific the need for direct tyre pressure measurement system is larger and even in the countries like Japan, Australia, China, Korea, the demand for direct tire pressure measurement system is predicted to grow.
The Goodyear Tire & Rubber Company, Continental AG, Michelin, The Yokohama Rubber Company, Limited, Sumitomo Rubber Industries and The Hankook TireGroup, Pirelli & C. S.p.A., and Bridgestone Corporation.
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