Advanced Tires Market by On-Highway & Off-Highway Vehicle, Technology, Autonomous Vehicle, 3D Printed, Type, Material, and Region - Global Forecast to 2030 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 5, 2018--The “Advanced Tires Market by On-Highway & Off-Highway Vehicle, Technology (TPMS, Chip-Embedded, Self-Inflating, All-in-One, etc.), Autonomous Vehicle, 3D Printed, Type (Run-flat, Airless, Pneumatic), Material, and Region - Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The advanced tires market is projected to grow at a CAGR of 17.98% during the forecast period, to reach a USD 1,148.3 million by 2030, from an estimated USD 219.7 million in 2020.
Increased demand for convenience and safety in LDVs and increasing cost of maintenance of HDVs are the key drivers of this market. Alternatively, the high capital costs and inability to mass produce the advanced tires can hinder the growth of the market. The agricultural tractors segment, for the off-highway advanced tire market, is projected to grow at the highest rate during the forecast period.
The agricultural tractors segment is estimated to be the fastest growing in the off-highway advanced tires market during the forecast period. The reducing agricultural population and growing average farm size have increased the overall cost of labor. As a result, the rate of mechanization in agriculture and demand for high power tractors has increased tremendously. This demand for high power tractors has increased the demand for advanced tires as high-power tractors are expected to be the early adapters for advanced tires. Additionally, trends such as autonomous tractors will also drive the overall demand for advanced tires in agricultural tractors.
The LDV market is estimated to account for the largest market share of the on-highway advanced tires market. Increased production of premium vehicles in regions such as North America and Europe coupled with increased demand for connected technologies have resulted in the high growth of the advanced tires market. Additionally, because of personal use and high demand for convenience, the LDVs have a higher installation rate of advanced technologies as compare to HDVs. This trend can be seen across the globe, and thus, the advanced tires market for LDVs is estimated to be the largest.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Technological Overview
7 Advanced Tires Market, By On-Highway Vehicle Type
8 Advanced Tires Market for On-Highway Vehicle, By Technology Type
9 Advanced Tires Market, By Off-Highway Vehicle Type & By Technology
10 Advanced Tires Market, By Niche Technology
11 Advanced Tires Market, By Material Type
12 Advanced Tires Market, By Type
13 Advanced Tires Market, By Region
14 Competitive Landscape
15 Company ProfilesBridgestone Ceat Continental Goodyear Hankook Tire Michelin Nokian Pirelli Sumitomo Tpyp Tire and Rubber Co. Ltd. Yokohama
For more information about this report visit https://www.researchandmarkets.com/research/rdrsmr/advanced_tires?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181005005169/en/
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Related Topics:Automotive Tires
INDUSTRY KEYWORD: AUTOMOTIVE TIRES & RUBBER
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 10/05/2018 05:40 AM/DISC: 10/05/2018 05:40 AM