Global Automotive Smart Tire Market Trends, Scope, and Projections for 2024-2032

 

Automotive Smart Tire Market Overview:

The Automotive Smart Tire Market represents a paradigm shift in the automotive industry, integrating advanced sensor technologies into traditional tire designs. Smart tires are equipped with sensors that monitor various parameters such as tire pressure, temperature, tread wear, and even road conditions. This real-time data is then transmitted to the vehicle's onboard systems, allowing for improved safety, performance, and fuel efficiency. The market's growth is driven by the increasing emphasis on vehicle connectivity, safety, and the demand for more sophisticated tire management solutions.

Smart tires contribute to a safer driving experience by providing timely alerts for issues like underinflation or tread wear, reducing the risk of accidents and enhancing overall vehicle performance. Additionally, these tires play a role in the broader context of connected and autonomous vehicles, where precise data on tire conditions is vital for optimizing driving dynamics and enhancing overall vehicle efficiency. As the automotive industry continues to embrace the era of intelligent transportation, the Automotive Smart Tire Market is poised for significant expansion, offering innovative solutions to enhance both driver safety and vehicle performance.

The global Automotive Smart Tire Market is estimated to reach USD 169.9 billion by 2032 registering a CAGR of 8.3% during the forecast period. This is influenced by the focus of automotive manufacturers to leverage on data and analytics to improve their tires. Metrics such as load detection, tread wear & depth, pressure & temperature, and road conditions can be used in gleaning useful insights and start new trends in tire development.Investments in internet of things (IoT) sensors for extending tire shelf life and fuel efficiency can spur the global automotive smart tire industry. The need to protect fleet drivers and improve logistical inconsistencies can drive the smart tire demand over the forecast period.

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Automotive Smart Tire Market Competitive Outlook  

• The Goodyear Tire & Rubber Co (USA)
• Michelin Group (France)
• NEXEN TIRE Corporation (Korea)
• Continental AG (Germany)
• Bridgestone Corporation (Japan)
• Sumitomo Rubber Industries Ltd. (Japan)
• Pirelli & C. S.p.A. (Italy)

Automotive Smart Tire Market Scope

The factors and challenges that are expected to affect the automotive sector from 2023 to 2030 are detailed in the global Automotive Smart Tire Market size study by MRFR. The paper includes the COVID-19 epidemic and its effects on the value chain and manufacturing.

Automotive industry-specific smart tires utilize sensors to measure tire pressure, driving style, and other vehicle parameters. The development of linked automobiles and the shifting tire business may open the door for smart tires.

Automotive Smart Tire Market Segmentation

On the basis of technology, the market has been segmented into pneumatic tires and non-pneumatic tires.

On the basis of vehicle type, the market has been segmented into battery electric vehicles, hybrid electric vehicles, passenger cars, commercial vehicles, and plug-in hybrid vehicle.

Automotive Smart Tire Market Regional Analysis

Geographically, the global Automotive Smart Tire Market has been segmented into four major regions namely North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). Europe is estimated to account for a significant market share in the Automotive Smart Tire Market owing to relatively high adoption of sensor integrated tires and substantial investments by software giants to incorporate IoT platforms. Sales of connected and passenger vehicles and presence of ride-sharing platforms to improve security of passengers can bode well for the market.  

Considerable sales of commercial vehicles (light commercial and heavy commercial) in the U.S. is expected to augment the growth of global Automotive Smart Tire Market size in North America during the forecast period. Rise of 5G and integration of wireless sensors in fleets can influence the regional Automotive Smart Tire Market over the forecast period. Investments by governments and self-driving technology providers can bode well for the market.

Automotive Smart Tire Drivers

Automotive smart tire drivers are devices that mount on the wheels of a vehicle and provide real-time data on the vehicle's tires. This data can include tire pressure, temperature, tread depth, and load. Smart tire drivers can also detect tire failure and alert the driver.

Smart tire drivers are powered by batteries and communicate with the vehicle's onboard computer using wireless technology. The onboard computer can then display the tire data to the driver on the dashboard or infotainment system.

