Global Automotive Intelligent Tire and Sensor Market: Focus on Sales Channel, Vehicle Type, and Geography- Analysis & Forecast, 2019-2024

Jun 2019| BIS207A| BIS Research

Report Highlights

Key questions answered in this report:

  • What was the total revenue generated by the global automotive intelligent tire and sensor market for autonomous in 2018 and how is it expected to grow during 2019 – 2024
  • What are the key patents in the automotive tire and sensor industry
  • What are the major driving forces, trends, challenges and growth opportunities that can tend to influence the global automotive intelligent tire and sensor market during the forecast period, 2019-2024
  • What is the volume and value of intelligent tires and sensors for different types of vehicles such as passenger cars, and commercial vehicles (heavy trucks and heavy buses)
  • What are the key developments by the leading players in the automotive tire and sensor industry
  • What is the volume and value of intelligent tires and sensors for different types of sales channels
  • What is the market size of different regions such as North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW)

Global Automotive Intelligent Tire and Sensor Market Forecast, 2019-2024

The Automotive Intelligent Tire and Sensor Industry Analysis by BIS Research 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.

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