FEATURED COMPANIES
- Bridgestone Corporation
- Denso Corporation
- Infineon Technologies AG
- Nexen Tire Corporation
- Pirelli & C. S.p.A.
- Schrader TPMS Solutions
Key questions answered in this report:
- What were the total revenue generated by the global automotive intelligent tire and sensor market for autonomous in 2018 and how is it expected to grow during 2019-2024?
- What are the key patents in the automotive tire and sensor industry?
- What are the major driving forces, trends, challenges and growth opportunities that can tend to influence the global automotive intelligent tire and sensor market during the forecast period, 2019-2024?
- What is the volume and value of intelligent tires and sensors for different types of vehicles such as passenger cars, and commercial vehicles (heavy trucks and heavy buses)?
- What are the key developments by the leading players in the automotive tire and sensor industry?
- What is the volume and value of intelligent tires and sensors for different types of sales channels?
- What is the market size of different regions such as North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW)?
Global Automotive Intelligent Tire and Sensor Market Forecast, 2019-2024
The Automotive Intelligent Tire and Sensor Industry Analysis projects the market to grow at a significant CAGR of 8.88% in terms of volume and 7.44% in terms of value during the forecast period from 2019 to 2024.
The intelligent tire and sensor market is driven by several factors such as increasing push from governments as well as consumers to ensure road safety. Additionally, the need for cost-effective tire maintenance and increased vehicle data for connected vehicles have influenced the tire sensor market to substantially enhance its sales, which has subsequently propelled the growth of its intelligent tires.
Expert Quote on Global Automotive Intelligent Tire and Sensor Market
“The U.S. market held the largest share, i.e. 22.45%, in the global automotive intelligent tire and sensor market in 2018.” The U.S. automotive intelligent tire and sensor market is expected to grow at a CAGR of 1.54%, during the forecast period 2019-2024. In 2024, China is anticipated to hold the largest market share (38.51%). The China automotive intelligent tire and sensor market is expected to rise at a CAGR of 15.06%, during the forecast period 2019-2024. The market is mainly driven by the massive amount of vehicle sales in the country, along with the recent regulation of mandating TPMS sensors in all new vehicles. Also, various TPMS manufacturers and suppliers along with various tire sensor component suppliers are present in the country, which drives the growth of TPMS sensors in China.”
Scope of the Market Intelligent on the Global Automotive Intelligent Tire and Sensor Market
The automotive intelligent tire and sensor market research provides a detailed perspective of the market on the basis of market breakdown by distribution channel, by vehicle type, and region.
The report further includes information on the key participants involved in the industry along with their financial positions, research and development investments, and impact on the automotive intelligent tire and sensor market in recent years. The most commonly used strategy by leading players for developing a better hold on the market has been partnerships, collaborations, and joint ventures from January 2017 to May 2019.
Market Segmentation
The global automotive intelligent tire and sensor market segmentation (on the basis of vehicle type) is further segmented into passenger car and commercial vehicles. The passenger car segment dominated the global automotive intelligent tire and sensor market in 2018 by acquiring the largest market share and is anticipated to grow at a stable CAGR during the forecast period.
In terms of the distribution channel, the OEMs segment dominated the global automotive intelligent tire and sensor market in 2018 and is expected to maintain its dominance throughout the forecast period as well.
Geographically, the U.S. market held the largest share in the global automotive intelligent tire and sensor market in 2018. However, in 2024, China is anticipated to acquire the largest market share.
Key Companies in the Automotive Intelligent Tire and Sensor Industry
The key players in the global automotive intelligent tire and sensor market include Bridgestone Corporation, Continental AG, Hankook Tire, Michelin, Pirelli & C. S.P.A., Infineon Technologies, NXP Semiconductor, and Schrader Electronics, among others.
FEATURED COMPANIES
- Bridgestone Corporation
- Denso Corporation
- Infineon Technologies AG
- Nexen Tire Corporation
- Pirelli & C. S.p.A.
- Schrader TPMS Solutions
Executive Summary
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FEATURED COMPANIES
- Bridgestone Corporation
- Denso Corporation
- Infineon Technologies AG
- Nexen Tire Corporation
- Pirelli & C. S.p.A.
- Schrader TPMS Solutions
The automotive industry is in the process of constant evolution with various technological developments taking place in the industry that have enhanced facilities and features in vehicles to make the driving experience better. The growing number of vehicles leads to the complications for safer and more secure movement of goods and passengers which advances the concept of vehicle safety on public roads. The dynamic evolution of the automobile industry is attributed primarily to the changing consumer preferences, growing focus toward driver safety, environmental concerns, and stringent government regulations which are focusing toward crash avoidance rather than crash survival. In the past years, automobiles have undergone rapid technological advancements in terms of vehicle performance, passenger safety, communication capabilities, and driving comfort. These improvements have led to a surge in the number of on-road vehicles, thus raising the need for the safer movement of automobiles. These goals of automakers are profoundly supported by several federal authorities such as National Highway Traffic Safety Administration (NHTSA), European Commission (EC), and Ministry of Land, Infrastructure, Transport and Tourism (MLIT).
According to the latest report, titled ‘Global Automotive Intelligent Tire and Sensor Market – Analysis and Forecast (2019-2024)’, the automotive intelligent tire and sensor market is anticipated to grow at a CAGR of 8.88% in terms of volume and 7.44% in terms of value during the forecast period 2019-2024. The intelligent tire and sensor market is driven by several factors such as increasing push from governments as well as consumers to ensure road safety. Rising number of road accidents have resulted in increased regulations by federal authorities with regard to the safety of both the passengers and the pedestrians. Improper inflation of tires and tire blowouts has been a major reason for road accidents. Due to under-inflated tires, according to NHTSA, an estimated 23,000 accidents and 535 fatalities occur per year in the U.S. The government implemented the Transportation Recall, Enhancement, Accountability and Documentation (TREAD) Act which mandates all vehicles, both passenger and commercial, to be equipped with tire pressure monitoring systems (TPMS). Additionally, the need for cost-effective tire maintenance and increased vehicle data for connected vehicles have influenced the tire sensor market to substantially enhance its sales, which has subsequently propelled the growth of its intelligent tires.
Key Questions Answered in the Report:
- What was the total revenue generated by the global automotive intelligent tire and sensor market for autonomous in 2018 and how is it expected to grow during 2019 – 2024?
- What are the key patents in the automotive tire and sensor industry?
- What are the major driving forces, trends, challenges and growth opportunities that can tend to influence the global automotive intelligent tire and sensor market during the forecast period, 2019-2024?
- What is the volume and value of intelligent tires and sensors for different types of vehicles such as passenger cars, and commercial vehicles (heavy trucks and heavy buses)?
- What are the key developments by the leading players in the automotive tire and sensor industry?
- What is the volume and value of intelligent tires and sensors for different types of sales channels?
- What is the market size of different regions such as North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW)?
- Bridgestone Corporation
- Continental AG
- Denso Corporation
- Hankook Tires
- Infineon Technologies AG
- Michelin
- NXP Semiconductors N.V.
- Nexen Tire Corporation
- Pirelli & C. S.p.A.
- Revvo Technologies Inc.
- Schrader TPMS Solutions
- The Goodyear Tire & Rubber Co.
- The Yokohama Rubber Company, Limited
- Tymtix Technologies
- ZF Friedrichshafen AG
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