Smart tire drivers can provide a number of benefits to drivers and fleet operators. These benefits include:

• Improved safety: Smart tire drivers can help to prevent tire failure, which can lead to accidents.
• Increased fuel efficiency: Properly inflated tires have lower rolling resistance, which can improve fuel efficiency.
• Extended tire life: Properly inflated tires last longer.
• Reduced maintenance costs: Smart tire drivers can help to identify potential tire problems early on, which can reduce maintenance costs.

Here are some examples of how automotive smart tire drivers are being used today:

• Commuters: Smart tire drivers can help commuters to improve fuel efficiency and extend the life of their tires.
• Long-haul truck drivers: Smart tire drivers can help long-haul truck drivers to improve safety and reduce maintenance costs.
• Construction workers: Smart tire drivers can help construction workers to improve safety on construction sites.
• Off-road enthusiasts: Smart tire drivers can help off-road enthusiasts to improve safety and performance.

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Wireless EV Charging Market Scope and Growth Opportunities Through 2032

 

Wireless Electric Vehicle Charging Market Overview

 

 

A wireless electric vehicle is possible because of the concept of inductive coupling. An electric current passes through a device, and the device stores the energy for use for charging at a later date. The process can work only if an energy transfer station is present that allows electrical energy to be transferred between two objects.

 

More people worldwide are buying electric vehicles, which is part of what has been driving growth for wireless electric vehicle charging stations. More than 2.1 million electric vehicles were sold around the world, and that was in 2019.

 

There is an opportunity for growth in the market. It comes in the fact that electric vehicles are increasing in popularity, and electric cars are becoming more efficient in running for longer between chargings.

 

Many governments have been actively trying to promote the usage of electric vehicles by passing legislation that favors them. People are also becoming more aware of different solutions to use for transportation. It’s another factor that has been driving growth in the market. The Wireless Electric Vehicle Charging Market was worth USD 4.26 billion in 2020. It is expected to be worth USD 42.62 billion in 2030. The global market is expected to register a CAGR of 26.2% for the forecast period.

 

Segment overview

The global Wireless Electric Vehicle Charging Market can be separated into dynamic wireless and stationary wireless electric by charging type. The former sub-segment is projected to command the largest market share in the short-term future.

 

The global Wireless Electric Vehicle Charging Market can be separated into 3 to 7.7 KW and 11-20 KW. 20-50 KW, and 50 and above by power supply range. Each sub-segment is expected to command equal market shares and register similar CAGRs for the forecast period.

 

The global Wireless Electric Vehicle Charging Market can be separated into commercial and home charging stations by charging station. Both sub-segments are expected to register equal CAGRs and command equal market shares for the forecast period.

 

The global Wireless Electric Vehicle Charging Market can be separated into base charging pads, power control units, and vehicle charging pads by charging pads.

 

The global Wireless Electric Vehicle Charging Market can be separated into the battery and plug-in electric vehicles by propulsion. The lithium-ion battery sub-segment is proliferating and is expected to drive the overall CAGR for wireless electric cars.

 

The global Wireless Electric Vehicle Charging Market can be separated into passenger and commercial vehicles by type. More people are moving about in the post-pandemic period. This is expected to make up for the dramatic decrease in demand for passenger cars that the pandemic period created.

 

The global Wireless Electric Vehicle Charging Market can be separated into OEM and aftermarket by application.

 

The global Wireless Electric Vehicle Charging Market can be grouped into North America, the European Union, Asia-Pacific, and the rest of the world by geographic location.

 

Regional analysis

The Asia-Pacific region is expected to register the highest regional CAGR for the forecast period. The reason is that fast economic growth in most Asian nations translates into a rapidly growing and weather middle class that demands these types of vehicles. It’s especially the case in China and Japan.

 

Wireless electric vehicles are growing in popularity in the Asia-Pacific region partly because more people are aware of the harmful effects of pollution, urbanization, and industrialization in the region. They see wireless electric vehicles as a way to reduce these.

 

Industry news

Robert Bosch GMBH recently started charging $3000 to $4000 for charging wireless electric vehicles.

