Automotive Intelligent Tire Market
Automotive Intelligent Tire Market Size, Share & Industry Analysis, By Technology (Tire Pressure Monitoring System (TPMS), Radio Frequency Identification (RFID), Embedded Sensor Systems), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Sales Channel (OEM, Aftermarket), By Application (Safety & Security, Fuel Efficiency & Emission Control, Vehicle Performance Monitoring) By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Market Overview:
The global Automotive Intelligent Tire Market is projected to grow at a CAGR of 7.8% from 2024 to 2031. The market value is expected to increase from USD XX billion in 2024 to USD YY billion by 2031. Europe currently dominates the market, followed by North America and Asia-Pacific. Key metrics include increasing focus on vehicle safety, growing demand for fuel-efficient vehicles, and rising adoption of advanced driver assistance systems (ADAS).
The market is expanding rapidly because to technological breakthroughs in tyre sensor technology, more vehicle electrification, and rigorous regulatory regulations on vehicle safety and pollution. The integration of intelligent tires into connected automobile ecosystems, as well as the development of self-healing tire technologies, are also helping to drive market growth.
Automotive Intelligent Tire Market Dynamics:
Market Trend: Integration of artificial intelligence and machine learning
The automotive intelligent tyre industry is seeing a substantial increase in the integration of artificial intelligence (AI) and machine learning (ML) technology. These advanced technologies are used to improve the predictive capabilities of intelligent tire systems, allowing for real-time study of tire performance, road conditions, and potential safety issues. For example, in 2023, a major tire manufacturer launched an AI-powered tire monitoring system capable of predicting tire failures up to 30 days in advance, considerably enhancing vehicle safety and maintenance planning. This trend is projected to increase as automakers and tyre manufacturers invest more in AI and machine learning research and development, with the goal of developing more sophisticated and dependable intelligent tyre solutions.
Market Driver: Increasing focus on vehicle safety and regulatory mandates
The increased emphasis on vehicle safety, combined with severe regulatory demands, is a significant driver of the automotive intelligent tyre market. Governments and regulatory agencies throughout the world are enforcing tight safety standards that necessitate advanced tyre monitoring systems. For example, since 2014, the European Union has required all new passenger vehicles to have Tyre Pressure Monitoring Systems (TPMS). Similarly, the US National Highway Traffic Safety Administration (NHTSA) mandates TPMS in all vehicles weighing less than 10,000 pounds. These requirements have greatly accelerated the deployment of intelligent tyre technologies. According to industry experts, the global installation rate of TPMS in new vehicles increased by 15% in 2023 over the previous year. The demand for improved vehicle safety features, especially those linked to tire performance, is projected to fuel the market for automotive intelligent tires.
Market Restraint: High initial costs and complexity of integration
One of the key obstacles for the automotive intelligent tyre market is the high initial cost of these advanced technology. The incorporation of sensors, communication modules, and data processing units into tires dramatically raises their manufacturing costs. This cost increase is frequently passed on to consumers, thus limiting broad adoption, particularly in price-sensitive regions. For example, intelligent tires might be 20-30% more expensive than traditional tires, which can be a big disincentive for certain customers. Furthermore, the complexity of integrating intelligent tyre systems with existing car electronics and software platforms presents technological obstacles for both tyre manufacturers and automakers. These integration challenges might result in longer development times and higher costs, limiting market expansion. Overcoming these pricing and integration constraints is critical to the widespread deployment of automotive intelligent tires in various vehicle classes and markets.
Segment Overview:
Tire Pressure Monitoring System (TPMS) dominates the Automotive Intelligent Tire market:
Tire Pressure Monitoring System (TPMS) is the largest sector in the automotive intelligent tire industry by technology, accounting for over 60% of the market share. This dominance can be credited to TPMS' broad acceptance as a result of legislative obligations in many countries, as well as its demonstrated usefulness in improving vehicle safety and fuel economy.
