According to market research future (mrfr), the advanced tires market growth is projected to touch a valuation of usd 298.8 mn by 2023, growing at 10.8% cagr throughout the forecast period (2018-2023). In its recent covid 19 report on the advanced tires market growth , mrfr also asserts that in 2017, the market valuation reached usd 155.9 mn. Advanced smart tire technology is rapidly changing the automotive and mobility landscape.the global advanced tires market growth is growing at a rapid pace. The market growth attributes to the rising demand for high-end cars and to minimize the skyrocketing tire maintenance and replacement costs.
Besides, the inclination towards the adoption of advanced tires and the advantages of advanced tires boosts sales. Moreover, the rapid industrial automation escalates the market growth to furthered height, improving functionalities of advanced tires.
Get free sample pdf brochure @ https://www.marketresearchfuture.com/sample_request/6668
Global advanced tires market growth – competitive report
Highly competitive, the advanced tires market growth appears fragmented due to the presence of several well-established players. To gain a larger competitive share, these players incorporate strategic initiatives such as partnerships, mergers acquisitions, collaborations, expansions, and product/technology launch.
Industry players focus on in-house manufacturing capabilities, newer technologies, and rd investments. Also, they invest in expansion plans increasing their global footprints. They compete based on reliability, cost, product quality, and aftermarket service.
Major players:
Players leading the global advanced tires market growth include bridgestone (japan), continental (germany), michelin (france), pirelli (italy), goodyear (us), sumitomo (japan), hankook tire (south korea), yokohama (japan), nokian (finland), toyo tire (japan), and ceat (india), among others.
Vehicles are becoming more connected with advanced sensor technologies that monitor every component within a vehicle to optimize performance, safety, and uptime. Tires are the most critical components of a vehicle to provide vital information that can help fleet operators and drivers make better decisions. These advantages, in turn, accelerate the growth of the advanced tires market growth . The rapidly growing aircraft industry allows the market to garner revenue growth consistently.
Additionally, substantial investments transpired into designing tires to meet the specifications, and demanding regulations of various civil and military-specific applications push the market growth. The agriculture industry is witnessing robust growth over the past few years due to the increased global food demand. This, as a result, promotes the market demand increasing the numbers of agriculture tractors.
Conversely, price volatility, and the demand-supply gap in the raw materials required for production are the major factors anticipated to impede the growth of the market. Nevertheless, regular mro activities of agriculture tractors and construction vehicles would support the market growth throughout the review, suggesting the need to change tire due to wear tear.
Check discount @ https://www.marketresearchfuture.com/check-discount/6668
Global advanced tires market growth – segmentation
The report is segmented into five dynamics.
By type: Pneumatic tires, run-flat tires, airless tires, and others.
By on-highway vehicle type : Ldv and hdv.
By off-highway vehicle type : Agriculture tractors, construction and mining equipment, industrial equipment, and others.
By material type: Natural rubber, synthetic rubber, steel, elastomers, other materials, and others.
By regions: Americas, europe, asia pacific, and rest-of-the-world.
Industry/ innovation/ related news
July 23, 2020 ---- revvo technologies (the us), a leading provider of advanced smart tire technology and predictive data analytics company, announced its partnership with an innovative enterprise-grade fleet management platform in north america - platform science, inc.
This partnership would enable the integration of revvo’s leading edge tire technology and advanced data analytics product suite with fleet telematics hardware and cloud-based software platform of platform sciences. Additionally, platform science would integrate valuable tire data and insights that the platform had never had access to. This provides users with enhanced visibility into fleet vehicle tire usage.
Revvo’s advanced tire sensing technology embeds a sensor inside of a vehicle’s tires. It captures real-time tire data, which is turned into actionable insights such as predictive tread life, optimal tire maintenance intervals and settings, and real-time alerts.
Global advanced tires market growth – regional report
North america dominates the global advanced tires market growth . The largest market share attributes to the presence of notable players and the well-developed automotive, airlines, and aerospace sectors. Besides, the high per capita income of demographics, alongside developed economies in the region, propels the advanced tires market growth .
Upsurge in demand for autonomous vehicles impacts the expansion of the market favorably. With its major advanced tires manufacturing companies, the us has the largest share in the regional market. The north american advanced tires market growth is projected to retain its dominance throughout the estimated period.
Europe stands second in the global advanced tires market growth . The market is growing is driven by the burgeoning automotive and aircraft industry in the region. Moreover, the presence of major advanced tires manufacturing companies in the region drives market growth. Also, the growing procurement of military aircraft to strengthen the air combat capabilities fosters regional market growth. The european advanced tires market growth is estimated to create a substantial revenue pocket during the forecast period.
The asia pacific advanced tires market growth is growing briskly. Factors such as raw material advantage and the availability of cost-competitive workforce in the region drive the market growth. The region is vibrating with rapid economic growth, especially in countries such as india and china. This, in turn, fosters the size of the advanced tires market growth in the apac region, driving the aircraft and automotive sectors.
Additionally, increasing purchases of military aircraft alongside the rising demand for commercial airlines boost market growth. The apac advanced tires market growth is expected to witness the highest growth during the review period.
Browse in-depth market research report @ https://www.marketresearchfuture.com/reports/advanced-tires-market-6668
Browse more report
Electric vehicle market @ https://www.marketresearchfuture.com/reports/electric-vehicles-market-1793
Electric vehicle on-board charger market @ https://www.marketresearchfuture.com/reports/electric-vehicle-on-board-charger-market-10442
Electric vehicle powertrain market @ https://www.marketresearchfuture.com/reports/electric-vehicle-powertrain-market-8276
Electric vehicles charging stations market @ https://www.marketresearchfuture.com/reports/electric-vehicles-charging-stations-market-4647
About market research future:
At market research future (mrfr), we enable our customers to unravel the complexity of various industries through our cooked research report (crr), half-cooked research reports (hcrr), raw research reports (3r), continuous-feed research (cfr), and market research consulting services. Mrfr team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by components, application, logistics, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact
Market research future
99 hudson street,5th floor
New york, new york 10013
United states of america
Website: Https://www.marketresearchfuture.com
