Global Advanced Tires Market Overview And Statistics For 2024-2033

Advanced Tires Global market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

The Business Research Company's Advanced Tires Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 15, 2024 /EINPresswire / -- The advanced tires market has experienced robust growth in recent years, expanding from $1.10 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to increasing vehicle production and sales, increasing focus on fuel efficiency, increasing adoption of electric vehicles, increasing demand for high-performance vehicles, and increasing urbanization.

Strong Future Growth Anticipated
The advanced tires market is projected to continue its strong growth, reaching $2.01 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to increasing automobile production, expanding the automotive sector, increasing domestic consumption of feature-rich vehicles, growing awareness of tire safety, and rising demand for advanced safety features.

Explore Comprehensive Insights Into The Global Advanced Tires Market With A Detailed Sample Report:

Growth Driver Of The Advanced Tires Market
The increasing automobile production is expected to propel the growth of the advanced tires market going forward. Automobile production refers to manufacturing vehicles, including cars, trucks, buses, and other types of motor vehicles, in large-scale industrial facilities. The increase in automobile production is due to growing disposable incomes, client preferences, autonomous driving capabilities, and personal mobility. Advanced tires enhance vehicle performance, safety, efficiency, and consumer satisfaction, enabling manufacturers to produce high-quality, reliable, and environmentally friendly vehicles that meet modern market demands and regulatory requirements.

Explore The Report Store To Make A Direct Purchase Of The Report:

Major Players And Market Trends
Key players in the advanced tires market include Continental AG, Bridgestone Corporation, Michelin, The Goodyear Tire & Rubber Company, Pirelli & C. SpA, Sumitomo Rubber Industries Ltd.
Major companies operating in the advanced tire market are focused on developing innovative technologies, such as IoT tire sensor technology, to sustain their position in the market. IoT (Internet of Things) tire sensor technology involves using embedded sensors within tires to monitor various parameters and communicate data in real-time to a centralized system, typically through wireless networks.

Segments:
1) By Material: Synthetic Rubber, Aramid and Nylon Reinforcements, Silica-Based Compounds, Steel Belts and Cord Plies, Carbon Black Reinforcement, Other Material
2) By Tire Type: Run-flat Tires, Radial Tires, Airless Tires, Pneumatic Tires
3) By Technology: Self-Inflating Tires, Chip-Embedded Tires, Multi-Chamber Tires, All-in-One Tires, Self-Sealing
4) By Vehicle Type: Light Duty Vehicle (LDV), Heavy Duty Vehicle (HDV)

Geographical Insights: North America Leading The Market
North America was the largest region in the advanced tires market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Advanced Tires Market Definition
Advanced tires refer to tires that incorporate innovative technologies, materials, and designs to enhance performance, durability, safety, and efficiency beyond traditional tire capabilities. These tires are utilized across various vehicles and applications to meet specific performance, durability, and safety standards, ensuring optimal performance and reliability in diverse driving conditions and environments.

Advanced Tires Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Advanced Tires Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on advanced tires market size , advanced tires market drivers and trends, advanced tires market major players, advanced tires competitors' revenues, advanced tires market positioning, and advanced tires market growth across geographies. The advanced tires market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:
Advanced Combat Helmet Global Market Report 2024
report/advanced-combat-helmet-global-market-report

Advanced Process Control Global Market Report 2024
report/advanced-process-control-global-market-report

Advanced Wound Care Devices Global Market Report 2024
report/advanced-wound-care-devices-global-market-report

About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
...
Visit us on social media:
Facebook
X
LinkedIn

MENAFN15082024003118003196ID1108558946