Recent advancements in the TPMS industry include the introduction of more advanced and precise sensor technology. For example, in 2023, a major automobile supplier introduced a new generation of TPMS sensors with longer battery life and greater ability to detect slow leaks than prior models. These advancements are accelerating the deployment of TPMS across a variety of vehicle categories.
The TPMS industry is also benefiting from the increasing trend of vehicle electrification. Electric vehicles (EVs) necessitate accurate tyre pressure control to maximise range and performance, resulting in increased demand for advanced TPMS systems in this rapidly expanding vehicle market. According to industry data, the installation rate of sophisticated TPMS in electric vehicles increased by 25% in 2023 over the previous year. This tendency is especially pronounced in regions with aggressive EV adoption targets, such as Europe and China.
Regional Outlook:
Europe leads the global Automotive Intelligent Tire market:
Europe now controls the worldwide automobile intelligent tyre industry, with over 35% of the market share. This dominant position is partly owing to the region's severe car safety standards, significant adoption of innovative automotive technology, and the presence of major automotive and tyre manufacturers.
Since 2014, the European Union has led the way in legislating tyre safety measures, including the required installation of TPMS in all new passenger vehicles. Countries like as Germany, France, and the United Kingdom are driving the market with a focus on vehicle safety and a goal to lowering carbon emissions through improved tyre technology.
Recent news illustrates the growing interest in intelligent tyre technologies throughout Europe. In 2023, a major European manufacturer announced the integration of new tyre sensor systems across its whole vehicle lineup, citing increased safety and performance as important factors. This accomplishment demonstrates the region's dedication to integrating intelligent tyre technologies into mainstream automobiles.
Key figures highlight Europe's supremacy in the automotive intelligent tyre market. According to our analysis, Europe was responsible for more than ~40% of worldwide intelligent tyre exports in 2023. Furthermore, the region has experienced a 20% year-on-year growth in patents for intelligent tyre technologies.
The European market has been very active in exploring new uses for intelligent tires. In 2023, a collaborative project between a leading tyre maker and a German technology company led in the development of a new tyre sensor system capable of sensing road surface conditions in real time, bolstering Europe's position as an innovation hub in this area.
Competitive Intelligence:
The automotive intelligent tyre market is characterised by fierce rivalry and quick technology advances. To sustain their competitive advantage, key businesses are focussing on product innovation, strategic collaborations, and increased production capacity.
Leading companies in the area have demonstrated significant financial performance, with several claiming double-digit growth in their intelligent tyre businesses. Market leaders often devote 6-8% of their income to R&D, demonstrating the importance of innovation in this dynamic area.
The competitive landscape has recently shifted towards the development of integrated tyre and vehicle data platforms. Companies are also investing in software and data analytics to give more complete tyre management solutions.
In terms of market share, the top five manufacturers control over 55% of the worldwide automotive intelligent tyre market. However, the industry is seeing the emergence of new players, particularly technology firms specialising in IoT and data analytics, which is projected to increase competition in the future years.
Partnerships between tyre manufacturers, automobile OEMs, and technology companies are becoming more prevalent, with numerous high-profile collaborations announced in the last year. These collaborations seek to create more integrated and sophisticated intelligent tyre solutions that can communicate smoothly with car systems and smart infrastructure.
Advances in 5G technology, the development of self-healing tire materials, and the integration of intelligent tires with autonomous driving systems are all expected to change the competitive environment in the future. Companies that can successfully navigate these changes while providing creative, cost-effective solutions will gain a considerable competitive advantage in the market.
Analyst Opinion:
The automotive intelligent tyre market is at an exciting inflection moment, with tremendous growth and innovation expected in the next years. One of the most promising things we've seen is the integration of intelligent tyre technology into the larger ecosystem of connected and driverless vehicles. This integration has the potential to significantly improve vehicle safety, performance, and maintenance methods.
Another trend to watch is the growing emphasis on sustainability in intelligent tyre development. We predict a spike in R&D activities targeted at developing intelligent tires that not only offer performance data but also help to minimise rolling resistance, enhance fuel efficiency, and extend tire life.
