Global Automotive Tire Information Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about 4.1% from 2020 to 2027, reaching nearly US$ XX Mn.
Global Automotive Tire Information Market
Global Automotive Tire Information Market: Overview
Automotive Tire Information system is designed and developed to record the tire pressure and inform the driver about it. This system assist driver to maintain right tire pressure by giving warning when the pressure is at low level. This system ensures the tire pressure balance to avoid accidents by vehicle imbalance. This system gives warning of low tire pressure in dashboard or Display it on instrument penal.
Proper tire pressure leads to safer vehicle and the tire pressure also improve fuel efficiency of vehicle. This system is a part of ADAS (Advance Driver Assistance System) this system ensures safety and maintenance.
In 1990, more than 100 deaths occurred due to rollovers, this is well known as Firestone recall, and this event pushed US to form a new TREAD Act. This act mandated to use tire pressure monitoring system in all small and medium segment cars. This act implemented on all LMV sold after September 1, 2007.
In Europe, all new passenger car model M1 sold after November 1, 2012 was equipped with tire pressure monitoring system, and from November 1, 2014 all new passenger car sold had Tire pressure monitoring system. For N1 vehicles tire pressure monitoring system is not mandatory but if it is fitted then it must follow the standards of regulation.
South Korean Ministry of Transport announced on July 13, 2010 a revision to the Korea Motor Vehicle Safety Standards, made mandatory to install tire pressure monitoring system in all passenger vehicle and vehicle under 3.5 tons.
Global Automotive Tire Information Market: Key Drivers
Increase in demand for safety, convenience and comfort related to condition of tire condition will drive Global Automotive Tire Information Market. Tire pressure in standard limit helps in braking system which in result increases safety. Adoption of new vehicle stringent standards will increase demand of Automotive Tire Information Market. Proper tire pressure will improve fuel efficiency and reduce pollution which will ultimately increase demand.
Global Automotive Tire Information Market1
Global Automotive Tire Information Market: Restraint
This type of system is usually found in premium vehicle, due to its high cost. Electronic malfunctioning will result in incorrect information and this will be major restraint.
Global Automotive Tire Information Market: Vehicle Type
According to vehicle type, Global Automotive Tire Information Market is segmented into two type: Passenger Vehicle and Commercial vehicle. Passenger Vehicle holds major share in this market. Passenger Vehicle has more adoption rate than commercial vehicle.
Global Automotive Tire Information Market: Regional Overview
The Asia Pacific has dominance over the passenger vehicle market, owing to its population. This region is increasing its household income which is expected to show high growth rate during the forecasted period.
Europe region is dominating the Automotive Tire market due to high demand of luxury car, same features are in demand in the passenger car as well and technological advancements is making it possible. Other regions are also regulating new safety laws and European standards of vehicle norms adaptation can be found in many regions which will drive future Automotive Tire Information Market.
The MMR report will provide an accurate estimation of the contribution of the various segments to the growth of the Automotive Tire Information market size. By Sales Channel, the OEM segment was valued at US$ XX Mn in 2020 and is expected to reach US$ XX Mn by 2027 at a CAGR of 12% during the forecast period.
The report also helps in understanding Automotive Tire Information Market dynamics, structure by analyzing the market segments and projects the Automotive Tire Information Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Automotive Tire Information Market make the report investor’s guide.
Scope of the Automotive Tire Information Market
Automotive Tire Information Market, by Sales Channel
Automotive Tire Information Market, by End User
• Passenger Vehicles
• Commercial Vehicles
Automotive Tire Information Market, by Region
• Asia Pacific
• North America
• South America
• Middle East & Africa
Key players operating in Automotive Tire Information Market
• Bridgestone Corporation
• Kumho Tire Co.
• Toyo Tire & Rubber Co., Ltd.
• The Yokohama Rubber Co., Ltd.
• Sumitomo Rubber Industries Ltd.
• Hankook Tires
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