Global Connected Tire Market is expected to reach $33.65 million by 2027 growing at a CAGR of 73.0% during 2018 to 2027.
Dec 3, 2019
Some of the key players in the global Connected Tire market are Continental AG, Bridgestone Corporation, MICHELIN, Pirelli & C. S.p.A., and The Goodyear Tire & Rubber Company.
Gaithersburg, Maryland, United States - December 3, 2019 /MarketersMedia/ —
Some of the key factors influencing the market growth include increased competition among tire manufacturers to offer unique solutions and rising trends of vehicle electrification and connected vehicles. However, Cost Barriers are restraining market growth.
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Connecting wires allows an electrical current to travel from one point on a circuit to another because electricity needs a medium through which it can move. Most of the connecting wires are made up of copper or aluminum. Copper is cheap and good conductivity.
In terms of vehicle, the passenger vehicle segment is anticipated to significant growth during the forecast period due to the high penetration of connected tires in exotic, luxury, and premium cars. The advent of shared mobility and ride-hailing services is expected to boost the adoption of connected tires in cars, and subsequently, boost the passenger vehicles segment.
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By geography, North America is estimated to have a lucrative growth over the forecast period. The high spending power of customers and higher sales of premium and luxury vehicles in the U.S. are expected to drive the connected tire market in North America.
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Vehicles Covered:
• Commercial Vehicles
• Passenger Vehicles
Rim Sizes Covered:
• >22’’
• 18’’-21’’
• 12’’-17’’
Applications Covered:
• Aftermarket
• OEMs(Original Equipment Manufacturers)
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Source: MarketersMedia
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