Global Automotive Intelligent Tire and Sensor Market to 2024 - Use of Intelligent Tires in Platooning Systems / Piezoelectric Energy Harvesting with Smart Tires

7/24/2019, 6:55 PM (Source: GlobeNewswire)

Dublin, July 24, 2019 (GLOBE NEWSWIRE) -- The "Global Automotive Intelligent Tire and Sensor Market: Focus on Sales Channel, Vehicle Type, and Geography - Analysis & Forecast, 2019-2024" report has been added to ResearchAndMarkets.com's offering.

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.

Key Topics Covered:

Executive Summary

1 Market Dynamics
1.1 Drivers
1.1.1 Increase in Vehicle Sales
1.1.2 Need of Data for Connected Vehicles
1.1.3 Need for Safety in Vehicles and Stringent Regulations
1.1.4 Cost and Fuel Efficiency
1.1.5 Need to Preserve the Environment
1.1.6 Impact of Market Drivers
1.2 Challenges
1.2.1 Commercial Viability of Smart Tires
1.2.2 Lack of Standardization for TPMS sensors
1.2.3 Technological Challenges
1.2.4 Impact of Market Challenges
1.3 Opportunities
1.3.1 Use of Intelligent Tires in Platooning Systems
1.3.2 Rise of Autonomous and Electric Vehicles
1.3.3 Piezoelectric Energy Harvesting with Smart Tires
1.3.4 Impact of Market Opportunities

2 Competitive Insights
2.1 Key Strategies and Development
2.1.1 Partnerships, Joint Ventures, and Collaborations
2.1.2 New Product Launches
2.1.3 Business Expansion
2.1.4 Mergers and Acquisitions
2.1.5 Other Key Developments
2.2 Product Pricing Analysis
2.3 Market Share Analysis

3 Industry Analysis
3.1 Patent Analysis
3.1.1 Introduction
3.1.2 Key Patents: Intelligent Tires and Sensors
3.1.3 Patent Landscape
3.2 Consortium, Association, and Regulatory Bodies
3.3 Supply Chain Analysis
3.4 Opportunity Matrix Analysis
3.4.1 Opportunity Matrix Analysis, by Region
3.5 Country Share Analysis

4 Assumptions and Limitations
4.1 Assumptions and Limitations for Market Size Calculations
4.2 Market Overview

5 Global Automotive Intelligent Tire and Sensor Market by Sales Channel
5.1 OEM
5.2 Aftermarket

6 Global Automotive Intelligent Tire and Sensor Market by Vehicle Type
6.1 Passenger Vehicle
6.2 Commercial Vehicle

7 Global Automotive Intelligent Tire and Sensor Market by Region

8 Company Profiles

  • 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

For more information about this report visit https://www.researchandmarkets.com/r/ava12s

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Related Topics: Automotive Tires, Automotive Sensors 

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