Rechargeable Tyres

Rechargeable Tyres

Rechargeable tires refer to self-seal concept tires where the gel-like sealant is placed inside the tire that closes the punctured caused by nails and other sharp objects and thus suppresses air leakage. Further, rechargeable tires have inbuilt sensors and other electronic components that transmit data to the tire to the cloud which links with the driver communication terminal and can continue to run for a certain distance after being punctured. Moreover, the rechargeable tire market is an emerging industry that seeks to transform the traditional tire market. Rechargeable tires have the potential to revolutionize mobility across the globe by attaining sustainability, safety, and reliability.

Factors such as technological advancement in the automotive sector with the adoption of advanced safety features in vehicles coupled with a growing investment in R&D by key players in the tires across the globe as it has a high influence on safe driving. For instance: In 2021, Pirelli invested significantly in research and development of renewable and recycled innovative tire technologies for Volvo’s electric Concept Recharge vehicle.

Based on the type, the rechargeable tyre market is segmented into the pneumatic tire, run-flat tire, and non-pneumatic tire. The non-pneumatic tyres cater to the highest share of the rechargeable tire market and is expected to witness propelling growth in the forecasted period. The non-pneumatic tire is an airless tire that supports the weight of the car and it does not rely on air pressure to maintain its shape. With no need to maintain air pressure, there is no risk of pressure that can lead to downtime which eliminates the need to change a tire or stop for repairs. Hence, accentuate the driving experience as drivers can continue their journey without interruption.

Based on application, the rechargeable tyres market is categorized into passenger cars and commercial cars. Passenger cars cater significant share of the rechargeable tyres market. It is mainly owing to the key players in rechargeable tires that are developing self-generating concept tires for motorists or two-wheelers and passenger cars with the vision that these tires are useful for any weather condition. Moreover, the rechargeable tire is lightweight and built with biodegradable material which in turn will be used in electric vehicles to attain 100% sustainability by 2030 as per the zero-emission mission across the globe. For instance: In 2021, As per Michelin’s vision for 2024, the development of tires with 3D print tread will improve the health of tires from wear and tear and be suitable for winter or summer conditions.

• For a better understanding of the market adoption of the rechargeable tyres market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Rest of World. North America has acquired the highest share of the rechargeable tire market and it is anticipated to witness a substantial CAGR during the forecast period. This is mainly attributed to the increasing adoption of electric vehicles in the region with the help of government favourable laws and policies. Additionally, North America has set up a goal of selling half of the all-new vehicles sold to be electric and providing a network of 500,000+ charging stations nationwide by 2030. Also, in order to achieve the green mobility goal opportunities for rechargeable tyres are expected to accentuate their demand in the region. key players in the tyre market are collaborating with each other to develop sustainable technology for tire recycling and extending tire life. For instance: Bridgestone Americas (Bridgestone) and Dow have partnered to develop B-SEALS, a recyclable, silicone-based tire sealant technology. The extended mobility solution was introduced at the 2022 Silicone Expo in Detroit (June 21-23) and represented more than four years of joint research and development between the two companies.
• Some of the major players operating in the market include Good Tire & Rubber Company, Michelin, Continental AG, Bridgestone Corporation, Pireli & C.S.p.A, Hankook Tire & Technology Co., Ltd, Toyo Tire & Rubber Co., Ltd, Yokohama Rubber Company, Ltd., Nexen Tire Corporation, JK Tyres.