The advanced tires are likely to see massive demand in the coming years with the adoption of autonomous and connected cars. The technological disruptions in the automotive sector and the demand for high-end luxury vehicles are expected to transform the existing tire industry. Innovations in the tire industry are supported by the presence of major manufacturers in the developed markets of North America, such as Canada and China. The demand for advanced tires would experience a symbolic rise due to large-scale acceptance by the consumers in the future.
MARKET DYNAMICS
The advanced tires market is anticipated to flourish in the forecast period on account of the development of low-maintenance tires and improved focus on reducing carbon footprint. The integration of driver assistance and connected features in tires are further likely to propel the market growth. However, high initial investment costs may hamper the growth of the advanced tires market during the forecast period. On the other hand, growth of autonomous and semi-autonomous vehicles offers lucrative opportunities for the players operating in the advanced tires market in the future.
MARKET SCOPE
The "Global Advanced Tires Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of advanced tires market with detailed market segmentation by type, technology, material, and geography. The global advanced tires market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading advanced tires market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global advanced tires market is segmented on the basis of type, technology, and material. Based on type, the market is segmented as airless tires, pneumatic tires, and run-flat tires. On the basis of the technology, the market is segmented as multi-chamber tires, chip-embedded tires, self-inflating tires, and all-in-one tires. The market on the basis of the material is classified as steel, elastomers, rubber, and others.
