Global Advanced Tires Market to Reach $1.3 Billion By 2030

Pune, India    10/03/2020    104 views
Global Advanced Tires Market to Reach $1.3 Billion By 2030

 

 

The global advanced tires market size is anticipated to value at $248.7 million in 2020, and is projected to reach $1,349.7 million by 2030, registering a CAGR of 18.4 percent from 2020 to 2030, according to ResearchAndMarkets.com. In recent days, the adoption of artificial intelligence and smart technology is being incorporated into automobiles and tires. Sensors in advanced tires are being installed to identify threats and react to changes in the environment. The sensors installed in the advanced tires measure various variables and forward them to the driver, vehicle's onboard systems or to the driver's mobile. In addition, companies are offering few next-generation advance tire applications for passenger car tires, and it is anticipated that in the coming years premium tires will provide more driver assistance solutions. The market is anticipated to witness significant growth over the years, owing to the increase in automobile production. The key players analyzed in this advanced tires market report are Bridgestone Corporation, Continental AG, Michelin, Pirelli & C. S.p.A, The Goodyear Tire & Rubber Company, The Yokohama Rubber Co., Ltd., Nokian Tyres plc., Hankook Tire & Technology Co., Ltd., Sumitomo Corporation, Toyo Tire Corporation and others.