 

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2024-2032 Demand Projections for Automotive Simulation Solutions and Market Share

 

Automotive Simulation Market Overview:

 

As per the analysis by Market Research Future Reports (MRFR), the global Automotive Simulation Market 2020 is majorly driven due to investment by automobile OEMs in developing the vehicle technology. Developing smart electronics, safety-critical control software, and autonomous driving systems contribute to the expansion of the market.  In addition to it, the increasing concern for the environment has resulted in a rise in environment-friendly simulation program generators that drive the market. Besides, the increasing demand for designing simulators to control the weather, traffic, pedestrians, wildlife, and other vehicles have also contributed to the expansion of the market.

 

Furthermore, automotive simulation allows to re-engineer different parts of vehicles and innovates through rapid virtual prototyping and testing for electrification, smart controls, light-weighting, and energy efficiency. The evaluation of electric, hybrid, and conventional drive systems consist of thermal management, and operating strategies are estimated to propel the market. Automotive simulator and its software are regulated through modeling systems and real-time simulation, which helps in the coordination and configuration of the vehicle's regulation, driver feedback, and dynamics through a graphical interface. The new vehicle test applications demand well-equipped devices, innovation, and environment-friendly solutions due to the increasing concern for protecting the environment. These factors have contributed significantly to expanding the market. 

 

The outbreak of COVID-19 has changed the market dynamics. Several regions have been affected by stringent lockdown, which affected the daily operations of several companies. We will provide COVID-19 impact analysis with the report.

 

Market Segmentation

The global Automotive Simulation Market can be classified based on end-users, components, applications, deployment, and region.

Based on the application, the global Automotive Simulation Market can be classified into mechanical components, drive systems, and fluid power.

Based on end-users, the global Automotive Simulation Market can be classified into component suppliers, OEM, and research & engineering organizations

Based on the component, the global Automotive Simulation Market can be classified into services and software.

Based on deployment, the global Automotive Simulation Market can be classified into the cloud and on-premises.

Based on the region, the global Automotive Simulation Market can be classified into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).

 

Geographical Analysis

The geographical analysis of Europe, North America, Asia-Pacific, and the Rest of the World (RoW) has been conducted. As per the analysis by MRFR, the European market is likely to acquire maximum market share during the review period. The European market is propelling due to the strict rules for vehicle manufacturing and testing and the increasing investment by the established OEMs in the region. On the other hand, the substantial investments made by OEMs, governmental bodies, component suppliers are likely to influence the Automotive Simulation Market in North America during the forecast period. The market in the APAC region is likely to be driven due to the growing sales and manufacture of electric vehicles. Besides, developing economies like India, China, and Japan play a significant role in the regional expansion of the market.

 

Market Competitors

The forefront players of the global Automotive Simulation Market are  ESI Group (Germany), dSPACE GmbH (Germany), ANSYS, Inc. (US),  MOOG INC. (US), PG Automotive GmbH (Germany), Siemens PLM (US), Dassault Systèmes (France), and TESIS GmbH (Germany).

 

Industry News

Canadian robot software provider RoboDK has partnered with automation expert RobCO SWAT from Bulgaria to offer globe's best experts with the latest Industry 4.0 solutions. In the latest project for Mercedes-Benz, RobCo SWAT used RoboDK software to simulate ABB and Motoman robots working on a range of automotive manufacturing tasks, including assembly and painting.

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Turbocharger Market Growth Dynamics Trends, Scope, and Demand Forecast

 

Turbocharger Market Overview

The turbocharger market research report offers a comprehensive analysis of the global turbocharger market and its application, fuel type, material, region, sales channel, technology, and vehicle type segments. The strict emission regulations along with compliance issues are the elements that could influence the turbocharger market advancement throughout the forecast period. The turbocharger market research report by expert analysts is developed to assist organizations in the turbocharger market.

The global turbocharger market size is projected to grow at a CAGR of 7.13% during the forecast period. As per the turbocharger market research report, the global market for turbocharger is projected to grow swiftly by 2030. According to analysts, more economical and greener engines as well as maximized engine efficiency will drive the market growth during the forecast period.

