Automotive Smart Tire Market by Type, Engineering Technology, Distribution Channel, Vehicle Type

List of Tables

The Automotive Smart Tire Market was valued at USD 5.21 billion in 2023, expected to reach USD 5.82 billion in 2024, and is projected to grow at a CAGR of 12.30%, to USD 11.74 billion by 2030.

The automotive smart tire market encompasses tires equipped with sensors and integrated technologies that gather, analyze, and relay data to improve vehicle safety, efficiency, and performance. These smart tires are crucial for advanced driver assistance systems (ADAS) and autonomous driving solutions, facilitating real-time insights into tire pressure, temperature, and tread wear. As industries globally push towards smart mobility and sustainable automotive solutions, the necessity of smart tires is becoming pronounced. Their primary applications include passenger and commercial vehicles, fleet management services, and connected vehicle ecosystems. End-use scope extends from OEMs to aftermarket services, reflecting broad adoption potential. Market growth is significantly driven by the burgeoning demand for enhanced safety features, the increasing preference for maintenance-free vehicles, and the rise of electric vehicles that require precise control and efficiency. Continued investment in smart city initiatives and intelligent transport systems also fuel demand. Currently, opportunities abound in adapting smart tires in emerging economies where automotive digitization is rapidly gaining traction. However, challenges include high costs of development and deployment, along with standardization issues and data privacy concerns that could hinder seamless adoption. Additionally, complex integration processes involving electronics with traditional tire architectures pose technical limitations. Therefore, innovation should be directed towards cost-effective sensor technology, improving data analytics platforms, and fostering collaborations between technology firms and tire manufacturers. Potential research areas include developing recycled or sustainable smart tire materials and enhancing sensor durability to extend their lifecycle. The market is characterized by its competitive and evolving nature, with key players continuously enhancing product portfolios and engaging in strategic partnerships to strengthen market presence. Firms that emphasize innovation in smart tire technology, while addressing cost and integration challenges, stand to gain considerably in this dynamic market.

KEY MARKET STATISTICS
Base Year [2023]	USD 5.21 billion
Estimated Year [2024]	USD 5.82 billion
Forecast Year [2030]	USD 11.74 billion
CAGR (%)	12.30%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Automotive Smart Tire Market

The Automotive Smart Tire Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing focus on safe driving and need to monitor tire-road friction
- Expanding popularity of smart tires to reduce vehicle emissions
- Rising emphasis on fleet management with remote proactive maintenance
Market Restraints
- Fluctuating costs of raw materials associated with smart tire manufacturing
Market Opportunities
- Advancements in the design, function, and production of smart tires
- Emerging adoption of connected and self-driving cars worldwide
Market Challenges
- Complex manufacturing and repair of smart tires

Porter's Five Forces: A Strategic Tool for Navigating the Automotive Smart Tire Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Automotive Smart Tire Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Automotive Smart Tire Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Automotive Smart Tire Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Automotive Smart Tire Market

A detailed market share analysis in the Automotive Smart Tire Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Automotive Smart Tire Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Automotive Smart Tire Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Automotive Smart Tire Market

A strategic analysis of the Automotive Smart Tire Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Automotive Smart Tire Market, highlighting leading vendors and their innovative profiles. These include Bridgestone Corporation, CEAT Ltd, Continental AG, DENSO Corporation, Giti Tire Pte Ltd., Goodyear Tire and Rubber Co., Hamaton Ltd, Hankook Tire & Technology Co., Ltd., Infineon Technologies AG, JK Tyre & Industries, Kumho Tire, Melexis, Michelin Group, Nokian Tyres PLC, NXP Semiconductors N.V., Panasonic Holdings Corporation, Pirelli & C. S.p.A., Revvo Technologies, Sensata Technologies, SIT by CODA DEVELOPMENT s.r.o., Sumitomo Rubber Industries Ltd., The SMART Tire Company, TireCheck, Toyo Tire Corporation, Tymtix Technologies Pvt. Ltd., ZF Friedrichshafen AG, and Zhongce Rubber Group Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Automotive Smart Tire Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Type, market is studied across RFID-Tagged Tires, Self-Inflating Tires, and Sensors-Embedded Tires.
Based on Engineering Technology, market is studied across Non-pneumatic Tire and Pneumatic Tire.
Based on Distribution Channel, market is studied across Aftermarket and OEMs.
Based on Vehicle Type, market is studied across Commercial Vehicles and Passenger Cars.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-5A3042B3D68B

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing focus on safe driving and need to monitor tire-road friction
  - 5.1.1.2. Expanding popularity of smart tires to reduce vehicle emissions
  - 5.1.1.3. Rising emphasis on fleet management with remote proactive maintenance
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating costs of raw materials associated with smart tire manufacturing
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in the design, function, and production of smart tires
  - 5.1.3.2. Emerging adoption of connected and self-driving cars worldwide
- 5.1.4. Challenges
  - 5.1.4.1. Complex manufacturing and repair of smart tires
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing demand for sensors-embedded tires providing comprehensive data and the potential for proactive adjustments
- 5.2.2. Engineering Technology: Higher adoption of non-pneumatic tires to eliminate the risk of punctures and maintenance efforts
- 5.2.3. Distribution Channel: High preferences for aftermarket sales with a larger, diverse, and accessible offerings
- 5.2.4. Vehicle Type: Significant benefits of smart tires for commercial vehicles in different weather conditions and low rolling resistance
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Automotive Smart Tire Market, by Type

6.1. Introduction
6.2. RFID-Tagged Tires
6.3. Self-Inflating Tires
6.4. Sensors-Embedded Tires

7. Automotive Smart Tire Market, by Engineering Technology

7.1. Introduction
7.2. Non-pneumatic Tire
7.3. Pneumatic Tire

8. Automotive Smart Tire Market, by Distribution Channel

8.1. Introduction
8.2. Aftermarket
8.3. OEMs

9. Automotive Smart Tire Market, by Vehicle Type

9.1. Introduction
9.2. Commercial Vehicles
9.3. Passenger Cars

10. Americas Automotive Smart Tire Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Automotive Smart Tire Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Automotive Smart Tire Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Infineon Presents Xensiv Tire Pressure Sensor with Intelligent Features for Tire Pressure Monitoring Systems
- 13.3.2. Continental Tires India to Launch 'Intelligent Tyres'
- 13.3.3. JK Tyre to Introduce Sensor-Based Smart Tyres for Trucks
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Bridgestone Corporation
2. CEAT Ltd
3. Continental AG
4. DENSO Corporation
5. Giti Tire Pte Ltd.
6. Goodyear Tire and Rubber Co.
7. Hamaton Ltd
8. Hankook Tire & Technology Co., Ltd.
9. Infineon Technologies AG
10. JK Tyre & Industries
11. Kumho Tire
12. Melexis
13. Michelin Group
14. Nokian Tyres PLC
15. NXP Semiconductors N.V.
16. Panasonic Holdings Corporation
17. Pirelli & C. S.p.A.
18. Revvo Technologies
19. Sensata Technologies
20. SIT by CODA DEVELOPMENT s.r.o.
21. Sumitomo Rubber Industries Ltd.
22. The SMART Tire Company
23. TireCheck
24. Toyo Tire Corporation
25. Tymtix Technologies Pvt. Ltd.
26. ZF Friedrichshafen AG
27. Zhongce Rubber Group Co., Ltd.