The use of big data and predictive analytics in intelligent tyre systems also shows great promise. As these technologies capture massive amounts of data on tyre performance and road conditions, we anticipate the development of more complex algorithms that can deliver actionable information to drivers, fleet management, and even city planners.
Finally, we anticipate increasing collaboration among tyre makers, automobile OEMs, and technology businesses. These collaborations will be critical in creating standardised protocols for tire data exchange and assuring the seamless integration of intelligent tire systems with next-generation vehicle platforms.
Major Players:
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Bridgestone Corporation
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Continental AG
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Michelin
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The Goodyear Tire & Rubber Company
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Pirelli & C. S.p.A.
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Sumitomo Rubber Industries, Ltd.
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Yokohama Rubber Company
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Hankook Tire & Technology Co., Ltd.
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Nokian Tyres plc
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Toyo Tire Corporation
Key Developments:
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Bridgestone Corporation introduced a new intelligent tire system in November 2024, complete with embedded sensors that can monitor road surface conditions and tire degradation in real time.
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In September 2024, Continental AG announced a strategic relationship with a major automotive AI startup to create next-generation predictive tyre maintenance algorithms.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Bridgestone Corporation
5.2. Continental AG
5.3. Michelin
5.4. The Goodyear Tire & Rubber Company
5.5. Pirelli & C. S.p.A.
5.6. Sumitomo Rubber Industries, Ltd.
5.7. Yokohama Rubber Company
5.8. Hankook Tire & Technology Co., Ltd.
5.9. Nokian Tyres plc
5.10. Toyo Tire Corporation (*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Integration of artificial intelligence and machine learning
6.1.2. Convergence with connected and autonomous vehicle ecosystems
6.1.3. Focus on sustainability in intelligent tire development
6.2. Market Drivers
6.2.1. Increasing focus on vehicle safety and regulatory mandates
6.2.2. Growing demand for fuel-efficient vehicles
6.2.3. Rising adoption of advanced driver assistance systems (ADAS)
6.3. Market Restraints
6.3.1. High initial costs and complexity of integration
6.3.2. Concerns over data privacy and security
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY TECHNOLOGY (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Tire Pressure Monitoring System (TPMS)
7.2. Radio Frequency Identification (RFID)
7.3. Embedded Sensor Systems
8. BY VEHICLE TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Passenger Cars
8.2. Commercial Vehicles
9. BY SALES CHANNEL (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. OEM
9.2. Aftermarket
10. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. Safety & Security
10.2. Fuel Efficiency & Emission Control
10.3. Vehicle Performance Monitoring
11. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
11.1. North America
11.1.1. United States
11.1.2. Canada
11.1.3. Mexico
11.2. South America
11.2.1. Brazil
11.2.2. Argentina
11.2.3. Rest of South America
11.3. Europe
11.3.1. Germany
11.3.2. United Kingdom
11.3.3. France
11.3.4. Italy
11.3.5. Spain
11.3.6. Russia
11.3.7. Rest of Europe
11.4. Asia-Pacific
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia
11.4.5. South Korea
11.4.6. Rest of Asia-Pacific
11.5. Middle-East
11.5.1. UAE
11.5.2. Saudi Arabia
11.5.3. Turkey
11.5.4. Rest of Middle East
11.6. Africa
11.6.1. South Africa
11.6.2. Egypt
11.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Technology:
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Tire Pressure Monitoring System (TPMS)
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Radio Frequency Identification (RFID)
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Embedded Sensor Systems
By Vehicle Type:
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Passenger Cars
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Commercial Vehicles
By Sales Channel:
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OEM
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Aftermarket
By Application:
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Safety & Security
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Fuel Efficiency & Emission Control
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Vehicle Performance Monitoring
By Region:
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North America
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Europe
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Asia-Pacific
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Latin America
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Middle East & Africa
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