Connected Tire Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	200 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19224300

Best Price Guarantee
Price	from $4,850
Length	200 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19224300

Connected Tire Market

Growth Factors of Connected Tire Market

The connected tire market size was valued at USD 1.94 million in 2023, and the market is now projected to grow from USD 3.24 million in 2024 to USD 101.99 million by 2032, exhibiting a CAGR of 53.9% during the forecast period of 2023-2030.

The COVID-19 pandemic had significantly affected the connected tire market. The imposed lockdown and the traveling restrictions had reduced the demand for various means of transportation. The disrupted supply chains have halted the manufacturing process and delayed the distribution of diverse components. The financial downturn also affected consumer spending and automotive sales and hence consequently, decreased the market growth.

The connected tire market share globally increased due to the rise of autonomous driving and connected vehicles. The growth of self-driving independent and connected vehicles has boosted the implementation of the technology used in all parts of the vehicle. Manufacturers increase the efficiency of connected vehicles by getting real-time feedback from such parts with the help of advanced vehicle parts, such as connected tires. They provide functions such as data collection, analysis, and storage that aid in decision-making. The integration of 5G, in-vehicle payments, telematics and fleet tracking, and smart parking are serving the extensive adoption of connected vehicle architecture.

The rising trend of implementation of the Internet of Things (IoT) in automobiles is impelling the market growth. The concept of smart vehicles gains traction with the growing demand for tires that can seamlessly integrate with the internet of Things. Major tire manufacturers in service in the tire sectors are testing IoT-connected sensors. Through this they are offering high fuel efficiency, longer tire life, and improved protection to vehicle fleet owners.

Comprehensive Analysis of Connected Tire Market

The connected tire market and automotives industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a thorough regional assessment considering the dominant supply and demand forces that impact the automotive electrical & electronics industry. These segmentations are methodically segregated by vehicle type and rim size. The vehicle type consists of passenger cars and commercial vehicles. However, the rim sizes are 12-17, 18-21, and more than 22.

The Asia Pacific region is conducive to the global connected tire market, leading to a recall of USD 0.7 million because of growing sales of passenger vehicles in the emerging countries. China, Japan, South Korea, and others are expected to advance the market growth. The increasing demand for effective fleet management and predictive maintenance of well-established logistics and ride-hailing industry are expanding the market.

The top players in the market play a crucial role in the automotives industry assuring industrial prospectus growth and setting market standards. These players include Continental AG (Germany), Pirelli & C. S.p.A. (Italy), Michelin (France), Goodyear Tire & Rubber Company (U.S.), Bridgestone Corporation (Japan), Nokian Tyres plc (Finland), Trelleborg AB (Sweden), Sumitomo Rubber Industries, Ltd (Japan), JK Tyres (India), and Toyo Tires (Japan), these market players provide a level-playing competitive landscape.

In January 2024, Tire Monitoring System (TMS) announced its new tire pressure sensor system. It is designed specifically for industrial and Off-the-Road (OTR) vehicles. The system will deal with the requirement for sensor tire pressure for vehicles used for mining, earth-moving, mobile cranes, container ports, and mass-transit systems.

Segmentation Table

Global Connected Tire Market Scope

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 53.9% over 2024 to 2032

Unit Value (USD Million)

Segmentation By Vehicle Type

Passenger Cars
Commercial Vehicles

By Rim Size

12"" – 17""
18"" – 21""
More than 22""

By Geography

North America (By Vehicle Type and By Rim Size)
U.S. (By Vehicle Type )
Canada (By Vehicle Type )
Mexico (By Vehicle Type )
Europe (By Vehicle Type and By Rim Size)
U.K. (By Vehicle Type )
Germany (By Vehicle Type)
France (By Vehicle Type)
Rest of Europe (By Vehicle Type)
Asia Pacific (By Vehicle Type and By Rim Size)
China (By Vehicle Type)
India (By Vehicle Type)
Japan (By Vehicle Type)
South Korea (By Vehicle Type)
Rest of Asia Pacific (By Vehicle Type)
Rest of the World (By Vehicle Type and By Rim Size )

