Home > Automotive > Automotive Technology > connected tire market
Get a free sample of Connected Tire Market
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Get a free sample of Connected Tire Market
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
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.
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.
Continental AG, Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Pirelli & C. S.p.A., Nokian Tyres plc.
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.
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.