Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players√Ę‚ā¨‚ĄĘ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Request Free Sample
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Speak to Analyst

Advanced Tires Market Research Report by On-Highway Vehicle Type (LDV, HDV), Off-Highway Vehicle Type (Agriculture Tractors, Construction and Mining Equipment), Material Type (Natural Rubber, Synthetic Rubber, Elastomers, and Others), Type (Pneumatic Tires, Run-Flat Tires, and Others), and Region - Global Forecast to 2030

ID: MRFR/AM/5205-HCR | 100 Pages | Author: Swapnil Palwe| April 2024

As per Market Research Future (MRFR)’s new analysis, the global advanced tires market share is projected to reach USD 406.44 Mn, at a CAGR of 10.8% during the forecast period 2022-2030.

Advanced Tires Market Snapshot:

Advanced tires are a result of various combinations of different types of materials. Generally, advanced tires are airless and have no chance of being punctured. Its surface contact area is less than other tires, which in turn increases the fuel efficiency of the vehicle. The grip of advanced tires is not lost when the vehicle is traveling at a higher speed and is less dangerous on wet roads. In addition, the advanced tire is a new technology that enhances the functioning and performance of the tires by sensing the conditions of roads.

The propelling market factors such as an increase in automobile production and stringent regulations toward vehicular emission are anticipated to propel the growth of the advanced tires market. However, fluctuating price of raw materials required for the production of advanced tires is expected to hinder the market growth. Further, the rise in concern for fuel efficiency and automobile safety offers a remarkable growth opportunity for the players operating in the market.

The staunch focus of the industry leaders and governments on the reduction of carbon materials is expected to catapult the advanced tires market on an upward trajectory in the forthcoming years. However, the inability of mass production coupled with high investment costs is predicted to restrict the expansion of the market over the next couple of years.

Advanced Tires Market Companies Covered:

Some of the key players operating in the global market are Continental (Germany), Bridgestone (Japan), Michelin (France), Goodyear (US), Pirelli (Italy), Sumitomo (Japan), Yokohama (Japan), Hankook Tire (South Korea), Nokian (Finland), CEAT (India), and Toyo Tire (Japan).

Recent Developments

The automotive industry has observed a robust growth in the last decade, mainly in China, the U.S., Japan, India, Germany, and the U.K. In its early stage, the global automotive industry was only concentrated in developed countries such as Japan, the U.S., and Germany. As the automobile industry becomes standardized, manufacturing facilities will focus on developing countries such as China, Thailand, and India. Recently, the automobile industry has been increasing due to speedy industrialization, which has led to an increase in the sale of commercial vehicles such as trucks, tractors, and trailers. Developing nations have witnessed a rise in demand and production of the automobile. For instance, India became the fourth largest automobile industry globally, with an increase in sales of 9.5% year-on-year to 4.2 million units. The automobile production rise in developing nations has led to increased production of automotive catalysts for emission control devices in automobile exhaust systems.

Advanced Tires Market Report Overview:

This MRFR’s report offers an outlook for global advanced tires market based on a detailed analysis of the key elements likely to influence the market foresight. A detailed segmental study of the market based on material type includes natural rubber, synthetic rubber, steel, elastomers, and other materials. By on-highway vehicle type, the market has been analyzed under HAD and LDV. The revenue analysis based on different types of off-highway vehicles covers agriculture tractors, construction and mining equipment, and industrial equipment. Furthermore, the types of advanced tires identified in the report include pneumatic tires, run-flat tires, and airless tires. The regional evaluation of the market encompasses Americas, Europe, Asia Pacific, and the Middle East & Africa.

Advanced Tires Market Report Coverage:

The report covers market dynamics, key developments, past trends, forecast, and market factor analysis which includes supply chain and Porter’s five forces analysis. It also presents market players’ share analysis along with revenue breakdown of market segments by region and a country-level analysis of each segment.

Advanced Tires Market Segmental Analysis:

Insights By On-Highway Vehicle Type

  • LDV

  • HDV

Insights By Off-Highway Vehicle Type

  • Agriculture Tractors

  • Construction and Mining Equipment

  • Industrial Equipment

Insights By Material Type

  • Natural Rubber

  • Synthetic Rubber

  • Steel

  • Elastomers

  • Other materials

Insights By Type

  • Pneumatic Tires

  • Run-Flat Tires

  • Airless Tires

Insights By Region

  • Americas

  • Europe

  • Asia Pacific

  • Middle East & Africa

Advanced Tires Market Research Methodology:

MRFR leverages its industry expertise for drawing actionable insights into the market. A detailed qualitative as well as quantitative assessment of the market is extrapolated from data sourced through credible sources, including but not limited to, interviews, surveys, SEC filings, whitepaper references, etc. under primary and secondary research. A multi-level verification process eliminates deviations and discrepancies. Additionally, top-down and bottom-up approaches ensure the accuracy of the statistical observations available in the report.

Report Attribute/Metric Details
  Market Size   2030 : 406.44 Mn
  CAGR   10.8% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered · By On-Highway Vehicle Type · By Off-Highway Vehicle Type · By Material Type · By Type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Continental (Germany), Bridgestone (Japan), Michelin (France), Goodyear (US), Pirelli (Italy), Sumitomo (Japan), Yokohama (Japan), Hankook Tire (South Korea), Nokian (Finland), CEAT (India), and Toyo Tire (Japan).
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers   Rapid demand for industrial automation is also likely to positively influence the growth of the market during the review period.

Frequently Asked Questions (FAQ) :

The advanced tires market can surge at 10.8% CAGR by 2030.

The advanced tires market can value at USD 406.44 million by 2030

Hankook Tire (South Korea), CEAT (India), Nokian (Finland), and Toyo Tire (Japan) are some reputed names in the advanced tires market.

In 2017, the advanced tires market valued at USD 155.9 Mn.

Natural rubber, elastomers, steel, and synthetic rubber are materials that are used in the fabrication of advanced tires.

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Request Free Sample
Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.
Ask for Customization