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1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships; 4.2. Porter’s Five Forces Analysis; 4.3. SWOT Analysis; 4.4. Technological Developments; 4.5. Impact of COVID-19 on Connected Tire Market
5. Global Connected Tire Market Analysis, Insights and Forecast, 2019-2032: 5.1. Key Findings / Summary; 5.2. Market Analysis, Insights and Forecast – By Vehicle Type; 5.2.1. Passenger Cars; 5.2.2. Commercial Vehicles; 5.3. Market Analysis, Insights and Forecast – By Rim Size; 5.3.1. 12"" – 17"; 5.3.2. 18"" – 21"; 5.3.3. More than 22"; 5.4. Market Analysis, Insights and Forecast – By Region; 5.4.1. North America; 5.4.2. Europe; 5.4.3. Asia Pacific; 5.4.4. Rest of The World
6. North America Connected Tire Market Analysis, Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. Market Analysis, Insights and Forecast – By Vehicle Type; 6.2.1. Passenger Cars; 6.2.2. Commercial Vehicles; 6.3. Market Analysis, Insights and Forecast – By Rim Size; 6.3.1. 12"" – 17"; 6.3.2. 18"" – 21"; 6.3.3. More than 22"; 6.4. Market Analysis, Insights and Forecast – By Country; 6.4.1. United States; 6.4.1.1. By Vehicle Type; 6.4.2. Canada; 6.4.2.1. By Vehicle Type; 6.4.3. Mexico; 6.4.3.1. By Vehicle Type
7. Europe Connected Tire Market Analysis, Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. Market Analysis, Insights and Forecast – By Vehicle Type; 7.2.1. Passenger Cars; 7.2.2. Commercial Vehicles; 7.3. Market Analysis, Insights and Forecast – By Rim Size; 7.3.1. 12"" – 17"; 7.3.2. 18"" – 21"; 7.3.3. More than 22"; 7.4. Market Analysis, Insights and Forecast – By Country; 7.4.1. United Kingdom; 7.4.1.1. By Vehicle Type; 7.4.2. Germany; 7.4.2.1. By Vehicle Type; 7.4.3. France; 7.4.3.1. By Vehicle Type; 7.4.4. Rest of Europe; 7.4.4.1. By Vehicle Type
8. Asia Pacific Connected Tire Market Analysis, Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. Market Analysis, Insights and Forecast – By Vehicle Type; 8.2.1. Passenger Cars; 8.2.2. Commercial Vehicles; 8.3. Market Analysis, Insights and Forecast – By Rim Size; 8.3.1. 12"" – 17"; 8.3.2. 18"" – 21"; 8.3.3. More than 22"; 8.4. Market Analysis, Insights and Forecast – By Country; 8.4.1. China; 8.4.1.1. By Vehicle Type; 8.4.2. India; 8.4.2.1. By Vehicle Type; 8.4.3. Japan; 8.4.3.1. By Vehicle Type; 8.4.4. South Korea; 8.4.4.1. By Vehicle Type; 8.4.5. Rest of Asia Pacific; 8.4.5.1. By Vehicle Type
9. Rest of The World Connected Tire Market Analysis, Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. Market Analysis, Insights and Forecast – By Vehicle Type; 9.2.1. Passenger Cars; 9.2.2. Commercial Vehicles; 9.3. Market Analysis, Insights and Forecast – By Rim Size; 9.3.1. 12"" – 17"; 9.3.2. 18"" – 21"; 9.3.3. More than 22"
10. Competitive Analysis: 10.1. Key Industry Developments; 10.2. Global Market Position Analysis (2023); 10.3. Competition Dashboard; 10.4. Comparative Analysis – Major Players; 10.5. Company Profiles; 10.5.1. Michelin (Clermont-Ferrand, France); 10.5.1.1. Overview; 10.5.1.2. Products & Services; 10.5.1.3. SWOT Analysis; 10.5.1.4. Recent Developments; 10.5.1.5. Strategies; 10.5.1.6. Financials (Based on Availability); 10.5.2. Pirelli & C. S.p.A. (Milan, Italy); 10.5.2.1. Overview; 10.5.2.2. Products & Services; 10.5.2.3. SWOT Analysis; 10.5.2.4. Recent Developments; 10.5.2.5. Strategies; 10.5.2.6. Financials (Based on Availability); 10.5.3. Goodyear Tire & Rubber Company (Ohio, United States); 10.5.3.1. Overview; 10.5.3.2. Products & Services; 10.5.3.3. SWOT Analysis; 10.5.3.4. Recent Developments; 10.5.3.5. Strategies; 10.5.3.6. Financials (Based on Availability); 10.5.4. Continental AG (Hanover, Germany); 10.5.4.1. Overview; 10.5.4.2. Products & Services; 10.5.4.3. SWOT Analysis; 10.5.4.4. Recent Developments; 10.5.4.5. Strategies; 10.5.4.6. Financials (Based on Availability); 10.5.5. Bridgestone Corporation (Tokyo, Japan); 10.5.5.1. Overview; 10.5.5.2. Products & Services; 10.5.5.3. SWOT Analysis; 10.5.5.4. Recent Developments; 10.5.5.5. Strategies; 10.5.5.6. Financials (Based on Availability); 10.5.6. Nokian Tyres plc (Finland); 10.5.6.1. Overview; 10.5.6.2. Products & Services; 10.5.6.3. SWOT Analysis; 10.5.6.4. Recent Developments; 10.5.6.5. Strategies; 10.5.6.6. Financials (Based on Availability); 10.5.7. Trelleborg AB (Trelleborg, Sweden); 10.5.7.1. Overview; 10.5.7.2. Products & Services; 10.5.7.3. SWOT Analysis; 10.5.7.4. Recent Developments; 10.5.7.5. Strategies; 10.5.7.6. Financials (Based on Availability); 10.5.8. Sumitomo Rubber Industries, Ltd (Hyogo, Japan); 10.5.8.1. Overview; 10.5.8.2. Products & Services; 10.5.8.3. SWOT Analysis; 10.5.8.4. Recent Developments; 10.5.8.5. Strategies; 10.5.8.6. Financials (Based on Availability); 10.5.9. JK Tyres (India); 10.5.9.1. Overview; 10.5.9.2. Products & Services; 10.5.9.3. SWOT Analysis; 10.5.9.4. Recent Developments; 10.5.9.5. Strategies; 10.5.9.6. Financials (Based on Availability); 10.5.10. Toyo Tires (Hyogo, Japan); 10.5.10.1. Overview; 10.5.10.2. Products & Services; 10.5.10.3. SWOT Analysis; 10.5.10.4. Recent Developments; 10.5.10.5. Strategies; 10.5.10.6. Financials (Based on Availability); 11.