Europe Automotive Smart Tire Market
The Europe
automotive smart tire market is expanding, driven by the region's emphasis
on vehicle safety and performance. European automakers and tire manufacturers
are investing in smart tire technology that enhances vehicle handling, safety,
and fuel efficiency. The market is supported by the growing demand for
connected and autonomous vehicles.
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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