Key Players

• Turbocharger industry include Cummins Inc
• Eaton Corporation
• Honeywell International Inc
• Bosch Mahle Turbo Systems GmbH
• Precision & Turbo
• Borgwarner and Inc
• Rotomaster International
• Mitsubishi Heavy Industries
• Continenetal AG

Turbocharger Market Segmentation

The global turbocharger market has been segmented based on application, fuel type, material, region, sales channel, technology, and vehicle type. On the basis of application, the market for turbocharger is segmented based on agricultural & construction, automotive, marine, and others. Additionally, the market on the basis of fuel type, is segmented into diesel & gasoline. The global market for turbocharger is also covered based on material segment which is further split into aluminium, cast iron, and others.

On the basis of the sales channel, the market for turbocharger is segmented based on OEM & aftermarket. Additionally, the market on the basis of technology, is segmented into Electric Turbocharger, Wastegate, VGT/VNT, and others. The global market for turbocharger is also covered based on vehicle type segment which is further split into heavy commercial vehicle, light commercial vehicle, off-highway vehicles, and passenger vehicles.

Major elements such as growing demand for electric vehicles could obstruct the turbocharger market growth. However, according to the turbocharger market research report, the shift to turbocharged engines from naturally aspirated engines along with lower raw material prices will propel growth throughout the forecast period. The turbocharger market is set to register growth at a high CAGR owing to these key factors.

The exploration of application, fuel type, material, region, sales channel, technology, and vehicle type segments along with regional markets has been given in the global turbocharger market research report. The research analysts studying the turbocharger market have put out market forecasts in the turbocharger market research report in order to support turbocharger market-based companies. The turbocharger market research report provides an extensive understanding of the turbocharger market based on the information and forecasts till 2030.

Turbocharger Market Regional Overview

North America, Europe, Asia Pacific and the rest of the world regional market for turbocharger are predominantly covered in the global turbocharger market research report. Country-level turbocharger markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level turbocharger markets are covered in the report. In Asia-Pacific (APAC) region, the country-level turbocharger markets covered are Japan, India, China, and others. The turbocharger market research report also explores the regional market for turbocharger present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The turbocharger market research report also covers regional markets from the rest of the world alongside turbocharger markets of Africa and the Middle East.

Turbocharger Market Competitive Landscape

Availability of cheap labor as well as low cost material is presumed to drive the turbocharger market growth worldwide. The global turbocharger market could be challenged by stringent environmental regulations, nevertheless, organizations in the turbocharger market will carry the growth rate forward. The turbocharger market research report presents company profiles of major companies active in the turbocharger market globally.

Furthermore, the global turbocharger market report offers an all-inclusive analysis of the market collected from the turbocharger market’s primary and secondary sources covering both decision makers and thought leaders. The turbocharger market research report highlights such key areas assisting businesses operating in the turbocharger market to build better growth strategies.

Turbocharger Industry News

A new agreement was entered into between Hyundai and the Engine & Machinery Division of Hyundai Heavy Industries (HHI-EMD) and ABB Turbocharging. It provides for a "total service solution" to customers of ABB and Hyundai that offers maximum efficiency and emission output across the entire vessel. The arrangement would help ABB Turbocharging HGS in providing its customers with a long-term maintenance and operation. HGS will use ABB's global turbocharging service station network as part of this support. HGS will give its customers a full lifetime service agreement that covers engines and turbochargers by incorporating this turbo-charger service power. 

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Demand for V2X Solutions Accelerates Global Market Scope and Share Forecast

 

V2X Market Overview

The global V2X Market, according to a new research report published by Market Research Future (MRFR), is poised to record a considerable market valuation at a modette CAGR over the assessment period.

Drivers and Restraints

The V2X Market has observed remarkable growth in recent times, primarily due to the start of advanced technology in automobiles as innovative driver assistance methods. Rapidly growing safety concerns among consumers, and increased emphasis by the insurance corporations, the market for V2X is predicted to register a high growth rate. Increasing demand for vehicles and the continually growing production is expected to have a significant contribution in the V2X Market. Rapid developing infrastructure across the globe to accommodate the altering tide in the automotive industry will have a promising impact on the V2X Market. Furthermore, growing demand for real-time traffic data and the expansion of connected vehicles are projected further to enhance the need for V2X in the market. With government authorities framing policies to backing major automotive producers to push for technological improvement, the demand for V2X is slated for notable growth over the review period.

On the other hand, the high primary cost connected with V2X is likely to act as a significant limiting factor in the global V2X Market over the foreseeable future.

Segmental Analysis

The global market for V2X has been analyzed on the basis of propulsion, communication type, and component type. Based on the communication type, the V2X Market has been segmented into V2C, V2V, V2G, V2P, V2D, and V2I. Based on the component type, the V2X Market has been segmented as Hardware and Software. Based on the propulsion type, the global V2X Market has been bifurcated into E.V. and ICE.

Regional Overview

On the basis of region, the global V2X Market has been analyzed in North America, Middle East & Africa, Asia Pacific, Europe, and Latin America.
Additionally, the Asia Pacific region is one of the key regional markets across the world for V2X and is slated to record a considerable market share through the review period. The V2X Market is presently thriving in the Asia Pacific region. The increasing vehicle manufacture in this region is one of the major driving factors for the growth of the market. Improving infrastructure in this region, along with emerging living standards, has positively impacted the automotive industry as a whole. Increasing The availability of vehicle electrification in the Asia Pacific region is also anticipated to impact the V2X Market positively. The low-cost labor in the Asia Pacific has also been a critical factor in the V2X Market. Furthermore, the rapidly growing automotive infrastructure in this region is anticipated to lay the foundation for the swift expansion of the automotive industry.

North America and Europe are the two other substantial regions, primarily due to the established automotive industry in these regions. The presence of primary producers in the developed economies of these regions is also a key driver for the V2X industry. Growing investment in research and development allows producers in this region to create new methods and products to tap capitalizing on the impending market trends.

The automotive industry in Latin America and the Middle East is at a promising stage, which offers favorable conditions for V2X Market growth. The market for V2X is predicted to have steady growth over the review period. These regions are likely to be profitable in the foreseeable future, with numerous automotive manufacturers growing investments to capitalize on the ample demand in these regions.

Competitive Analysis

The key market players identified by MRFR in the global V2X Market are NXP Semiconductors (Netherlands), Continental (Germany), Delphi Automotive (U.K.), Qualcomm (U.S.), and Robert Bosch (Germany).

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Asia-Pacific Electric Car Rental Market Forecast 2024-2032 Opportunities and Demand Growth

 Asia-Pacific Electric Car Rental Market

The Asia-Pacific electric car rental market is experiencing growth, particularly in countries like China and South Korea, where the adoption of electric vehicles is high. Rental companies are adding electric cars to their fleets, and government incentives are encouraging the transition to greener transportation options. The market benefits from an expanding charging network across the region.

An increasing number of car rental operators are now undertaking initiatives, aiming to increase the use of electric vehicles in their fleet. Electric cars generally outperform other types of vehicles, since they offer benefits like low carbon emission, higher fuel economy, comfortable drive, reduced sound from engine and convenience of charging at home, and more. Considering these factors, it is safe to predict that the demand for Electric Car Rental Market can increase rapidly in the following years.

The blossoming travel and tourism sector everywhere acts as an important growth booster in the Electric Car Rental Market. The electric car rental industry is scattered, with the preference of a massive number of organized as well as unorganized companies. The need to move from unorganized to organized sector has led to the prevalence of digital or online electric car rental system. The rising demand for online car rental services is touted to be a lucrative opportunity for the renowned market players and can help market gain huge impetus in the following years.

Frequent technological innovations in e-car rental service, evolving lifestyle, and the high demand from emerging nations also induce significant market growth. Other than this, the escalating adoption of smartphones, the expanding worldwide service sector, strict vehicle emission policies and regulations, and the rapidly burgeoning global population can also accelerate market growth over the next several years.

Electric Car Rental Market is projected to grow from USD 11.39 Billion in 2024 to USD 34.83 billion by 2032.A trend gaining momentum in the Electric Car Rental Market is the use of electric vehicles in these services. This is mostly owing to the surge in government-backed initiatives across countries in the form of policies and regulations that promote use of electric vehicles.

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Electric Car Rental Market Notable Companies

Easirent (UK), Sixt SE (Germany), Europcar Group (France), The Hertz Corporation (US), Zipcar (US), DriveElectric (UK), Green Motion International (UK), BlueIndy (US), Zoomcar (India), Europcar Mobility Group (France), Wattacars (Spain), Avis Budget Group, Inc. (the US), Enterprise Holdings Inc. (US), are the notable companies in the Electric Car Rental Market. These companies are undertaking strategic measures like partnerships and new service launches to procure a stronger market position.

Popular EV Rental Companies:

• Hertz: Offers a variety of EVs for rent, including the Tesla Model 3, Nissan Leaf, and Chevrolet Bolt EV.
• SIXT: Offers a variety of EVs for rent, including the Tesla Model S, Model X, and Model 3, as well as the BMW i3 and Chevrolet Bolt EV.
• Turo: Offers a peer-to-peer car rental marketplace, where you can rent EVs from individual owners.
• Getaround: Another peer-to-peer car rental marketplace, offering a wide variety of EVs for rent.
• Local EV rental companies: Many cities have local EV rental companies that offer competitive rates and a variety of vehicles.

Additional Resources:

• PlugShare: A website and app that helps you find EV charging stations.
• Electric Vehicle Association: A non-profit organization that promotes the use of electric vehicles.
• Department of Energy: The Department of Energy's website has information on a variety of EV incentives and resources.

Renting an EV is a great way to experience the benefits of electric driving. With a little planning, you can have a fun and eco-friendly trip.

EV Rentals: A Greener Way to Get Around

Electric vehicle (EV) rentals are a great way to experience the benefits of driving electric without having to commit to buying an EV yourself. They are also a convenient option for travelers who want to explore a new city without worrying about finding charging stations.

Electric Car Rental Market Segmentation

The market for electric car rental has been considered for segments like vehicle type, application and service.

The vehicle types taken into account for market study are hybrid, plugin hybrid and battery electric car.

The main application areas of electric car rental services are executive, economic, and others.  The excellent fuel efficiency, spike in gasoline prices and the mounting environmental concerns have led to great demand for economic cars in the market.

With respect to services, the market has been narrowed down to online as well as offline. The online channel is the most preferred option across the world, on account of the rising smartphone penetration, expansion of the internet of things (IoT), combined with the enhanced experience it offers to the users.

Regional Outlook

The top markets for electric car rental are Europe, North America, APAC or Asia Pacific, and the rest of the world or RoW.

The maximum share in the global market belongs to APAC, with the rising sales of e-cars and an expansive consumer base deemed as the chief growth boosters. The high demand originating from the developing nations like India, the Philippines, Vietnam and China, also benefits the market. The region boasts of a lucrative car rental market as well as tourism industry, which results in market growth as well.

The second-lead has been taken by the European market, mostly due to the high concentration of leading automotive manufacturers like Audi AG and BMW AG. Strict vehicle emission policies and regulations in France, the UK and Germany discouraging the use of diesel engines also boost the use of electric cars in the region. France, Spain and Germany have been identified as the prime markets in the region, thanks to the surge in electric vehicle car rental services and the thriving tourism sector.

North America comes third in the global market for electric car rental, in view of the widespread presence of a massive number of electric car on rental service vendors in Canada and the US. There is a strong possibility that the US can emerge as the most successful market in the region, following the expanding population of migrants and the frequent technological developments in the automobile industry.

The African market for electric car rental services can perform well in the ensuing years, all because of the favorable growth of the tourism industry. Zambia is the third fastest-expanding tourism destination in the world, which contributes considerably to the country’s GDP as well as to the growth of the Electric Car Rental Market.

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