Market research reports, consulting: Global Market Insights Inc.

Home > Automotive > Automotive Technology > connected tire market

Connected Tire Market Trends

Report ID: GMI6131 Published Date: June 2023Report Format: PDF
Download Free Sample
Summary
Table of Content

Connected Tire Market Trends

Increasing complexities of aeroderivative engines along with the growing focus on engine performance & efficiency are driving market growth. As aeroderivative engines are advanced with complex systems & components, sensors play a significant role in monitoring engine parameters such as temperature, pressure, vibration, speed, fuel flow, and exhaust emissions. The need for these sensors will continue to grow with the increasing complexity of aeroderivative engines to measure and monitor various parameters. Engine optimization & efficiency maximization are the top priorities among industries that use aeroderivative systems such as power generation, oil & gas, and offshore propulsion. Sensors provide real-time monitoring of key engine parameters, allowing dealers to improve engine performance, identify potential problems, and take necessary corrective actions. The demand for sensors arises from the need to improve engine performance, reduce fuel consumption, and improve overall performance. Sensors provide real-time monitoring of key engine parameters, allowing dealers to identify potential problems, improve engine performance, and take necessary corrective actions, thereby boosting market growth.

Author: Suraj Gujar, Deeksha Vishwakarma
Frequently Asked Question(FAQ) :

How big is Asia Pacific connected tires industry?+

Asia Pacific market for connected tire accounted for over 35% in 2022, owing to the increasing production of vehicles, and a shift toward sustainable mobility solutions.

Who are the key players in connected tire industry?+

Continental AG, Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Pirelli & C. S.p.A., Nokian Tyres plc.

Why is connected tires market share from passenger cars segment growing?+

The passenger car segment is expected to hold a market share of over 70% by 2032. As the number of passenger cars on the road continues to grow, the demand for advanced technologies such as connected tires will also witness growth.

What is the size of the global connected tire market?+

The market size for connected tire was valued at USD 8.7 million in 2022 and is anticipated to grow at a CAGR of over 45% between 2023 and 2032, backed by the demand from eco-conscious consumers and fleet operators.

Connected Tire Market Scope

Related Reports

Buy Now

Buy Now

Premium Report Details

Download Free Sample