Advanced Tires Market - Trends Forecast Till 2028

Advanced Tires Market – Trends Forecast Till 2028

The Global Advanced Tires market is anticipated to reach USD 220.9 million in 2021 growing at a CAGR of 18.4% during the forecasting period, 2021-2028.

Advanced tires are a range of new generation tires that differ in multiple ways from a conventional tire. They are made from multiple materials and are airless and thus puncture less. These have a lesser surface area which increases the fuel efficiency without affecting the grip of the tires. Chip-based tires are also available that sense the conditions of the road and then decide upon the functionality.

The high replacement, repair, and maintenance cost of the conventional tires along with the recent trend of driver assistance and the newer technology that uses green raw material to manufacture a new range of tires are some of the factors that have supported long-term expansion for Advanced Tires industry.

Global Advanced Tires market is segmented into On-Highway & Off-Highway Vehicle, Technology, Autonomous Vehicle, 3D Printed, Type, Material and geography.

The product segment is segmented into TPMS, Chip-Embedded, Self-Inflating, All-in-one, Multi-Chamber

The type segment is segmented into Run-flat, Airless, and Pneumatic

Geographically, the global Advanced Tires market is sub-segmented into North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America, and insights are provided for each region and major countries within the regions

Key players in the global Advanced Tires market are Continental (Germany), Bridgestone (Japan), Michelin (France), Goodyear(US), Pirelli (Italy), Sumitomo (Japan), Yokohama (Japan), Hankook Tire (South Korea), Nokian (Finland), CEAT (India), and Toyo Tire (Japan) among others.

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the Advanced Tires market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global Advanced Tires market. Through secondary, the market is classified and segmented as per of industry trend, development, regional market, products, and technological development.

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess prospects. The following figure depicts the market research methodology used in drafting this report on the Advanced Tires market.

The primary Respondent breakdown is given below:

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the Advanced Tires market. This approach has also been used to derive the market for segmentation and sub-segmentation.

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data we contact primary respondents to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

• Leading Companies
• Suppliers & Distributors
• Manufacturers
• Consumers
• Industry/Strategic Consultants

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
• Gain authentic and granular data access for the Advanced Tires market to understand the trends and the factors involved in changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope