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Advanced Tires Market: Segmented: By Vehicle Type (Light Duty Vehicles (LDV) and Heavy-Duty Vehicles (HDV)), By Technology (Chip embedded tires, Self-inflating tires, Multi chamber tires, all in one tire and others), By Tire Type (Pneumatic tires, Run flat tires, Airless tires and Others), And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031

Advanced Tires Market: Segmented: By Vehicle Type (Light Duty Vehicles (LDV) and Heavy-Duty Vehicles (HDV)), By Technology (Chip embedded tires, Self-inflating tires, Multi chamber tires, all in one tire and others), By Tire Type (Pneumatic tires, Run flat tires, Airless tires and Others), And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031

[ 170 + Pages Research Report ]Advanced Tires Market to surpass USD 1,433.3 million by 2031 from USD 268 million in 2021 at a CAGR of 18.3% in the coming years, i.e., 2021-31. 

Product Overview
Advanced tires are made up of a variety of materials in various combinations. Tires that are generally advanced are airless and cannot be punctured. When compared to other tires, it has a smaller surface contact area, which improves the vehicle's fuel efficiency. Advanced tires maintain their grip even when the vehicles are operating at a higher speed, and they are less risky on wet roads. Furthermore, the sophisticated tire is a new technology that improves tire functionality and performance by sensing road conditions.

Market Highlights
The Global Advanced Tires market is expected to project a notable CAGR of 18.3% in 2031.

The overall demand for sophisticated tires is expected to rise due to rising premium car production and advancements in connected car technologies. Furthermore, tire manufacturers' increased attention to technological advancements such as 3D printers, organic raw materials, and autonomous vehicles is projected to enhance demand for advanced tires in the future.



Global Advanced Tires: Segments
Light-Duty Vehicle segment to grow with the highest CAGR during 2021-31

Based on vehicle type, the market is classified into two categories: light-duty vehicles (LDV) and heavy-duty vehicles (HDV). The LDV industry is expected to have the highest share of the market. Increased demand for sophisticated tires has stemmed from the increased manufacturing of luxury vehicles in different regions, as well as an increase in the desire for linked technology. Furthermore, like premium cars, high-end SUVs are driving demand for advanced tires, and high-end SUVs are expected to be early investors in advanced tires.

Pneumatic tires segment to grow with the highest CAGR during 2021-31

Based on tire type, the market is split into Pneumatic tires, Run-flat tires, Airless tires, and others. During the forecast period, pneumatic tires are expected to have the biggest market share. Pneumatic tires are expected to have the highest installation rate in passenger vehicles since they provide superior grip and vehicle mobility. Pneumatic tires are also simple to produce mass for any tire manufacturer with existing manufacturing capacity. Furthermore, the need for improved pneumatic tires is fueled by the great durability of pneumatic tires combined with their high weight carrying capacity.



Market Dynamics
Drivers
The rise in demand for connected and autonomous technology

Chip-embedded, self-inflating, multi-chamber, as well as all tires, are examples of advanced tires. These technologies are projected to dramatically improve in-vehicle convenience. By monitoring tire pressure in real-time, these technologies help boost tire durability. Furthermore, maintaining a proper tire pressure enhances the vehicle's fuel efficiency. As a result, modern tire technologies are predicted to reduce vehicle maintenance costs, resulting in increased demand for advanced tires around the world. Furthermore, continual new product innovations by top businesses are expected to move the advanced tire market forward for the foreseeable future.

Increasing concerns about fuel safety and efficiency

The main advantages of advanced tires are fuel performance and safety considerations. Governments are enacting strict tire performance regulations, including fuel savings and wet grip-related stopping distance reduction, to address safety concerns. As a result, tire manufacturers will have plenty of opportunities to launch tires that comply with regulatory rules. As a result of technological improvements, tire manufacturers are developing highly efficient tires that improve vehicle overall fuel efficiency. For example, a polymer-based engineering company has released a new line of advanced tires with attributes such as grip & durability. As a result, the growing concern for fuel safety and efficiency is expected to provide significant growth potential for innovative tire manufacturers.

Restraint
Raw material prices fluctuate

The worldwide advanced tire market is restrained by changing raw material prices due to increasing input costs due to reduced production of natural rubber & oil prices. Furthermore, practically all basic materials are crude derivatives, making crude oil prices a factor. Furthermore, the raw materials required to make advanced tires account for the total cost of manufacture, with synthetic & natural rubber being the most common. Crude oil prices have been rising in recent years all across the world. As a result, synthetic rubber or other crude substitutes used in tire manufacturing are projected to rise in price in the future years. As a result, the worldwide advanced tire market's growth is likely to slow.

Global Advanced Tires: Key Players
Bridgestone Corporation
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

CEAT Ltd.
Continental Reifen Deutschland GmbH
Hankook Tire & Technology Co., Ltd.
Michelin
Nokian Tyres plc.
Pirelli & C. S.p.A.
The Goodyear Tire & Rubber Company
Toyo Tire Corporation
Yokohama Tire Corporation
Other Prominent Players
Global Advanced Tires: Regions
The Global Advanced Tires market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe holds a significant portion of the worldwide advanced tire market. In Europe, the high pace of adoption of linked technology in automobiles is likely to stimulate demand for innovative tires. Rapid development and advancement of technologies in the automotive manufacturing industry are also predicted to propel the market in the area forward. Furthermore, the market's growth is predicted to be aided by luxury and premium car manufacturers' increased focus on high-performance automobiles during the projected period.

Impact of Covid-19 on Advanced Tires Market
The COVID-19 pandemic has impacted a wide range of enterprises all across the world. The Advanced Tires Industry had a significant impact as well. To halt the spread of COVID-19, governments around the world implemented harsh restrictions such as border locks, lockdowns, and tight social distancing measures. These measures had a significant effect on the world economy, affecting a variety of industries. Furthermore, a decrease in raw material supply impacted global demand for sophisticated tire device manufacturers. When evaluating the current and prospective market size & growth patterns for all regions and countries, the effect of COVID-19 on market demand is taken into account.

Global Advanced Tires is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Advanced Tires report also contains analysis on:
Advanced Tires Segments:

By Vehicle Type 
Light-Duty Vehicles (LDV)
Heavy-Duty Vehicles (HDV)
By Technology 
Chip embedded tires
Self-inflating tires
Multi-chamber tires
All in one tire
Others
By Tire Type 
Pneumatic tires
Run-flat tires
Airless tires
Advanced Tires Market Report Scope and Segmentation
Report AttributeDetails
The market size value in 2021USD 268 million
The revenue forecast in 2031USD 1,433.3 million
Growth RateCAGR of 18.3% from 2021 to 2031
The base year for estimation2020
Quantitative unitsRevenue in USD million and CAGR from 2021 to 2031
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredVehicle type, Tire Type, Technology, and Region
Regional scopeNorth America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiledBridgestone Corporation, CEAT Ltd., Continental Reifen Deutschland GmbH, Hankook Tire & Technology Co. Ltd., Michelin, Nokian Tires plc., Pirelli & C. S.p.A., The Goodyear Tire & Rubber Company, Toyo Tire Corporation, Yokohama Tire Corporation, and Other Prominent Players.
Table of Contents

1.Executive Summary
2.Global Advanced Tires Market
2.1.Product Overview
2.2.Market Definition
2.3.Segmentation
2.4.Assumptions and Acronyms
3.Research Methodology
3.1.Research Objectives
3.2.Primary Research
3.3.Secondary Research
3.4.Forecast Model
3.5.Market Size Estimation
4.Average Pricing Analysis
5.Macro-Economic Indicators
6.Market Dynamics
6.1.Growth Drivers
6.2.Restraints
6.3.Opportunity
6.4.Trends
7.Correlation & Regression Analysis
7.1.Correlation Matrix
7.2.Regression Matrix
8.Recent Development, Policies & Regulatory Landscape
9.Risk Analysis
9.1.Demand Risk Analysis
9.2.Supply Risk Analysis
10.Global Advanced Tires Market Analysis
10.1.Porter Five Forces
10.1.1.Threat of New Entrants
10.1.2.Bargaining Power of Suppliers
10.1.3.Threat of Substitutes
10.1.4.Rivalry
10.2.PEST Analysis
10.2.1.Political
10.2.2.Economic
10.2.3.Social
10.2.4.Technological
11.Global Advanced Tires Market
11.1.Market Size & forecast, 2020A-2031F
11.1.1.By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
11.1.2.By Volume (Million Units) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.Global Advanced Tires Market: Market Segmentation
12.1.By Regions
12.1.1.North America:(U.S. and Canada), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.1.2.Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.1.3.Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.1.4.Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.1.5.the Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of the Middle East and Africa), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.2.By Vehicle Type: Market Share (2020-2031F)
12.2.1.Light-Duty vehicle, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.2.2.High Duty Vehicle, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.3.By Tire Type: Market Share (2020-2031F)
12.3.1.Pneumatic tires, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.3.2.Run-flat tires, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.3.3.Airless tires, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.3.4.Others, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.4.By Technology: Market Share (2020-2031F)
12.4.1.Chip embedded tires, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.4.2.Self-inflating tires, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.4.3.Multi-Chamber tires, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.4.4.All in one tire, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
12.4.5.Others, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
13.Company Profile
13.1.Bridgestone Corporation
13.1.1.Company Overview
13.1.2.Company Total Revenue (Financials)
13.1.3.Market Potential
13.1.4.Global Presence
13.1.5.Key Performance Indicators
13.1.6.SWOT Analysis
13.1.7.Product Launch
13.2.CEAT Ltd.
13.3.Continental Reifen Deutschland GmbH
13.4.Hankook Tire & Technology Co., Ltd.
13.5.Michelin
13.6.Nokian Tyres plc.
13.7.Pirelli & C. S.p.A.
13.8.The Goodyear Tire & Rubber Company
13.9.Toyo Tire Corporation
13.10.Yokohama Tire Corporation
13.11.Other Prominent Players
13.11.1.Consultant Recommendation
13.11.2.The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Report Title: Advanced Tires Market: Segmented: By Vehicle Type (Light Duty Vehicles (LDV) and Heavy-Duty Vehicles (HDV)), By Technology (Chip embedded tires, Self-inflating tires, Multi chamber tires, all in one tire and others), By Tire Type (Pneumatic tires, Run flat tires, Airless tires and Others), And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031


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